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REGISTERED NUMBER: 05652917 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MASSEY FORGING LIMITED

MASSEY FORGING LIMITED (REGISTERED NUMBER: 05652917)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MASSEY FORGING LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: A J Nicholson
J Nicholson





SECRETARY: J Nicholson





REGISTERED OFFICE: Booth Street Chambers
Booth Street
Ashton-under-Lyne
Lancashire
OL6 7LQ





REGISTERED NUMBER: 05652917 (England and Wales)





ACCOUNTANTS: Moss & Williamson Limited
Chartered Accountants
Booth Street Chambers
Ashton-under-Lyne
Lancashire
OL6 7LQ

MASSEY FORGING LIMITED (REGISTERED NUMBER: 05652917)

ABRIDGED BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 103,878 90,564

CURRENT ASSETS
Stocks 75,017 118,910
Debtors 117,147 55,100
Cash at bank 275,161 130,426
467,325 304,436
CREDITORS
Amounts falling due within one year 467,820 301,765
NET CURRENT (LIABILITIES)/ASSETS (495 ) 2,671
TOTAL ASSETS LESS CURRENT
LIABILITIES

103,383

93,235

CREDITORS
Amounts falling due after more than one
year

(22,415

)

(32,366

)

PROVISIONS FOR LIABILITIES (25,970 ) (8,864 )
NET ASSETS 54,998 52,005

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 54,898 51,905
SHAREHOLDERS' FUNDS 54,998 52,005

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 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.

MASSEY FORGING LIMITED (REGISTERED NUMBER: 05652917)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 September 2024 and were signed on its behalf by:




A J Nicholson - Director



J Nicholson - Director


MASSEY FORGING LIMITED (REGISTERED NUMBER: 05652917)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Massey Forging 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

MASSEY FORGING LIMITED (REGISTERED NUMBER: 05652917)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Operating leases
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 141,725
Additions 25,897
At 31 March 2024 167,622
DEPRECIATION
At 1 April 2023 51,161
Charge for year 12,583
At 31 March 2024 63,744
NET BOOK VALUE
At 31 March 2024 103,878
At 31 March 2023 90,564

5. ULTIMATE CONTROLLING PARTY

The controlling party is Massey (F & M) Holdings Limited.

The ultimate controlling party is J Nicholson.