Mustud Limited 12171748 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is that of property development and other property investments Digita Accounts Production Advanced 6.30.9574.0 true true 12171748 2022-09-01 2023-08-31 12171748 2023-08-31 12171748 bus:OrdinaryShareClass1 2023-08-31 12171748 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 12171748 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 12171748 core:OtherPropertyPlantEquipment 2023-08-31 12171748 bus:SmallEntities 2022-09-01 2023-08-31 12171748 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 12171748 bus:AbridgedAccounts 2022-09-01 2023-08-31 12171748 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 12171748 bus:RegisteredOffice 2022-09-01 2023-08-31 12171748 bus:Director1 2022-09-01 2023-08-31 12171748 bus:Director2 2022-09-01 2023-08-31 12171748 bus:Director3 2022-09-01 2023-08-31 12171748 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 12171748 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12171748 core:OtherPropertyPlantEquipment 2022-09-01 2023-08-31 12171748 core:PlantMachinery 2022-09-01 2023-08-31 12171748 countries:EnglandWales 2022-09-01 2023-08-31 12171748 2022-08-31 12171748 core:OtherPropertyPlantEquipment 2022-08-31 12171748 2021-09-01 2022-08-31 12171748 2022-08-31 12171748 bus:OrdinaryShareClass1 2022-08-31 12171748 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 12171748 core:Non-currentFinancialInstruments core:AfterOneYear 2022-08-31 12171748 core:OtherPropertyPlantEquipment 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12171748

Mustud Limited

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 August 2023

 

Mustud Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Mustud Limited

Company Information

Directors

Mr H Studley

Mr R Munkley

Mr P Dunning

Registered office

Unit 6
Viaduct Road
Gwaelod Y Garth
Cardiff
CF15 9JN

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Mustud Limited

(Registration number: 12171748)
Abridged Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,192

13,232

Current assets

 

Stocks

5

189,991

188,854

Cash at bank and in hand

 

4,720

10,450

 

194,711

199,304

Prepayments and accrued income

 

2,065

-

Creditors: Amounts falling due within one year

6

(212,685)

(95,909)

Net current (liabilities)/assets

 

(15,909)

103,395

Total assets less current liabilities

 

(8,717)

116,627

Creditors: Amounts falling due after more than one year

7

-

(115,158)

Accruals and deferred income

 

(500)

(450)

Net (liabilities)/assets

 

(9,217)

1,019

Capital and reserves

 

Called up share capital

8

120

120

Retained earnings

(9,337)

899

Shareholders' (deficit)/funds

 

(9,217)

1,019

 

Mustud Limited

(Registration number: 12171748)
Abridged Balance Sheet as at 31 August 2023

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2023 and signed on its behalf by:
 

.........................................

Mr H Studley
Director

 

Mustud Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 6
Viaduct Road
Gwaelod Y Garth
Cardiff
CF15 9JN

These financial statements were authorised for issue by the Board on 31 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors consider the going concern basis of preparing the accounts to be appropriate because, in their opinion, the company will continue to secure access to sufficient funding to enable it to pay its debts as they fall due. Accordingly the financial statements have been prepared on the going concern basis.

Revenue recognition

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.

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.

 

Mustud Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Mustud Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Mustud Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 September 2022

30,200

30,200

At 31 August 2023

30,200

30,200

Depreciation

At 1 September 2022

16,968

16,968

Charge for the year

6,040

6,040

At 31 August 2023

23,008

23,008

Carrying amount

At 31 August 2023

7,192

7,192

At 31 August 2022

13,232

13,232

5

Stocks

2023
£

2022
£

Other inventories

189,991

188,854

6

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £115,273 (2022 - £3,480).

7

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £nil (2022 - £115,158).

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

120

120

120

120