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REGISTERED NUMBER: 05899191 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 August 2024

for

Muddy Faces Ltd

Muddy Faces Ltd (Registered number: 05899191)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Muddy Faces Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTOR: Mrs E Edwards





REGISTERED OFFICE: 40 Olivet Road
Woodseats
Sheffield
South Yorkshire
S8 8QS





REGISTERED NUMBER: 05899191 (England and Wales)

Muddy Faces Ltd (Registered number: 05899191)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 31,733 -
Tangible assets 5 61,996 70,001
93,729 70,001

CURRENT ASSETS
Stocks 481,681 480,897
Debtors 6 248,763 195,405
Cash at bank 144,514 236,211
874,958 912,513
CREDITORS
Amounts falling due within one year 7 222,435 183,435
NET CURRENT ASSETS 652,523 729,078
TOTAL ASSETS LESS CURRENT
LIABILITIES

746,252

799,079

PROVISIONS FOR LIABILITIES 15,126 17,103
NET ASSETS 731,126 781,976

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 731,125 781,975
SHAREHOLDERS' FUNDS 731,126 781,976

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Muddy Faces Ltd (Registered number: 05899191)

Balance Sheet - continued
31 August 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 March 2025 and were signed by:





Mrs E Edwards - Director


Muddy Faces Ltd (Registered number: 05899191)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Muddy Faces Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Muddy Faces Ltd (Registered number: 05899191)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company makes contributions to employee personal pensions.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 32,000
At 31 August 2024 32,000
AMORTISATION
Charge for year 267
At 31 August 2024 267
NET BOOK VALUE
At 31 August 2024 31,733

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 236,008
Additions 18,016
At 31 August 2024 254,024
DEPRECIATION
At 1 September 2023 166,007
Charge for year 26,021
At 31 August 2024 192,028
NET BOOK VALUE
At 31 August 2024 61,996
At 31 August 2023 70,001

Muddy Faces Ltd (Registered number: 05899191)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 218,000 173,761
Other debtors 30,763 21,644
248,763 195,405

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 100,772 59,322
Taxation and social security 30,218 58,501
Other creditors 91,445 65,612
222,435 183,435

8. OTHER COMMITMENTS

At 31st August 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £140,500, (2023: £117,600).

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The company loaned monies from the Director (Mrs E Edwards) on an interest free basis.
The balance owed and included in other creditors at 31st August 2024: £59,195, (2023: £55,370).

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs E Edwards.