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REGISTERED NUMBER: 10505530 (England and Wales)















MJ EVANS FENCING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






MJ EVANS FENCING LTD (REGISTERED NUMBER: 10505530)






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


MJ EVANS FENCING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: M J Evans
Mrs C E Evans





REGISTERED OFFICE: Penrhos
Broxwood
Pembridge
Leominster
HR6 9JR





REGISTERED NUMBER: 10505530 (England and Wales)





ACCOUNTANTS: Davies Edwards & Co
Chartered Certified Accountants
West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ

MJ EVANS FENCING LTD (REGISTERED NUMBER: 10505530)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 187,088 130,403
187,088 130,403

CURRENT ASSETS
Stocks 41,582 41,274
Debtors 6 81,889 12,378
Cash at bank 26,183 70,630
149,654 124,282
CREDITORS
Amounts falling due within one year 7 177,793 152,999
NET CURRENT LIABILITIES (28,139 ) (28,717 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

158,949

101,686

CREDITORS
Amounts falling due after more than one
year

8

(51,417

)

(67,292

)

PROVISIONS FOR LIABILITIES (35,547 ) (24,777 )
NET ASSETS 71,985 9,617

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 71,885 9,517
SHAREHOLDERS' FUNDS 71,985 9,617

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 directors acknowledge their 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.

MJ EVANS FENCING LTD (REGISTERED NUMBER: 10505530)

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 Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by:





M J Evans - Director


MJ EVANS FENCING LTD (REGISTERED NUMBER: 10505530)

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

1. STATUTORY INFORMATION

MJ Evans Fencing 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Formation costs
Formation costs have been fully amortised in the first year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

MJ EVANS FENCING LTD (REGISTERED NUMBER: 10505530)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 3 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 179
AMORTISATION
At 1 April 2022
and 31 March 2023 179
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

MJ EVANS FENCING LTD (REGISTERED NUMBER: 10505530)

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

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 182,024 79,803 915 262,742
Additions 65,811 74,145 1,858 141,814
Disposals (39,421 ) (17,750 ) - (57,171 )
At 31 March 2023 208,414 136,198 2,773 347,385
DEPRECIATION
At 1 April 2022 82,177 49,414 748 132,339
Charge for year 27,652 25,082 786 53,520
Eliminated on disposal (12,024 ) (13,538 ) - (25,562 )
At 31 March 2023 97,805 60,958 1,534 160,297
NET BOOK VALUE
At 31 March 2023 110,609 75,240 1,239 187,088
At 31 March 2022 99,847 30,389 167 130,403

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 82,000 25,042 107,042
Additions 35,500 62,795 98,295
Transfer to ownership (22,500 ) (25,042 ) (47,542 )
At 31 March 2023 95,000 62,795 157,795
DEPRECIATION
At 1 April 2022 29,917 14,478 44,395
Charge for year 12,793 15,699 28,492
Transfer to ownership 1,116 (14,478 ) (13,362 )
At 31 March 2023 43,826 15,699 59,525
NET BOOK VALUE
At 31 March 2023 51,174 47,096 98,270
At 31 March 2022 52,083 10,564 62,647

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 51,701 10,545
Social security and other tax 1,384 1,324
Directors' current accounts 19,476 -
VAT 8,276 -
Prepayments and accrued income 1,052 509
81,889 12,378

MJ EVANS FENCING LTD (REGISTERED NUMBER: 10505530)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 76,675 20,500
Trade creditors 72,292 30,751
Tax 3,139 2,866
Social security and other taxes 40 -
VAT - 67,826
Credit card 1,747 431
Directors' current accounts - 14,100
Accruals and deferred income 13,900 6,525
177,793 152,999

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 11,666 21,667
Hire purchase contracts 29,751 35,625
51,417 67,292

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 April 2022 9,517
Profit for the year 90,368
Dividends (28,000 )
At 31 March 2023 71,885

MJ EVANS FENCING LTD (REGISTERED NUMBER: 10505530)

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

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
M J Evans and Mrs C E Evans
Balance outstanding at start of year (14,100 ) (21,385 )
Amounts advanced 71,455 31,011
Amounts repaid (37,879 ) (23,726 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 19,476 (14,100 )

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £28,000 (2022 - £20,000) were paid to the directors .

M J and Mrs C E Evans also traded in partnership as Tibhall Free Range Eggs.

The company has not traded with this partnership during the year (2022, not traded).

Rent was charged by Tibhall Free Range Eggs during this year of £2,500 (2022, £2,500).