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REGISTERED NUMBER: 10714294 (England and Wales)













Financial Statements

for the Year Ended 31 March 2023

for

M W In-Phase Safety Ltd

M W In-Phase Safety Ltd (Registered number: 10714294)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


M W In-Phase Safety Ltd

Company Information
for the year ended 31 March 2023







DIRECTOR: Mr M Wood



REGISTERED OFFICE: Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



REGISTERED NUMBER: 10714294 (England and Wales)



ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



BANKERS: Santander
Bridle Road
BOOTLE
Merseyside
L30 4GB

M W In-Phase Safety Ltd (Registered number: 10714294)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 184 245

CURRENT ASSETS
Debtors 5 68,889 17,801
Cash at bank 6,787 63,413
75,676 81,214
CREDITORS
Amounts falling due within one year 6 7,439 4,595
NET CURRENT ASSETS 68,237 76,619
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,421

76,864

PROVISIONS FOR LIABILITIES 35 47
NET ASSETS 68,386 76,817

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 68,286 76,717
SHAREHOLDERS' FUNDS 68,386 76,817

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.

M W In-Phase Safety Ltd (Registered number: 10714294)

Statement of Financial Position - 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 by the director and authorised for issue on 14 November 2023 and were signed by:





Mr M Wood - Director


M W In-Phase Safety Ltd (Registered number: 10714294)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

M W In-Phase Safety 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.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated by the directors and are based on historical experience and other relevant factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.
Computer equipment - 25% on reducing balance

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

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 statement of financial position date.


M W In-Phase Safety Ltd (Registered number: 10714294)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

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 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 510
DEPRECIATION
At 1 April 2022 265
Charge for year 61
At 31 March 2023 326
NET BOOK VALUE
At 31 March 2023 184
At 31 March 2022 245

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 1,500 8,592
Tax 7,389 9,209
8,889 17,801

M W In-Phase Safety Ltd (Registered number: 10714294)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

5. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Other debtors 60,000 -

Aggregate amounts 68,889 17,801

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax - 2,816
Directors' current accounts 6,176 584
Accruals and deferred income 1,263 1,195
7,439 4,595

7. RELATED PARTY DISCLOSURES

Within the 31 March 2023 year a loan of £60,000 was made to a company in which J E Wood is director and majority shareholder. J E Wood is the wife of M Wood. This is an unsecured loan.