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Registration number: 05579926


C & S Malpass Limited

Directors' Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

C & S Malpass Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

C & S Malpass Limited

Company Information

Directors

Mr C J Malpass

Mrs S R Malpass

Company secretary

Mrs S R Malpass

Registered office

Lower Cowley Farm
Wood Eaton
Gnosall
Stafford
ST20 0BE

Bankers

Lloyds TSB
Newport Shropshire
95 High Street
Newport
Shropshire
TF10 7AZ

Accountants

Howsons (Stoke) Limited
Chartered Accountants
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

 

C & S Malpass Limited

(Registration number: 05579926)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

367,170

317,741

Current assets

 

Stocks

6

325,184

394,310

Debtors

7

103,495

117,864

Cash at bank and in hand

 

410,646

404,955

 

839,325

917,129

Creditors: Amounts falling due within one year

8

(92,889)

(96,736)

Net current assets

 

746,436

820,393

Total assets less current liabilities

 

1,113,606

1,138,134

Provisions for liabilities

(63,000)

(57,000)

Net assets

 

1,050,606

1,081,134

Capital and reserves

 

Called up share capital

200

200

Capital redemption reserve

16

16

Retained earnings

1,050,390

1,080,918

Shareholders' funds

 

1,050,606

1,081,134

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of Financial Reporting Standard 102 (FRS 102) Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

C & S Malpass Limited

(Registration number: 05579926)
Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 29 November 2024 and signed on its behalf by:
 

.........................................
Mr C J Malpass
Director

.........................................
Mrs S R Malpass
Director

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

C & S Malpass Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales..

The address of its registered office is:
Lower Cowley Farm
Wood Eaton
Gnosall
Stafford
ST20 0BE

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's presentational currency is pound sterling (£). The accounts are rounded to the nearest whole pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

C & S Malpass Limited

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

Asset class

Depreciation method and rate

Plant and equipment

15% reducing balance basis

Computer equipment

3 years straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Milk quota

straight line to 31 March 2009

Financial instruments

Classification
Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including trade and other trade creditors, bank and other loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

 Recognition and measurement
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit and loss.

 Impairment
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised in the profit or loss.

Financial assets are derecognised when a) the contractual rights to the cash flows from the asset expire or are settled, or b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

 

C & S Malpass Limited

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

4

Intangible assets

Milk quota
£

Total
£

Cost or valuation

At 1 April 2023

144,155

144,155

At 31 March 2024

144,155

144,155

Amortisation

At 1 April 2023

144,155

144,155

At 31 March 2024

144,155

144,155

Carrying amount

At 31 March 2024

-

-

5

Tangible assets

Land and buildings
£

Plant and machinery
£

Office equipment

Total
£

Cost or valuation

At 1 April 2023

20,796

473,133

2,198

496,127

Additions

21,573

121,326

-

142,899

Disposals

-

(71,000)

-

(71,000)

At 31 March 2024

42,369

523,459

2,198

568,026

Depreciation

At 1 April 2023

1,686

174,502

2,198

178,386

Charge for the year

4,160

50,613

-

54,773

Eliminated on disposal

-

(32,303)

-

(32,303)

At 31 March 2024

5,846

192,812

2,198

200,856

Carrying amount

At 31 March 2024

36,523

330,647

-

367,170

At 31 March 2023

19,110

298,631

-

317,741

6

Stocks

2024
£

2023
£

Other inventories

325,184

394,310

 

C & S Malpass Limited

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

7

Debtors

2024
£

2023
£

Trade debtors

95,079

107,306

Other debtors

8,416

10,558

 

103,495

117,864

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

49,595

56,777

Taxation and social security

 

4,719

3,121

Other creditors

 

32,880

20,514

Other borrowings

9

5,695

16,324

 

92,889

96,736

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

5,695

16,324