MW Restructuring Limited Filleted Accounts Cover
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Company No. 08610565
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MW Restructuring Limited Balance Sheet Registrar
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at
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Company No.
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Notes
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2021
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2020
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£
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£
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Fixed assets
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Tangible assets
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4
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Investment property
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5
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Investments
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6
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Current assets
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Debtors
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7
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Cash at bank and in hand
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Creditors: Amount falling due within one year
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8
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(
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(
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Net current assets
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Total assets less current liabilities
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Provisions for liabilities
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Deferred taxation
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9
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(
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(
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Net assets
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Capital and reserves
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Called up share capital
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Revaluation reserve
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10
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(
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(
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Profit and loss account
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10
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Total equity
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As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
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Approved by the board on 08 October 2021
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And signed on its behalf by:
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M.R. Cooke
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Director
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08 October 2021
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MW Restructuring Limited Notes to the Accounts Registrar
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for the year ended 31 July 2021
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1
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General information
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Its registered number is: 08610565
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Its registered office is:
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2
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Accounting policies
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Turnover
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Tangible fixed assets and depreciation
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At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. |
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Furniture, fittings and equipment
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Taxation
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Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. |
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Freehold investment property
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No depreciation is provided in respect of investment properties. |
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Investments
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Trade and other debtors
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Trade and other creditors
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Foreign currencies
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Defined contribution pensions
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The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
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Provisions
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Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet. |
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3
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Employees
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2021
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2020
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Number
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Number
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The average monthly number of employees (including directors) during the year was:
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4
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Tangible fixed assets
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Fixtures, fittings and equipment
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Total
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£
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£
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Cost or revaluation
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At 1 August 2020
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At 31 July 2021
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Depreciation
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At 1 August 2020
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Charge for the year
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At 31 July 2021
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Net book values
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At 31 July 2021
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At 31 July 2020
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5
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Investment property
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Freehold Investment Property
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£
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Valuation
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At 1 August 2020
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Additions
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Revaluation
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At 31 July 2021
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6
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Investments
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Investment in Subsidiaries
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Other investments - Unlisted
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Total
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£
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£
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£
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Cost or valuation
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At 1 August 2020
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Additions
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Revaluation
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(
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(
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At 31 July 2021
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Provisions/Impairment
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Net book values
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At 31 July 2021
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At 31 July 2020
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7
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Debtors
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2021
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2020
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£
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£
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Trade debtors
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VAT recoverable
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Other debtors
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Amounts included within Other debtors that fall due after more than one year
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8
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Creditors:
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amounts falling due within one year
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2021
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2020
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£
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£
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Taxes and social security
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Other creditors
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9
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Provisions for liabilities
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Deferred taxation
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Accelerated Capital Allowances, Losses and Other Timing Differences
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Arising from revaluation
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Total
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£
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£
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£
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At 1 August 2020
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139
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Charge to the profit and loss account for the period
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(28)
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(
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Charge to other comprehensive income for the period
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At 31 July 2021
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111
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4,117
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2021
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2020
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£
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£
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Accelerated capital allowances
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Revaluation of land and buildings
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10
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Reserves
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Revaluation Reserve
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Total other reserves
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£
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£
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At 1 August 2019
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(
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(
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Movement on revaluation reserve
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(
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(
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At 31 July 2020 and 1 August 2020
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(
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(
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Movement on revaluation reserve
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Deferred taxation
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(
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(
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At 31 July 2021
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(
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(
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