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REGISTERED NUMBER: 10760412 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2023

FOR

MSL HEAT TREATMENT LIMITED

MSL HEAT TREATMENT LIMITED (REGISTERED NUMBER: 10760412)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MSL HEAT TREATMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTORS: D P Woolger
C L Woolger



REGISTERED OFFICE: Headcorn Road
Staplehurst
Tonbridge
Kent
TN12 0DS



REGISTERED NUMBER: 10760412 (England and Wales)



AUDITORS: Gowers Limited, Statutory Auditor
The Old School House
Bridge Road
Hunton Bridge
Kings Langley
Hertfordshire
WD4 8SZ



BANKERS: Clydesdale Bank Plc
35 Regent Street
Piccadilly Circus
London
SW1Y 4ND

MSL HEAT TREATMENT LIMITED (REGISTERED NUMBER: 10760412)

BALANCE SHEET
30TH JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 17,203 21,504
Tangible assets 5 121,774 33,087
138,977 54,591

CURRENT ASSETS
Stocks 6 6,816 7,000
Debtors 7 181,072 199,658
Cash at bank and in hand 20,128 21,892
208,016 228,550
CREDITORS
Amounts falling due within one year 8 (167,478 ) (169,555 )
NET CURRENT ASSETS 40,538 58,995
TOTAL ASSETS LESS CURRENT
LIABILITIES

179,515

113,586

CREDITORS
Amounts falling due after more than one year 9 (59,740 ) (20,000 )

PROVISIONS FOR LIABILITIES (23,100 ) (6,300 )
NET ASSETS 96,675 87,286

CAPITAL AND RESERVES
Called up share capital 10 1,200 1,200
Retained earnings 11 95,475 86,086
96,675 87,286

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 21st December 2023 and were signed on its behalf by:



D P Woolger - Director


MSL HEAT TREATMENT LIMITED (REGISTERED NUMBER: 10760412)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023


1. STATUTORY INFORMATION

MSL Heat Treatment 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 represents the amounts derived from the provision of goods which fall within the company’s ordinary activities, excluding Value Added Tax.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being written off over 10 years this being, in the opinion of the directors, its economic useful life.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible assets are initially measured at cost. After initial recognition, tangible assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete slow moving items. Bought in components are valued at latest invoice cost, which approximates to the first in first out basis of valuation. Finished goods are valued at the latest invoice cost of materials on the standard cost card and the standard cost of labour on the standard cost card.

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.


MSL HEAT TREATMENT LIMITED (REGISTERED NUMBER: 10760412)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


2. ACCOUNTING POLICIES - continued
Deferred taxation
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.

Pensions
The company operates a defined contribution money purchase pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The scheme also has defined benefit characteristics.

Amounts paid to defined contribution schemes are recognised in the profit and loss account when the payments fall due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st July 2022
and 30th June 2023 43,008
AMORTISATION
At 1st July 2022 21,504
Amortisation for year 4,301
At 30th June 2023 25,805
NET BOOK VALUE
At 30th June 2023 17,203
At 30th June 2022 21,504

MSL HEAT TREATMENT LIMITED (REGISTERED NUMBER: 10760412)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st July 2022 42,208 40,000 82,208
Additions 159,621 - 159,621
Disposals - (40,000 ) (40,000 )
At 30th June 2023 201,829 - 201,829
DEPRECIATION
At 1st July 2022 39,121 10,000 49,121
Charge for year 40,934 5,000 45,934
Eliminated on disposal - (15,000 ) (15,000 )
At 30th June 2023 80,055 - 80,055
NET BOOK VALUE
At 30th June 2023 121,774 - 121,774
At 30th June 2022 3,087 30,000 33,087

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st July 2022 - 40,000 40,000
Additions 159,621 - 159,621
Disposals - (40,000 ) (40,000 )
At 30th June 2023 159,621 - 159,621
DEPRECIATION
At 1st July 2022 - 10,000 10,000
Charge for year 39,905 5,000 44,905
Eliminated on disposal - (15,000 ) (15,000 )
At 30th June 2023 39,905 - 39,905
NET BOOK VALUE
At 30th June 2023 119,716 - 119,716
At 30th June 2022 - 30,000 30,000

MSL HEAT TREATMENT LIMITED (REGISTERED NUMBER: 10760412)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


6. STOCKS
2023 2022
£    £   
Stocks 6,816 7,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 58,331 43,782
Advance payment to suppliers 13,732 64,775
Other debtors 89,754 90,250
Prepayments and accrued income 19,255 851
181,072 199,658

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 44,805 12,000
Trade creditors 44,462 11,549
Amounts owed to group undertakings 25,604 93,787
Social security and other taxes 3,681 3,200
VAT 16,085 18,967
Accruals and deferred income 32,841 30,052
167,478 169,555

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 59,740 20,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value £    £   

1,000 Ordinary shares 1 1,000 1,000
40 Non-voting 'A' shares 1 40 40
40 Non-voting 'B' shares 1 40 40
120 Non-voting 'C' shares 1 120 120
1,200 1,200

MSL HEAT TREATMENT LIMITED (REGISTERED NUMBER: 10760412)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


11. RESERVES
Retained
earnings
£   

At 1st July 2022 86,086
Profit for the year 9,389
At 30th June 2023 95,475

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Green FCA (Senior Statutory Auditor)
for and on behalf of Gowers Limited, Statutory Auditor

13. RELATED PARTY DISCLOSURES

As at 30th June 2023 the company owed £25,604 (2022 : £93,787) to Magnetic Shields Limited, a company in which both D P Woolger and C L Woolger are directors.