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COMPANY REGISTRATION NUMBER: 11812151
MWLW Services Limited
Filleted Unaudited Financial Statements
31 March 2024
MWLW Services Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
26,812
32,174
Tangible assets
6
31,041
37,689
--------
--------
57,853
69,863
Current assets
Stocks
500
650
Debtors
7
4,000
4,000
Cash at bank and in hand
65
65
-------
-------
4,565
4,715
Creditors: amounts falling due within one year
8
140,433
133,091
---------
---------
Net current liabilities
135,868
128,376
---------
---------
Total assets less current liabilities
( 78,015)
( 58,513)
Creditors: amounts falling due after more than one year
9
15,611
16,012
--------
--------
Net liabilities
( 93,626)
( 74,525)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 93,726)
( 74,625)
--------
--------
Shareholders deficit
( 93,626)
( 74,525)
--------
--------
These financial statements 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.
For the year ending 31 March 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 statements 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 statements .
MWLW Services Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 25 March 2025 , and are signed on behalf of the board by:
Mr M V Wagstaff
Director
Company registration number: 11812151
MWLW Services Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Mill, 9 Soar Lane, Leicester, LE3 5DE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements 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 statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The companys' balance sheet shows an insolvent position and the ability of the company to continue trading is dependent on the continued support from its' bank and directors. The directors are of the opinion that they will continue to support the company.
Revenue recognition
Turnover is measured at the fair value of services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:
Short leasehold property
-
10% straight line
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% straight line
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 stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 3 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
53,624
--------
Amortisation
At 1 April 2023
21,450
Charge for the year
5,362
--------
At 31 March 2024
26,812
--------
Carrying amount
At 31 March 2024
26,812
--------
At 31 March 2023
32,174
--------
6. Tangible assets
Short leasehold property
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
48,984
7,223
4,800
61,007
--------
-------
-------
--------
Depreciation
At 1 April 2023
14,696
5,022
3,600
23,318
Charge for the year
4,898
550
1,200
6,648
--------
-------
-------
--------
At 31 March 2024
19,594
5,572
4,800
29,966
--------
-------
-------
--------
Carrying amount
At 31 March 2024
29,390
1,651
31,041
--------
-------
-------
--------
At 31 March 2023
34,288
2,201
1,200
37,689
--------
-------
-------
--------
7. Debtors
2024
2023
£
£
Other debtors
4,000
4,000
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
8,987
11,099
Social security and other taxes
3,346
2,371
Other creditors
128,100
119,621
---------
---------
140,433
133,091
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
15,611
16,012
--------
--------
10. Related party transactions
The company has an interest free loan received from a related party . The amount outstanding at the year end is £78,326 (2023: £69,781).