2021-11-30-accounts

Registered number 05631217

Charity registered number 1127256

MUAIC LIMITED

Report and Accounts

30 November 2021

MUAIC LIMITED Company Information

Directors

M.A.Awal Marzooque Billah M. Kabir Maruf Billah A.S. Iman G. Quhill M.A. Saud H. Ullah

Accountants

Ahmad Accountants 28 Shaftmoor Lane Acocks Green Birmingham West Midlands B27 7RS

Bankers

HSBC Bank plc 96 High Street King Heath Birmingham West Midlands B14 7LD

Registered office

406 Bordesley Green Bordesley Green Birmingham West Midlands B9 5NE

Registered number 05631217

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MUAIC LIMITED Registered number: Directors' Report

05631217

The directors present their report and accounts for the year ended 30 November 2021.

Principal activities

The company's principal activity during the year continued to be as a charitable organisation. The company is a charity registered with the Charity Commission. Directors

The following persons served as directors during the year:

M.A.Awal Marzooque Billah M. Kabir Maruf Billah A.S. Iman G. Quhill M.A. Saud H. Ullah

Small company provisions

This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 24 June 2022 and signed on its behalf.

M. Billah Director

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MUAIC LIMITED

Profit and Loss Account for the year ended 30 November 2021

Incoming resources Resources expended Other operating income Net movement of funds before taxation Net Movement of funds Tax on ordinary activities Net movement of funds after taxation	2021 £ 36,508 (42,082) 860 (4,714) (4,714) - (4,714)	2020 £ 21,416 (18,491) -
		2,925
		2,925 -
		2,925

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MUAIC LIMITED Registered number: 05631217 Balance Sheet as at 30 November 2021

Notes Fixed assets Tangible assets 2 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 3 Net current liabilities Net assets Capital and reserves Profit and loss account Shareholders' funds	2021 £ 184,229 1,106 (70,387) (69,281) 114,948 114,948 114,948	2020 £ 184,229 5,709 (70,276) (64,567) 119,662 119,662 119,662	2020 £ 184,229 5,709 (70,276) (64,567) 119,662 119,662 119,662
			119,662
			119,662
			119,662

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Act.

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.

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. Billah Director Approved by the board on 24 June 2022

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MUAIC LIMITED Notes to the Accounts for the year ended 30 November 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.

Intangible fixed assets

Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

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:

Freehold buildings over 50 years Leasehold land and buildings over the lease term Plant and machinery over 5 years Fixtures, fittings, tools and equipment over 5 years

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

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MUAIC LIMITED Notes to the Accounts for the year ended 30 November 2021

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Leased assets

A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

Pensions

Contributions to defined contribution plans are expensed in the period to which they relate.

2 Tangible fixed assets

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MUAIC LIMITED

Notes to the Accounts for the year ended 30 November 2021

Cost At 1 December 2020 At 30 November 2021 Depreciation At 30 November 2021 Net book value At 30 November 2021 At 30 November 2020 3 Creditors: amounts falling due within one year Trade creditors Taxation and social security costs	2021 £ 69,570 817 70,387	Land and buildings £ 184,229
		184,229
		-
		184,229
		184,229
		2020 £ 69,711 565
		70,276

4 Other information

MUAIC LIMITED is a private company limited by shares and incorporated in England. Its registered office is: 406 Bordesley Green

Bordesley Green Birmingham West Midlands B9 5NE

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MUAIC LIMITED

Detailed profit and loss account for the year ended 30 November 2021

This schedule does not form part of the statutory accounts

Incoming resources Resources expended Other operating income Net movement of funds Net movement of funds before taxation	2021 £ 36,508 (42,082) 860 (4,714) (4,714)	2020 £ 21,416 (18,491) -
		2,925
		2,925

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MUAIC LIMITED

Detailed profit and loss account for the year ended 30 November 2021

This schedule does not form part of the statutory accounts

Sales Sales Administrative expenses Employee costs: Wages and salaries Pensions Premises costs: Light and heat Cleaning General administrative expenses: Telephone and fax Donations Bank charges Sundry expenses Legal and professional costs: Accountancy fees Other operating income Other operating income	2021 £ 36,508 22,755 71 22,826 1,420 649 2,069 424 15,900 373 40 16,737 450 450 42,082 860	2020 £ 21,416
		12,484 101
		12,585
		1,116 1,150
		2,266
		422 2,500 228 40
		3,190
		450
		450
		18,491
		-

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