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REGISTERED NUMBER: 01794168 (England and Wales)












Mistal Time Services Limited

Unaudited Financial Statements

for the Year Ended 30 April 2024






Mistal Time Services Limited (Registered number: 01794168)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Mistal Time Services Limited

Company Information
for the Year Ended 30 April 2024







Directors: Mr P D T Davies
Mr S L Nesbit





Registered office: Broseley House
116 Bradshawgate
Leigh
Lancashire
WN7 4NT





Registered number: 01794168 (England and Wales)





Accountants: Warr & Co Limited
Chartered Accountants
Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ

Mistal Time Services Limited (Registered number: 01794168)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 240,835 164,917
Investment property 5 129,206 -
370,041 164,917

Current assets
Stocks 4,301 4,085
Debtors 6 248,872 215,586
Cash at bank 126,064 326,400
379,237 546,071
Creditors
Amounts falling due within one year 7 207,098 160,290
Net current assets 172,139 385,781
Total assets less current liabilities 542,180 550,698

Creditors
Amounts falling due after more than one
year

8

(107,424

)

(23,659

)

Provisions for liabilities (45,527 ) (15,295 )
Net assets 389,229 511,744

Mistal Time Services Limited (Registered number: 01794168)

Balance Sheet - continued
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
Capital and reserves
Called up share capital 900 900
Share premium 461 461
Revaluation reserve 9 11,739 11,739
Retained earnings 376,129 498,644
Shareholders' funds 389,229 511,744

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 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 20 September 2024 and were signed on its behalf by:





Mr P D T Davies - Director


Mistal Time Services Limited (Registered number: 01794168)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. Statutory information

Mistal Time Services 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 is measured at the fair value of the consideration received or receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 33% on reducing balance, 25% on reducing balance and 15% on reducing balance

Investment property
Investment properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in profit or loss.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view.

If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Mistal Time Services Limited (Registered number: 01794168)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. Accounting policies - continued
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.

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.

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 31 (2023 - 28 ) .

Mistal Time Services Limited (Registered number: 01794168)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. Tangible fixed assets
Plant and
Land and machinery
buildings etc Totals
£    £    £   
Cost
At 1 May 2023 104,504 312,905 417,409
Additions - 169,707 169,707
Disposals - (64,150 ) (64,150 )
At 30 April 2024 104,504 418,462 522,966
Depreciation
At 1 May 2023 41,595 210,897 252,492
Charge for year 2,090 62,108 64,198
Eliminated on disposal - (34,559 ) (34,559 )
At 30 April 2024 43,685 238,446 282,131
Net book value
At 30 April 2024 60,819 180,016 240,835
At 30 April 2023 62,909 102,008 164,917

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
Cost
At 1 May 2023 58,427
Additions 144,244
Disposals (58,427 )
At 30 April 2024 144,244
Depreciation
At 1 May 2023 30,355
Charge for year 36,061
Eliminated on disposal (30,355 )
At 30 April 2024 36,061
Net book value
At 30 April 2024 108,183
At 30 April 2023 28,072

Mistal Time Services Limited (Registered number: 01794168)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. Investment property
Total
£   
Fair value
Additions 129,206
At 30 April 2024 129,206
Net book value
At 30 April 2024 129,206

6. Debtors: amounts falling due within one year
30.4.24 30.4.23
£    £   
Trade debtors 196,478 178,501
Other debtors 52,394 37,085
248,872 215,586

7. Creditors: amounts falling due within one year
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 5 13,633
Hire purchase contracts 13,542 9,148
Trade creditors 48,847 47,454
Taxation and social security 71,759 82,775
Other creditors 72,945 7,280
207,098 160,290

8. Creditors: amounts falling due after more than one year
30.4.24 30.4.23
£    £   
Hire purchase contracts 107,424 23,659

9. Reserves
Revaluation
reserve
£   
At 1 May 2023
and 30 April 2024 11,739