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REGISTERED NUMBER: 07396292 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

MINSTER ELECTRONIC DESIGNS LTD

MINSTER ELECTRONIC DESIGNS LTD (REGISTERED NUMBER: 07396292)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MINSTER ELECTRONIC DESIGNS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: D Croxford





REGISTERED OFFICE: Church View Chambers
38 Market Square
Toddington
Bedfordshire
LU5 6BS





REGISTERED NUMBER: 07396292 (England and Wales)





ACCOUNTANTS: Landers Accountants Ltd
Church View Chambers
38 Market Square
Toddington
Bedfordshire
LU5 6BS

MINSTER ELECTRONIC DESIGNS LTD (REGISTERED NUMBER: 07396292)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,407 20,368

CURRENT ASSETS
Stocks 3,320 24,560
Debtors 5 9,949 11,812
Cash at bank 11,195 12,773
24,464 49,145
CREDITORS
Amounts falling due within one year 6 30,634 33,950
NET CURRENT (LIABILITIES)/ASSETS (6,170 ) 15,195
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,237

35,563

CREDITORS
Amounts falling due after more than one
year

7

(4,485

)

(6,310

)

PROVISIONS FOR LIABILITIES (3,852 ) (630 )
NET ASSETS 900 28,623

CAPITAL AND RESERVES
Called up share capital 40 40
Retained earnings 860 28,583
900 28,623

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

MINSTER ELECTRONIC DESIGNS LTD (REGISTERED NUMBER: 07396292)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 31 October 2023 and were signed by:





D Croxford - Director


MINSTER ELECTRONIC DESIGNS LTD (REGISTERED NUMBER: 07396292)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Minster Electronic Designs Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention and on a going concern basis.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

MINSTER ELECTRONIC DESIGNS LTD (REGISTERED NUMBER: 07396292)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 41,488 2,114 6,975 50,577
Additions 108 - 1,076 1,184
Disposals (3,912 ) - (4,367 ) (8,279 )
At 31 March 2023 37,684 2,114 3,684 43,482
DEPRECIATION
At 1 April 2022 23,076 1,026 6,107 30,209
Charge for year 4,610 218 473 5,301
Eliminated on disposal (3,420 ) - (4,015 ) (7,435 )
At 31 March 2023 24,266 1,244 2,565 28,075
NET BOOK VALUE
At 31 March 2023 13,418 870 1,119 15,407
At 31 March 2022 18,412 1,088 868 20,368

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 9,868 11,720
Other debtors 81 92
9,949 11,812

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 1,990 2,105
Hire purchase contracts - 4,034
Trade creditors 5,763 5,335
Taxation and social security 2,070 4,353
Other creditors 20,811 18,123
30,634 33,950

MINSTER ELECTRONIC DESIGNS LTD (REGISTERED NUMBER: 07396292)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 4,485 6,310