Company Registration No. 12621645 (England and Wales)
Muncal Group Ltd
Unaudited accounts
for the year ended 31 May 2023
Muncal Group Ltd
Unaudited accounts
Contents
Muncal Group Ltd
Company Information
for the year ended 31 May 2023
Directors
Claudia CALANDRA
Kevin MUNNELLY
Secretary
Claudia CALANDRA
Company Number
12621645 (England and Wales)
Registered Office
19-21 SWAN STREET
WEST MALLING
ME19 6JU
ENGLAND
Muncal Group Ltd
Statement of financial position
as at 31 May 2023
Tangible assets
22,086
43,411
Cash at bank and in hand
36,028
67,305
Creditors: amounts falling due within one year
(34,869)
(62,859)
Net current assets
85,157
58,893
Total assets less current liabilities
107,243
102,304
Creditors: amounts falling due after more than one year
(14,874)
(26,874)
Provisions for liabilities
Deferred tax
(8,252)
(8,252)
Called up share capital
10
10
Profit and loss account
84,107
67,168
Shareholders' funds
84,117
67,178
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 5 March 2024 and were signed on its behalf by
Claudia CALANDRA
Director
Company Registration No. 12621645
Muncal Group Ltd
Notes to the Accounts
for the year ended 31 May 2023
Muncal Group Ltd is a private company, limited by shares, registered in England and Wales, registration number 12621645. The registered office is 19-21 SWAN STREET, WEST MALLING, ME19 6JU, ENGLAND.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Computer equipment
25% Reducing Balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Muncal Group Ltd
Notes to the Accounts
for the year ended 31 May 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2022
-
53,782
1,153
54,935
Additions
250
-
1,188
1,438
Disposals
-
(15,000)
(400)
(15,400)
At 31 May 2023
250
38,782
1,941
40,973
At 1 June 2022
-
11,191
333
11,524
Charge for the year
63
6,898
402
7,363
At 31 May 2023
63
18,089
735
18,887
At 31 May 2023
187
20,693
1,206
22,086
At 31 May 2022
-
42,591
820
43,411
Amounts falling due within one year
Trade debtors
25,982
18,910
Amounts due from group undertakings etc.
43,085
-
Accrued income and prepayments
4,283
-
Other debtors
5,648
30,537
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
3,182
10,866
Taxes and social security
10,806
33,438
Loans from directors
5,306
-
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
14,874
26,874
8
Average number of employees
During the year the average number of employees was 3 (2022: 4).