Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr M S Symons 06/08/2004 Mrs J Symons 06/08/2004 30 October 2023 The principal activity of the company during the financial year was that of plumbing and heating engineers 05199599 2023-03-31 05199599 bus:Director1 2023-03-31 05199599 bus:Director2 2023-03-31 05199599 2022-03-31 05199599 core:CurrentFinancialInstruments 2023-03-31 05199599 core:CurrentFinancialInstruments 2022-03-31 05199599 core:Non-currentFinancialInstruments 2023-03-31 05199599 core:Non-currentFinancialInstruments 2022-03-31 05199599 core:ShareCapital 2023-03-31 05199599 core:ShareCapital 2022-03-31 05199599 core:RetainedEarningsAccumulatedLosses 2023-03-31 05199599 core:RetainedEarningsAccumulatedLosses 2022-03-31 05199599 core:Goodwill 2022-03-31 05199599 core:Goodwill 2023-03-31 05199599 core:PlantMachinery 2022-03-31 05199599 core:Vehicles 2022-03-31 05199599 core:OfficeEquipment 2022-03-31 05199599 core:PlantMachinery 2023-03-31 05199599 core:Vehicles 2023-03-31 05199599 core:OfficeEquipment 2023-03-31 05199599 bus:OrdinaryShareClass1 2023-03-31 05199599 2022-04-01 2023-03-31 05199599 bus:FullAccounts 2022-04-01 2023-03-31 05199599 bus:SmallEntities 2022-04-01 2023-03-31 05199599 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05199599 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05199599 bus:Director1 2022-04-01 2023-03-31 05199599 bus:Director2 2022-04-01 2023-03-31 05199599 core:Goodwill core:TopRangeValue 2022-04-01 2023-03-31 05199599 core:PlantMachinery 2022-04-01 2023-03-31 05199599 core:Vehicles 2022-04-01 2023-03-31 05199599 core:OfficeEquipment core:TopRangeValue 2022-04-01 2023-03-31 05199599 2021-04-01 2022-03-31 05199599 core:OfficeEquipment 2022-04-01 2023-03-31 05199599 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 05199599 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 05199599 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05199599 (England and Wales)

MICHAEL S SYMONS MECHANICAL SERVICES LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

MICHAEL S SYMONS MECHANICAL SERVICES LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

MICHAEL S SYMONS MECHANICAL SERVICES LIMITED

BALANCE SHEET

As at 31 March 2023
MICHAEL S SYMONS MECHANICAL SERVICES LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 71,812 54,724
71,812 54,724
Current assets
Stocks 250 250
Debtors 5 30,398 23,705
Cash at bank and in hand 46,361 52,217
77,009 76,172
Creditors: amounts falling due within one year 6 ( 62,948) ( 50,884)
Net current assets 14,061 25,288
Total assets less current liabilities 85,873 80,012
Creditors: amounts falling due after more than one year 7 ( 70,000) ( 110,000)
Provision for liabilities ( 13,644) ( 11,113)
Net assets/(liabilities) 2,229 ( 41,101)
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 2,129 ( 41,201 )
Total shareholders' funds/(deficit) 2,229 ( 41,101)

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Michael S Symons Mechanical Services Limited (registered number: 05199599) were approved and authorised for issue by the Board of Directors on 30 October 2023. They were signed on its behalf by:

Mr M S Symons
Director
MICHAEL S SYMONS MECHANICAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
MICHAEL S SYMONS MECHANICAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Michael S Symons Mechanical Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Fairview House, Axtown Lane, Yelverton, Devon, PL20 6BU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance
Office equipment 3.33 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2022 60,000 60,000
At 31 March 2023 60,000 60,000
Accumulated amortisation
At 01 April 2022 60,000 60,000
At 31 March 2023 60,000 60,000
Net book value
At 31 March 2023 0 0
At 31 March 2022 0 0

4. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 April 2022 71,505 86,764 9,900 168,169
Additions 937 33,109 1,372 35,418
Disposals 0 ( 21,499) 0 ( 21,499)
At 31 March 2023 72,442 98,374 11,272 182,088
Accumulated depreciation
At 01 April 2022 43,841 61,125 8,479 113,445
Charge for the financial year 4,290 6,410 828 11,528
Disposals 0 ( 14,697) 0 ( 14,697)
At 31 March 2023 48,131 52,838 9,307 110,276
Net book value
At 31 March 2023 24,311 45,536 1,965 71,812
At 31 March 2022 27,664 25,639 1,421 54,724

5. Debtors

2023 2022
£ £
Trade debtors 28,440 20,906
Other debtors 1,958 2,799
30,398 23,705

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 2,905 2,412
Taxation and social security 5,765 10,927
Other creditors 54,278 37,545
62,948 50,884

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 70,000 110,000

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100