Registered number
06405735
Unit 22 Modelmakers Limited
Unaudited Filleted Accounts
31 October 2024
Unit 22 Modelmakers Limited
Registered number: 06405735
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 8,414 -
Tangible assets 4 19,171 33,106
27,585 33,106
Current assets
Stocks 17,500 17,000
Debtors 5 402,404 458,785
Cash at bank and in hand 57,485 135,347
477,389 611,132
Creditors: amounts falling due within one year 6 (145,616) (264,853)
Net current assets 331,773 346,279
Total assets less current liabilities 359,358 379,385
Creditors: amounts falling due after more than one year 7 (6,197) (16,657)
Provisions for liabilities (4,358) (7,135)
Net assets 348,803 355,593
Capital and reserves
Called up share capital 50 50
Capital redemption reserve 8 51 51
Profit and loss account 348,702 355,492
Shareholder's funds 348,803 355,593
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 member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
A Burdett
Director
Approved by the board on 7 May 2025
Unit 22 Modelmakers Limited
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). The accounts are presented in sterling.
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.
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:
Leasehold improvements over 10 years
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
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 8 7
3 Intangible fixed assets £
Cost
At 1 November 2023 30,200
Additions 8,965
Disposals (30,200)
At 31 October 2024 8,965
Amortisation
At 1 November 2023 30,200
Provided during the year 551
On disposals (30,200)
At 31 October 2024 551
Net book value
At 31 October 2024 8,414
4 Tangible fixed assets
Leasehold Improvements Plant and machinery etc Total
£ £ £
Cost
At 1 November 2023 60,125 138,418 198,543
Additions - 1,241 1,241
At 31 October 2024 60,125 139,659 199,784
Depreciation
At 1 November 2023 39,787 125,650 165,437
Charge for the year 10,521 4,655 15,176
At 31 October 2024 50,308 130,305 180,613
Net book value
At 31 October 2024 9,817 9,354 19,171
At 31 October 2023 20,338 12,768 33,106
5 Debtors 2024 2023
£ £
Trade debtors 131,508 194,695
Other debtors 270,896 264,090
402,404 458,785
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,538 10,309
Trade creditors 22,920 44,565
Taxation and social security costs 81,521 186,101
Other creditors 30,637 23,878
145,616 264,853
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,197 16,657
8 Capital redemption reserve 2024 2023
£ £
At 1 November 2023 51 51
At 31 October 2024 51 51
9 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 45,632 104,857
10 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
A Burdett
Interest-free unsecured loans, repayable on demand. The maximum outstanding during the year was £185,060 (2023 - £175,000). 175,000 25,081 (25,171) 174,910
175,000 25,081 (25,171) 174,910
11 Other information
Unit 22 Modelmakers Limited is a private company limited by shares and incorporated in England. Its registered office is:
50 Druid Street
London
SE1 2EZ
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