Company Registration No. 06549590 (England and Wales)
4MA Limited
ANNUAL REPORT AND UNAUDITED ACCOUNTS
for the year ended 31 March 2022
4MA Limited
Company Information
for the year ended 31 March 2022
Company Number
06549590 (England and Wales)
Registered Office
18 Greek Street
Soho
London
Greater London
W1D 4DS
Accountants
Solid Ltd
Eagle House
163 City Road
London
EC1V 1NR
4MA Limited
Statement of financial position
as at
31 March 2022
Tangible assets
1,472,188
1,447,045
Investment property
850,000
850,000
Investments
49,773
49,773
Inventories
47,879
36,467
Cash at bank and in hand
466
10,072
Creditors: amounts falling due within one year
(671,279)
(546,410)
Net current assets
20,542
113,984
Total assets less current liabilities
2,392,503
2,460,802
Creditors: amounts falling due after more than one year
(1,155,724)
(1,234,931)
Provisions for liabilities
Deferred tax
(140,149)
(140,149)
Net assets
1,096,630
1,085,722
Called up share capital
100
100
Revaluation reserve
597,479
597,479
Profit and loss account
499,051
488,143
Shareholders' funds
1,096,630
1,085,722
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 October 2022 and were signed on its behalf by
Mr Ilir Morina
Director
Company Registration No. 06549590
4MA Limited
Notes to the Accounts
for the year ended 31 March 2022
4MA Limited is a private company, limited by shares, registered in England and Wales, registration number 06549590. The registered office is 18 Greek Street , Soho , London, Greater London, W1D 4DS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
over 5 years
Fixtures & fittings
over 5 years
Computer equipment
over 5 years
Other tangible fixed assets
over 5 years
WIP's have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
4MA Limited
Notes to the Accounts
for the year ended 31 March 2022
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The corona-virus had have a significant impact on a large number of businesses including the company. Thus the director is aware of certain material uncertainties which may cast doubt over the company's ability to continue as a going concern.
The director is continually assessing the impact of the corona-virus on its customers and employees. The company operates in construction design and build sector.
A number of measures have been implemented, predominantly surrounding the significant reduction of overheads where possible. The director has prepared detailed cash flow forecasts for the next few months which indicate that the company has adequate cash resources for that period.
After considering the potential impact of the above, at the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the statutory financial statements.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
4MA Limited
Notes to the Accounts
for the year ended 31 March 2022
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2021
1,463,452
8,000
97,986
603
1,570,041
Additions
24,965
-
-
415
25,380
At 31 March 2022
1,488,417
8,000
97,986
1,018
1,595,421
At 1 April 2021
42,870
8,000
72,076
50
122,996
Charge for the year
-
-
-
237
237
At 31 March 2022
42,870
8,000
72,076
287
123,233
At 31 March 2022
1,445,547
-
25,910
731
1,472,188
At 31 March 2021
1,420,582
-
25,910
553
1,447,045
5
Investment property
2022
Fair value at 1 April 2021
850,000
6
Investments
Other investments
Valuation at 1 April 2021
49,773
Valuation at 31 March 2022
49,773
Amounts falling due within one year
Trade debtors
21,615
66,126
Amounts due from group undertakings etc.
394,027
424,582
Accrued income and prepayments
99,908
119,033
Other debtors
124,017
4,114
4MA Limited
Notes to the Accounts
for the year ended 31 March 2022
8
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
115,780
92,905
Obligations under finance leases and hire purchase contracts
-
5,853
Trade creditors
224,560
210,037
Amounts owed to group undertakings and other participating interests
81,191
64,712
Taxes and social security
131,837
83,241
Loans from directors
-
7,136
Deferred income
61,598
79,598
9
Creditors: amounts falling due after more than one year
2022
2021
Bank loans
1,155,724
1,234,931
Aggregate of amounts that fall due for payment after five years
482,857
982,857
VIDA LOANS - Property: Warple Mews - £482,857 - interest only loan, due to be paid in 20 years, secured against the property.
HSBC Mortgage - Property Upperfairfield: balance @ 2021 - 641,199 - mortgage loan secured against the property at Uperfairfield
10
Share capital
2022
2021
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
11
Operating lease commitments
2022
2021
At 31 March 2022 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
-
5,853
4MA Limited
Notes to the Accounts
for the year ended 31 March 2022
12
Transactions with related parties
4M Works Ltd (Co. No. 07341221) Company is controlled by Mr Perparim Rama. Loans given to 4M Works Ltd £340,856
Amount above is due to 4MA Ltd.
London Oda Ltd (Co. No. 10781636) Company was controlled by Mr Perparim Rama. Loans given to London Oda Ltd Ltd £50,471.
Amount above was cleared after March 2022.
Microcemento Ltd (Co. No. 09246204) Company is controlled by Mr Perparim Rama. Loans given to 4MA Ltd £12,527.
Amount above is due to 4MA Ltd.
Studiorama Ltd (Co. No. 05104112) Company is controlled by Mr Perparim Rama. Loans given to Studiorama Ltd £2,700.
Amount above is due to 4MA Ltd.
Non-Linear-Matrix Ltd (Co. No. 05225572) Company is controlled by Mr Perparim Rama. Loans given to 4MA Ltd Ltd £68,664.
Amount above is due by 4MA Ltd.
13
Average number of employees
During the year the average number of employees was 6 (2021: 8).