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REGISTERED NUMBER: 09724520 (England and Wales)















M A Austin Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024






M A Austin Limited (Registered number: 09724520)






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


M A Austin Limited

Company Information
for the year ended 31 January 2024







DIRECTORS: MH Austin
AH Austin





REGISTERED OFFICE: 167 Conway Drive
Fulwood
Preston
Lancashire
PR2 3ES





REGISTERED NUMBER: 09724520 (England and Wales)





ACCOUNTANTS: McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

M A Austin Limited (Registered number: 09724520)

Balance Sheet
31 January 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 8,210 12,316
Tangible assets 5 4,982 6,642
13,192 18,958

CURRENT ASSETS
Stocks 4,700 3,400
Debtors 6 10,335 13,782
Cash at bank 2,759 1,638
17,794 18,820
CREDITORS
Amounts falling due within one year 7 19,530 21,697
NET CURRENT LIABILITIES (1,736 ) (2,877 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,456

16,081

CREDITORS
Amounts falling due after more than one
year

8

7,430

14,289
NET ASSETS 4,026 1,792

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 3,926 1,692
SHAREHOLDERS' FUNDS 4,026 1,792

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.

M A Austin Limited (Registered number: 09724520)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2024 and were signed on its behalf by:





AH Austin - Director


M A Austin Limited (Registered number: 09724520)

Notes to the Financial Statements
for the year ended 31 January 2024

1. STATUTORY INFORMATION

M A Austin 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The amounts in the financial statements have been rounded to the nearest £1.

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.

At the balance sheet date the company had an excess of current liabilities over current assets. The financial statements have been prepared on a going concern basis as the directors have confirmed that they will continue to provide financial support to the company for the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten 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.
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.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.


M A Austin Limited (Registered number: 09724520)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

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 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 February 2023
and 31 January 2024 41,058
AMORTISATION
At 1 February 2023 28,742
Charge for year 4,106
At 31 January 2024 32,848
NET BOOK VALUE
At 31 January 2024 8,210
At 31 January 2023 12,316

M A Austin Limited (Registered number: 09724520)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 February 2023
and 31 January 2024 49,750 4,389 54,139
DEPRECIATION
At 1 February 2023 43,108 4,389 47,497
Charge for year 1,660 - 1,660
At 31 January 2024 44,768 4,389 49,157
NET BOOK VALUE
At 31 January 2024 4,982 - 4,982
At 31 January 2023 6,642 - 6,642

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 4,279 4,279
Directors' current accounts 6,056 9,503
10,335 13,782

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 6,859 6,859
Corporation tax 5,850 7,106
Social security and other taxes 1,406 2,495
Accruals and deferred income 1,000 1,000
Accrued expenses 4,415 4,237
19,530 21,697

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans - 2-5 years 7,430 14,289

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 14,289 21,148

M A Austin Limited (Registered number: 09724520)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
80 Ordinary A £1 80 80
20 Ordinary B £1 20 20
100 100

11. RELATED PARTY DISCLOSURES

In the opinion of the directors the company is controlled by AH Austin.