Registered number
09139375
MKW Refinishing Ltd
Filleted Accounts
31 July 2023
MKW Refinishing Ltd
Registered number: 09139375
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 14,571 15,115
Current assets
Stocks - 14,532
Debtors 4 5,784 4,324
Cash at bank and in hand 28,081 19,910
33,865 38,766
Creditors: amounts falling due within one year 5 (13,703) (15,494)
Net current assets 20,162 23,272
Total assets less current liabilities 34,733 38,387
Creditors: amounts falling due after more than one year 6 (24,752) (32,384)
Provisions for liabilities (699) (2,873)
Net assets 9,282 3,130
Capital and reserves
Called up share capital 1 1
Profit and loss account 9,281 3,129
Shareholder's funds 9,282 3,130
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
G Antill
Director
Approved by the board on 4 March 2024
MKW Refinishing Ltd
Notes to the Accounts
for the year ended 31 July 2023
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:
Plant and machinery 25% Reducing Balance
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.

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.

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.

Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 36,331 - 36,331
Additions - 14,532 14,532
Disposals (10,901) - (10,901)
At 31 July 2023 25,430 14,532 39,962
Depreciation
At 1 August 2022 21,216 - 21,216
Charge for the year 1,860 3,633 5,493
On disposals (1,318) - (1,318)
At 31 July 2023 21,758 3,633 25,391
Net book value
At 31 July 2023 3,672 10,899 14,571
At 31 July 2022 15,115 - 15,115
4 Debtors 2023 2022
£ £
Trade debtors 5,784 4,324
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 12,628 13,267
Other creditors 1,075 2,227
13,703 15,494
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 24,752 32,384
7 Other information
MKW Refinishing Ltd is a private company limited by shares and incorporated in England. Its registered office is:
20-22 Wenlock Road
London
N1 7GU
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