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Registered number: 00519674
Maurice Rodwell Limited
Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 00519674
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,621 3,827
1,621 3,827
CURRENT ASSETS
Stocks 5 7,599 13,595
Debtors 6 16,682 9,911
Cash at bank and in hand 2,995 14,128
27,276 37,634
Creditors: Amounts Falling Due Within One Year 7 (44,838 ) (48,001 )
NET CURRENT ASSETS (LIABILITIES) (17,562 ) (10,367 )
TOTAL ASSETS LESS CURRENT LIABILITIES (15,941 ) (6,540 )
NET LIABILITIES (15,941 ) (6,540 )
CAPITAL AND RESERVES
Called up share capital 8 852 852
Profit and Loss Account (16,793 ) (7,392 )
SHAREHOLDERS' FUNDS (15,941) (6,540)
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 S E Webb
Director
5 February 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Maurice Rodwell Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00519674 . The registered office is 7 & 8 Hartfield Road, Forest Row, East Sussex, RH18 5DN.
2. Accounting Policies
2.1. 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.
2.2. 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.
2.3. 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:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases are charged to profit or loss on a straight line basis over the lease term.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Cash and Cash Equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 853 21,197 4,455 2,342 28,847
Disposals - (12,477 ) - - (12,477 )
As at 31 May 2024 853 8,720 4,455 2,342 16,370
Depreciation
As at 1 June 2023 853 19,484 3,665 1,018 25,020
Provided during the period - 12 198 331 541
Disposals - (10,812 ) - - (10,812 )
As at 31 May 2024 853 8,684 3,863 1,349 14,749
Net Book Value
As at 31 May 2024 - 36 592 993 1,621
As at 1 June 2023 - 1,713 790 1,324 3,827
5. Stocks
2024 2023
£ £
Stock 4,242 8,908
Work in progress 3,357 4,687
7,599 13,595
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,573 8,146
Other debtors 11,109 1,765
16,682 9,911
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,282 4,095
Other creditors 41,833 40,938
Taxation and social security 723 2,968
44,838 48,001
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 852 852
9. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to profit or loss in respect of defined contribution schemes was £NIL (2023 - £145).
10. Directors Advances, Credits and Guarantees
Included in other creditors due within one year are loans from the director, Mr S Webb amounting to £39,735 (2023 - £38,840).
11. Controlling Parties
The Company was controlled throughout the current and previous period by its director, Mr S Webb, by virtue of the fact that he owns all of the Company’s ordinary issued share capital.
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