Company Registration No. 11763105 (England and Wales)
M Patel Services Limited
Filleted accounts
for the year ended 30 June 2024
M Patel Services Limited
Filleted accounts
Contents
M Patel Services Limited
Company Information
for the year ended 30 June 2024
Directors
Manesha Patel
Manish Patel
Company Number
11763105 (England and Wales)
Registered Office
17 Nicolson Road
Loughborough
LE11 3SD
Accountants
YP Finance
Hawthorne House
17A Hawthorne Drive
Leicester
Leicestershire
LE5 6DL
M Patel Services Limited
Statement of financial position
as at 30 June 2024
Investment property
185,500
185,500
Cash at bank and in hand
66,880
59,381
Creditors: amounts falling due within one year
(22,770)
(14,267)
Net current assets
44,110
45,114
Total assets less current liabilities
229,610
230,614
Creditors: amounts falling due after more than one year
(190,000)
(190,000)
Called up share capital
100
100
Profit and loss account
39,510
40,514
Shareholders' funds
39,610
40,614
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 2 April 2025 and were signed on its behalf by
Manish Patel
Director
Company Registration No. 11763105
M Patel Services Limited
Notes to the Accounts
for the year ended 30 June 2024
M Patel Services Limited is a private company, limited by shares, registered in England and Wales, registration number 11763105. The registered office is 17 Nicolson Road, Loughborough, LE11 3SD.
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.
The accounts are presented in £ sterling.
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.
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.
Fair value at 1 July 2023
185,500
5
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
131
-
Other creditors
22,118
13,771
M Patel Services Limited
Notes to the Accounts
for the year ended 30 June 2024
6
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
190,000
190,000
Allotted, called up and fully paid:
50 Ordinary shares A of £1 each
50
50
50 Ordinary shares B of £1 each
50
50
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).