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REGISTERED NUMBER: 04653642 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Machines and Tools Limited

Machines and Tools Limited (Registered number: 04653642)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Machines and Tools Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: RJ Braithwaite





REGISTERED OFFICE: Unit A16(1), Kenyon Court
Walter Leigh Way
Moss Industrial Estate
Leigh
WN7 3PT





REGISTERED NUMBER: 04653642 (England and Wales)





ACCOUNTANTS: Mosley & Co
14 Market Place
Ramsbottom
Bury
Lancashire
BL0 9HT

Machines and Tools Limited (Registered number: 04653642)

Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,782 19,749

CURRENT ASSETS
Stocks 60,000 35,500
Debtors 5 44,219 59,954
Cash at bank and in hand 43,339 66,785
147,558 162,239
CREDITORS
Amounts falling due within one year 6 45,168 59,687
NET CURRENT ASSETS 102,390 102,552
TOTAL ASSETS LESS CURRENT
LIABILITIES

118,172

122,301

CREDITORS
Amounts falling due after more than
one year

7

(577

)

(7,500

)

PROVISIONS FOR LIABILITIES 8 (3,945 ) (4,937 )
NET ASSETS 113,650 109,864

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 113,649 109,863
SHAREHOLDERS' FUNDS 113,650 109,864

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

Machines and Tools Limited (Registered number: 04653642)

Statement of Financial Position - continued
31 May 2024


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 14 August 2024 and were signed by:





RJ Braithwaite - Director


Machines and Tools Limited (Registered number: 04653642)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Machines and Tools Limited 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 - 25% on reducing balance, 20% on reducing balance and at variable rates on reducing balance

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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Machines and Tools Limited (Registered number: 04653642)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 28,827
Additions 1,191
At 31 May 2024 30,018
DEPRECIATION
At 1 June 2023 9,078
Charge for year 5,158
At 31 May 2024 14,236
NET BOOK VALUE
At 31 May 2024 15,782
At 31 May 2023 19,749

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 39,354 58,079
Other debtors 4,865 1,875
44,219 59,954

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 10,378 15,374
Hire purchase contracts 6,923 6,923
Trade creditors 11,172 12,477
Taxation and social security 12,244 20,026
Other creditors 4,451 4,887
45,168 59,687

Machines and Tools Limited (Registered number: 04653642)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 577 7,500

8. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax 3,945 4,937

Deferred
tax
£   
Balance at 1 June 2023 4,937
Provided during year (992 )
Balance at 31 May 2024 3,945