Company registration number: 09012215
Unaudited financial statements
for the period ended 30 April 2024
for
Mounts Bay Linen Hire Ltd
Pages for filing with the Registrar
Mounts Bay Linen Hire Ltd
Accountant's Report to the Board of Directors for the preparation of the unaudited
financial statements
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Mounts Bay Linen Hire Ltd for the period ended 30 April 2024 which comprise the Profit and loss account, Balance sheet and the notes to the financial statements from the company's accounting records and from information and explanations you have given me.
This report is made solely to the Board of Directors of Mounts Bay Linen Hire Ltd, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of Mounts Bay Linen Hire Ltd and state those matters that I have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Mounts Bay Linen Hire Ltd and its Board of Directors, as a body, for my work, or for this report.
It is your duty to ensure that Mounts Bay Linen Hire Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Mounts Bay Linen Hire Ltd. You consider that Mounts Bay Linen Hire Ltd is exempt from the statutory audit requirement for the period.
I have not been instructed to carry out an audit or a review of the accounts of Mounts Bay Linen Hire Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
St Just Bookkeeping & Accounting Services
Harlyan
10 West Place
St Just
Penzance
COrnwall
TR19 7JB
United Kingdom
Date: 27 September 2024
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Company registration number: 09012215
Mounts Bay Linen Hire Ltd
Balance sheet
as at 30 April 2024
30 Apr 24 30 Apr 23
Note £ £ £ £
Fixed assets
Intangible assets 4 17,000 17,000
Tangible assets 5 62,473 59,484
79,473 76,484
Current assets
Stocks 90,581 77,242
Debtors 93,208 120,806
Cash at bank and in hand 5,986 14,938
189,775 212,986
Creditors: amounts falling due within
one year
(111,541) (73,638)
Net current assets 78,234 139,348
Total assets less current liabilities 157,707 215,832
Creditors: Amounts falling due after
more than one year
(89,597) (93,134)
Provisions for liabilities (2,965) -
NET ASSETS 65,145 122,698
Capital and reserves
Called up share capital (2) (2)
Profit and loss account 65,147 122,700
TOTAL EQUITY 65,145 122,698
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the period ended 30 April 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 09012215
Mounts Bay Linen Hire Ltd
Balance sheet - continued
as at 30 April 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 30 September 2024 and signed on its behalf by:
Mrs J Wright-Hopkins, Director
30 September 2024
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Mounts Bay Linen Hire Ltd
Notes to the financial statements
for the period ended 30 April 2024
1 Company information
The company is registered in England and Wales. Its registered number is 09012215. The company is limited by shares. Its registered office is Mounts Bay Linen Hire, Unit 7a, Penzance, Cornwall, TR20 8HX.
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 historic cost convention.
Presentation currency
The company's financial statements are presented in sterling.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
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.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Goodwill - Goodwill is included in the financial statements at the
acquisition value there is no impairment.
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Mounts Bay Linen Hire Ltd
Notes to the financial statements - continued
for the period ended 30 April 2024
2 Accounting policies - continued
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Buildings & Structures:
Improvements to property - 3% reducing balance
Structures & Buildings - 3% straight line
Motor vehicles - 10% straight line
Computer equipment - 25% straight line
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 period comprises current and deferred taxation. Tax is recognised in the Profit and loss account, 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 taxation
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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the period the average number of employees was 25 (2023 - 23).
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Mounts Bay Linen Hire Ltd
Notes to the financial statements - continued
for the period ended 30 April 2024
4 Intangible assets
Goodwill
£
Cost
At 25 April 2014 17,000
At 30 April 2024 17,000
Amortisation
At 30 April 2024 -
Net book value
At 30 April 2024 17,000
At 30 April 2023 17,000
5 Tangible fixed assets
Buildings &
Structures
£
Cost
At 25 April 2014 112,234
Additions 20,589
Disposals (27,964)
At 30 April 2024 104,859
Depreciation
At 25 April 2014 52,750
Charge for period 11,257
Eliminated on disposal (21,621)
At 30 April 2024 42,386
Net book value
At 30 April 2024 62,473
At 30 April 2023 59,484
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