Manufacturing Services Walsall Limited - Accounts to registrar (filleted) - small 18.2
Manufacturing Services Walsall Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 September 2020 |
| for |
| Manufacturing Services Walsall Limited |
| Manufacturing Services Walsall Limited (Registered number: 09797156) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 6 |
| Manufacturing Services Walsall Limited |
| Company Information |
| for the Year Ended 30 September 2020 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Hanover Court |
| 5 Queen Street |
| Lichfield |
| Staffordshire |
| WS13 6QD |
| Manufacturing Services Walsall Limited (Registered number: 09797156) |
| Balance Sheet |
| 30 September 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings | 9 | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| Manufacturing Services Walsall Limited (Registered number: 09797156) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2020 |
| 1. | STATUTORY INFORMATION |
| Manufacturing Services Walsall Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Manufacturing Services Walsall Limited (Registered number: 09797156) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 20,915 | - |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 9. | RESERVES |
| Retained |
| earnings |
| £ |
| Deficit for the year | ( |
) |
| At 30 September 2020 | ( |
) |
| Manufacturing Services Walsall Limited (Registered number: 09797156) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2020 |
| 10. | RELATED PARTY DISCLOSURES |
| Parsons Plastics Limited |
| A company of which Mr ACC Parsons is a shareholder, having a 100% interest. |
| Sales £nil (2019 - £186,068) |
| Management charges received £nil (2019 - £144,428) |
| The amount due by Parsons Plastics Limited (included within other debtors in the accounts) is unsecured and has no specific terms regarding payment of interest. The amount due is payable on demand but the director of Manufacturing Services Walsall Limited has given his assurance that the amount payable will not be demanded until such time as Parsons Plastics Limited can afford to do so without detriment to its operating and working capital requirements. |
| 2020 | 2019 |
| £ | £ |
| Amount due by the related party at the balance sheet date | 41,971 | 181,092 |
| Parsons Clean Air Limited |
| A company in which Mr ACC Parsons is a shareholder, having a 100% interest. |
| Management charges received £nil (2019 - £61,898) |
| The amount due to Parsons Clean Air Limited (included within other creditors in to the accounts) is unsecured and has no specific terms regarding payment of interest. The amount due is payable on demand but the director of Parsons Clean Air Limited has given his assurance that the amount payable will not be demanded until such time as Manufacturing Services Walsall Limited can afford to do so without detriment to its operating and working capital requirements.working capital requirements. |
| 2020 | 2019 |
| £ | £ |
| Amount due to the related party at the balance sheet date | 306,800 | 56,845 |
| Chartered Accountants' Report to the Director |
| on the Unaudited Financial Statements of |
| Manufacturing Services Walsall Limited |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Manufacturing Services Walsall Limited for the year ended 30 September 2020 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of Manufacturing Services Walsall Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Manufacturing Services Walsall Limited and state those matters that we have agreed to state to the director of Manufacturing Services Walsall Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Manufacturing Services Walsall Limited and its director for our work or for this report. |
| It is your duty to ensure that Manufacturing Services Walsall Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Manufacturing Services Walsall Limited. You consider that Manufacturing Services Walsall 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 financial statements of Manufacturing Services Walsall 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 financial statements. |
| Hanover Court |
| 5 Queen Street |
| Lichfield |
| Staffordshire |
| WS13 6QD |