Osman Mughal MBCS Ltd
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Notes to the Accounts |
for the year ended 31 August 2017
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1 |
Accounting policies |
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Basis of preparation |
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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).
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Turnover |
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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 rendering of services.
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price).
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
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2 |
Employees |
2017 |
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2016 |
Number |
Number |
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Average number of persons employed by the company |
4 |
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2 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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Additions |
1,151 |
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At 31 August 2017 |
1,151 |
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Depreciation |
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Charge for the year |
67 |
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At 31 August 2017 |
67 |
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Net book value |
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At 31 August 2017 |
1,084 |
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4 |
Debtors |
2017 |
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2016 |
£ |
£ |
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Trade debtors |
5,400 |
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3,120 |
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Other debtors |
38,548 |
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37,729 |
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43,948 |
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40,849 |
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5 |
Creditors: amounts falling due within one year |
2017 |
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2016 |
£ |
£ |
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Bank loans and overdrafts |
1,559 |
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2,421 |
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Trade creditors |
- |
|
527 |
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Taxation and social security costs |
17,197 |
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13,479 |
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Other creditors |
105 |
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759 |
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18,861 |
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17,186 |
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6 |
Loans to directors |
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Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
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Osman Mughal
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Director Loan
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35,718 |
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715 |
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- |
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36,433 |
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35,718 |
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715 |
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- |
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36,433 |
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The loan is unsecured and interest free. |
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7 |
Controlling party |
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In the opinion of the director, the company is solely controlled by Osman Mughal.
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8 |
Other information |
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Osman Mughal MBCS Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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32 Salisbury Road |
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Moseley |
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Birmingham |
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B13 8JT |