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REGISTERED NUMBER: 05472205 (England and Wales)















Financial Statements

for the Year Ended 31 March 2024

for

Mahason Limited

Mahason Limited (Registered number: 05472205)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mahason Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: Mrs P Balamyuran
Mr M Balamyuran





REGISTERED OFFICE: Maple House
382 Kenton Road
Kenton
Harrow
Middlesex
HA3 9DP





REGISTERED NUMBER: 05472205 (England and Wales)





ACCOUNTANTS: KBMD Limited
Chartered Certified Accountants
Maple House
382 Kenton Road
Harrow
Middlesex
HA3 9DP

Mahason Limited (Registered number: 05472205)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £ £
FIXED ASSETS
Intangible assets 4 406,872 435,180
Tangible assets 5 1,294,960 1,095,724
1,701,832 1,530,904

CURRENT ASSETS
Stocks 227,850 220,451
Debtors 6 162,904 142,200
Cash at bank and in hand 85,974 171,900
476,728 534,551
CREDITORS
Amounts falling due within one year 7 (1,236,423 ) (1,074,634 )
NET CURRENT LIABILITIES (759,695 ) (540,083 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

942,137

990,821

CREDITORS
Amounts falling due after more than one
year

8

(594,237

)

(646,595

)
NET ASSETS 347,900 344,226

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 347,800 344,126
SHAREHOLDERS' FUNDS 347,900 344,226

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Mahason Limited (Registered number: 05472205)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





Mr M Balamyuran - Director


Mahason Limited (Registered number: 05472205)

Notes to the Financial Statements
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Mahason Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2010 and 2020, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 1% on cost
Short leasehold - 10% on cost
Improvements to property - 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Mahason Limited (Registered number: 05472205)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 April 2023
and 31 March 2024 566,137
AMORTISATION
At 1 April 2023 130,957
Amortisation for year 28,308
At 31 March 2024 159,265
NET BOOK VALUE
At 31 March 2024 406,872
At 31 March 2023 435,180

Mahason Limited (Registered number: 05472205)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


5. TANGIBLE FIXED ASSETS
Freehold Short Improvements Plant and
property leasehold to property machinery
£ £ £ £
COST
At 1 April 2023 841,237 6,730 90,857 236,012
Additions - - 94,753 206,571
Disposals - - - (18,370 )
At 31 March 2024 841,237 6,730 185,610 424,213
DEPRECIATION
At 1 April 2023 12,770 6,730 22,632 76,914
Charge for year 8,412 - 18,561 73,133
Eliminated on disposal - - - (6,613 )
At 31 March 2024 21,182 6,730 41,193 143,434
NET BOOK VALUE
At 31 March 2024 820,055 - 144,417 280,779
At 31 March 2023 828,467 - 68,225 159,098

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST
At 1 April 2023 110,592 60,730 1,242 1,347,400
Additions 20,685 - 1,515 323,524
Disposals - - - (18,370 )
At 31 March 2024 131,277 60,730 2,757 1,652,554
DEPRECIATION
At 1 April 2023 97,329 34,302 999 251,676
Charge for year 6,789 5,284 352 112,531
Eliminated on disposal - - - (6,613 )
At 31 March 2024 104,118 39,586 1,351 357,594
NET BOOK VALUE
At 31 March 2024 27,159 21,144 1,406 1,294,960
At 31 March 2023 13,263 26,428 243 1,095,724

Mahason Limited (Registered number: 05472205)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Trade debtors 155,851 108,754
Other debtors - 17,123
Other debtors 1,400 1,400
Social security and other tax - 4,665
Prepayments 5,653 10,258
162,904 142,200

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Hire purchase contracts 44,214 44,214
Trade creditors 771,516 526,404
Tax 2,189 105,232
Social security and other taxes 2,918 -
VAT 55,048 3,642
Other creditors 220,856 44,395
Related party 74,605 287,108
Bank loan 51,749 51,749
Directors' current accounts 44 -
Accrued expenses 13,284 11,890
1,236,423 1,074,634

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£ £
Bank loans - 2-5 years 581,344 595,552
Hire purchase contracts 12,893 51,043
594,237 646,595

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£ £
Hire purchase contracts 57,107 95,257

Net obligations under finance leases and hire purchase contracts are secured on the assets concerned.

10. DEBENTURES AND CHARGES

Hsbc Bank PLC and Atom Bank PLC have a fixed and floating charge over all assets of the company.