Company Registration No. 01099352 (England and Wales)
MASSGROVE LIMITED
Unaudited accounts
for the year ended 31 March 2023
MASSGROVE LIMITED
Unaudited accounts
Contents
MASSGROVE LIMITED
Company Information
for the year ended 31 March 2023
Director
Maurice Naji Lawee
Company Number
01099352 (England and Wales)
Registered Office
274 WEST END LANE
LONDON
NW6 1LJ
ENGLAND
Accountants
Helrik and Louw
72 Great Suffolk Street
London
SE1 0BL
MASSGROVE LIMITED
Statement of financial position
as at 31 March 2023
Tangible assets
20,801
26,541
Inventories
140,000
148,000
Cash at bank and in hand
13,480
33,901
Creditors: amounts falling due within one year
(245,059)
(232,332)
Net current assets
252,046
301,333
Total assets less current liabilities
272,910
327,937
Creditors: amounts falling due after more than one year
(132,291)
(173,412)
Net assets
140,619
154,525
Called up share capital
100
100
Profit and loss account
140,519
154,425
Shareholders' funds
140,619
154,525
For the year ending 31 March 2023 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 March 2024 and were signed on its behalf by
Maurice Naji Lawee
Director
Company Registration No. 01099352
MASSGROVE LIMITED
Notes to the Accounts
for the year ended 31 March 2023
MASSGROVE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 01099352. The registered office is 274 WEST END LANE, LONDON, NW6 1LJ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on reducing value
Fixtures & fittings
20% on reducing value
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Investments in shares are included at cost less accumulated impairment.
MASSGROVE LIMITED
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2022
36,433
48,449
84,882
At 31 March 2023
36,433
48,449
84,882
At 1 April 2022
27,787
30,554
58,341
Charge for the year
2,161
3,579
5,740
At 31 March 2023
29,948
34,133
64,081
At 31 March 2023
6,485
14,316
20,801
At 31 March 2022
8,646
17,895
26,541
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Investments
Other investments
Valuation at 1 April 2022
63
Valuation at 31 March 2023
63
Amounts falling due within one year
Trade debtors
122,475
130,614
Accrued income and prepayments
4,125
4,125
Other debtors
217,025
217,025
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
54,210
35,878
Taxes and social security
17,752
28,468
Loans from directors
168,818
164,202
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
132,291
173,412
9
Average number of employees
During the year the average number of employees was 4 (2022: 4).