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REGISTERED NUMBER: 06729768 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2022

for

The Mustang Workshop Ltd

The Mustang Workshop Ltd (Registered number: 06729768)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Mustang Workshop Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTOR: Roy Holmes





SECRETARY: Roy Holmes





REGISTERED OFFICE: 10a White Hart Parade
London Road
Blackwater
Camberley
Surrey
GU17 9JD





REGISTERED NUMBER: 06729768 (England and Wales)





ACCOUNTANTS: Turner & Co
Chartered Accountants
10a White Hart Parade
London Road
Blackwater
Camberley
Surrey
GU17 9AD

The Mustang Workshop Ltd (Registered number: 06729768)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 122,650 167,680

CURRENT ASSETS
Stocks 500 500
Debtors 5 (28,184 ) (7,027 )
Cash at bank 153,461 167,132
125,777 160,605
CREDITORS
Amounts falling due within one year 6 121,406 136,644
NET CURRENT ASSETS 4,371 23,961
TOTAL ASSETS LESS CURRENT
LIABILITIES

127,021

191,641

PROVISIONS FOR LIABILITIES 4,200 4,200
NET ASSETS 122,821 187,441

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 122,817 187,437
SHAREHOLDERS' FUNDS 122,821 187,441

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The Mustang Workshop Ltd (Registered number: 06729768)

Balance Sheet - continued
31 December 2022


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 January 2024 and were signed by:





Roy Holmes - Director


The Mustang Workshop Ltd (Registered number: 06729768)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

The Mustang Workshop Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost, 15% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


The Mustang Workshop Ltd (Registered number: 06729768)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2022 419,802
Additions 1,822
At 31 December 2022 421,624
DEPRECIATION
At 1 January 2022 252,122
Charge for year 46,852
At 31 December 2022 298,974
NET BOOK VALUE
At 31 December 2022 122,650
At 31 December 2021 167,680

The Mustang Workshop Ltd (Registered number: 06729768)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.12.22 31.12.21
£    £   
Trade debtors (32,442 ) (11,190 )
Other debtors 4,258 4,163
(28,184 ) (7,027 )

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.12.22 31.12.21
£    £   
Trade creditors 40,577 27,760
Taxation and social security 36,564 33,746
Other creditors 44,265 75,138
121,406 136,644

7. ULTIMATE CONTROLLING PARTY

The controlling party is Roy Holmes.

The company is controlled by the director by virtue of his share holding.