Registered number
04946839
Microbiological Validation Services Ltd
Filleted Accounts
31 October 2024
CLH Accounting
Masons Business Centre
159a Wellgate
Rotherham
S60 2NN
Microbiological Validation Services Ltd
Registered number: 04946839
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 35 372
Tangible assets 4 122,077 77,457
122,112 77,829
Current assets
Stocks 35,599 34,435
Debtors 5 211,159 313,814
Cash at bank and in hand 247,333 183,077
494,091 531,326
Creditors: amounts falling due within one year 6 (143,016) (147,787)
Net current assets 351,075 383,539
Total assets less current liabilities 473,187 461,368
Creditors: amounts falling due after more than one year 7 (12,500) (32,337)
Provisions for liabilities (15,671) (8,438)
Net assets 445,016 420,593
Capital and reserves
Called up share capital 125 125
Profit and loss account 444,891 420,468
Shareholders' funds 445,016 420,593
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Gidney
Director
Approved by the board on 11 April 2025
Microbiological Validation Services Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% straight line
Motor vehicle 25% reducing balance
Leasehold property improvements 15% straight line
Computer Equipment 33.3% straight line
Fixtures and furniture 20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 11
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2023 3,576
At 31 October 2024 3,576
Amortisation
At 1 November 2023 3,204
Provided during the year 337
At 31 October 2024 3,541
Net book value
At 31 October 2024 35
At 31 October 2023 372
Intangible fixed assets relate to personalised number plates that are used to promote the company.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 142,357 215,704 42,040 400,101
Additions - 70,263 45,499 115,762
Disposals - (5,000) (42,040) (47,040)
At 31 October 2024 142,357 280,967 45,499 468,823
Depreciation
At 1 November 2023 132,354 174,596 15,694 322,644
Charge for the year 2,687 30,729 11,375 44,791
On disposals - (4,995) (15,694) (20,689)
At 31 October 2024 135,041 200,330 11,375 346,746
Net book value
At 31 October 2024 7,316 80,637 34,124 122,077
At 31 October 2023 10,003 41,108 26,346 77,457
5 Debtors 2024 2023
£ £
Trade debtors 180,858 286,341
Other debtors 30,301 27,473
211,159 313,814
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts - 4,036
Trade creditors 25,484 24,188
Taxation and social security costs 96,152 70,042
Other creditors 11,380 39,521
143,016 147,787
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,500 22,500
Obligations under finance lease and hire purchase contracts - 9,837
12,500 32,337
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 13,873 13,873
Hire purchase contracts are secured on the assets that they relate to.
9 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 144,044 144,044
10 Controlling party
The company is wholly controlled by Mrs E E Crowther, Mr M J Crowther, Mrs E J Rodgers and Mr K Gidney who are the only shareholders.
11 Other information
Microbiological Validation Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Martin House
64 Cross Bedford Street
Sheffield
S6 3BQ
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