Registered number
10540548
India Mahon Ltd
Filleted Accounts
31 December 2024
India Mahon Ltd
Registered number: 10540548
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 9,900 13,200
Tangible assets 4 12,213 16,284
22,113 29,484
Current assets
Stocks 202,652 163,200
Debtors 5 - 28,500
Cash at bank and in hand (6,200) (4,879)
196,452 186,821
Creditors: amounts falling due within one year 6 (20,420) (12,625)
Net current assets 176,032 174,196
Total assets less current liabilities 198,145 203,680
Creditors: amounts falling due after more than one year 7 (276,494) (284,806)
Net Liabilities (78,349) (81,126)
Capital and reserves
Called up share capital 100 100
Profit and loss account (78,449) (81,226)
Shareholders' funds (78,349) (81,126)
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.
N Connolly
Director
Approved by the board on 29 September 2025
India Mahon Ltd
Notes to the Accounts
for the year ended 31 December 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.
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 25% reducing balance
Fixtures, fittings, tools and equipment over 5 years
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Website:
Cost
At 1 January 2024 33,000
At 31 December 2024 33,000
Amortisation
At 1 January 2024 19,800
Provided during the year 3,300
At 31 December 2024 23,100
Net book value
At 31 December 2024 9,900
At 31 December 2023 13,200
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 76,733
At 31 December 2024 76,733
Depreciation
At 1 January 2024 60,449
Charge for the year 4,071
At 31 December 2024 64,520
Net book value
At 31 December 2024 12,213
At 31 December 2023 16,284
5 Debtors 2024 2023
£ £
Trade debtors - 28,500
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 12,722 12,722
Taxation and social security costs (2,801) (1,537)
Other creditors 10,499 1,440
20,420 12,625
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 27,021 32,903
Other creditors 249,473 251,903
276,494 284,806
8 Controlling party
The ultimate controlling party during the peroiod was Mrs Connolly
9 Other information
India Mahon Ltd is a private company limited by shares and incorporated in England. Its registered office is:
12 Montpellier Street
Harrogate
HG1 2TQ
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