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REGISTERED NUMBER: 05198254 (England and Wales)















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: K Myers
H Myers





SECRETARY: H Myers





REGISTERED OFFICE: 29 Springvale Road
Winchester
Hampshire
SO23 7ND





REGISTERED NUMBER: 05198254 (England and Wales)





ACCOUNTANTS: PD Accountancy Services Ltd
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 1 1
Tangible assets 5 17,080 26,122
17,081 26,123

CURRENT ASSETS
Stocks 6 118,931 84,261
Debtors 7 71,400 11,292
Cash at bank 51,583 132,748
241,914 228,301
CREDITORS
Amounts falling due within one year 8 239,078 215,738
NET CURRENT ASSETS 2,836 12,563
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,917

38,686

CREDITORS
Amounts falling due after more than one
year

9

(14,603

)

(28,030

)

PROVISIONS FOR LIABILITIES (3,244 ) (4,962 )
NET ASSETS 2,070 5,694

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,970 5,594
SHAREHOLDERS' FUNDS 2,070 5,694

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

The Myers Touch Limited (Registered number: 05198254)

Balance Sheet - continued
31 January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2024 and were signed on its behalf by:




K Myers - Director



H Myers - Director


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 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 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
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 1
NET BOOK VALUE
At 31 January 2024 1
At 31 January 2023 1

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 29,287 4,589 35,893
Disposals (3,164 ) (3,228 ) (8,356 )
At 31 January 2024 26,123 1,361 27,537
DEPRECIATION
At 1 February 2023 22,921 3,579 26,396
Charge for year 1,423 391 2,375
Eliminated on disposal (3,165 ) (3,028 ) (7,928 )
At 31 January 2024 21,179 942 20,843
NET BOOK VALUE
At 31 January 2024 4,944 419 6,694
At 31 January 2023 6,366 1,010 9,497

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 18,057 19,347 107,173
Disposals - (7,139 ) (21,887 )
At 31 January 2024 18,057 12,208 85,286
DEPRECIATION
At 1 February 2023 12,463 15,692 81,051
Charge for year 1,398 2,828 8,415
Eliminated on disposal - (7,139 ) (21,260 )
At 31 January 2024 13,861 11,381 68,206
NET BOOK VALUE
At 31 January 2024 4,196 827 17,080
At 31 January 2023 5,594 3,655 26,122

6. STOCKS
31.1.24 31.1.23
£    £   
Stocks 118,931 84,261

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 60,162 2,143
Amounts recoverable on contract 772 635
Other debtors - 71
Directors' current accounts 4,687 -
VAT - 3,792
Prepayments 5,779 4,651
71,400 11,292

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 15,100 14,400
Trade creditors 11,142 51,138
Tax 10,632 9,759
Social security and other taxes 4,854 6,679
VAT 22,580 -
Other creditors 9,984 6,501
Directors' current accounts - 1,514
Payments on account 163,684 120,165
Accrued expenses 1,102 5,582
239,078 215,738

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 2-5 years 14,603 28,030

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.