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Registered Number: 04618667
England and Wales

 

 

 

MUSKRAT LIMITED



Filleted Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
Director David Bunker
Registered Number 04618667
Registered Office 14 Orchard Street
Bristol
BS1 5EH
Accountants Bond & Co Chartered Certified Accountants
Bristol North Baths
Gloucester Road
Bristol
BS7 8BN
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 December 2024.
Principal activities
Principal activity of the company during the financial year was that of property management.
Directors
The directors who served the company throughout the year were as follows:
David Bunker
Frances Shackell resigned on 18 October 2024
Statement of directors' responsibilities
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business

The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
David Bunker
Director

Date approved: 14 August 2025
2
Report to the directors on the preparation of the unaudited statutory accounts of Muskrat Limited for the year ended 31 December 2024. In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Muskrat Limited for the year ended 31 December 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/. This report is made solely to the Board of Directors of Muskrat Limited, as a body, in accordance with the terms of our engagement letter dated 09 April 2012. Our work has been undertaken solely to prepare for your approval the accounts of Muskrat Limited and state those matters that we have agreed to state to the Board of Directors of Muskrat Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Muskrat Limited and its Board of Directors as a body for our work or for this report. It is your duty to ensure that Muskrat Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Muskrat Limited. You consider that Muskrat Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of Muskrat Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts 31 December 2024.



Bond & Co Chartered Certified Accountants

Bristol North Baths
Gloucester Road
Bristol
BS7 8BN
14 August 2025
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,078,569    1,078,569 
1,078,569    1,078,569 
Current assets      
Debtors: amounts falling due within one year 4 38,365    38,365 
Debtors: amounts falling due after one year 5 106,609    145,649 
Cash at bank and in hand 198,918    853 
343,892    184,867 
Creditors: amount falling due within one year 6 (599)   (599)
Net current assets 343,293    184,268 
 
Total assets less current liabilities 1,421,862    1,262,837 
Creditors: amount falling due after more than one year 7 (706,038)   (548,178)
Provisions for liabilities 8 (131,922)   (131,922)
Net assets 583,902    582,737 
 

Capital and reserves
     
Called up share capital 20,000    20,000 
Reserves 9 562,406    562,406 
Profit and loss account 1,496    331 
Shareholders' funds 583,902    582,737 
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 14 August 2025 and were signed on its behalf by:


-------------------------------
David Bunker
Director
4
General Information
Muskrat Limited is a private company, limited by shares, registered in England and Wales, registration number 04618667, registration address 14 Orchard Street, Bristol, BS1 5EH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Investment properties
Investment properties are initially recognised at cost, which includes the purchase price and any directly attributable expenditure. Subsequently, they are measured at fair value at each reporting date, with changes in fair value recognised in profit or loss. The fair value is determined annually by the director, based on open market value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 01 January 2024 1,078,569    1,078,569 
Additions  
Disposals  
At 31 December 2024 1,078,569    1,078,569 
Depreciation
At 01 January 2024  
Charge for year  
On disposals  
At 31 December 2024  
Net book values
Closing balance as at 31 December 2024 1,078,569    1,078,569 
Opening balance as at 01 January 2024 1,078,569    1,078,569 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 33,239    38,332 
Corporation Tax 5,126    33 
38,365    38,365 

5.

Debtors: amounts falling due after one year

2024
£
  2023
£
Other Debtors 5,000    30,000 
Directors' Loan Accounts 101,609    115,649 
106,609    145,649 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 600    600 
Other Creditors (1)   (1)
599    599 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans (Secured) 706,038    548,178 
706,038    548,178 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 131,922    131,922 
131,922    131,922 

9.

Reserves

2024
£
  2023
£
Revaluation Reserve (non-distributable) 562,406    562,406 
562,406    562,406 

10.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2023
£
 2024
£
 2023
£
DMS Bristol Ltd5,000 30,000 

A company in which David Bunker is a director. The loan is given interest free.
11.

Advances and Credits



David Bunker
Loan to director - Commercial rate of interest is being charged on the loan amount

Current year (2024)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
David Bunker115,649 2,960 17,000 101,609 
115649029601700000101609
Previous year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
David Bunker117,281 3,368 5,000 115,649 
11728103368500000115649
5