Registered number
05338252
EVERETT MASSON & FURBY (SOUTH AND WEST WALES) LIMITED
Filleted Accounts
31 March 2024
EVERETT MASSON & FURBY (SOUTH AND WEST WALES) LIMITED
Registered number: 05338252
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 42,500 42,500
Tangible assets 4 813 1,016
43,313 43,516
Current assets
Cash at bank and in hand 14,483 30,846
Creditors: amounts falling due within one year 5 (9,922) (15,502)
Net current assets 4,561 15,344
Net assets 47,874 58,860
Capital and reserves
Called up share capital 100 100
Profit and loss account 47,774 58,760
Shareholders' funds 47,874 58,860
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.
Mr M Harrison
Director
Approved by the board on 13 November 2024
EVERETT MASSON & FURBY (SOUTH AND WEST WALES) LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
Additions 42,500
At 31 March 2024 42,500
Amortisation
At 31 March 2024 -
Net book value
At 31 March 2024 42,500
Goodwill is not being written off.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 4,295
At 31 March 2024 4,295
Depreciation
At 1 April 2023 3,279
Charge for the year 203
At 31 March 2024 3,482
Net book value
At 31 March 2024 813
At 31 March 2023 1,016
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 466 1,312
Corporation tax 5,915 7,086
Other taxes and social security costs 1,828 5,323
Other creditors 1,713 1,781
9,922 15,502
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr M Harrison
Directors loan account (252) 21,153 (21,128) (227)
Mrs J A Harrison
Directors loan account (252) 21,153 (21,128) (227)
(504) 42,306 (42,256) (454)
7 Controlling party
The company is ultimately controlled by the directors by virtue of their shareholding.
8 Other information
EVERETT MASSON & FURBY (SOUTH AND WEST WALES) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
PO Box 156
Flat, The Old Post Office
New Street
Cwmbran
NP44 9EA
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