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REGISTERED NUMBER: 07021776 (England and Wales)















MASTERWELD ENGINEERING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






MASTERWELD ENGINEERING LTD (REGISTERED NUMBER: 07021776)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MASTERWELD ENGINEERING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: M Howard
Mrs P J Howard
B Howard





REGISTERED OFFICE: 424 Margate Road
Ramsgate
Kent
CT12 6SR





REGISTERED NUMBER: 07021776 (England and Wales)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

MASTERWELD ENGINEERING LTD (REGISTERED NUMBER: 07021776)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 8,750 10,500
Tangible assets 5 8,921 6,660
17,671 17,160

CURRENT ASSETS
Stocks 6 - 602
Debtors 7 3,606 4,378
Cash at bank 9,361 13,340
12,967 18,320
CREDITORS
Amounts falling due within one year 8 (30,247 ) (21,525 )
NET CURRENT LIABILITIES (17,280 ) (3,205 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

391

13,955

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 291 13,855
SHAREHOLDERS' FUNDS 391 13,955

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MASTERWELD ENGINEERING LTD (REGISTERED NUMBER: 07021776)

BALANCE SHEET - continued
30 SEPTEMBER 2024


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 Board of Directors and authorised for issue on 7 February 2025 and were signed on its behalf by:




Mrs P J Howard - Director



M Howard - Director


MASTERWELD ENGINEERING LTD (REGISTERED NUMBER: 07021776)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Masterweld Engineering Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 33% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

MASTERWELD ENGINEERING LTD (REGISTERED NUMBER: 07021776)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

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 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 35,000
AMORTISATION
At 1 October 2023 24,500
Amortisation for year 1,750
At 30 September 2024 26,250
NET BOOK VALUE
At 30 September 2024 8,750
At 30 September 2023 10,500

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 October 2023 60,310 2,681 62,991
Additions 6,654 - 6,654
At 30 September 2024 66,964 2,681 69,645
DEPRECIATION
At 1 October 2023 54,256 2,075 56,331
Charge for year 4,193 200 4,393
At 30 September 2024 58,449 2,275 60,724
NET BOOK VALUE
At 30 September 2024 8,515 406 8,921
At 30 September 2023 6,054 606 6,660

MASTERWELD ENGINEERING LTD (REGISTERED NUMBER: 07021776)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. STOCKS
2024 2023
£    £   
Stocks - 602

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,366 3,888
Prepayments 240 490
3,606 4,378

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,529 3,083
Corporation Tax 156 271
VAT 6,592 5,909
Directors' current accounts 20,150 10,189
Accrued expenses 1,820 2,073
30,247 21,525