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REGISTERED NUMBER: 12825144 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MWNT GAS LTD

MWNT GAS LTD (REGISTERED NUMBER: 12825144)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MWNT GAS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs J E Shipp
Mrs H A R Evans





SECRETARY:





REGISTERED OFFICE: Clydfan
Saron Road
Pentrecwrt
Llandysul
Carmarthenshire
SA44 5DL





REGISTERED NUMBER: 12825144 (England and Wales)





ACCOUNTANTS: Great Nash Accountancy Services
31 Church View
Summerhill
Stepaside
Pembrokeshire
SA67 8LZ

MWNT GAS LTD (REGISTERED NUMBER: 12825144)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,667 9,667
Tangible assets 5 25,913 30,862
31,580 40,529

CURRENT ASSETS
Stocks 3,941 8,668
Debtors 6 25,453 14,396
Cash at bank and in hand 51,423 51,468
80,817 74,532
CREDITORS
Amounts falling due within one year 7 53,871 67,178
NET CURRENT ASSETS 26,946 7,354
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,526

47,883

CREDITORS
Amounts falling due after more than one
year

8

(8,228

)

(14,489

)

PROVISIONS FOR LIABILITIES (4,789 ) (5,699 )
NET ASSETS 45,509 27,695

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 45,507 27,693
SHAREHOLDERS' FUNDS 45,509 27,695

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MWNT GAS LTD (REGISTERED NUMBER: 12825144)

BALANCE SHEET - continued
31 MARCH 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 Board of Directors and authorised for issue on 7 September 2024 and were signed on its behalf by:





Mrs J E Shipp - Director


MWNT GAS LTD (REGISTERED NUMBER: 12825144)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Mwnt Gas 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five 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.
Plant and machinery etc - 25% on reducing balance

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.

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.

MWNT GAS LTD (REGISTERED NUMBER: 12825144)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 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 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 20,000
AMORTISATION
At 1 April 2023 10,333
Charge for year 4,000
At 31 March 2024 14,333
NET BOOK VALUE
At 31 March 2024 5,667
At 31 March 2023 9,667

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 47,619
Additions 3,690
At 31 March 2024 51,309
DEPRECIATION
At 1 April 2023 16,757
Charge for year 8,639
At 31 March 2024 25,396
NET BOOK VALUE
At 31 March 2024 25,913
At 31 March 2023 30,862

MWNT GAS LTD (REGISTERED NUMBER: 12825144)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 9,370 10,652
Other debtors 16,083 3,744
25,453 14,396

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 6,202 6,202
Trade creditors 29,348 45,755
Taxation and social security 6,027 708
Other creditors 12,294 14,513
53,871 67,178

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 8,228 14,489

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mrs H A R Evans and Mrs J E Shipp
Balance outstanding at start of year 5,752 15,949
Amounts advanced 5,313 7,849
Amounts repaid (10,000 ) (18,046 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,065 5,752