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REGISTERED NUMBER: 10190012 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

Mustoes Specialist Vehicle Body Repairs
Limited

Mustoes Specialist Vehicle Body Repairs
Limited (Registered number: 10190012)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mustoes Specialist Vehicle Body Repairs
Limited

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: E A Mustoe
D Mustoe
A Mustoe





REGISTERED OFFICE: Unit 3
Castleway
Severn Bridge Industrial Estate
Caldicot
Monmouthshire
NP26 4TH





REGISTERED NUMBER: 10190012 (England and Wales)





ACCOUNTANTS: Knights
2A Lighthouse Trade Park
Lydney
21 Highnam Business Centre
Highnam
Gloucestershire
GL2 8DN

Mustoes Specialist Vehicle Body Repairs
Limited (Registered number: 10190012)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 295,583 277,822
295,583 277,822

CURRENT ASSETS
Stocks 30,000 33,000
Debtors 6 450,748 858,629
Cash at bank 576,003 150,430
1,056,751 1,042,059
CREDITORS
Amounts falling due within one year 7 295,940 404,015
NET CURRENT ASSETS 760,811 638,044
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,056,394

915,866

CREDITORS
Amounts falling due after more than one
year

8

(25,000

)

(35,000

)

PROVISIONS FOR LIABILITIES 9 (50,013 ) (41,883 )
NET ASSETS 981,381 838,983

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 981,380 838,982
SHAREHOLDERS' FUNDS 981,381 838,983

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Mustoes Specialist Vehicle Body Repairs
Limited (Registered number: 10190012)

BALANCE SHEET - continued
30 APRIL 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2024 and were signed on its behalf by:




E A Mustoe - Director D Mustoe - Director




A Mustoe - Director


Mustoes Specialist Vehicle Body Repairs
Limited (Registered number: 10190012)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Mustoes Specialist Vehicle Body Repairs Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of two years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Mustoes Specialist Vehicle Body Repairs
Limited (Registered number: 10190012)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 100,000
AMORTISATION
At 1 May 2023
and 30 April 2024 100,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 163,772 290,793 198,629 15,233 668,427
Additions 713 - 101,550 - 102,263
Disposals - - (79,014 ) - (79,014 )
At 30 April 2024 164,485 290,793 221,165 15,233 691,676
DEPRECIATION
At 1 May 2023 79,286 157,293 144,129 9,897 390,605
Charge for year 12,779 20,025 23,382 800 56,986
Eliminated on disposal - - (51,498 ) - (51,498 )
At 30 April 2024 92,065 177,318 116,013 10,697 396,093
NET BOOK VALUE
At 30 April 2024 72,420 113,475 105,152 4,536 295,583
At 30 April 2023 84,486 133,500 54,500 5,336 277,822

Mustoes Specialist Vehicle Body Repairs
Limited (Registered number: 10190012)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 233,677 485,337
Other debtors 217,071 373,292
450,748 858,629

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 15,932
Hire purchase contracts 7,061 4,190
Trade creditors 88,394 161,864
Taxation and social security 148,214 188,774
Other creditors 52,271 33,255
295,940 404,015

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 25,000 35,000

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 50,013 41,883

Deferred
tax
£   
Balance at 1 May 2023 41,883
Accelerated Capital Allowances 8,130
Balance at 30 April 2024 50,013