11
01/06/2023
31/05/2024
2024-05-31
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No description of principal activities is disclosed
2023-06-01
Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
05103831
2023-06-01
2024-05-31
05103831
2024-05-31
05103831
2023-05-31
05103831
2022-06-01
2023-05-31
05103831
2023-05-31
05103831
2022-05-31
05103831
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-06-01
2024-05-31
05103831
core:LandBuildings
core:LongLeaseholdAssets
2023-06-01
2024-05-31
05103831
core:PlantMachinery
2023-06-01
2024-05-31
05103831
core:FurnitureFittingsToolsEquipment
2023-06-01
2024-05-31
05103831
core:MotorVehicles
2023-06-01
2024-05-31
05103831
bus:Director1
2023-06-01
2024-05-31
05103831
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-05-31
05103831
core:LandBuildings
core:LongLeaseholdAssets
2023-05-31
05103831
core:PlantMachinery
2023-05-31
05103831
core:FurnitureFittingsToolsEquipment
2023-05-31
05103831
core:MotorVehicles
2023-05-31
05103831
core:LandBuildings
core:OwnedOrFreeholdAssets
2024-05-31
05103831
core:LandBuildings
core:LongLeaseholdAssets
2024-05-31
05103831
core:PlantMachinery
2024-05-31
05103831
core:FurnitureFittingsToolsEquipment
2024-05-31
05103831
core:MotorVehicles
2024-05-31
05103831
core:WithinOneYear
2024-05-31
05103831
core:WithinOneYear
2023-05-31
05103831
core:ShareCapital
2024-05-31
05103831
core:ShareCapital
2023-05-31
05103831
core:RevaluationReserve
2024-05-31
05103831
core:RevaluationReserve
2023-05-31
05103831
core:RetainedEarningsAccumulatedLosses
2024-05-31
05103831
core:RetainedEarningsAccumulatedLosses
2023-05-31
05103831
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-05-31
05103831
core:LandBuildings
core:LongLeaseholdAssets
2023-05-31
05103831
core:PlantMachinery
2023-05-31
05103831
core:FurnitureFittingsToolsEquipment
2023-05-31
05103831
core:MotorVehicles
2023-05-31
05103831
bus:SmallEntities
2023-06-01
2024-05-31
05103831
bus:AuditExemptWithAccountantsReport
2023-06-01
2024-05-31
05103831
bus:SmallCompaniesRegimeForAccounts
2023-06-01
2024-05-31
05103831
bus:PrivateLimitedCompanyLtd
2023-06-01
2024-05-31
05103831
bus:FullAccounts
2023-06-01
2024-05-31
Company registration number:
05103831
Moss Bay Metals Limited
Unaudited filleted financial accounts
For the year ended
31 May 2024
Moss Bay Metals Limited
Contents
Statement of financial position
Notes to the financial accounts
Moss Bay Metals Limited
Statement of financial position
31 May 2024
|
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2024 |
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2023 |
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Note |
£ |
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£ |
|
£ |
|
£ |
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|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
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|
Tangible assets |
|
3 |
1,166,580 |
|
|
|
1,224,711 |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
|
|
|
|
|
1,166,580 |
|
|
|
1,224,711 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
127,184 |
|
|
|
125,194 |
|
|
Debtors |
|
4 |
226,693 |
|
|
|
176,640 |
|
|
Investments |
|
5 |
4,000 |
|
|
|
4,000 |
|
|
Cash at bank and in hand |
|
|
182,283 |
|
|
|
163,104 |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
|
|
|
540,160 |
|
|
|
468,938 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
6 |
(
446,690) |
|
|
|
(
392,890) |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
Net current assets |
|
|
|
|
93,470 |
|
|
|
76,048 |
|
|
|
|
|
________ |
|
|
|
________ |
Total assets less current liabilities |
|
|
|
|
1,260,050 |
|
|
|
1,300,759 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
22,705) |
|
|
|
(
30,500) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
________ |
|
|
|
________ |
Net assets |
|
|
|
|
1,237,345 |
|
|
|
1,270,259 |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
|
|
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|
|
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Capital and reserves |
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|
|
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|
|
Called up share capital |
|
|
|
|
300 |
|
|
|
300 |
Fair value reserve |
|
|
|
|
38,796 |
|
|
|
38,796 |
Profit and loss account |
|
|
|
|
1,198,249 |
|
|
|
1,231,163 |
|
|
|
|
|
________ |
|
|
|
________ |
Shareholders funds |
|
|
|
|
1,237,345 |
|
|
|
1,270,259 |
|
|
|
|
|
________ |
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|
________ |
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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.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial accounts for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial accounts.
