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REGISTERED NUMBER: 10003492 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MALA INC LIMITED

MALA INC LIMITED (REGISTERED NUMBER: 10003492)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance sheet 1

Notes to the financial statements 2


MALA INC LIMITED (REGISTERED NUMBER: 10003492)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £   
Fixed assets
Intangible assets 4 1,093 1,458
Tangible assets 5 66,847 61,275
67,940 62,733

Current assets
Stocks 500 500
Debtors 6 61,102 42,512
Cash at bank 684,471 616,443
746,073 659,455
Creditors
Amounts falling due within one year 7 157,636 134,143
Net current assets 588,437 525,312
Total assets less current liabilities 656,377 588,045

Provisions for liabilities 8 16,712 15,319
Net assets 639,665 572,726

Capital and reserves
Called up share capital 9 100 100
Retained earnings 639,565 572,626
Shareholders' funds 639,665 572,726

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 director acknowledges his 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.

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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 April 2025 and were signed by:




Mr M J Lawrence - Director


MALA INC LIMITED (REGISTERED NUMBER: 10003492)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. Statutory information

Mala Inc Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 10003492. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and the business address is 98 Sister Ann Way, East Grinstead, West Sussex, RH19 3BQ..

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 income generated as a musician, music composer and DJ, net of VAT and trade discounts.

Intangible assets
Intangible assets are measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The website is being amortised on a 25% reducing balance basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stock and Work In Progress are valued at the lower of cost and net realisable value.

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.

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.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

MALA INC LIMITED (REGISTERED NUMBER: 10003492)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. Intangible fixed assets
Other
intangible
assets
£   
Cost
At 1 April 2023
and 31 March 2024 7,003
Amortisation
At 1 April 2023 5,545
Charge for year 365
At 31 March 2024 5,910
Net book value
At 31 March 2024 1,093
At 31 March 2023 1,458

5. Tangible fixed assets
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1 April 2023 118,426 7,894 126,320
Additions 23,750 4,103 27,853
At 31 March 2024 142,176 11,997 154,173
Depreciation
At 1 April 2023 60,930 4,115 65,045
Charge for year 20,311 1,970 22,281
At 31 March 2024 81,241 6,085 87,326
Net book value
At 31 March 2024 60,935 5,912 66,847
At 31 March 2023 57,496 3,779 61,275

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 2,534 6,694
Other debtors - 8,118
Directors' current accounts 35,857 2,072
Prepayments and accrued income 22,711 25,628
61,102 42,512

MALA INC LIMITED (REGISTERED NUMBER: 10003492)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 27,850 31,341
Tax 80,047 57,285
Social security and other taxes 153 -
VAT 12,201 22,175
Other creditors 32,385 19,127
Accruals and deferred income 5,000 4,215
157,636 134,143

8. Provisions for liabilities
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 16,712 15,319

Deferred
tax
£   
Balance at 1 April 2023 15,319
Provided during year 1,393
Balance at 31 March 2024 16,712

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1.00 100 100

10. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr M J Lawrence
Balance outstanding at start of year 2,072 9,745
Amounts advanced 176,440 137,865
Amounts repaid (142,656 ) (145,538 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 35,856 2,072

As at the balance sheet date the director, Mr M Lawrence owed the company £35,856 (2023: £2,072). This was fully repaid within nine months of the year end.

11. Ultimate controlling party

The company is controlled by the director, Mr M Lawrence, who owns 100% of the issued share capital.