0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,850 1,075 370 1,445 405 775 42,096 42,096 1,435 1,435 40,661 xbrli:pure xbrli:shares iso4217:GBP 11965937 2022-05-01 2023-04-30 11965937 2023-04-30 11965937 2022-04-30 11965937 2021-05-01 2022-04-30 11965937 2022-04-30 11965937 2021-04-30 11965937 core:PlantMachinery 2022-05-01 2023-04-30 11965937 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 11965937 bus:OrdinaryShareClass2 2022-05-01 2023-04-30 11965937 bus:Director1 2022-05-01 2023-04-30 11965937 bus:Director2 2022-05-01 2023-04-30 11965937 core:PlantMachinery 2023-04-30 11965937 core:WithinOneYear 2023-04-30 11965937 core:WithinOneYear 2022-04-30 11965937 core:ShareCapital 2023-04-30 11965937 core:ShareCapital 2022-04-30 11965937 core:RetainedEarningsAccumulatedLosses 2023-04-30 11965937 core:RetainedEarningsAccumulatedLosses 2022-04-30 11965937 core:BetweenOneFiveYears 2023-04-30 11965937 bus:SmallEntities 2022-05-01 2023-04-30 11965937 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 11965937 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 11965937 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 11965937 bus:FullAccounts 2022-05-01 2023-04-30 11965937 bus:OrdinaryShareClass1 2023-04-30 11965937 bus:OrdinaryShareClass1 2022-04-30 11965937 bus:OrdinaryShareClass2 2023-04-30 11965937 bus:AllOrdinaryShares 2023-04-30 11965937 bus:AllOrdinaryShares 2022-04-30 11965937 core:RecipesFormulaeModelsDesignsPrototypes 2022-05-01 2023-04-30 11965937 core:RecipesFormulaeModelsDesignsPrototypes 2023-04-30 11965937 core:RecipesFormulaeModelsDesignsPrototypes 2022-04-30 11965937 core:AccountingPolicyChangeIncreaseDecrease bus:Director1 2022-05-01 2023-04-30
COMPANY REGISTRATION NUMBER: 11965937
Munyard Limited
Filleted Unaudited Financial Statements
30 April 2023
Munyard Limited
Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
3
405
775
Tangible assets
4
40,661
-------
----
41,066
775
Current assets
Stocks
2,671
Debtors
5
5,569
15
Cash at bank and in hand
27,539
18,975
-------
-------
35,779
18,990
Prepayments and accrued income
284
Creditors: amounts falling due within one year
6
134,509
39,009
--------
-------
Net current liabilities
98,446
20,019
-------
-------
Total assets less current liabilities
( 57,380)
( 19,244)
Accruals and deferred income
680
612
-------
-------
Net liabilities
( 58,060)
( 19,856)
-------
-------
Capital and reserves
Called up share capital
7
100
100
Profit and loss account
( 58,160)
( 19,956)
-------
-------
Shareholders deficit
( 58,060)
( 19,856)
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Munyard Limited
Statement of Financial Position (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 16 October 2023 , and are signed on behalf of the board by:
O. Munyard
R. Munyard
Director
Director
Company registration number: 11965937
Munyard Limited
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered and trading in England and Wales with company number 11965937 . The address of the registered office is 9 Hurst Road, Coventry, CV6 6EG, United Kingdom.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity, rounded to the nearest £.
Going concern
The continuation of the company's affairs is dependant upon the support of the directors. These accounts have been prepared on a going concern basis which assumes their support for the foreseeable future.
Judgements and key sources of estimation uncertainty
In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Recipes and formulas
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
The company only has basic financial instruments. - Financial assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.
3. Intangible assets
Recipes and formulas
£
Cost
At 1 May 2022 and 30 April 2023
1,850
------
Amortisation
At 1 May 2022
1,075
Charge for the year
370
------
At 30 April 2023
1,445
------
Carrying amount
At 30 April 2023
405
------
At 30 April 2022
775
------
4. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 May 2022
Additions
42,096
42,096
-------
-------
At 30 April 2023
42,096
42,096
-------
-------
Depreciation
At 1 May 2022
Charge for the year
1,435
1,435
-------
-------
At 30 April 2023
1,435
1,435
-------
-------
Carrying amount
At 30 April 2023
40,661
40,661
-------
-------
At 30 April 2022
-------
-------
5. Debtors
2023
2022
£
£
Other debtors
5,569
15
------
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
134,509
39,009
--------
-------
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary A shares of £ 1 each
75
75
100
100
Ordinary B shares of £ 1 each
25
25
----
----
----
----
100
100
100
100
----
----
----
----
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
13,500
Later than 1 year and not later than 5 years
6,750
-------
----
20,250
-------
----
9. Directors' advances, credits and guarantees
At the reporting date the directors loan account was in credit by £134,509 (2022: £39,009). There is no fixed term for repayment and no interest is charged.