Accounts filed on 31-05-2018

DAVID MUSSON FENCING LIMITED - Company Information

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Registered number: 04398503






David Musson Fencing Limited


ACCOUNTS

FOR THE YEAR ENDED 31/05/2018
























Prepared By:
Cheyettes
Chartered Certified Accountants & Registered Auditors
114 St Mary's Road
Market Harborough
Leicestershire
LE16 7DX


David Musson Fencing Limited


ACCOUNTS
FOR THE YEAR ENDED 31/05/2018





DIRECTORS
Benjamin Musson
Matthew Musson
William David Musson



SECRETARY
Janice Louise Musson


REGISTERED OFFICE
Stonepits Farm
Wartnaby
Melton Mowbray
Leicestershire
LE14 3JQ


COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 04398503



ACCOUNTANTS
Cheyettes
Chartered Certified Accountants & Registered Auditors
114 St Mary's Road
Market Harborough
Leicestershire
LE16 7DX


ACCOUNTS
FOR THEYEARENDED31/05/2018



CONTENTS



		Page

Directors' Report		-

Statement Of Comprehensive Income		-

Balance Sheet		3

Notes To The Accounts		4


The following do not form part of the statutory financial statements:

Trading And Profit And Loss Account		-

Profit And Loss Account Summaries		-


BALANCE SHEET AT 31/05/2018

			2018		2017
	Notes		£		£

FIXED ASSETS
Tangible assets	3		513,722		425,584

CURRENT ASSETS
Stock		1,000,000		700,000
Debtors	5	690,377		524,428
Cash at bank and in hand		923,301		1,317,571
		2,613,678		2,541,999
CREDITORS: Amounts falling due within one year	6	775,987		755,628
NET CURRENT ASSETS			1,837,691		1,786,371
TOTAL ASSETS LESS CURRENT LIABILITIES			2,351,413		2,211,955


PROVISIONS FOR LIABILITIES AND CHARGES	8		46,905		53,889

NET ASSETS			2,304,508		2,158,066

CAPITAL AND RESERVES

Called up share capital	9		400		400
Profit and loss account			2,304,108		2,157,666
SHAREHOLDERS' FUNDS			2,304,508		2,158,066

For the year ending 31/05/2018 the company was entitled to exemption 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 directors acknowledge their 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.

Approved by the board on 26/02/2019 and signed on their behalf by



.............................
Matthew Musson
Director


NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/05/2018

1. ACCOUNTING POLICIES




1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .




1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Land And Buildings		reducing balance 10%
Plant and Machinery		reducing balance 25%
Commercial Vehicles		reducing balance 25%
Fixtures and Fittings		reducing balance 15%




1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.




1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.




1e. Goodwill
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 20 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.




2. INTANGIBLE FIXED ASSETS

	Purchased
	Goodwill	Total
	£	£
Cost
At 01/06/2017	600,000	600,000
At 31/05/2018	600,000	600,000
Depreciation
At 01/06/2017	600,000	600,000
At 31/05/2018	600,000	600,000
Net Book Amounts
At 31/05/2018	-	-




3. TANGIBLE FIXED ASSETS

	Land And	Plant and	Commercial	Fixtures
	Buildings	Machinery	Vehicles	and Fittings	Total
	£	£	£	£	£
Cost
At 01/06/2017	279,370	182,687	288,757	210,237	961,051
Additions	223,642	29,907	-	5,831	259,380
At 31/05/2018	503,012	212,594	288,757	216,068	1,220,431
Depreciation
At 01/06/2017	150,505	105,635	164,957	114,370	535,467
For the year	88,127	26,741	30,950	25,424	171,242
At 31/05/2018	238,632	132,376	195,907	139,794	706,709
Net Book Amounts
At 31/05/2018	264,380	80,218	92,850	76,274	513,722
At 31/05/2017	128,865	77,052	123,800	95,867	425,584




4. STOCK	2018	2017
	£	£
Stock comprises:

Stock	1,000,000	700,000
	1,000,000	700,000




5. DEBTORS	2018	2017
	£	£
Amounts falling due within one year
Trade debtors	542,063	524,428
Other debtors	141,300	-
Prepayments	7,014	-
	690,377	524,428




6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	2018	2017
	£	£
UK corporation tax	105,927	134,928
VAT	80,149	129,510
Directors current account	30,881	32,938
Directors current account	113,828	103,029
Directors current account	43,434	73,359
Trade creditors	339,499	230,578
Accruals	62,269	51,286
	775,987	755,628




7. EMPLOYEES

	2018	2017
	No.	No.
Average number of employees	18	16




8. PROVISIONS FOR LIABILITIES	2018	2017
	£	£
Deferred taxation	46,905	53,889
	46,905	53,889




9. SHARE CAPITAL	2018	2017
	£	£
Allotted, issued and fully paid:
100 A Ordinary shares of £1 each	100	100
100 B Ordinary of £1 each	100	100
100 C Ordinay of £1 each	100	100
100 D Ordinary Shares of £1 each	100	100
	400	400