Registered number
03268442
Mud Huts of Mudeford Limited
Filleted Accounts
31 December 2023
Mud Huts of Mudeford Limited
Registered number: 03268442
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 5,261 2,948
Current assets
Debtors 4 43,343 12,453
Cash at bank and in hand 124,070 187,587
167,413 200,040
Creditors: amounts falling due within one year 5 (160,442) (130,088)
Net current assets 6,971 69,952
Total assets less current liabilities 12,232 72,900
Creditors: amounts falling due after more than one year 6 (3,117) (5,151)
Net assets 9,115 67,749
Capital and reserves
Called up share capital 100 100
Profit and loss account 9,015 67,649
Shareholders' funds 9,115 67,749
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.
Ian Chandler
Director
Approved by the board on 30 October 2024
Mud Huts of Mudeford Limited
Notes to the Accounts
for the year ended 31 December 2023
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 rendering of services. 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.
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, 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 over 5 years
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. Current tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 3,931
Additions 3,874
At 31 December 2023 7,805
Depreciation
At 1 January 2023 983
Charge for the year 1,561
At 31 December 2023 2,544
Net book value
At 31 December 2023 5,261
At 31 December 2022 2,948
4 Debtors 2023 2022
£ £
Trade debtors - 2,639
Other debtors 43,343 9,814
43,343 12,453
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,193 2,193
Trade creditors 96,047 97,533
Taxation and social security costs 8,576 12,638
Other creditors 53,626 17,724
160,442 130,088
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 3,117 5,151
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
J Biss
Loan 8,066 (8,066) - -
8,066 (8,066) - -
8 Controlling party
The company is controlled by I Chandler and J Biss.
9 Other information
Mud Huts of Mudeford Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Haven Cottages
Mudeford Quay
Christchurch
Dorset
BH23 4AB
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