Registered number
04603321
MT Cashell & Sons Ltd
Unaudited Filleted Accounts
31 January 2025
MT Cashell & Sons Ltd
Registered number: 04603321
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 4 26,475 35,402
Investments 5 2,000 2,000
28,475 37,402
Current assets
Stocks 43,427 38,350
Debtors 6 19,773 27,341
Cash at bank and in hand 145,937 154,142
209,137 219,833
Creditors: amounts falling due within one year 7 (97,548) (66,483)
Net current assets 111,589 153,350
Total assets less current liabilities 140,064 190,752
Creditors: amounts falling due after more than one year 8 (24,537) (30,093)
Provisions for liabilities (5,029) (6,726)
Net assets 110,498 153,933
Capital and reserves
Called up share capital 100 100
Profit and loss account 110,398 153,833
Shareholders' funds 110,498 153,933
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.
D M Cashell
Director
Approved by the board on 21 May 2025
MT Cashell & Sons Ltd
Notes to the Accounts
for the year ended 31 January 2025
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.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 10 11
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2024 96,202
At 31 January 2025 96,202
Amortisation
At 1 February 2024 96,202
At 31 January 2025 96,202
Net book value
At 31 January 2025 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2024 12,247 150,440 40,846 203,533
Additions 2,130 3,608 - 5,738
At 31 January 2025 14,377 154,048 40,846 209,271
Depreciation
At 1 February 2024 11,574 130,446 26,111 168,131
Charge for the year 855 10,127 3,683 14,665
At 31 January 2025 12,429 140,573 29,794 182,796
Net book value
At 31 January 2025 1,948 13,475 11,052 26,475
At 31 January 2024 673 19,994 14,735 35,402
5 Investments
Other
investments
£
Cost
At 1 February 2024 2,000
At 31 January 2025 2,000
6 Debtors 2025 2024
£ £
Trade debtors 8,766 16,272
Other debtors 11,007 11,069
19,773 27,341
7 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 7,137 8,062
Trade creditors 58,525 38,428
Taxation and social security costs 5,570 18,367
Other creditors 26,316 1,626
97,548 66,483
8 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 24,537 30,093
9 Loans 2025 2024
£ £
Creditors include:
Instalments falling due for payment after more than five years 2,315 7,871
10 Related party transactions
Mr DM Cashell
Director
The company pays rent for the premises to Mr DM Cashell
Rent payable is £395.83 per month 4,750 4,750
Mr AJ Cashell
Director
The company pays rent for the premises to Mr AJ Cashell
Rent payable is £395.83 per month 4,750 4,750
11 Transactions with Directors
During the year Mr D M Cashell & Mr A J Cashell, both directors and shareholders, used a current account with the company to record amounts due to them and amounts drawn by them. The account shows a balance owed back to Mr D M Cashell, as at 31 January 2025 of £12,204.09 (2024: £252.27). The amount owed back to Mr A J Cashell, as at 31 January 2025 was £12,204.09 (2024: £252.27). The amount is repayable on demand and does not carry interest.
12 Controlling party
Mr DM Cashell owns 50% of the share capital of the company and Mr AJ Cashell owns 50% of the share capital of the company. Therefore they are jointly the company's ultimate controlling party.
13 Other information
MT Cashell & Sons Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Old Bank
Beaufort
Crickhowell
Powys
NP8 1AD
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