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REGISTERED NUMBER: 06526726 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Moggs of Wells (Engineering) Limited

Moggs of Wells (Engineering) Limited (Registered number: 06526726)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Moggs of Wells (Engineering) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: J N H Barnes





REGISTERED OFFICE: 20a High Street
Glastonbury
Somerset
BA6 9DU





REGISTERED NUMBER: 06526726 (England and Wales)





ACCOUNTANTS: Edward Howells Associates Limited
Chartered Certified Accountants
20a High Street
Glastonbury
Somerset
BA6 9DU

Moggs of Wells (Engineering) Limited (Registered number: 06526726)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,153 5,302

CURRENT ASSETS
Stocks 108,874 113,768
Debtors 5 5,943 4,721
Cash in hand 136 450
114,953 118,939
CREDITORS
Amounts falling due within one year 6 147,048 139,331
NET CURRENT LIABILITIES (32,095 ) (20,392 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(29,942

)

(15,090

)

CREDITORS
Amounts falling due after more than one
year

7

22,928

36,316
NET LIABILITIES (52,870 ) (51,406 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (52,871 ) (51,407 )
(52,870 ) (51,406 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Moggs of Wells (Engineering) Limited (Registered number: 06526726)

Balance Sheet - continued
31 March 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 director and authorised for issue on 20 September 2024 and were signed by:





J N H Barnes - Director


Moggs of Wells (Engineering) Limited (Registered number: 06526726)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Moggs of Wells (Engineering) 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 discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Moggs of Wells (Engineering) Limited (Registered number: 06526726)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 7,726 36,640 4,141 48,507
Disposals - (16,250 ) - (16,250 )
At 31 March 2024 7,726 20,390 4,141 32,257
DEPRECIATION
At 1 April 2023 6,534 32,530 4,141 43,205
Charge for year 297 2,039 - 2,336
Eliminated on disposal - (15,437 ) - (15,437 )
At 31 March 2024 6,831 19,132 4,141 30,104
NET BOOK VALUE
At 31 March 2024 895 1,258 - 2,153
At 31 March 2023 1,192 4,110 - 5,302

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 3,528 2,055
VAT 540 791
Prepayments 1,875 1,875
5,943 4,721

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 30,988 29,652
Hire purchase contracts - 1,632
Trade creditors 30,364 17,902
Social security and other taxes 138 48
Other creditors 2,042 8,082
Directors' current accounts 82,366 79,578
Accrued expenses 1,150 2,437
147,048 139,331

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 22,928 36,316