0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 230,000 149,500 11,500 161,000 69,000 80,500 xbrli:pure xbrli:shares iso4217:GBP NI602123 2023-05-01 2024-04-30 NI602123 2024-04-30 NI602123 2023-04-30 NI602123 2022-05-01 2023-04-30 NI602123 2023-04-30 NI602123 2022-04-30 NI602123 bus:Director1 2023-05-01 2024-04-30 NI602123 core:NetGoodwill 2023-04-30 NI602123 core:NetGoodwill 2024-04-30 NI602123 core:PlantMachinery 2023-04-30 NI602123 core:MotorVehicles 2023-04-30 NI602123 core:PlantMachinery 2024-04-30 NI602123 core:MotorVehicles 2024-04-30 NI602123 core:PlantMachinery 2023-05-01 2024-04-30 NI602123 core:MotorVehicles 2023-05-01 2024-04-30 NI602123 core:WithinOneYear 2024-04-30 NI602123 core:WithinOneYear 2023-04-30 NI602123 core:ShareCapital 2024-04-30 NI602123 core:ShareCapital 2023-04-30 NI602123 core:RetainedEarningsAccumulatedLosses 2024-04-30 NI602123 core:RetainedEarningsAccumulatedLosses 2023-04-30 NI602123 core:NetGoodwill 2023-05-01 2024-04-30 NI602123 core:NetGoodwill 2023-04-30 NI602123 core:PlantMachinery 2023-04-30 NI602123 core:MotorVehicles 2023-04-30 NI602123 bus:SmallEntities 2023-05-01 2024-04-30 NI602123 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 NI602123 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 NI602123 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI602123 bus:FullAccounts 2023-05-01 2024-04-30
COMPANY REGISTRATION NUMBER: NI602123
Masseys of Saintfield Limited
Filleted Unaudited Financial Statements
30 April 2024
Masseys of Saintfield Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
69,000
80,500
Tangible assets
6
138,342
141,011
---------
---------
207,342
221,511
Current assets
Stocks
25,000
22,000
Debtors
7
7,030
12,373
Cash at bank and in hand
43,886
59,569
--------
--------
75,916
93,942
Creditors: amounts falling due within one year
8
144,330
187,765
---------
---------
Net current liabilities
68,414
93,823
---------
---------
Total assets less current liabilities
138,928
127,688
---------
---------
Net assets
138,928
127,688
---------
---------
Capital and reserves
Called up share capital
4
4
Profit and loss account
138,924
127,684
---------
---------
Shareholders funds
138,928
127,688
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Masseys of Saintfield Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 7 October 2024 , and are signed on behalf of the board by:
Mr S Dugan
Director
Company registration number: NI602123
Masseys of Saintfield Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 34 Main Street, Saintfield, BT24 7AB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: Nil).
5. Intangible assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
230,000
---------
Amortisation
At 1 May 2023
149,500
Charge for the year
11,500
---------
At 30 April 2024
161,000
---------
Carrying amount
At 30 April 2024
69,000
---------
At 30 April 2023
80,500
---------
6. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 May 2023
233,273
22,000
35,105
290,378
Additions
20,912
1,979
22,891
---------
--------
--------
---------
At 30 April 2024
254,185
22,000
37,084
313,269
---------
--------
--------
---------
Depreciation
At 1 May 2023
119,295
12,720
17,352
149,367
Charge for the year
18,307
2,320
4,933
25,560
---------
--------
--------
---------
At 30 April 2024
137,602
15,040
22,285
174,927
---------
--------
--------
---------
Carrying amount
At 30 April 2024
116,583
6,960
14,799
138,342
---------
--------
--------
---------
At 30 April 2023
113,978
9,280
17,753
141,011
---------
--------
--------
---------
7. Debtors
2024
2023
£
£
Trade debtors
1,000
1,000
Other debtors
6,030
11,373
-------
--------
7,030
12,373
-------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
31,233
145,108
Corporation tax
139
139
Other creditors
112,958
42,518
---------
---------
144,330
187,765
---------
---------