Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31No description of principal activity4false2023-08-014truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01652961 2023-08-01 2024-07-31 01652961 2022-08-01 2023-07-31 01652961 2024-07-31 01652961 2023-07-31 01652961 c:Director1 2023-08-01 2024-07-31 01652961 d:PlantMachinery 2023-08-01 2024-07-31 01652961 d:PlantMachinery 2024-07-31 01652961 d:PlantMachinery 2023-07-31 01652961 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01652961 d:MotorVehicles 2023-08-01 2024-07-31 01652961 d:MotorVehicles 2024-07-31 01652961 d:MotorVehicles 2023-07-31 01652961 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01652961 d:FurnitureFittings 2023-08-01 2024-07-31 01652961 d:FurnitureFittings 2024-07-31 01652961 d:FurnitureFittings 2023-07-31 01652961 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01652961 d:OfficeEquipment 2023-08-01 2024-07-31 01652961 d:OfficeEquipment 2024-07-31 01652961 d:OfficeEquipment 2023-07-31 01652961 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01652961 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01652961 d:CurrentFinancialInstruments 2024-07-31 01652961 d:CurrentFinancialInstruments 2023-07-31 01652961 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 01652961 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 01652961 d:ShareCapital 2024-07-31 01652961 d:ShareCapital 2023-07-31 01652961 d:RetainedEarningsAccumulatedLosses 2024-07-31 01652961 d:RetainedEarningsAccumulatedLosses 2023-07-31 01652961 c:FRS102 2023-08-01 2024-07-31 01652961 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 01652961 c:FullAccounts 2023-08-01 2024-07-31 01652961 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 01652961 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 01652961 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 01652961









MANCHESTER REFRACTORY CO. (1982) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
MANCHESTER REFRACTORY CO. (1982) LIMITED
REGISTERED NUMBER: 01652961

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
49,529
35,349

  
49,529
35,349

Current assets
  

Stocks
  
3,954
17,430

Debtors: amounts falling due within one year
 5 
44,812
61,627

Cash at bank and in hand
  
37,344
-

  
86,110
79,057

Creditors: amounts falling due within one year
 7 
(128,915)
(154,993)

Net current liabilities
  
 
 
(42,805)
 
 
(75,936)

Total assets less current liabilities
  
6,724
(40,587)

Provisions for liabilities
  

Deferred tax
 8 
(6,838)
(6,043)

  
 
 
(6,838)
 
 
(6,043)

Net liabilities
  
(114)
(46,630)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(214)
(46,730)

  
(114)
(46,630)

Page 1

 
MANCHESTER REFRACTORY CO. (1982) LIMITED
REGISTERED NUMBER: 01652961
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
G. Dodd
Director

Date: 11 September 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
MANCHESTER REFRACTORY CO. (1982) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Manchester Refractory Co (1982) Limited is a private company limited by shares, registered in the United Kingdom number 01652961. Its registered office is Manor House, 35 St Thomas's Road, Chorley, Lancashire, PR7 1HP.
During the year, the principal activity of the company continued to be that of the manufacture and repair of kilns.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
MANCHESTER REFRACTORY CO. (1982) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of income and retained earnings on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 August 2022 to continue to be charged over the period to the first market rent review rather than the term of the lease.

 
2.4

Borrowing costs

All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
MANCHESTER REFRACTORY CO. (1982) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and equipment
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
15%
reducing balance
Office equipment
-

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

Page 5

 
MANCHESTER REFRACTORY CO. (1982) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of income and retained earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 6

 
MANCHESTER REFRACTORY CO. (1982) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


TANGIBLE FIXED ASSETS





Plant & machinery
Motor vehicles
Fixtures & fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 August 2023
20,295
41,240
4,512
-
66,047


Additions
600
22,000
-
410
23,010



At 31 July 2024

20,895
63,240
4,512
410
89,057



Depreciation


At 1 August 2023
19,215
7,116
4,368
-
30,699


Charge for the year on owned assets
215
8,531
22
62
8,830



At 31 July 2024

19,430
15,647
4,390
62
39,529



Net book value



At 31 July 2024
1,465
47,593
122
348
49,528



At 31 July 2023
1,081
34,124
144
-
35,349

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:






5.


Debtors

2024
2023
£
£


Trade debtors
40,267
54,644

Other debtors
3,795
6,233

Prepayments and accrued income
750
750

44,812
61,627


Page 7

 
MANCHESTER REFRACTORY CO. (1982) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
37,344
-

Less: bank overdrafts
-
(67,418)

37,344
(67,418)



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
67,418

Trade creditors
64,167
49,269

Other taxation and social security
18,326
861

Other creditors
39,025
30,647

Accruals and deferred income
7,397
6,798

128,915
154,993



8.


Deferred taxation




2024


£






At beginning of year
(6,044)


Charged to profit or loss
(794)



At end of year
(6,838)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(6,839)
(6,044)

(6,839)
(6,044)

Page 8

 
MANCHESTER REFRACTORY CO. (1982) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,200 (2023 - £1,200).

 
Page 9