Mad Gadget Tech Ltd
Registered number: 09779352
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,866 4,832
Current assets
Stocks 18,678 18,678
Debtors 4 100 100
Cash at bank and in hand 13,414 14,167
32,192 32,945
Creditors: amounts falling due within one year 5 (4,352) (11,486)
Net current assets 27,840 21,459
Net assets 31,706 26,291
Capital and reserves
Called up share capital 100 100
Profit and loss account 31,606 26,191
Shareholder's funds 31,706 26,291
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 member has 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.
Waheed Ahmed
Director
Approved by the board on 27 June 2025
Mad Gadget Tech Ltd
Notes to the Accounts
for the year ended 30 September 2024
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 October 2023 7,600
At 30 September 2024 7,600
Depreciation
At 1 October 2023 2,768
Charge for the year 966
At 30 September 2024 3,734
Net book value
At 30 September 2024 3,866
At 30 September 2023 4,832
4 Debtors 2024 2023
£ £
Other debtors 100 100
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 1,609 1,278
Other creditors 2,743 10,208
4,352 11,486
6 Other information
Mad Gadget Tech Ltd is a private company limited by shares and incorporated in England. Its registered office is:
95 Fourth Avenue
Bordesley Green
Birmingham
West Midlands
B9 5RG
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