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Registration number: 12650979

Mousen Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Mousen Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 10

 

Mousen Limited

(Registration number: 12650979)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

4,563,728

3,558,797

Current assets

 

Stocks

6

1,085

-

Debtors

7

588,949

400,781

Cash at bank and in hand

 

53,635

3,864

 

643,669

404,645

Creditors: Amounts falling due within one year

8

(565,686)

(647,472)

Net current assets/(liabilities)

 

77,983

(242,827)

Total assets less current liabilities

 

4,641,711

3,315,970

Creditors: Amounts falling due after more than one year

8

(1,452,462)

(1,316,978)

Provisions for liabilities

(1,025,961)

(771,138)

Net assets

 

2,163,288

1,227,854

Capital and reserves

 

Called up share capital

9

602

602

Revaluation reserve

2,137,095

1,225,230

Retained earnings

25,591

2,022

Shareholders' funds

 

2,163,288

1,227,854

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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.

 

Mousen Limited

(Registration number: 12650979)
Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 21 January 2025 and signed on its behalf by:
 

.........................................
Susan McDonald
Director

   
     
 

Mousen Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Office 64
Viewpoint
Derwentside Business Centre
Consett
County Durham
DH8 6BN

These financial statements were authorised for issue by the Board on 21 January 2025.

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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

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.

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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Mousen Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line basis

Motor vehicles

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Mousen Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

 

Mousen Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 6).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

146,564

109,846

 

Mousen Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

5

tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

1,740,000

-

101,299

1,911,875

3,753,174

Revaluations

865,802

-

-

-

865,802

Additions

75,163

36,993

11,206

168,832

292,194

At 30 April 2024

2,680,965

36,993

112,505

2,080,707

4,911,170

Depreciation

At 1 May 2023

-

-

12,199

180,278

192,477

Charge for the year

-

3,035

17,281

134,649

154,965

At 30 April 2024

-

3,035

29,480

314,927

347,442

Carrying amount

At 30 April 2024

2,680,965

33,958

83,025

1,765,780

4,563,728

At 30 April 2023

1,740,000

-

89,100

1,729,697

3,558,797

 

Mousen Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

6

Stocks

2024
£

2023
£

Other inventories

1,085

-

7

debtors

Current

2024
£

2023
£

Trade debtors

165,996

20,412

Prepayments

126,000

269,267

Other debtors

296,953

111,102

 

588,949

400,781

 

Mousen Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

516,098

614,962

Trade creditors

 

33,265

21,577

Taxation and social security

 

2,186

2,846

Accruals and deferred income

 

600

1,188

Other creditors

 

13,537

6,899

 

565,686

647,472

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

1,452,462

1,316,978

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary shares of £1 each

151

151

151

151

B Ordinary shares of £1 each

151

151

151

151

C Ordinary shares of £1 each

100

100

100

100

D Ordinary shares of £1 each

100

100

100

100

E Ordinary shares of £1 each

100

100

100

100

602

602

602

602

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

516,098

614,962

 

Mousen Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

11

Related party transactions

Summary of transactions with entities with joint control or significant interest

Loans to related parties

2024

Entities with joint control or significant influence
£

Total
£

At start of period

101,372

101,372

Advanced

56,991

56,991

At end of period

158,363

158,363