REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
The Myers Touch Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
The Myers Touch Limited |
The Myers Touch Limited (Registered number: 05198254) |
Contents of the Financial Statements |
for the Year Ended 31 January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
The Myers Touch Limited |
Company Information |
for the Year Ended 31 January 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1 Post Office House |
184 Bridge Road |
Sarisbury Green |
Southampton |
Hampshire |
SO31 7ED |
The Myers Touch Limited (Registered number: 05198254) |
Balance Sheet |
31 January 2024 |
31.1.24 | 31.1.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
The Myers Touch Limited (Registered number: 05198254) |
Balance Sheet - continued |
31 January 2024 |
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 |
The Myers Touch Limited (Registered number: 05198254) |
Notes to the Financial Statements |
for the Year Ended 31 January 2024 |
1. | STATUTORY INFORMATION |
The Myers Touch Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
In respect of supply and fit work 25% of turnover and related cost of sales are accounted for on receipt of the customer deposit and any additional turnover and cost of sales are accounted for based on the costs incurred to date against total costs to be incurred. |
If work is supply only then 50% of turnover and related cost of sales are recognised when the first payment is received. The balance of the turnover and cost of sales is realised upon delivery. |
Goodwill |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
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. |
The Myers Touch Limited (Registered number: 05198254) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
2. | ACCOUNTING POLICIES - continued |
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 |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 February 2023 |
and 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
The Myers Touch Limited (Registered number: 05198254) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | Plant and | and |
leasehold | machinery | fittings |
£ | £ | £ |
COST |
At 1 February 2023 |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 February 2023 |
Disposals | ( |
) | ( |
) |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
6. | STOCKS |
31.1.24 | 31.1.23 |
£ | £ |
Stocks |
The Myers Touch Limited (Registered number: 05198254) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
Directors' current accounts | 4,687 | - |
VAT |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 22,580 | - |
Other creditors |
Directors' current accounts | - | 1,514 |
Payments on account |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Bank loans - 2-5 years |
10. | RELATED PARTY DISCLOSURES |
During the year in question £25,000 (2023 £23,167) was paid by way of rent into a SIP, to which the beneficiary is Mr K Myers - the Director. |
During the year the following dividends were also declared and paid:- |
Mr K Myers £19,500 (2023 £26,000) |
Mrs H Myers £19,500 (2023 £26,000) |
11. | ULTIMATE CONTROLLING PARTY |
The company is ultimately controlled by the directors by virtue of their 100% interest in the issued share capital of the company. |