Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31Blacksmithtrue32022-11-01false3trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11602881 2022-11-01 2023-10-31 11602881 2021-11-01 2022-10-31 11602881 2023-10-31 11602881 2022-10-31 11602881 c:Director1 2022-11-01 2023-10-31 11602881 d:PlantMachinery 2022-11-01 2023-10-31 11602881 d:PlantMachinery 2023-10-31 11602881 d:PlantMachinery 2022-10-31 11602881 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11602881 d:MotorVehicles 2022-11-01 2023-10-31 11602881 d:MotorVehicles 2023-10-31 11602881 d:MotorVehicles 2022-10-31 11602881 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11602881 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11602881 d:Goodwill 2023-10-31 11602881 d:Goodwill 2022-10-31 11602881 d:CurrentFinancialInstruments 2023-10-31 11602881 d:CurrentFinancialInstruments 2022-10-31 11602881 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 11602881 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 11602881 d:ShareCapital 2023-10-31 11602881 d:ShareCapital 2022-10-31 11602881 d:RetainedEarningsAccumulatedLosses 2023-10-31 11602881 d:RetainedEarningsAccumulatedLosses 2022-10-31 11602881 c:FRS102 2022-11-01 2023-10-31 11602881 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 11602881 c:FullAccounts 2022-11-01 2023-10-31 11602881 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 11602881 d:Goodwill d:OwnedIntangibleAssets 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 11602881










MATHER OF TIBSHELF (BLACKSMITHS) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

 
MATHER OF TIBSHELF (BLACKSMITHS) LIMITED
REGISTERED NUMBER: 11602881

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
3,750
4,500

Tangible assets
 5 
5,976
6,586

  
9,726
11,086

Current assets
  

Stocks
  
3,570
3,330

Debtors: amounts falling due within one year
 6 
8,833
4,316

Cash at bank and in hand
  
160,067
129,943

  
172,470
137,589

Creditors: amounts falling due within one year
 7 
(144,643)
(142,722)

Net current assets/(liabilities)
  
 
 
27,827
 
 
(5,133)

  

Net assets
  
37,553
5,953


Capital and reserves
  

Called up share capital 
  
110
110

Profit and loss account
  
37,443
5,843

  
37,553
5,953


Page 1

 
MATHER OF TIBSHELF (BLACKSMITHS) LIMITED
REGISTERED NUMBER: 11602881
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 February 2024.



G R Beckett
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MATHER OF TIBSHELF (BLACKSMITHS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Mathers of Tibshelf (Blacksmiths) Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 11602881). Its registered office is 46 Hardstoft Road, Pilsley, Chesterfield, Derbyshire, S45 8BL. The principal activity of the Company throughout the year continued to be that of a blacksmith.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
MATHER OF TIBSHELF (BLACKSMITHS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.

 
2.5

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Income and Retained Earnings over its useful economic life which is considered to be ten years.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each Balance Sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Income and Retained Earnings.

Page 4

 
MATHER OF TIBSHELF (BLACKSMITHS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction,  the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 5

 
MATHER OF TIBSHELF (BLACKSMITHS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 November 2022
7,500



At 31 October 2023

7,500



Amortisation


At 1 November 2022
3,000


Charge for the year on owned assets
750



At 31 October 2023

3,750



Net book value



At 31 October 2023
3,750



At 31 October 2022
4,500



Page 6

 
MATHER OF TIBSHELF (BLACKSMITHS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 November 2022
10,285
6,000
16,285


Additions
1,109
-
1,109



At 31 October 2023

11,394
6,000
17,394



Depreciation


At 1 November 2022
5,597
4,102
9,699


Charge for the year on owned assets
1,244
475
1,719



At 31 October 2023

6,841
4,577
11,418



Net book value



At 31 October 2023
4,553
1,423
5,976



At 31 October 2022
4,688
1,898
6,586


6.


Debtors

2023
2022
£
£


Trade debtors
7,596
3,142

Other debtors
-
69

Prepayments and accrued income
1,237
1,105

8,833
4,316


Page 7

 
MATHER OF TIBSHELF (BLACKSMITHS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
5,046
10,367

Corporation tax
10,706
4,221

Other taxation and social security
3,557
630

Other creditors
122,809
125,254

Accruals and deferred income
2,525
2,250

144,643
142,722



8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £196 (2022: £99). Contributions totalling £nil (2022: £nil) were payable to the fund at the Balance Sheet date and are included in creditors.

 
Page 8