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Company Registration No. 09065017 (England and Wales)
MSE Cartech Limited Unaudited accounts for the year ended 31 May 2023
MSE Cartech Limited Unaudited accounts Contents
Page
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MSE Cartech Limited Company Information for the year ended 31 May 2023
Directors
Mr. S. Essery Mr. M. Stallwood
Company Number
09065017 (England and Wales)
Registered Office
Heartoak House 21a Totteridge Lane High Wycombe HP13 7QD
Accountants
The Straightener Limited 83 Ducie Street Manchester M1 2JQ
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MSE Cartech Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
12,717 
22,339 
Current assets
Inventories
1,300 
1,000 
Debtors
14,059 
20,624 
Cash at bank and in hand
72,687 
30,385 
88,046 
52,009 
Creditors: amounts falling due within one year
(63,231)
(46,312)
Net current assets
24,815 
5,697 
Total assets less current liabilities
37,532 
28,036 
Creditors: amounts falling due after more than one year
(15,776)
(23,512)
Provisions for liabilities
Deferred tax
(2,417)
(4,245)
Net assets
19,339 
279 
Capital and reserves
Called up share capital
4 
4 
Profit and loss account
19,335 
275 
Shareholders' funds
19,339 
279 
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 February 2024 and were signed on its behalf by
Mr. S. Essery Director Company Registration No. 09065017
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MSE Cartech Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
MSE Cartech Limited is a private company, limited by shares, registered in England and Wales, registration number 09065017. The registered office is Heartoak House, 21a Totteridge Lane, High Wycombe, HP13 7QD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% per annum straight line
Motor vehicles
20% per annum straight line
Computer equipment
20% per annum straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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MSE Cartech Limited Notes to the Accounts for the year ended 31 May 2023
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2022
54,049 
57,805 
5,463 
117,317 
Additions
9,565 
500 
- 
10,065 
Disposals
- 
(53,738)
- 
(53,738)
At 31 May 2023
63,614 
4,567 
5,463 
73,644 
Depreciation
At 1 June 2022
50,208 
41,959 
2,811 
94,978 
Charge for the year
3,000 
417 
823 
4,240 
On disposals
- 
(38,291)
- 
(38,291)
At 31 May 2023
53,208 
4,085 
3,634 
60,927 
Net book value
At 31 May 2023
10,406 
482 
1,829 
12,717 
At 31 May 2022
3,841 
15,846 
2,652 
22,339 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
5,392 
12,528 
Accrued income and prepayments
895 
596 
Other debtors
7,772 
7,500 
14,059 
20,624 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
8,580 
8,760 
Trade creditors
8,630 
7,518 
Taxes and social security
24,573 
19,351 
Other creditors
89 
- 
Loans from directors
19,098 
8,883 
Accruals
2,261 
1,800 
63,231 
46,312 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
15,776 
23,512 
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MSE Cartech Limited Notes to the Accounts for the year ended 31 May 2023
8
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 May 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
24,696 
24,696 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mr. S. Essery
Amounts due to director
19,905 
14,057 
24,511 
9,451 
Mr. M. Stallwood
Amounts due (from)/to director
(11,022)
35,613 
14,944 
9,647 
8,883 
49,670 
39,455 
19,098 
10
Average number of employees
During the year the average number of employees was 3 (2022: 4).
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