Registered number
10477901
Mehmet Ali Ltd
Filleted Accounts
30 November 2024
Mehmet Ali Ltd
Registered number: 10477901
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 5,000 5,000
Tangible assets 4 10,149 12,641
15,149 17,641
Current assets
Debtors 5 11,500 11,500
Cash at bank and in hand 28,442 23,543
39,942 35,043
Creditors: amounts falling due within one year 6 (54,877) (52,195)
Net current liabilities (14,935) (17,152)
Net assets 214 489
Capital and reserves
Called up share capital 100 100
Profit and loss account 114 389
Shareholders' funds 214 489
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Fevzi Sanir
Director
Approved by the board on 16 June 2025
Mehmet Ali Ltd
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
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. 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
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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 and subsequently measured at amortised cost determined using the effective interest method.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2023 5,000
At 30 November 2024 5,000
Amortisation
At 30 November 2024 -
Net book value
At 30 November 2024 5,000
At 30 November 2023 5,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2023 1 30,689 30,690
At 30 November 2024 1 30,689 30,690
Depreciation
At 1 December 2023 - 18,049 18,049
Charge for the year - 2,492 2,492
At 30 November 2024 - 20,541 20,541
Net book value
At 30 November 2024 1 10,148 10,149
At 30 November 2023 1 12,640 12,641
5 Debtors 2024 2023
£ £
Other debtors 11,500 11,500
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 1,500
Taxation and social security costs 5,202 4,968
Other creditors 49,675 45,727
54,877 52,195
7 Controlling party
Company director Fevzi Sanir, controls the company by virtue of holding 95% of the issued share capital whilst Mr Salman Ucer holds 5% of the remaining issued share capital.
8 Other information
Mehmet Ali Ltd is a private company limited by shares and incorporated in England. Its registered office is:
8 Clock House Parade
North Circular Road
London
N13 6BG
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