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Registered number: 06666147
Massey Foundations & Piling Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
R J P Eva, FCA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 06666147
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 20,214 26,953
20,214 26,953
CURRENT ASSETS
Stocks 5 - 976
Debtors 6 62,436 45,366
Cash at bank and in hand 197,665 154,463
260,101 200,805
Creditors: Amounts Falling Due Within One Year 7 (88,538 ) (87,955 )
NET CURRENT ASSETS (LIABILITIES) 171,563 112,850
TOTAL ASSETS LESS CURRENT LIABILITIES 191,777 139,803
NET ASSETS 191,777 139,803
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 191,677 139,703
SHAREHOLDERS' FUNDS 191,777 139,803
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Philip Nelson
Director
26/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Massey Foundations & Piling Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06666147 . The registered office is Tishon House, Warrington Road, High Legh, Knutsford, Cheshire, WA16 0RT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents amounts receivable for the construction works invoiced by the Company, net of value added tax.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
The Corporation Tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 2 2
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 January 2023 14,950 55,925 70,875
As at 31 December 2023 14,950 55,925 70,875
Depreciation
As at 1 January 2023 13,475 30,447 43,922
Provided during the period 369 6,370 6,739
As at 31 December 2023 13,844 36,817 50,661
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 December 2023 1,106 19,108 20,214
As at 1 January 2023 1,475 25,478 26,953
5. Stocks
2023 2022
£ £
Work in progress - 976
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 61,169 44,086
VAT 1,267 1,280
62,436 45,366
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 21,069 46,838
Bank loans and overdrafts 2,759 -
Corporation tax 30,529 12,358
Other taxes and social security 6,679 4,746
Other creditors 19,472 19,472
Accruals and deferred income 8,030 4,541
88,538 87,955
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 4