Registered number
04603321
MT Cashell & Sons Ltd
Unaudited Filleted Accounts
31 January 2024
MT Cashell & Sons Ltd
Registered number: 04603321
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 35,402 42,497
Investments 5 2,000 2,000
37,402 44,497
Current assets
Stocks 38,350 30,309
Debtors 6 27,341 23,757
Cash at bank and in hand 154,142 162,433
219,833 216,499
Creditors: amounts falling due within one year 7 (66,483) (68,215)
Net current assets 153,350 148,284
Total assets less current liabilities 190,752 192,781
Creditors: amounts falling due after more than one year 8 (30,093) (35,648)
Provisions for liabilities (6,726) (8,074)
Net assets 153,933 149,059
Capital and reserves
Called up share capital 100 100
Profit and loss account 153,833 148,959
Shareholders' funds 153,933 149,059
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D M Cashell
Director
Approved by the board on 9 April 2024
MT Cashell & Sons Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 16
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 96,202
At 31 January 2024 96,202
Amortisation
At 1 February 2023 96,202
At 31 January 2024 96,202
Net book value
At 31 January 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2023 12,247 153,573 40,846 206,666
Additions - 8,921 - 8,921
Disposals - (12,054) - (12,054)
At 31 January 2024 12,247 150,440 40,846 203,533
Depreciation
At 1 February 2023 11,145 131,825 21,199 164,169
Charge for the year 429 10,675 4,912 16,016
On disposals - (12,054) - (12,054)
At 31 January 2024 11,574 130,446 26,111 168,131
Net book value
At 31 January 2024 673 19,994 14,735 35,402
At 31 January 2023 1,102 21,748 19,647 42,497
5 Investments
Other
investments
£
Cost
At 1 February 2023 2,000
At 31 January 2024 2,000
6 Debtors 2024 2023
£ £
Trade debtors 16,272 10,516
Other debtors 11,069 13,241
27,341 23,757
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,062 7,652
Trade creditors 38,428 47,322
Taxation and social security costs 18,367 7,991
Other creditors 1,626 5,250
66,483 68,215
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 30,093 35,648
9 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 7,871 13,426
10 Related party transactions
Mr DM Cashell
Director
The company pays rent for the premises to Mr DM Cashell
Rent payable is £395.83 per month 4,750 4,750
Mr AJ Cashell
Director
The company pays rent for the premises to Mr AJ Cashell
Rent payable is £395.83 per month 4,750 4,750
11 Transactions with Directors
During the year Mr D M Cashell & Mr A J Cashell, both directors and shareholders, used a current account with the company to record amounts due to them and amounts drawn by them. The account shows a balance owed back to Mr D M Cashell, as at 31 January 2024 of £252.27 (2023: £113.12). The amount owed back to Mr A J Cashell, as at 31 January 2024 was £252.27 (2023: £113.12). The amount is repayable on demand and does not carry interest.
12 Controlling party
Mr DM Cashell owns 50% of the share capital of the company and Mr AJ Cashell owns 50% of the share capital of the company. Therefore they are jointly the company's ultimate controlling party.
13 Other information
MT Cashell & Sons Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
The Old Bank
Beaufort
Crickhowell
Powys
NP8 1AD
MT Cashell & Sons Ltd 04603321 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts October 2023 release 2 D M Cashell No description of principal activity 04603321 2022-02-01 2023-01-31 04603321 core:KeyManagementIndividualGroup1 2022-02-01 2023-01-31 04603321 core:KeyManagementIndividualGroup2 2022-02-01 2023-01-31 04603321 core:WithinOneYear 2023-01-31 04603321 core:AfterOneYear 2023-01-31 04603321 core:ShareCapital 2023-01-31 04603321 core:RetainedEarningsAccumulatedLosses 2023-01-31 04603321 core:MoreThanFiveYears 2023-01-31 04603321 2023-02-01 2024-01-31 04603321 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04603321 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 04603321 bus:Director40 2023-02-01 2024-01-31 04603321 1 2023-02-01 2024-01-31 04603321 2 2023-02-01 2024-01-31 04603321 core:LandBuildings 2023-02-01 2024-01-31 04603321 core:PlantMachinery 2023-02-01 2024-01-31 04603321 core:Vehicles 2023-02-01 2024-01-31 04603321 core:KeyManagementIndividualGroup1 2023-02-01 2024-01-31 04603321 core:KeyManagementIndividualGroup2 2023-02-01 2024-01-31 04603321 countries:England 2023-02-01 2024-01-31 04603321 bus:FRS102 2023-02-01 2024-01-31 04603321 bus:FullAccounts 2023-02-01 2024-01-31 04603321 2024-01-31 04603321 core:WithinOneYear 2024-01-31 04603321 core:AfterOneYear 2024-01-31 04603321 core:ShareCapital 2024-01-31 04603321 core:RetainedEarningsAccumulatedLosses 2024-01-31 04603321 core:Goodwill 2024-01-31 04603321 core:LandBuildings 2024-01-31 04603321 core:PlantMachinery 2024-01-31 04603321 core:Vehicles 2024-01-31 04603321 core:MoreThanFiveYears 2024-01-31 04603321 2023-01-31 04603321 core:Goodwill 2023-01-31 04603321 core:LandBuildings 2023-01-31 04603321 core:PlantMachinery 2023-01-31 04603321 core:Vehicles 2023-01-31 iso4217:GBP xbrli:pure