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REGISTERED NUMBER: 08400964 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

MS & TA Worth Ltd

MS & TA Worth Ltd (Registered number: 08400964)






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


MS & TA Worth Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: M S Worth
Mrs T A Worth





SECRETARY: Mrs T A Worth





REGISTERED OFFICE: 128 High Street
Crediton
Devon
EX17 3LQ





REGISTERED NUMBER: 08400964 (England and Wales)





ACCOUNTANTS: Bedford & Co Ltd
128 High Street
Crediton
Devon
EX17 3LQ

MS & TA Worth Ltd (Registered number: 08400964)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 803,548 517,975
803,548 517,975

CURRENT ASSETS
Stocks 1,265,750 899,149
Debtors 6 255,469 310,115
Cash at bank 202,290 -
1,723,509 1,209,264
CREDITORS
Amounts falling due within one year 7 1,232,517 845,187
NET CURRENT ASSETS 490,992 364,077
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,294,540

882,052

CREDITORS
Amounts falling due after more than one
year

8

(804,349

)

(477,868

)

PROVISIONS FOR LIABILITIES (123,345 ) (99,367 )
NET ASSETS 366,846 304,817

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 316,846 254,817
SHAREHOLDERS' FUNDS 366,846 304,817

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.

MS & TA Worth Ltd (Registered number: 08400964)

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 23 June 2025 and were signed on its behalf by:





Mrs T A Worth - Director


MS & TA Worth Ltd (Registered number: 08400964)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

MS & TA Worth 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.

The company's place of business is Astra Benz, New Inn Cross, Shebbear, Beaworthy, Devon, EX21 5SN.

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
This is measured at the fair value of the consideration received or receivable from the sale of goods, excluding discounts, rebates, value added tax and other sales taxes.
Revenue is recognised when goods are delivered to customers such that risks and rewards of ownership have been transferred to them and that there is sufficient reliable evidence that delivery of goods has occurred.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten 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 etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Cost is calculated on a first in first out basis.

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.

MS & TA Worth Ltd (Registered number: 08400964)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Tangible fixed assets acquired under hire purchase contracts or finance leases are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors.
Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the term of the lease.

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 10 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 20,000
AMORTISATION
At 1 October 2023
and 30 September 2024 20,000
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 24,616 746,111 770,727
Additions 87,695 364,040 451,735
Disposals - (101,072 ) (101,072 )
At 30 September 2024 112,311 1,009,079 1,121,390
DEPRECIATION
At 1 October 2023 - 252,752 252,752
Charge for year - 101,327 101,327
Eliminated on disposal - (36,237 ) (36,237 )
At 30 September 2024 - 317,842 317,842
NET BOOK VALUE
At 30 September 2024 112,311 691,237 803,548
At 30 September 2023 24,616 493,359 517,975

MS & TA Worth Ltd (Registered number: 08400964)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS - continued

Included in the above figures are assets under hire purchase and finance lease agreements with a net book value of £176,714 (2023 - £107,464). The depreciation charged on these assets during the year was £13,118 (2023 - £19,254).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 233,178 221,267
Other debtors 22,291 88,848
255,469 310,115

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 4,130 45,272
Hire purchase contracts 34,394 38,593
Trade creditors 857,590 68,203
Taxation and social security 18,359 19,860
Other creditors 318,044 673,259
1,232,517 845,187

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 127,799 21,916
Hire purchase contracts 117,563 14,524
Other creditors 558,987 441,428
804,349 477,868

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase 38,083 -

MS & TA Worth Ltd (Registered number: 08400964)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank overdraft - 35,102
Bank loans 131,929 32,086
Other loans 382,742 606,105
Hire purchase contracts 151,957 53,117
666,628 726,410

The bank loan and overdraft are secured by a fixed and floating charge over the company's assets.

The other loans are secured by charges over specific assets.