Registered number
09854577
Mansfield Gas Safety Ltd
Unaudited Filleted Accounts
30 November 2024
Mansfield Gas Safety Ltd
Registered number: 09854577
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 45,153 32,847
Current assets
Debtors 5 160,232 129,395
Cash at bank and in hand 25,255 31,092
185,487 160,487
Creditors: amounts falling due within one year 6 (38,262) (41,001)
Net current assets 147,225 119,486
Total assets less current liabilities 192,378 152,333
Provisions for liabilities (8,579) (6,241)
Net assets 183,799 146,092
Capital and reserves
Called up share capital 20 20
Profit and loss account 183,779 146,072
Shareholder's funds 183,799 146,092
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Matthew Pritchard
Director
Approved by the board on 12 August 2025
Mansfield Gas Safety Ltd
Notes to the Accounts
for the year ended 30 November 2024
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:
Plant and machinery 25% reducing balance
Tools and equipment Over 4 years
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 2024 2023
Number Number
Average number of persons employed by the company 3 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2023 11,276
At 30 November 2024 11,276
Amortisation
At 1 December 2023 11,276
At 30 November 2024 11,276
Net book value
At 30 November 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2023 22,826 38,743 61,569
Additions - 27,500 27,500
At 30 November 2024 22,826 66,243 89,069
Depreciation
At 1 December 2023 18,295 10,427 28,722
Charge for the year 1,240 13,954 15,194
At 30 November 2024 19,535 24,381 43,916
Net book value
At 30 November 2024 3,291 41,862 45,153
At 30 November 2023 4,531 28,316 32,847
5 Debtors 2024 2023
£ £
Trade debtors 36,227 24,572
Other debtors 124,005 104,823
160,232 129,395
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 11,564 11,564
Taxation and social security costs 10,513 6,655
Other creditors 16,185 22,782
38,262 41,001
7 Related party transactions
Included within other debtors is an amount of £125,630 (2024 – £106,100)
due from Matthew Pritchard Property Services Ltd,
a company under the same ownership.
The balance is unsecured, interest free and repayable on demand.
8 Other information
Mansfield Gas Safety Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Sonata, New Mill Lane
Forest Town
Mansfield
Notts
NG19 0HH
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