Master Home Discount Warehouse Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09957805 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2021

FOR

MASTER HOME DISCOUNT WAREHOUSE LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr T Farrukh

REGISTERED OFFICE:

574-576 Stoney Stanton Road

Coventry

Warwickshire

CV6 5FS

REGISTERED NUMBER:

09957805 (England and Wales)

ACCOUNTANTS:

Watergates Ltd

109 Coleman Road

Leicester

LE5 4LE

CURRENT ASSETS

Stocks

70,180

76,525

Cash at bank and in hand

43,762

6,187

113,942

82,712

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

4

(71,172

)

(76,482

)

NET CURRENT ASSETS

42,770

6,230

TOTAL ASSETS LESS CURRENT LIABILITIES

42,770

6,230

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

5

(28,000

)

-

NET ASSETS

14,770

6,230

CAPITAL AND RESERVES

Called up share capital

6

1

1

Retained earnings

14,769

6,229

SHAREHOLDERS' FUNDS

14,770

6,230

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2021.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st January 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 21st October 2021 and were signed by:

Mr T Farrukh - Director

1.	STATUTORY INFORMATION

Master Home Discount Warehouse Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 3 ) .

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/21

31/1/20

£

£

Trade creditors

3,165

13,485

Taxation and social security

5,819

4,299

Other creditors

62,188

58,698

71,172

76,482

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/1/21

31/1/20

£

£

Bank loans

28,000

-

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/1/21

31/1/20

value:

£

£

1

Ordinary

£1

1

1

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st January 2021 and 31st January 2020:

31/1/21

31/1/20

£

£

Mr T Farrukh

Balance outstanding at start of year

(57,008

)

(48,571

)

Amounts advanced

(2,780

)

(8,437

)

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(59,788

)

(57,008

)