M N Badger Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07640123 (England and Wales)

Financial Statements for the Year Ended 31 May 2023

for

M N Badger Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M A Badger

Mrs A Badger

REGISTERED OFFICE:

61 Stanley Road

Bootle

Merseyside

L20 7BZ

REGISTERED NUMBER:

07640123 (England and Wales)

ACCOUNTANTS:

Kinsella Clarke Limited

61 Stanley Road

Bootle

Merseyside

L20 7BZ

FIXED ASSETS

Tangible assets

4

26,837

8,104

CURRENT ASSETS

Stocks

15,750

18,719

Debtors

5

38,197

101,667

Cash at bank

31,166

24,801

85,113

145,187

CREDITORS

Amounts falling due within one year

6

71,193

120,113

NET CURRENT ASSETS

13,920

25,074

TOTAL ASSETS LESS CURRENT LIABILITIES

40,757

33,178

CREDITORS

Amounts falling due after more than one year

7

(21,667

)

(31,667

)

PROVISIONS FOR LIABILITIES

(4,650

)

(1,211

)

NET ASSETS

14,440

300

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

14,438

298

SHAREHOLDERS' FUNDS

14,440

300

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by:

M A Badger - Director

1.	STATUTORY INFORMATION

M N Badger Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2022

34,395

Additions

40,795

Disposals

(18,450

)

At 31 May 2023

56,740

DEPRECIATION

At 1 June 2022

26,291

Charge for year

12,331

Eliminated on disposal

(8,719

)

At 31 May 2023

29,903

NET BOOK VALUE

At 31 May 2023

26,837

At 31 May 2022

8,104

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 June 2022

19,850

Disposals

(15,650

)

At 31 May 2023

4,200

DEPRECIATION

At 1 June 2022

12,171

Charge for year

187

Eliminated on disposal

(8,719

)

At 31 May 2023

3,639

NET BOOK VALUE

At 31 May 2023

561

At 31 May 2022

7,679

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Trade debtors

24,082

45,081

Other debtors

14,115

56,586

38,197

101,667

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Trade creditors

18,359

44,605

Amounts owed to group undertakings

13,300

7,100

Taxation and social security

27,028

56,358

Other creditors

12,506

12,050

71,193

120,113

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.23

31.5.22

£

£

Other creditors

21,667

31,667

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23

31.5.22

£

£

Mrs A Badger and M A Badger

Balance outstanding at start of year

42,471

29,453

Amounts advanced

25,104

38,293

Amounts repaid

(67,931

)

(25,275

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(356

)

42,471

9.	ULTIMATE CONTROLLING PARTY

The company was under the control of its directors, Mr M Badger and Mrs A Badger, virtue to the fact that between them, they hold all of the company's issued share capital.