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Company registration number: 05225492
Mark Sumpter Glazing (MSG) Limited
Unaudited filleted financial statements
31 October 2024
Mark Sumpter Glazing (MSG) Limited
Contents
Accountants report
Statement of financial position
Notes to the financial statements
Mark Sumpter Glazing (MSG) Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Mark Sumpter Glazing (MSG) Limited
Year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mark Sumpter Glazing (MSG) Limited for the year ended 31 October 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Mark Sumpter Glazing (MSG) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Mark Sumpter Glazing (MSG) Limited and state those matters that we have agreed to state to the board of directors of Mark Sumpter Glazing (MSG) Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mark Sumpter Glazing (MSG) Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Mark Sumpter Glazing (MSG) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mark Sumpter Glazing (MSG) Limited. You consider that Mark Sumpter Glazing (MSG) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Mark Sumpter Glazing (MSG) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Curnow & Co Limited
Chartered Certified Accountants
Brackenhurst
Lee
Ilfracombe
EX34 8LW
27 March 2025
Mark Sumpter Glazing (MSG) Limited
Statement of financial position
31 October 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 540,985 598,905
_______ _______
540,985 598,905
Current assets
Stocks 3,500 3,500
Debtors 211,023 232,835
Cash at bank and in hand 92,999 94,004
_______ _______
307,522 330,339
Creditors: amounts falling due
within one year ( 328,513) ( 395,528)
_______ _______
Net current liabilities ( 20,991) ( 65,189)
_______ _______
Total assets less current liabilities 519,994 533,716
Creditors: amounts falling due
after more than one year ( 167,684) ( 212,640)
_______ _______
Net assets 352,310 321,076
_______ _______
Capital and reserves
Called up share capital 102 102
Profit and loss account 352,208 320,974
_______ _______
Shareholders funds 352,310 321,076
_______ _______
For the year ending 31 October 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.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 March 2025 , and are signed on behalf of the board by:
M. J. Sumpter
Director
Company registration number: 05225492
Mark Sumpter Glazing (MSG) Limited
Notes to the financial statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Unit 17 Glenmore Business Park, Ely Road, Waterbeach, Cambridge, CB25 9FX.
2. Statement of compliance
These financial statements 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'.
3. Accounting policies
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:
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.
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:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2023: 16 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 November 2023 and 31 October 2024 50,000 50,000
_______ _______
Amortisation
At 1 November 2023 and 31 October 2024 50,000 50,000
_______ _______
Carrying amount
At 31 October 2024 - -
_______ _______
At 31 October 2023 - -
_______ _______
6. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 November 2023 364,925 1,951 17,370 431,871 816,117
Additions - - - 64,958 64,958
Disposals - - - ( 75,461) ( 75,461)
_______ _______ _______ _______ _______
At 31 October 2024 364,925 1,951 17,370 421,368 805,614
_______ _______ _______ _______ _______
Depreciation
At 1 November 2023 14,597 1,951 11,460 189,204 217,212
Charge for the year 14,957 - 887 69,532 85,376
Disposals - - - ( 37,959) ( 37,959)
_______ _______ _______ _______ _______
At 31 October 2024 29,554 1,951 12,347 220,777 264,629
_______ _______ _______ _______ _______
Carrying amount
At 31 October 2024 335,371 - 5,023 200,591 540,985
_______ _______ _______ _______ _______
At 31 October 2023 350,328 - 5,910 242,667 598,905
_______ _______ _______ _______ _______