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Registered number: 8036769
Moisture and Carbon Solutions Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
JENNIFER M RICHARDSON LIMITED
32 Station Road
Rainham
Gillingham
Kent
ME8 7PH
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 8036769
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 155,833 63,332
155,833 63,332
CURRENT ASSETS
Debtors 4 110,099 53,723
Cash at bank and in hand 85,538 46,702
195,637 100,425
Creditors: Amounts Falling Due Within One Year 5 (107,433 ) (48,849 )
NET CURRENT ASSETS (LIABILITIES) 88,204 51,576
TOTAL ASSETS LESS CURRENT LIABILITIES 244,037 114,908
Creditors: Amounts Falling Due After More Than One Year 6 (51,266 ) -
NET ASSETS 192,771 114,908
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 192,770 114,907
SHAREHOLDERS' FUNDS 192,771 114,908
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr DANIEL HEARD
Director
13/06/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10 years straight line
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
2. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
Manufacturing 1 -
3 2
3. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 May 2023 - 114,777 - -
Additions 8,253 40,213 80,000 4,693
As at 30 April 2024 8,253 154,990 80,000 4,693
Depreciation
As at 1 May 2023 - 51,445 - -
Provided during the period 825 25,886 13,399 1,173
As at 30 April 2024 825 77,331 13,399 1,173
...CONTINUED
Page 3
Page 4
Net Book Value
As at 30 April 2024 7,428 77,659 66,601 3,520
As at 1 May 2023 - 63,332 - -
Computer Equipment Total
£ £
Cost
As at 1 May 2023 - 114,777
Additions 833 133,992
As at 30 April 2024 833 248,769
Depreciation
As at 1 May 2023 - 51,445
Provided during the period 208 41,491
As at 30 April 2024 208 92,936
Net Book Value
As at 30 April 2024 625 155,833
As at 1 May 2023 - 63,332
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 66,601 -
66,601 -
4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 107,264 50,529
Other debtors 2,835 3,194
110,099 53,723
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 19,550 -
Trade creditors 178 14,636
Corporation tax 34,928 23,284
Other taxes and social security 871 -
VAT 28,853 9,129
Other creditors 4,575 1,400
Directors' loan accounts 18,478 400
107,433 48,849
Page 4
Page 5
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 51,266 -
51,266 -
7. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 19,550 -
Later than one year and not later than five years 51,266 -
70,816 -
70,816 -
8. Deferred Taxation
The provision for deferred tax is made up as follows:
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 76,732 70,510
76,732 70,510
11. Reserves
Page 5