REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st August 2023 |
for |
Mellcrest Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st August 2023 |
for |
Mellcrest Limited |
Mellcrest Limited (Registered number: 02212481) |
Contents of the Financial Statements |
for the Year Ended 31st August 2023 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Mellcrest Limited (Registered number: 02212481) |
Balance Sheet |
31st August 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
Mellcrest Limited (Registered number: 02212481) |
Balance Sheet - continued |
31st August 2023 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Mellcrest Limited (Registered number: 02212481) |
Notes to the Financial Statements |
for the Year Ended 31st August 2023 |
1. | STATUTORY INFORMATION |
Mellcrest Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
Turnover |
Turnover represents net invoiced sales, excluding value added tax. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
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 tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Mellcrest Limited (Registered number: 02212481) |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 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 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st September 2022 |
Additions |
Disposals | ( |
) |
At 31st August 2023 |
DEPRECIATION |
At 1st September 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31st August 2023 |
NET BOOK VALUE |
At 31st August 2023 |
At 31st August 2022 |
Mellcrest Limited (Registered number: 02212481) |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
At 31st August 2023 |
DEPRECIATION |
Charge for year |
At 31st August 2023 |
NET BOOK VALUE |
At 31st August 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 8) |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Hire purchase contracts (see note 8) |
Mellcrest Limited (Registered number: 02212481) |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2023 |
8. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable | operating leases |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
Hire purchase contracts | 14,511 | 21,452 |
The bank loan is secured on a fixed and floating charge over Unit 7 Curo Park, Frogmore, St Albans, Hertfordshire, United Kingdom, AL2 2D. The hire purchase creditor is secured by the two assets to which they relate to. |
Mellcrest Limited (Registered number: 02212481) |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2023 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the year ended 31 August 2023 and the year ended 31 August 2022. |
2023 | 2022 |
£ | £ |
R Hackman & S Hackman |
Amounts Advanced | 64,489 | 36,708 |
Amounts Repaid | (101,315 | ) | (64,006 | ) |
B Flatter |
Amounts Advanced | 85,280 | 87,211 |
Amounts Repaid | (84,000 | ) | (87,500 | ) |
S A Hackman |
Amounts Advanced | 42,173 | 36,696 |
Amounts Repaid | (73,000 | ) | (38,700 | ) |
J P Gold |
Amounts Advanced | 50,182 | 20,435 |
Amounts Repaid | (74,500 | ) | (20,500 | ) |
The loan to the director is repayable on demand. Interest is charged on loans at the official rate set by HMRC. |
11. | ULTIMATE CONTROLLING PARTY |
The ultimate parent company is Park Street Holdings Limited a private company, limited by shares, |
registered in England and Wales. Registered number is 12063797 and registered office is Unit 7 Curo Park, |
Frogmore, St Albans, Hertfordshire, United Kingdom, AL2 2D. |