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REGISTERED NUMBER: 06396262 (England and Wales)















M W Servicing and Repairs Limited

Unaudited Financial Statements for the Year Ended 31 October 2024






M W Servicing and Repairs Limited (Registered number: 06396262)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


M W Servicing and Repairs Limited

Company Information
for the Year Ended 31 October 2024







Director: Michael Ralph Wilkinson





Secretary: Louise Jane Murray





Registered office: 101B Chorley New Road
Horwich
Bolton
Greater Manchester
BL6 5QQ





Registered number: 06396262 (England and Wales)





Accountants: Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
Greater Manchester
BL6 7BY

M W Servicing and Repairs Limited (Registered number: 06396262)

Statement of Financial Position
31 October 2024

2024 2023
Notes £    £    £   
Fixed assets
Intangible assets 4 35,000 35,000
Tangible assets 5 48,118 13,403
83,118 48,403

Current assets
Stocks 495 485
Debtors 6 1,216 2,264
Cash at bank and in hand 400,872 394,079
402,583 396,828
Creditors
Amounts falling due within one year 7 50,135 68,019
Net current assets 352,448 328,809
Total assets less current liabilities 435,566 377,212

Creditors
Amounts falling due after more than
one year

8

(5,000

)

-

Provisions for liabilities 9 (12,752 ) (3,552 )
Net assets 417,814 373,660

M W Servicing and Repairs Limited (Registered number: 06396262)

Statement of Financial Position - continued
31 October 2024

2024 2023
Notes £    £    £   
Capital and reserves
Called up share capital 10 100 100
Retained earnings 417,714 373,560
Shareholders' funds 417,814 373,660

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

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

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 May 2025 and were signed by:





Michael Ralph Wilkinson - Director


M W Servicing and Repairs Limited (Registered number: 06396262)

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

1. Statutory information

M W Servicing and Repairs Limited 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 receivable for motor servicing and MOT's and repair services rendered, net of Value Added Tax.

Goodwill
Amortisation of goodwill has not been provided for by the company as in the opinion of the directors it has an indefinite useful economic life. This accounting policy departs from the requirements of FRS 102 to amortise goodwill over a finite period. The effect of the departure is that amortisation as required by the requirements of FRS 102 has not been accounted for. If amortisation had been accounted for the charge for the year would have amounted to £3,500 and the profit for the year reduced accordingly.

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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks
Stocks are measured at estimated cost.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.


M W Servicing and Repairs Limited (Registered number: 06396262)

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

2. Accounting policies - continued
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 3 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 November 2023
and 31 October 2024 35,000
Net book value
At 31 October 2024 35,000
At 31 October 2023 35,000

M W Servicing and Repairs Limited (Registered number: 06396262)

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

5. Tangible fixed assets
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 1 November 2023 39,708 20,155 59,863
Additions 500 42,995 43,495
Disposals - (19,822 ) (19,822 )
At 31 October 2024 40,208 43,328 83,536
Depreciation
At 1 November 2023 33,933 12,527 46,460
Charge for year 1,255 34 1,289
Eliminated on disposal - (12,331 ) (12,331 )
At 31 October 2024 35,188 230 35,418
Net book value
At 31 October 2024 5,020 43,098 48,118
At 31 October 2023 5,775 7,628 13,403

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 1,216 2,264

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Hire purchase contracts 5,000 -
Trade creditors 12,877 11,697
Taxation and social security 15,062 28,670
Other creditors 17,196 27,652
50,135 68,019

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Hire purchase contracts 5,000 -

M W Servicing and Repairs Limited (Registered number: 06396262)

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

9. Provisions for liabilities
2024 2023
£    £   
Deferred tax 12,752 3,552

Deferred
tax
£   
Balance at 1 November 2023 3,552
Charge to Statement of Income and Retained Earnings during year 9,200
Balance at 31 October 2024 12,752

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100