Registered number
08590512
Mohair Bear Making Supplies Limited
Unaudited Filleted Accounts
31 July 2024
Mohair Bear Making Supplies Limited
Registered number: 08590512
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 11,003 12,330
Current assets
Stocks 35,750 29,886
Debtors 5 2,886 1,730
Cash at bank and in hand 63,927 84,690
102,563 116,306
Creditors: amounts falling due within one year 6 (61,442) (58,871)
Net current assets 41,121 57,435
Total assets less current liabilities 52,124 69,765
Provisions for liabilities (2,751) (3,082)
Net assets 49,373 66,683
Capital and reserves
Called up share capital 2 2
Profit and loss account 49,371 66,681
Shareholders' funds 49,373 66,683
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C D Capps
Director
Approved by the board on 20 August 2024
Mohair Bear Making Supplies Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 16,000
At 31 July 2024 16,000
Amortisation
At 1 August 2023 16,000
At 31 July 2024 16,000
Net book value
At 31 July 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 11,351 21,730 33,081
Additions 2,341 - 2,341
At 31 July 2024 13,692 21,730 35,422
Depreciation
At 1 August 2023 8,170 12,581 20,751
Charge for the year 1,380 2,288 3,668
At 31 July 2024 9,550 14,869 24,419
Net book value
At 31 July 2024 4,142 6,861 11,003
At 31 July 2023 3,181 9,149 12,330
5 Debtors 2024 2023
£ £
Other debtors 2,886 1,730
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 19,824 7,597
Taxation and social security costs 7,246 16,429
Other creditors 34,372 34,845
61,442 58,871
7 Other information
Mohair Bear Making Supplies Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 3 Horton Court
Hortonwood 50
Telford
Shropshire
TF1 7GY
Mohair Bear Making Supplies Limited 08590512 false 2023-08-01 2024-07-31 2024-07-31 VT Final Accounts July 2024 Mr C D Capps No description of principal activity 08590512 2022-08-01 2023-07-31 08590512 core:WithinOneYear 2023-07-31 08590512 core:ShareCapital 2023-07-31 08590512 core:RetainedEarningsAccumulatedLosses 2023-07-31 08590512 2023-08-01 2024-07-31 08590512 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08590512 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 08590512 bus:Director40 2023-08-01 2024-07-31 08590512 1 2023-08-01 2024-07-31 08590512 2 2023-08-01 2024-07-31 08590512 core:PlantMachinery 2023-08-01 2024-07-31 08590512 core:Vehicles 2023-08-01 2024-07-31 08590512 countries:England 2023-08-01 2024-07-31 08590512 bus:FRS102 2023-08-01 2024-07-31 08590512 bus:FilletedAccounts 2023-08-01 2024-07-31 08590512 2024-07-31 08590512 core:WithinOneYear 2024-07-31 08590512 core:ShareCapital 2024-07-31 08590512 core:RetainedEarningsAccumulatedLosses 2024-07-31 08590512 core:Goodwill 2024-07-31 08590512 core:PlantMachinery 2024-07-31 08590512 core:Vehicles 2024-07-31 08590512 2023-07-31 08590512 core:Goodwill 2023-07-31 08590512 core:PlantMachinery 2023-07-31 08590512 core:Vehicles 2023-07-31 iso4217:GBP xbrli:pure