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REGISTERED NUMBER: 04479083 (England and Wales)

















M J Scott Limited

Financial Statements

for the Year Ended 31 August 2024






M J Scott Limited (Registered number: 04479083)

Contents of the Financial Statements
for the year ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


M J Scott Limited

Company Information
for the year ended 31 August 2024







DIRECTOR: M J Scott





SECRETARY: Mrs S L Scott





REGISTERED OFFICE: 24 Cornwall Road
Dorchester
Dorset
DT1 1RX





REGISTERED NUMBER: 04479083 (England and Wales)





ACCOUNTANTS: Read Woodruff
Chartered Accountants
24 Cornwall Road
Dorchester
Dorset
DT1 1RX

M J Scott Limited (Registered number: 04479083)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,287 5,695

CURRENT ASSETS
Debtors 5 3,693 5,950
Cash at bank 2,728 1,046
6,421 6,996
CREDITORS
Amounts falling due within one year 6 7,419 6,766
NET CURRENT (LIABILITIES)/ASSETS (998 ) 230
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,289

5,925

CREDITORS
Amounts falling due after more than one
year

7

(1,635

)

(4,599

)

PROVISIONS FOR LIABILITIES (807 ) (1,073 )
NET ASSETS 847 253

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 747 153
SHAREHOLDERS' FUNDS 847 253

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 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 May 2025 and were signed by:





M J Scott - Director


M J Scott Limited (Registered number: 04479083)

Notes to the Financial Statements
for the year ended 31 August 2024


1. STATUTORY INFORMATION

M J Scott 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 received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the invoice value of all work carried out during the accounting period. The company is not VAT registered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

M J Scott Limited (Registered number: 04479083)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


4. TANGIBLE FIXED ASSETS
Motor
Equipment vehicles Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 2,150 11,520 13,670
DEPRECIATION
At 1 September 2023 1,990 5,985 7,975
Charge for year 24 1,384 1,408
At 31 August 2024 2,014 7,369 9,383
NET BOOK VALUE
At 31 August 2024 136 4,151 4,287
At 31 August 2023 160 5,535 5,695

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023
and 31 August 2024 11,520
DEPRECIATION
At 1 September 2023 5,985
Charge for year 1,384
At 31 August 2024 7,369
NET BOOK VALUE
At 31 August 2024 4,151
At 31 August 2023 5,535

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 3,693 5,950

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,200 1,200
Hire purchase contracts 1,764 1,764
Trade creditors 570 624
Taxation and social security 2,985 2,278
Other creditors 900 900
7,419 6,766

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 900 2,100
Hire purchase contracts 735 2,499
1,635 4,599

M J Scott Limited (Registered number: 04479083)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 2,499 4,263

Hire purchase liabilities are secured on the assets concerned.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
M J Scott
Balance outstanding at start of year 4,614 4,792
Amounts advanced 3,305 4,614
Amounts repaid (4,614 ) (4,792 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,305 4,614