MIST-AIR DUST SUPPRESSION LIMITED
Company registration number 01228824 (England and Wales)
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
MIST-AIR DUST SUPPRESSION LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
MIST-AIR DUST SUPPRESSION LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
31 December 2024
30 September 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
476,963
527,779
Investment property
5
881,998
650,280
1,358,961
1,178,059
Current assets
Stocks
195,220
189,470
Debtors
6
155,889
299,935
Cash at bank and in hand
187,698
288,045
538,807
777,450
Creditors: amounts falling due within one year
7
(526,914)
(536,063)
Net current assets
11,893
241,387
Total assets less current liabilities
1,370,854
1,419,446
Creditors: amounts falling due after more than one year
8
(36,844)
(49,612)
Provisions for liabilities
(16,567)
Net assets
1,334,010
1,353,267
Capital and reserves
Called up share capital
9
102
102
Profit and loss reserves
1,333,908
1,353,165
Total equity
1,334,010
1,353,267
MIST-AIR DUST SUPPRESSION LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
For the financial period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 11 July 2025 and are signed on its behalf by:
Mr M C Carter
Director
Company registration number 01228824 (England and Wales)
MIST-AIR DUST SUPPRESSION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Mist-Air Dust Suppression Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hillcrest, Pen-y-Bont, Oswestry, Shropshire, SY10 9JF.
1.1
Reporting period
The company's Accounting reference date has been changed to the 31st December to give the Directors greater opportunities for strategic planning. The reporting period runs from 1st October 2023 to 31st December 2024. The prior year, is a reporting period of 12 months and as a result the comparative amounts presented in the financial statements including the related notes are not entirely comparable.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Website
Fully amortised
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
MIST-AIR DUST SUPPRESSION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
5% straight line
Plant and machinery
20% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.7
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.8
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.9
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.10
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
MIST-AIR DUST SUPPRESSION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.11
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.12
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.13
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
1.14
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.15
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
1.16
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
MIST-AIR DUST SUPPRESSION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2023
Number
Number
Total
18
21
3
Intangible fixed assets
Other
£
Cost
At 1 October 2023
5,046
Disposals
(5,046)
At 31 December 2024
Amortisation and impairment
At 1 October 2023
5,046
Disposals
(5,046)
At 31 December 2024
Carrying amount
At 31 December 2024
At 30 September 2023
MIST-AIR DUST SUPPRESSION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 7 -
4
Tangible fixed assets
Freehold land and buildings
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 October 2023
81,008
497,754
167,390
431,564
1,177,716
Additions
3,375
5,045
7,211
95,168
110,799
Disposals
(92,684)
(92,684)
At 31 December 2024
84,383
502,799
174,601
434,048
1,195,831
Depreciation and impairment
At 1 October 2023
7,019
304,900
144,310
193,708
649,937
Depreciation charged in the period
5,260
39,625
9,114
83,547
137,546
Eliminated in respect of disposals
(68,615)
(68,615)
At 31 December 2024
12,279
344,525
153,424
208,640
718,868
Carrying amount
At 31 December 2024
72,104
158,274
21,177
225,408
476,963
At 30 September 2023
73,989
192,854
23,080
237,856
527,779
5
Investment property
2024
£
Fair value
At 1 October 2023
650,280
Additions
231,718
At 31 December 2024
881,998
Investment property comprises of two house's that are let. The first property was purchased 7 July 2022 at open market value and there was no change in this value prior to the year end. The 2nd property was purchased 24 January 2024 at open market value and there was no change in this value prior to the period end.
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
139,779
272,308
Other debtors
16,110
27,627
155,889
299,935
MIST-AIR DUST SUPPRESSION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 8 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
25,631
82,917
Trade creditors
164,605
253,656
Taxation and social security
98,597
64,003
Other creditors
238,081
135,487
526,914
536,063
Included in creditors is a bank loan of £nil (2023: £10,000) which is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The BBLS guarantee is provided to the lender.
The balances on hire purchase contracts are secured over the related assets. The bank loan is secured.
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
18,333
Other creditors
36,844
31,279
36,844
49,612
Included in creditors is a bank loan of £nil (2023: £18,333) which is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The BBLS guarantee is provided to the lender.
The balances on hire purchase contracts are secured over the related assets. The bank loan is secured.
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of £1 each
40
40
40
40
Ordinary B Shares of £1 each
2
2
2
2
Ordinary C Shares of £1 each
40
40
40
40
Ordinary D Shares of £1 each
20
20
20
20
102
102
102
102
MIST-AIR DUST SUPPRESSION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
9
Called up share capital
(Continued)
- 9 -
Voting rights
All shares are ranked equally for voting purposes.
Dividend rights
Dividends may be paid to the holders of one or more classes of shares to the exclusion of the others or to all classes of shares, in each case at the same or differing rates, as determined by ordinary resolution or resolution of the directors.
Rights to capital
Each share ranks equally for any distribution made on winding up.
Rights of redemption
No shares are redeemable.
10
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
50,977