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MANSFIELD WOODHOUSE METALS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023






MANSFIELD WOODHOUSE METALS LTD (REGISTERED NUMBER: 11392798)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MANSFIELD WOODHOUSE METALS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: P Pearce





REGISTERED OFFICE: Unit 99-101 Block 15 Old Mill Lane Indus
Mansfield Woodhouse
Mansfield
Nottinghamshire
NG19 9BG





REGISTERED NUMBER: 11392798 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

MANSFIELD WOODHOUSE METALS LTD (REGISTERED NUMBER: 11392798)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 67,500 -
Tangible assets 5 9,064 -
76,564 -

CURRENT ASSETS
Stocks 14,870 -
Debtors 6 90,930 -
Cash at bank and in hand 13,840 10
119,640 10
CREDITORS
Amounts falling due within one year 7 74,082 -
NET CURRENT ASSETS 45,558 10
TOTAL ASSETS LESS CURRENT LIABILITIES 122,122 10

PROVISIONS FOR LIABILITIES 9 1,700 -
NET ASSETS 120,422 10

CAPITAL AND RESERVES
Called up share capital 10 10 10
Retained earnings 120,412 -
SHAREHOLDERS' FUNDS 120,422 10

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

MANSFIELD WOODHOUSE METALS LTD (REGISTERED NUMBER: 11392798)

BALANCE SHEET - continued
31 AUGUST 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 April 2024 and were signed by:





P Pearce - Director


MANSFIELD WOODHOUSE METALS LTD (REGISTERED NUMBER: 11392798)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

Mansfield Woodhouse Metals 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 Statement of Income and Retained Earnings, 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.


MANSFIELD WOODHOUSE METALS LTD (REGISTERED NUMBER: 11392798)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 2 (2022 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 75,000
At 31 August 2023 75,000
AMORTISATION
Amortisation for year 7,500
At 31 August 2023 7,500
NET BOOK VALUE
At 31 August 2023 67,500

MANSFIELD WOODHOUSE METALS LTD (REGISTERED NUMBER: 11392798)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
Additions 9,458
At 31 August 2023 9,458
DEPRECIATION
Charge for year 394
At 31 August 2023 394
NET BOOK VALUE
At 31 August 2023 9,064

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 84,905 -
Other debtors 6,025 -
90,930 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,811 -
Taxation and social security 64,660 -
Other creditors 4,611 -
74,082 -

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 21,525 -

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,700 -

MANSFIELD WOODHOUSE METALS LTD (REGISTERED NUMBER: 11392798)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Provided during year 1,700
Balance at 31 August 2023 1,700

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
9 Ordinary A Shares £1.00 9 9
1 Ordinary B Shares £1.00 1 1
10 10

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 August 2023 and the period ended 31 August 2022:

2023 2022
£    £   
P Pearce
Balance outstanding at start of year - -
Amounts advanced 1,110 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,110 -

The loan is interest free and repayable on demand.