These financial accounts 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.
These financial accounts were approved by the
board of directors
and authorised for issue on
25 February 2025
, and are signed on behalf of the board by:
Mr D Roper
Director
Company registration number:
05103831
Moss Bay Metals Limited
Notes to the financial accounts
Year ended 31 May 2024
1.
Accounting policies
General information
The company is a private company limited by shares, registered in England and Wales, registration number
05103831
. The address of the registered office is Scrapyard House, Moss Bay Road, Workington, CA14 5AB.
Basis of preparation
These financial accounts have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied with the same financial statements.
The financial accounts 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 accounts are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. It includes the relevant proportion of contract values where work is partially performed in the period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and 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:
|
|
|
|
|
|
Land and buildings freehold |
- |
2 % |
straight line |
|
Leasehold properties |
- |
2 % |
straight line |
|
Plant and machinery |
- |
15 % |
straight line |
|
Fittings fixtures and equipment |
- |
25 % |
straight line |
|
Motor vehicles |
- |
25 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for fixed asset investments which are measured at fair value, with changes recognised in the fair value reserve.
Defined contribution plans
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in comprehensive income when due.
2.
Employee numbers
The average number of persons employed by the company during the year amounted to
11
(2023:
11
).
3.
Tangible assets
|
|
Freehold property |
Long leasehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
£ |
£ |
£ |
£ |
£ |
£ |
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 June 2023 |
844,578 |
291,458 |
1,300,908 |
23,140 |
263,044 |
2,723,128 |
|
|
Disposals |
- |
- |
- |
- |
(
68,815) |
(
68,815) |
|
|
|
________ |
________ |
________ |
________ |
________ |
________ |
|
|
At 31 May 2024 |
844,578 |
291,458 |
1,300,908 |
23,140 |
194,229 |
2,654,313 |
|
|
|
________ |
________ |
________ |
________ |
________ |
________ |
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 June 2023 |
19,157 |
13,900 |
1,233,053 |
23,013 |
209,294 |
1,498,417 |
|
|
Charge for the year |
1,760 |
961 |
30,117 |
43 |
25,250 |
58,131 |
|
|
Disposals |
- |
- |
- |
- |
(
68,815) |
(
68,815) |
|
|
|
________ |
________ |
________ |
________ |
________ |
________ |
|
|
At 31 May 2024 |
20,917 |
14,861 |
1,263,170 |
23,056 |
165,729 |
1,487,733 |
|
|
|
________ |
________ |
________ |
________ |
________ |
________ |
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 May 2024 |
823,661 |
276,597 |
37,738 |
84 |
28,500 |
1,166,580 |
|
|
|
________ |
________ |
________ |
________ |
________ |
________ |
|
|
At 31 May 2023 |
825,421 |
277,558 |
67,855 |
127 |
53,750 |
1,224,711 |
|
|
|
________ |
________ |
________ |
________ |
________ |
________ |
|
|
|
|
|
|
|
|
|
|
Land and buildings freehold includes investment property at a cost of £188,642 and valuations of £462,000. Long leasehold property includes investment property at a cost of £243,423. The directors believe that the cost price and valuations currently reflects the open market values of the investment properties.
4.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
110,022 |
73,200 |
|
Other debtors |
|
116,671 |
103,440 |
|
|
|
________ |
________ |
|
|
|
226,693 |
176,640 |
|
|
|
________ |
________ |
|
|
|
|
|
5.
Investments
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Financial Bond |
|
4,000 |
4,000 |
|
|
|
________ |
________ |
|
|
|
|
|
6.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade creditors |
|
142,117 |
144,502 |
|
Taxation and social security |
|
188,496 |
165,033 |
|
Directors loan account |
|
76,541 |
39,210 |
|
Other creditors |
|
39,536 |
44,145 |
|
|
|
________ |
________ |
|
|
|
446,690 |
392,890 |
|
|
|
________ |
________ |
|
|
|
|
|
7.
Pension commitments
The company operates a defined contribution pension scheme for the employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £115 (2023 - £130) were due to the fund. They are included in other creditors.
8.
Other financial commitments
At 31 May 2024, the company had rent commitments of £7,066 payable per annum which equates to £283,758 over the remaining life of the leases (2023 - £290,824).