Registered number
SC379752
MADRAS COTTAGE LTD
Filleted Accounts
30 June 2024
MADRAS COTTAGE LTD
Registered number: SC379752
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,203 3,559
Current assets
Stocks 1,959 3,423
Debtors 4 862 -
Cash at bank and in hand 4,532 10,766
7,353 14,189
Creditors: amounts falling due within one year 5 (1,560) (2,987)
Net current assets 5,793 11,202
Total assets less current liabilities 8,996 14,761
Creditors: amounts falling due after more than one year 6 (11,691) (11,691)
Net (liabilities)/assets (2,695) 3,070
Capital and reserves
Called up share capital 100 100
Profit and loss account (2,795) 2,970
Shareholder's funds (2,695) 3,070
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Abdul Ghafoor
Director
Approved by the board on 14 October 2024
MADRAS COTTAGE LTD
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 10% reducing balances
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Fixture and fittings etc
£
Cost
At 1 July 2023 13,410
At 30 June 2024 13,410
Depreciation
At 1 July 2023 9,851
Charge for the year 356
At 30 June 2024 10,207
Net book value
At 30 June 2024 3,203
At 30 June 2023 3,559
4 Debtors 2024 2023
£ £
Other debtors 862 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,560 2,292
Taxation and social security costs - 695
1,560 2,987
6 Creditors: amounts falling due after one year 2024 2023
£ £
Director's loan account 11,691 11,691
MADRAS COTTAGE LTD SC379752 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts July 2024 Mr Abdul Ghafoor No description of principal activity SC379752 2022-07-01 2023-06-30 SC379752 core:WithinOneYear 2023-06-30 SC379752 core:AfterOneYear 2023-06-30 SC379752 core:ShareCapital 2023-06-30 SC379752 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC379752 2023-07-01 2024-06-30 SC379752 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC379752 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC379752 bus:Director40 2023-07-01 2024-06-30 SC379752 2 2023-07-01 2024-06-30 SC379752 core:PlantMachinery 2023-07-01 2024-06-30 SC379752 bus:FRS102 2023-07-01 2024-06-30 SC379752 bus:FilletedAccounts 2023-07-01 2024-06-30 SC379752 2024-06-30 SC379752 core:WithinOneYear 2024-06-30 SC379752 core:AfterOneYear 2024-06-30 SC379752 core:ShareCapital 2024-06-30 SC379752 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC379752 core:PlantMachinery 2024-06-30 SC379752 2023-06-30 SC379752 core:PlantMachinery 2023-06-30 iso4217:GBP xbrli:pure