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REGISTERED NUMBER: 06222023 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Menai Tractors Ltd

Menai Tractors Ltd (Registered number: 06222023)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Menai Tractors Ltd

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mr RW Jones
Mrs G Parry-Jones





SECRETARY: Mrs G Parry-Jones





REGISTERED OFFICE: Dinas
Llanwnda
Caernarfon
Gwynedd
LL54 5UG





REGISTERED NUMBER: 06222023 (England and Wales)





ACCOUNTANTS: Emyr Mortimer Cyf
32 Y Maes
Caernarfon
Gwynedd
LL55 2NN

Menai Tractors Ltd (Registered number: 06222023)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 180,843 162,427

CURRENT ASSETS
Stocks 2,705,222 3,189,856
Debtors 5 691,279 753,705
Cash at bank and in hand 295,139 219,056
3,691,640 4,162,617
CREDITORS
Amounts falling due within one year 6 3,399,072 3,823,022
NET CURRENT ASSETS 292,568 339,595
TOTAL ASSETS LESS CURRENT
LIABILITIES

473,411

502,022

CREDITORS
Amounts falling due after more than
one year

7

(231,373

)

(302,342

)

PROVISIONS FOR LIABILITIES (26,778 ) (16,954 )
NET ASSETS 215,260 182,726

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 215,160 182,626
SHAREHOLDERS' FUNDS 215,260 182,726

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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.

Menai Tractors Ltd (Registered number: 06222023)

Balance Sheet - continued
30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2024 and were signed on its behalf by:





Mr RW Jones - Director


Menai Tractors Ltd (Registered number: 06222023)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Menai Tractors 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.

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 cost and 15% 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.

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.

Menai Tractors Ltd (Registered number: 06222023)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

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 9 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 288,019
Additions 56,511
Disposals (13,200 )
At 30 September 2023 331,330
DEPRECIATION
At 1 October 2022 125,592
Charge for year 35,257
Eliminated on disposal (10,362 )
At 30 September 2023 150,487
NET BOOK VALUE
At 30 September 2023 180,843
At 30 September 2022 162,427

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 666,751 624,858
Other debtors 24,528 128,847
691,279 753,705

Menai Tractors Ltd (Registered number: 06222023)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 61,455 61,455
Hire purchase contracts 20,796 16,349
Trade creditors 3,042,678 3,307,718
Taxation and social security 70,858 25,952
Other creditors 203,285 411,548
3,399,072 3,823,022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans 156,556 218,428
Hire purchase contracts 74,817 83,914
231,373 302,342

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 14,281

8. RELATED PARTY DISCLOSURES

The Directors have considered the requirements regarding the related party disclosures and apart from an in credit Directors Loan account maintained for the directors, there was nothing to disclose.