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REGISTERED NUMBER: 02294316 (England and Wales)















Financial Statements for the Year Ended 31 August 2023

for

MYARC WELDING SUPPLIES CO. LIMITED

MYARC WELDING SUPPLIES CO. LIMITED (REGISTERED NUMBER: 02294316)

Contents of the Financial Statements
for the Year Ended 31 August 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


MYARC WELDING SUPPLIES CO. LIMITED

Company Information
for the Year Ended 31 August 2023







DIRECTORS: M J Symcox
Mrs C L Symcox





SECRETARY: Mrs C L Symcox





REGISTERED OFFICE: The Granary
Brewer Street
Bletchingley
Surrey
RH1 4QP





REGISTERED NUMBER: 02294316 (England and Wales)






MYARC WELDING SUPPLIES CO. LIMITED (REGISTERED NUMBER: 02294316)

Statement of Financial Position
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 486 69

CURRENT ASSETS
Stocks 3,186 3,918
Debtors 5 59,422 53,343
Cash at bank and in hand 6,538 1,955
69,146 59,216
CREDITORS
Amounts falling due within one year 6 69,585 59,266
NET CURRENT LIABILITIES (439 ) (50 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

47

19

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 45 17
SHAREHOLDERS' FUNDS 47 19

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by:




M J Symcox - Director


MYARC WELDING SUPPLIES CO. LIMITED (REGISTERED NUMBER: 02294316)

Notes to the Financial Statements
for the Year Ended 31 August 2023


1. STATUTORY INFORMATION

Myarc Welding Supplies Co. 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.
Plant and machinery etc - 25% on cost

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 and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 (2022 - 4 ) .

MYARC WELDING SUPPLIES CO. LIMITED (REGISTERED NUMBER: 02294316)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 12,143
Additions 608
At 31 August 2023 12,751
DEPRECIATION
At 1 September 2022 12,074
Charge for year 191
At 31 August 2023 12,265
NET BOOK VALUE
At 31 August 2023 486
At 31 August 2022 69

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 44,764 37,011
Other debtors 14,658 16,332
59,422 53,343

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 56,419 46,001
Taxation and social security 11,566 13,265
Other creditors 1,600 -
69,585 59,266

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other debtors is an amount of £14,658 due from the directors of the company. This loan was repaid in full by the date these financial statements were approved.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M J Symcox a director and shareholder in the company.