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Company Registration No. 09573425 (England and Wales)
Muscroft Engineering Limited Unaudited accounts for the year ended 31 May 2024
Muscroft Engineering Limited Unaudited accounts Contents
Page
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Muscroft Engineering Limited Company Information for the year ended 31 May 2024
Director
N. Muscroft
Secretary
N. Muscroft
Company Number
09573425 (England and Wales)
Registered Office
Flat 31 Block D 238 Ordsall Lane Salford M5 3NE
Accountants
Townley & Co Limited Warrington Business Centre 67 Bewsey Street Warrington WA2 7JQ
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Muscroft Engineering Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
141 
188 
Current assets
Debtors
- 
2,538 
Cash at bank and in hand
210,555 
196,216 
210,555 
198,754 
Creditors: amounts falling due within one year
(64,802)
(58,090)
Net current assets
145,753 
140,664 
Net assets
145,894 
140,852 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
145,893 
140,851 
Shareholders' funds
145,894 
140,852 
For the year ending 31 May 2024 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 director acknowledges his 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 and authorised for issue on 7 August 2024 and were signed on its behalf by
N. Muscroft Director Company Registration No. 09573425
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Muscroft Engineering Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Muscroft Engineering Limited is a private company, limited by shares, registered in England and Wales, registration number 09573425. The registered office is Flat 31 Block D, 238 Ordsall Lane, Salford, M5 3NE.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% straight line
Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Pension costs
Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Deferred taxation
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.
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Muscroft Engineering Limited Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 June 2023
662 
At 31 May 2024
662 
Depreciation
At 1 June 2023
474 
Charge for the year
47 
At 31 May 2024
521 
Net book value
At 31 May 2024
141 
At 31 May 2023
188 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
2,538 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
4,521 
4,354 
Taxes and social security
12,500 
9,403 
Loans from directors
47,181 
43,733 
Accruals
600 
600 
64,802 
58,090 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
8
Controlling party
The company is under the control of N. Muscroft by virtue of his shareholding and directorship.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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