REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2021 |
FOR |
MISTRAL ENERGY PRODUCTS LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2021 |
FOR |
MISTRAL ENERGY PRODUCTS LIMITED |
MISTRAL ENERGY PRODUCTS LIMITED (REGISTERED NUMBER: 03587722) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2021 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Statement of Financial Position | 3 |
Notes to the Financial Statements | 5 |
MISTRAL ENERGY PRODUCTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2021 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Salisbury House |
11 Queen Street |
Wellington |
Telford |
Shropshire |
TF1 1EH |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
MISTRAL ENERGY PRODUCTS LIMITED |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mistral Energy Products Limited for the year ended 31 August 2021 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Mistral Energy Products Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mistral Energy Products Limited and state those matters that we have agreed to state to the director of Mistral Energy Products Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mistral Energy Products Limited and its director for our work or for this report. |
It is your duty to ensure that Mistral Energy Products Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mistral Energy Products Limited. You consider that Mistral Energy Products Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Mistral Energy Products Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Salisbury House |
11 Queen Street |
Wellington |
Telford |
Shropshire |
TF1 1EH |
MISTRAL ENERGY PRODUCTS LIMITED (REGISTERED NUMBER: 03587722) |
STATEMENT OF FINANCIAL POSITION |
31 AUGUST 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
MISTRAL ENERGY PRODUCTS LIMITED (REGISTERED NUMBER: 03587722) |
STATEMENT OF FINANCIAL POSITION - continued |
31 AUGUST 2021 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
MISTRAL ENERGY PRODUCTS LIMITED (REGISTERED NUMBER: 03587722) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2021 |
1. | STATUTORY INFORMATION |
Mistral Energy Products Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances. |
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
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 Statement of Income and Retained Earnings, 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. |
MISTRAL ENERGY PRODUCTS LIMITED (REGISTERED NUMBER: 03587722) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2021 |
2. | ACCOUNTING POLICIES - continued |
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. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 September 2020 |
Additions |
Disposals | ( |
) |
At 31 August 2021 |
DEPRECIATION |
At 1 September 2020 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 August 2021 |
NET BOOK VALUE |
At 31 August 2021 |
At 31 August 2020 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
Taxation and social security | ( |
) |
Other creditors |
MISTRAL ENERGY PRODUCTS LIMITED (REGISTERED NUMBER: 03587722) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2021 |
7. | RELATED PARTY DISCLOSURES |
The sole director and shareholder, Mr J Wright, is also the sole director and shareholder of Telcoat Limited, a company incorporated in England and Wales. During the period Telcoat Limited has recharged property costs and fixed asset rental charges to a value of £84,000 (2020: £84,000) and royalty fees to a value of £5,000 (2020: £nil). These transactions have been undertaken on normal commercial terms. |
The sole director and shareholder, Mr J Wright, is also the sole director and shareholder of Telford Sheet Metal Limited, a company incorporated in England and Wales. During the period Telford Sheet Metal Limited has sold direct materials to Mistral Energy Products Limited to a value of £509,084 (2020: £473,850). These transactions have been undertaken on normal commercial terms. |
8. | ULTIMATE CONTROLLING PARTY |
The controlling party is J Wright. |
The ultimate controlling party is |