Company Registration No. 12682244 (England and Wales)
Mudita Group Ltd
Unaudited accounts
for the year ended 30 June 2024
Mudita Group Ltd
Unaudited accounts
Contents
Mudita Group Ltd
Company Information
for the year ended 30 June 2024
Directors
Maninder Singh Billen
Jagdeep Singh Gill
Company Number
12682244 (England and Wales)
Registered Office
71-75 Shelton Street
London
Greater London
WC2H 9JQ
Accountants
King & Taylor
123 Cross Lane East
Gravesend
Kent
DA12 5HA
Mudita Group Ltd
Statement of financial position
as at 30 June 2024
Tangible assets
32,812
41,593
Cash at bank and in hand
6,059
76,970
Creditors: amounts falling due within one year
(78,272)
(244,141)
Net current (liabilities)/assets
(18,379)
23,920
Total assets less current liabilities
14,433
65,513
Creditors: amounts falling due after more than one year
(22,188)
(29,156)
Net (liabilities)/assets
(7,755)
36,357
Called up share capital
2
2
Profit and loss account
(7,757)
36,355
Shareholders' funds
(7,755)
36,357
For the year ending 30 June 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 10 March 2025 and were signed on its behalf by
Maninder Singh Billen
Director
Company Registration No. 12682244
Mudita Group Ltd
Notes to the Accounts
for the year ended 30 June 2024
Mudita Group Ltd is a private company, limited by shares, registered in England and Wales, registration number 12682244. The registered office is 71-75 Shelton Street, London, Greater London, WC2H 9JQ.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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:
Plant & machinery
25% reducing balance basis
Motor vehicles
25% reducing balance basis
Fixtures & fittings
20% straight line basis
Computer equipment
20% straight line basis
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Mudita Group Ltd
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 July 2023
222
54,180
393
5,072
59,867
Additions
-
-
272
2,108
2,380
Disposals
-
-
-
(1,031)
(1,031)
At 30 June 2024
222
54,180
665
6,149
61,216
At 1 July 2023
37
17,392
79
766
18,274
Charge for the year
37
9,197
95
1,246
10,575
On disposals
-
-
-
(445)
(445)
At 30 June 2024
74
26,589
174
1,567
28,404
At 30 June 2024
148
27,591
491
4,582
32,812
At 30 June 2023
185
36,788
314
4,306
41,593
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
27,591
36,788
Amounts falling due within one year
Trade debtors
52,458
12,496
Accrued income and prepayments
1,376
178,595
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
7,175
7,175
Trade creditors
17,906
163,379
Taxes and social security
40,823
68,001
Other creditors
11,634
4,886
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
22,188
29,156
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).