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REGISTERED NUMBER: 04489928 (England and Wales)















MICHAEL BASS GRIMSBY LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2023






MICHAEL BASS GRIMSBY LIMITED (REGISTERED NUMBER: 04489928)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


MICHAEL BASS GRIMSBY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







DIRECTORS: M E Bass
Mrs E M Bass





SECRETARY: Mrs E M Bass





REGISTERED OFFICE: 28 Dudley Street
Grimsby
N E Lincolnshire
DN31 2AB





REGISTERED NUMBER: 04489928 (England and Wales)





ACCOUNTANTS: Weaver Wroot
28 Dudley Street
Grimsby
N E Lincolnshire
DN31 2AB

MICHAEL BASS GRIMSBY LIMITED (REGISTERED NUMBER: 04489928)

BALANCE SHEET
31ST MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,705 22,273

CURRENT ASSETS
Stocks 57,250 58,500
Debtors 5 74,237 84,639
Cash in hand 270 270
131,757 143,409
CREDITORS
Amounts falling due within one year 6 111,469 130,518
NET CURRENT ASSETS 20,288 12,891
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,993

35,164

CREDITORS
Amounts falling due after more than one
year

7

5,743

11,933
NET ASSETS 31,250 23,231

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 31,248 23,229
SHAREHOLDERS' FUNDS 31,250 23,231

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

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 31st January 2024 and were signed on its behalf by:





M E Bass - Director


MICHAEL BASS GRIMSBY LIMITED (REGISTERED NUMBER: 04489928)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023

1. STATUTORY INFORMATION

Michael Bass Grimsby Limited 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.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

MICHAEL BASS GRIMSBY LIMITED (REGISTERED NUMBER: 04489928)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st June 2022
and 31st May 2023 22,920 62,615 2,471 88,006
DEPRECIATION
At 1st June 2022 14,420 49,334 1,979 65,733
Charge for year 2,125 3,320 123 5,568
At 31st May 2023 16,545 52,654 2,102 71,301
NET BOOK VALUE
At 31st May 2023 6,375 9,961 369 16,705
At 31st May 2022 8,500 13,281 492 22,273

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st June 2022
and 31st May 2023 36,670
DEPRECIATION
At 1st June 2022 25,287
Charge for year 1,269
At 31st May 2023 26,556
NET BOOK VALUE
At 31st May 2023 10,114
At 31st May 2022 11,383

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 60,120 68,859
Other debtors 14,117 15,780
74,237 84,639

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 34,227 51,865
Trade creditors 27,612 19,928
Taxation and social security 11,055 11,704
Other creditors 38,575 47,021
111,469 130,518

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.23 31.5.22
£    £   
Hire purchase contracts 5,743 11,933

MICHAEL BASS GRIMSBY LIMITED (REGISTERED NUMBER: 04489928)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.5.23 31.5.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Hire purchase - 5,743