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Registration number: 06294436

North West Mixers Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

North West Mixers Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

North West Mixers Ltd

Company Information

Directors

Mr GA Jackson

Mr CG Andrews

Mr Paul Fraser

Company secretary

Mr GA Jackson

Registered office

Tan House Lane
Widnes
Cheshire
WA8 0SW

Accountants

Williamson Croft (Liverpool) Ltd
Chartered Certified Accountants
1 Old Hall Street
1st Floor
Liverpool
L3 9HF

 

North West Mixers Ltd

(Registration number: 06294436)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

11,355

28,414

Current assets

 

Debtors

5

52,405

49,259

Cash at bank and in hand

 

17,756

19,400

 

70,161

68,659

Creditors: Amounts falling due within one year

6

(62,514)

(70,035)

Net current assets/(liabilities)

 

7,647

(1,376)

Total assets less current liabilities

 

19,002

27,038

Creditors: Amounts falling due after more than one year

6

(15,901)

(25,730)

Net assets

 

3,101

1,308

Capital and reserves

 

Called up share capital

7

15

15

Retained earnings

3,086

1,293

Shareholders' funds

 

3,101

1,308

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 July 2024 and signed on its behalf by:
 

 

North West Mixers Ltd

(Registration number: 06294436)
Balance Sheet as at 30 November 2023

.........................................
Mr CG Andrews
Director

 

North West Mixers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Tan House Lane
Widnes
Cheshire
WA8 0SW

These financial statements were authorised for issue by the Board on 18 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

North West Mixers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

North West Mixers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2022 - 8).

 

North West Mixers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 December 2022

45,831

45,831

Disposals

(18,000)

(18,000)

At 30 November 2023

27,831

27,831

Depreciation

At 1 December 2022

17,417

17,417

Charge for the year

3,934

3,934

Eliminated on disposal

(4,875)

(4,875)

At 30 November 2023

16,476

16,476

Carrying amount

At 30 November 2023

11,355

11,355

At 30 November 2022

28,414

28,414

5

Debtors

Current

2023
£

2022
£

Trade debtors

52,405

49,259

 

52,405

49,259

 

North West Mixers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9,750

9,750

Amounts owed to related parties

8

5,071

7,571

Taxation and social security

 

31,201

17,849

Accruals and deferred income

 

14,696

29,002

Other creditors

 

1,796

5,863

 

62,514

70,035

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

15,901

25,730

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares

15

15

15

15

       

8

Related party transactions

Mr CG Andrews and Mr GA Jackson are directors and shareholders of the company N.W. Truck and Mixer Repairs Ltd. During the year North West Mixers Ltd received services from this company amounting to £40,360 (2022 - £26,738); all transactions were carried out on normal commercial terms.

Included in creditors in note 6 above is a loan due to N.W. Truck and Mixer Repairs Ltd of £5,071 (2022 - £7,571).

Also included in the financial statements is a management recharge for the year of £14,000 (2022 - charge of £17,500) between the connected companies.