Makevale Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04428215 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2021

for

Makevale Group Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Dr S Ahir

Mrs M Ahir

SECRETARY:

Mrs M Ahir

REGISTERED OFFICE:

Valley House

Valley Works Marsh Lane

Ware

Hertfordshire

SG12 9QP

REGISTERED NUMBER:

04428215 (England and Wales)

ACCOUNTANTS:

Andrew Murray & Co

Chartered Accountants & Statutory Auditors

144-146 Kings Cross Road

London

WC1X 9DU

FIXED ASSETS

Investments

4

1,470,007

2,001,466

CURRENT ASSETS

Debtors

5

1,350

300,000

Cash at bank

88,700

99,962

90,050

399,962

CREDITORS

Amounts falling due within one year

6

1,137,597

1,470,857

NET CURRENT LIABILITIES

(1,047,547

)

(1,070,895

)

TOTAL ASSETS LESS CURRENT LIABILITIES

422,460

930,571

CREDITORS

Amounts falling due after more than one year

7

100,000

631,459

NET ASSETS

322,460

299,112

CAPITAL AND RESERVES

Called up share capital

900

900

Retained earnings

8

321,560

298,212

322,460

299,112

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2022 and were signed on its behalf by:

Dr S Ahir - Director

1.	STATUTORY INFORMATION

Makevale Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The preparation of financial statements requires management to make judgments, estimates and assumptions about the carrying values of assets & liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Trade & other debtors

Trade and other debtors are measured at transaction price less and impairment, unless the arrangement constitutes a financing transaction in which case the transaction is measured at the present value of the future receipts discounted at the prevailing market rate of interest.

Trade & other creditors

Trade and other creditors are measured at their transaction price, unless the arrangement constitutes a financing transaction in which case the transaction is measured at the present value of the future payments discounted at the prevailing market rate of interest. Other financial liabilities are initially measured at fair value net of their transaction costs. They are subsequently measured at amortized cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2020

2,001,466

Impairments

(531,459

)

At 30 September 2021

1,470,007

NET BOOK VALUE

At 30 September 2021

1,470,007

At 30 September 2020

2,001,466

Fixed asset investments represents the share capital of subsidiaries Makevale Ltd, MV Plastics Limited (registered in England & Wales) and Makevale Acrylics Private Ltd, a company incorporated in India .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Amounts owed by group undertakings

-

300,000

Other debtors

1,350

-

1,350

300,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Trade creditors

2,100

-

Amounts owed to group undertakings

1,114,365

1,112,577

Taxation and social security

5,057

-

Other creditors

16,075

358,280

1,137,597

1,470,857

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.21

30.9.20

£

£

Other creditors

100,000

631,459

8.

RESERVES

Retained

earnings

£

At 1 October 2020

298,212

Profit for the year

123,348

Dividends

(100,000

)

At 30 September 2021

321,560