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Registration number: 12171748

Mustud Limited

Cessation Filleted Annual Report and Unaudited Abridged Financial Statements

for the Period from 1 September 2024 to 31 January 2025

 

Mustud Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Mustud Limited

Company Information

Directors

Mr H Studley

Mr R Munkley

Mr P Dunning

Registered office

Unit 6A
Viaduct Road
Gwaelod Y Garth
Cardiff
Wales
CF15 9JN

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Mustud Limited

(Registration number: 12171748)
Abridged Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

-

1,152

Current assets

 

Cash at bank and in hand

 

-

77,495

Prepayments and accrued income

 

-

252

Creditors: Amounts falling due within one year

(20,770)

(97,951)

Net current liabilities

 

(20,770)

(20,204)

Total assets less current liabilities

 

(20,770)

(19,052)

Accruals and deferred income

 

(550)

(550)

Net liabilities

 

(21,320)

(19,602)

Capital and reserves

 

Called up share capital

6

120

120

Retained earnings

(21,440)

(19,722)

Shareholders' deficit

 

(21,320)

(19,602)

 

Mustud Limited

(Registration number: 12171748)
Abridged Balance Sheet as at 31 January 2025

For the financial period ending 31 January 2025 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 March 2025 and signed on its behalf by:
 

.........................................

Mr H Studley
Director

 

Mustud Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 September 2024 to 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 6A
Viaduct Road
Gwaelod Y Garth
Cardiff
Wales
CF15 9JN

These financial statements were authorised for issue by the Board on 21 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company ceased to trade on 31 January 2025, as such the financial statements have not been prepared on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Mustud Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 September 2024 to 31 January 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3 (2024 - 3).

4

Loss before tax

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

1,152

6,040

 

Mustud Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 September 2024 to 31 January 2025

5

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 September 2024

30,200

30,200

At 31 January 2025

30,200

30,200

Depreciation

At 1 September 2024

29,048

29,048

Charge for the period

1,152

1,152

At 31 January 2025

30,200

30,200

Carrying amount

At 31 January 2025

-

-

At 31 August 2024

1,152

1,152

6

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

120

120

120

120

       
 

Mustud Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 September 2024 to 31 January 2025

7

Related party transactions

Summary of transactions with other related parties

During the period the company received unsecured, interest free, repayable on demand loans from a related party. At the balance sheet date the amount due to the related party was £20,866 (2024 - £97,412).