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REGISTERED NUMBER: 05403584 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

MICHAELS MOWERS LIMITED

MICHAELS MOWERS LIMITED (REGISTERED NUMBER: 05403584)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MICHAELS MOWERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mr J P Edwards
Miss A M Crummett





SECRETARY: Miss A M Crummett





REGISTERED OFFICE: 1 Alexander Close
Long Stratton
Norfolk
NR15 2RJ





REGISTERED NUMBER: 05403584 (England and Wales)





ACCOUNTANTS: LEES
Chartered Certified Accountants
Ingram House
Meridian Way
Norwich
Norfolk
NR7 0TA

MICHAELS MOWERS LIMITED (REGISTERED NUMBER: 05403584)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,400 11,100
Tangible assets 5 10,406 17,298
17,806 28,398

CURRENT ASSETS
Stocks 20,600 34,000
Debtors 6 7,044 7,430
Cash at bank and in hand 24,034 76,620
51,678 118,050
CREDITORS
Amounts falling due within one year 7 69,726 90,476
NET CURRENT (LIABILITIES)/ASSETS (18,048 ) 27,574
TOTAL ASSETS LESS CURRENT
LIABILITIES

(242

)

55,972

PROVISIONS FOR LIABILITIES - 3,287
NET (LIABILITIES)/ASSETS (242 ) 52,685

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (342 ) 52,585
SHAREHOLDERS' FUNDS (242 ) 52,685

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

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

MICHAELS MOWERS LIMITED (REGISTERED NUMBER: 05403584)

BALANCE SHEET - continued
31 MAY 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 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 8 February 2024 and were signed on its behalf by:




Mr J P Edwards - Director



Miss A M Crummett - Director


MICHAELS MOWERS LIMITED (REGISTERED NUMBER: 05403584)

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

1. STATUTORY INFORMATION

Michaels Mowers 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.

At 31 May 2023 the company has net current liabilities of £18,048 net liabilities of £242. The company relies on the continued support of its directors to meet its day to day working capital capital requirements. The directors have indicated their willingness to support the company as necessary for the foreseeable future. The directors therefore consider it appropriate to prepare the financial statements on a going concern basis.

Turnover
Turnover represents the fair value of goods sold and services provided during the year, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of nine years.

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 reducing balance

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 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
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

The average number of employees during the year was 3 (2022 - 4 ) .

MICHAELS MOWERS LIMITED (REGISTERED NUMBER: 05403584)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 74,000
AMORTISATION
At 1 June 2022 62,900
Charge for year 3,700
At 31 May 2023 66,600
NET BOOK VALUE
At 31 May 2023 7,400
At 31 May 2022 11,100

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 75,393
Additions 4,300
Disposals (22,852 )
At 31 May 2023 56,841
DEPRECIATION
At 1 June 2022 58,095
Charge for year 4,267
Eliminated on disposal (15,927 )
At 31 May 2023 46,435
NET BOOK VALUE
At 31 May 2023 10,406
At 31 May 2022 17,298

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 7,044 7,430

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 14,894 33,605
Taxation and social security 2,915 2,538
Other creditors 51,917 54,333
69,726 90,476

MICHAELS MOWERS LIMITED (REGISTERED NUMBER: 05403584)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
45 Ordinary "A" £1 45 45
45 Ordinary "B" £1 45 45
2 Ordinary "C" £1 2 2
2 Ordinary "D" £1 2 2
2 Ordinary "E" £1 2 2
2 Ordinary "F" £1 2 2
2 Ordinary "G" £1 2 2
100 100

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have provided a personal guarantee of £20,000 in respect of the bank overdraft facility.

10. ULTIMATE CONTROLLING PARTY

The company is controlled jointly by, Mr J P Edwards and Miss A M Crummett, both of whom are directors and shareholders of the company.