MAHALAXMI CATERING LIMITED - Accounts

MAHALAXMI CATERING LIMITED - Accounts

MAHALAXMI CATERING LIMITED - Company Information

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Registered Number: 10409138
England and Wales

 

 

 

MAHALAXMI CATERING LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 November 2020

End date: 31 October 2021

MAHALAXMI CATERING LIMITED
Contents Page
For the year ended 31 October 2021
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of MAHALAXMI CATERING LIMITED for the year ended 31 October 2021 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the member of MAHALAXMI CATERING LIMITED, as a body, in accordance with the terms of our engagement letter dated 12 July 2022. Our work has been undertaken solely to prepare for your approval the accounts of MAHALAXMI CATERING LIMITED and state those matters that we have agreed to state to the Board ofs of MAHALAXMI CATERING LIMITED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MAHALAXMI CATERING LIMITED and its members as a body for our work or for this report.

It is your duty to ensure that MAHALAXMI CATERING LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and Loss of MAHALAXMI CATERING LIMITED. You consider that MAHALAXMI CATERING LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of MAHALAXMI CATERING LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
SNP Plus Ltd
Accountants and Tax Advisors
284 Station Road
Harrow
HA1 2EA
12 July 2022
1
 
 		 Notes
 		 2021
£		   2020
£
Fixed assets      
Tangible fixed assets 17,037    23,332 
17,037    23,332 
Current assets      
Stocks 2,780    2,346 
Debtors 10,000    5,500 
Cash at bank and in hand 4,126    8,437 
16,906    16,283 
Creditors: amount falling due within one year (60,795)   (45,378)
Net current liabilities (43,889)   (29,095)
 
Total assets less current liabilities (26,852)   (5,763)
Creditors: amount falling due after more than one year (24,334)   (30,000)
Provisions for liabilities (3,292)   (6,998)
Net liabilities (54,478)   (42,761)
 

Capital and reserves 		     
Called up share capital 10    10 
Profit and loss account (54,488)   (42,771)
Shareholder's funds (54,478)   (42,761)
 


For the year ended 31 October 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 12 July 2022 and were signed on its behalf by:


--------------------------------
Shiba Hari Tiwari
Director		--------------------------------
Dharmesh Ramnik Vaghela
Director
2
General Information
MAHALAXMI CATERING LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10409138, registration address 134 Field End Road, Pinner, HA5 1RJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of trade discounts.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 25% Straight Line
Fixtures and Fittings 25% Straight Line
Plant and Machinery 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2020 : 3).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Plant and Machinery   Fixtures and Fittings   Total
  £   £   £   £
At 01 November 2020 6,167    5,677    23,230    35,074 
Additions -    -    3,300    3,300 
Disposals -    -    -    - 
At 31 October 2021 6,167    5,677    26,530    38,374 
Depreciation
At 01 November 2020 1,631    1,636    8,475    11,742 
Charge for year 1,542    1,420    6,633    9,595 
On disposals -    -    -    - 
At 31 October 2021 3,173    3,056    15,108    21,337 
Net book values
Closing balance as at 31 October 2021 2,994    2,621    11,422    17,037 
Opening balance as at 01 November 2020 4,536    4,041    14,755    23,332 


4.

Share Capital

Allotted, called up and fully paid
2021
£		   2020
£
10 Class A shares of £1.00 each 10    10 
10    10 

5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2021
£		 2020
£		 2021
£		 2020
£
Mr. Shiba Hari Tiwari and Mr. Dharmesh Ramnik Vaghela- - 50,705 45,660 
3