Registered number
06500547
Mayfair Practice Limited
Filleted Accounts
28 February 2025
Mayfair Practice Limited
Registered number: 06500547
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 3 9,600 10,800
Tangible assets 4 95,672 125,092
105,272 135,892
Current assets
Debtors 5 93,517 34,282
Cash at bank and in hand 430,785 270,074
524,302 304,356
Creditors: amounts falling due within one year 6 (70,078) (33,278)
Net current assets 454,224 271,078
Total assets less current liabilities 559,496 406,970
Creditors: amounts falling due after more than one year 7 (23,316) (39,876)
Net assets 536,180 367,094
Capital and reserves
Called up share capital 100 100
Profit and loss account 536,080 366,994
Shareholders' funds 536,180 367,094
The director is 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 director acknowledges his 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.
Dr Jhanbux Jamshed Noshirwanadil Masani
Director
Approved by the board on 17 June 2025
Mayfair Practice Limited
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 25% reducing balance method
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 7 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2024 30,000
At 28 February 2025 30,000
Amortisation
At 1 March 2024 19,200
Provided during the year 1,200
At 28 February 2025 20,400
Net book value
At 28 February 2025 9,600
At 29 February 2024 10,800
Goodwill is being written off in equal annual instalments over its estimated economic life of 25 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2024 880,473
Additions 2,471
At 28 February 2025 882,944
Depreciation
At 1 March 2024 755,381
Charge for the year 31,891
At 28 February 2025 787,272
Net book value
At 28 February 2025 95,672
At 29 February 2024 125,092
5 Debtors 2025 2024
£ £
Trade debtors 3,400 2,898
Other debtors 90,117 31,384
93,517 34,282
6 Creditors: amounts falling due within one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 16,560 19,752
Taxation and social security costs 44,672 2,779
Other creditors 8,846 10,747
70,078 33,278
7 Creditors: amounts falling due after one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 23,316 39,876
8 Related party transactions
Loan to Director
Amount due from the related party 44,955 -
Included in other debtors is the amount of £44,955 for year 2025 being a loan to the director.
(s455 tax is £15.172.31)
9 Controlling party
The company is 60% controlled by Mr Jhanbux Jamshed Noshirwanadil Masani by virtue of his shareholding.
10 Other information
Mayfair Practice Limited is a private company limited by shares and incorporated in England. Its registered office is:
12 Lees Place
London
W1K 6LW
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