Majid And Sons (Service Stations) Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 05188276 (England and Wales)

Majid And Sons (Service Stations)

Limited

Financial Statements for the Year Ended 30 September 2022

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Intangible assets

4

38,000

57,000

Tangible assets

5

1,677,714

1,717,042

1,715,714

1,774,042

Current assets

Stocks

6

133,651

108,651

Debtors

7

1,010,278

1,171,632

Cash at bank and in hand

550,003

333,178

1,693,932

1,613,461

Creditors

Amounts falling due within one year

8

(290,635

)

(272,338

)

Net current assets

1,403,297

1,341,123

Total assets less current liabilities

3,119,011

3,115,165

Creditors

Amounts falling due after more than one year

9

(185,227

)

(256,932

)

Provisions for liabilities

11

(122,716

)

(122,716

)

Net assets

2,811,068

2,735,517

Capital and reserves

Called up share capital

12

2

2

Retained earnings

13

2,811,066

2,735,515

Shareholders' funds

2,811,068

2,735,517

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 September 2022 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 30 June 2023 and were signed on its behalf by:

Abdul Majid - Director

Tariq Majid - Director

1.	Statutory information

Majid And Sons (Service Stations) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05188276

Registered office:

Marshall House, Suite 21/25

124 Middleton Road

Morden

SM4 6RW

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 19 (2021 - 17 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 October 2021

and 30 September 2022

1,345,000

Amortisation

At 1 October 2021

1,288,000

Amortisation for year

19,000

At 30 September 2022

1,307,000

Net book value

At 30 September 2022

38,000

At 30 September 2021

57,000

5.	Tangible fixed assets

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Cost

At 1 October 2021

1,757,933

573,203

216,796

116,543

2,664,475

Additions

-

-

-

31,458

31,458

At 30 September 2022

1,757,933

573,203

216,796

148,001

2,695,933

Depreciation

At 1 October 2021

217,226

498,048

205,944

26,215

947,433

Charge for year

34,821

7,516

3,052

25,397

70,786

At 30 September 2022

252,047

505,564

208,996

51,612

1,018,219

Net book value

At 30 September 2022

1,505,886

67,639

7,800

96,389

1,677,714

At 30 September 2021

1,540,707

75,155

10,852

90,328

1,717,042

6.

Stocks

30.9.22

30.9.21

£

£

Finished goods

133,651

108,651

7.

Debtors: amounts falling due within one year

30.9.22

30.9.21

£

£

Trade debtors

77,367

69,250

Other debtors

803,796

973,267

Long term contracts

102,000

102,000

Staff loans

27,115

27,115

1,010,278

1,171,632

8.

Creditors: amounts falling due within one year

30.9.22

30.9.21

£

£

Bank loans and overdrafts (see note 10)

13,091

13,091

Trade creditors

110,541

150,079

Corporation tax

99,943

65,334

Social security and other taxes

2,408

2,390

VAT

64,652

41,444

290,635

272,338

9.

Creditors: amounts falling due after more than one year

30.9.22

30.9.21

£

£

Bank loans (see note 10)

185,227

256,932

10.

Loans

An analysis of the maturity of loans is given below:

30.9.22

30.9.21

£

£

Amounts falling due within one year or on demand:

Bank loans < 1 year

13,091

13,091

Amounts falling due between one and two years:

Bank loans > 1 year

185,227

256,932

11.	Provisions for liabilities

30.9.22

30.9.21

£

£

Deferred tax

122,716

122,716

**	CLIENT SCREEN - PROVISIONS FOR LIABILITIES AND CHARGES - MOVEMENTS IN PROVISIONS ETC - SHOULD BE COMPLETED IN RESPECT OF DEFERRED TAX

Please note: a deferred tax asset should be entered as a negative balance (i.e. include a "-" sign)

12.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.22

30.9.21

value:

£

£

2

Ordinary shares

1

2

2

13.

Reserves

Retained

earnings

£

At 1 October 2021

2,735,515

Profit for the year

75,551

At 30 September 2022

2,811,066