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Company Registration No. 04726234 (England and Wales)
Mosaic Contour Grinders Limited Unaudited accounts for the year ended 31 January 2023
Mosaic Contour Grinders Limited Unaudited accounts Contents
Page
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Mosaic Contour Grinders Limited Company Information for the year ended 31 January 2023
Director
Martin Gibson
Secretary
Sally Gibson
Company Number
04726234 (England and Wales)
Registered Office
6 POPLAR CLOSE GARSINGTON OXFORD OXFORDSHIRE OX44 9BP
Accountants
Tax Ninja Limited 39 Mullein Road Bicester Oxfordshire OX26 3WF
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Mosaic Contour Grinders Limited Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,657 
1,657 
Current assets
Inventories
7,533 
6,164 
Debtors
29,727 
52,021 
Cash at bank and in hand
10,107 
8,527 
47,367 
66,712 
Creditors: amounts falling due within one year
(994)
(21,042)
Net current assets
46,373 
45,670 
Net assets
48,030 
47,327 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
48,029 
47,326 
Shareholders' funds
48,030 
47,327 
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 2 May 2024 and were signed on its behalf by
Martin Gibson Director Company Registration No. 04726234
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Mosaic Contour Grinders Limited Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
Mosaic Contour Grinders Limited is a private company, limited by shares, registered in England and Wales, registration number 04726234. The registered office is 6 POPLAR CLOSE, GARSINGTON, OXFORD, OXFORDSHIRE, OX44 9BP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Mosaic Contour Grinders Limited Notes to the Accounts for the year ended 31 January 2023
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2022
4,419 
2,210 
6,629 
At 31 January 2023
4,419 
2,210 
6,629 
Depreciation
At 1 February 2022
4,419 
553 
4,972 
At 31 January 2023
4,419 
553 
4,972 
Net book value
At 31 January 2023
- 
1,657 
1,657 
At 31 January 2022
- 
1,657 
1,657 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
6,977 
3,605 
Trade debtors
14,157 
47,666 
Other debtors
8,593 
750 
29,727 
52,021 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
13,912 
11,979 
Taxes and social security
(13,437)
2,126 
Other creditors
(2,791)
(1,890)
Loans from directors
- 
5,517 
Accruals
3,310 
3,310 
994 
21,042 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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