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Company Registration No. 09034910 (England and Wales)
Management and Business Academy Limited Unaudited accounts for the year ended 31 May 2024
Management and Business Academy Limited Unaudited accounts Contents
Page
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Management and Business Academy Limited Company Information for the year ended 31 May 2024
Directors
Dr J.M. Khorassani Dr A. Nazarian
Company Number
09034910 (England and Wales)
Registered Office
64 The Vale London NW11 8SJ England
Accountants
Stephen Beard Accountancy Services 10 Cheshire Road Thame Oxon OX9 3LQ
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Management and Business Academy Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
618 
159 
Current assets
Debtors
2,080 
2,452 
Cash at bank and in hand
1,607 
437 
3,687 
2,889 
Creditors: amounts falling due within one year
(15,145)
(14,383)
Net current liabilities
(11,458)
(11,494)
Net liabilities
(10,840)
(11,335)
Capital and reserves
Called up share capital
30 
30 
Profit and loss account
(10,870)
(11,365)
Shareholders' funds
(10,840)
(11,335)
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2025 and were signed on its behalf by
Dr J.M. Khorassani Director Company Registration No. 09034910
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Management and Business Academy Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Management and Business Academy Limited is a private company, limited by shares, registered in England and Wales, registration number 09034910. The registered office is 64 The Vale, London, NW11 8SJ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Straight line basis
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Management and Business Academy Limited Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 June 2023
1,975 
Additions
738 
Disposals
(1,596)
At 31 May 2024
1,117 
Depreciation
At 1 June 2023
1,816 
Charge for the year
279 
On disposals
(1,596)
At 31 May 2024
499 
Net book value
At 31 May 2024
618 
At 31 May 2023
159 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
26 
- 
Deferred tax asset
2,054 
2,171 
Accrued income and prepayments
- 
281 
2,080 
2,452 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Loans from directors
14,122 
13,498 
Accruals
1,023 
885 
15,145 
14,383 
7
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
118 
30 
Tax losses carried forward
(2,172)
(2,201)
(2,054)
(2,171)
2024 
2023 
£ 
£ 
Provision at start of year
(2,171)
(1,543)
Charged/(credited) to the profit and loss account
117 
(628)
Provision at end of year
(2,054)
(2,171)
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Management and Business Academy Limited Notes to the Accounts for the year ended 31 May 2024
8
Transactions with related parties
The directors have made loans to the company to provide working capital. The loans are repayable on demand. The amounts owed at the year-end totalled £14,122 (2023- £13,498).
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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