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COMPANY REGISTRATION NUMBER: 11713290
MW Services (Leicester) Limited
Filleted Unaudited Financial Statements
31 March 2024
MW Services (Leicester) Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
16,806
19,887
Current assets
Debtors
6
119,603
111,113
Cash at bank and in hand
342
70
---------
---------
119,945
111,183
Creditors: amounts falling due within one year
7
107,125
87,652
---------
---------
Net current assets
12,820
23,531
--------
--------
Total assets less current liabilities
29,626
43,418
Creditors: amounts falling due after more than one year
8
3,733
7,929
--------
--------
Net assets
25,893
35,489
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
25,891
35,487
--------
--------
Shareholders funds
25,893
35,489
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MW Services (Leicester) Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 27 January 2025 , and are signed on behalf of the board by:
Mr M V Wagstaff
Director
Company registration number: 11713290
MW Services (Leicester) Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Mill, 9 Soar Lane, Leicester, LE3 5DE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
10% straight line
Computer equipment
-
33% reducing balance
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Plant and machinery
Computer equipment
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
26,571
2,864
29,435
--------
-------
--------
Depreciation
At 1 April 2023
7,971
1,577
9,548
Charge for the year
2,657
424
3,081
--------
-------
--------
At 31 March 2024
10,628
2,001
12,629
--------
-------
--------
Carrying amount
At 31 March 2024
15,943
863
16,806
--------
-------
--------
At 31 March 2023
18,600
1,287
19,887
--------
-------
--------
6. Debtors
2024
2023
£
£
Other debtors
119,603
111,113
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
3,200
2,800
Trade creditors
375
Corporation tax
2,500
2,764
Other creditors
101,050
82,088
---------
--------
107,125
87,652
---------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
3,733
7,929
-------
-------
9. Related party transactions
The company provided a related party with an interest free loan during the year. The amount outstanding at 31 March 2024 was £78,326 (2023: £69,836).