Maalmi Designs Ltd - Filleted accounts

Maalmi Designs Ltd - Filleted accounts

MAALMI DESIGNS LTD - Company Information

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Registered number
09288330
Maalmi Designs Ltd
Filleted Accounts
31 October 2021
Maalmi Designs Ltd
Registered number: 09288330
Balance Sheet
as at 31 October 2021
Notes 2021 2020
£ £
Current assets
Debtors 4 4,160 -
Cash at bank and in hand 28,183 31,965
32,343 31,965
Creditors: amounts falling due within one year 5 (13,008) (950)
Net current assets 19,335 31,015
Net assets 19,335 31,015
Capital and reserves
Called up share capital 1 1
Profit and loss account 19,334 31,014
Shareholder's funds 19,335 31,015
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.
M Evans
Director
Approved by the board on 27 July 2022
Maalmi Designs Ltd
Notes to the Accounts
for the year ended 31 October 2021
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:
Plant and machinery 25% straight line basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2020 5,939
At 31 October 2021 5,939
Depreciation
At 1 November 2020 5,939
At 31 October 2021 5,939
Net book value
At 31 October 2021 -
4 Debtors 2021 2020
£ £
Other debtors 4,160 -
5 Creditors: amounts falling due within one year 2021 2020
£ £
Taxation and social security costs - 350
Other creditors 13,008 600
13,008 950
6 Other information
Maalmi Designs Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
582 Honeypot Lane
Middlesex
HA7 1JS
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