Registered number
00775739
Maysan Foods Limited
Filleted Accounts for the Year Ended
30 September 2024
Maysan Foods Limited
Registered number: 00775739
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 324,909 296,068
Investments 4 500,000 500,000
824,909 796,068
Current assets
Stocks 178,944 149,061
Debtors 5 134,067 161,686
Cash at bank and in hand 462,277 428,879
775,288 739,626
Creditors: amounts falling due within one year 6 (155,355) (183,604)
Net current assets 619,933 556,022
Total assets less current liabilities 1,444,842 1,352,090
Provisions for liabilities (125,399) (107,294)
Net assets 1,319,443 1,244,796
Capital and reserves
Called up share capital 18 18
Capital redemption reserve 7 17 17
Profit and loss account 1,319,408 1,244,761
Shareholders' funds 1,319,443 1,244,796
The director is 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 director acknowledges her 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.
Mrs D Harrison
Director
Approved by the board on 12 December 2024
Maysan Foods Limited
Notes to the Accounts
for the year ended 30 September 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 represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
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:
Land and buildings 2% straight line
Plant and machinery 20% straight line
Motor vehicles 20% straight line
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account. No depreciation is provided in respect of investment properties.
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.
Deferred taxation
Full provision is made for deferred tax assets and liablities arising from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes.
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 17 17
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 334,801 460,412 14,272 809,485
Additions - - 42,018 42,018
Disposals - - (14,272) (14,272)
At 30 September 2024 334,801 460,412 42,018 837,231
Depreciation
At 1 October 2023 181,564 317,581 14,272 513,417
Charge for the year 6,696 4,380 2,101 13,177
On disposals - - (14,272) (14,272)
At 30 September 2024 188,260 321,961 2,101 512,322
Net book value
At 30 September 2024 146,541 138,451 39,917 324,909
At 30 September 2023 153,237 142,831 - 296,068
4 Investments
Other
investments
£
Cost
At 1 October 2023 500,000
At 30 September 2024 500,000
Historical cost
At 1 October 2023 55,000
At 30 September 2024 55,000
The investment property, Abacus House, was built by the company in 1964. Originally used as a factory it became surplus to requirement and so was redeveloped into several rental spaces. The property was professionally revalued at 30th September 2024 at £450,000 by George F. White, Estate Agents.
5 Debtors 2024 2023
£ £
Trade debtors 117,296 141,876
Other debtors 16,771 19,810
134,067 161,686
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 64,288 89,391
Taxation and social security costs 45,517 54,383
Other creditors 45,550 39,830
155,355 183,604
7 Capital redemption reserve 2024 2023
£ £
At 1 October 2023 17 17
At 30 September 2024 17 17
8 Other information
Maysan Foods Limited is a private company limited by shares and incorporated in England. Its registered office is:
Meadowfield Estate
Ponteland
Northumberland
NE20 9SD
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