MUSKS LIMITED - Accounts to registrar - small 17.2

REGISTERED NUMBER: 02782780 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2017

FOR

MUSKS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C L Sheen

Mrs C E Sheen

SECRETARY:

C L Sheen

REGISTERED OFFICE:

4 Goodwin Business Park

Willie Snaith Road

Newmarket

Suffolk

CB8 7SQ

REGISTERED NUMBER:

02782780 (England and Wales)

SOLICITORS:

Holmes & Hill

Trinity Street

Halstead

Essex

CO9 1JE

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

34,699

34,699

CURRENT ASSETS

Stocks

49,787

Debtors

6

173,025

Prepayments and accrued income

14,928

Cash at bank and in hand

53,433

291,173

CREDITORS

Amounts falling due within one year

7

100,460

NET CURRENT ASSETS

190,713

TOTAL ASSETS LESS CURRENT LIABILITIES

225,412

CAPITAL AND RESERVES

Called up share capital

130,000

Retained earnings

95,412

SHAREHOLDERS' FUNDS

225,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 9 July 2017 and were signed on its behalf by:

C L Sheen - Director

1.	STATUTORY INFORMATION

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

The financial statements are prepared under the historical cost convention and in accordance with applicable

accounting standards having regard to the size of the company and the group of which it forms part.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1980, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Land and buildings

-

4.5% on cost

Plant and machinery etc

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 May 2016

and 30 April 2017

5,000

10,000

15,000

AMORTISATION

At 1 May 2016

and 30 April 2017

5,000

10,000

15,000

NET BOOK VALUE

At 30 April 2017

-

-

-

At 30 April 2016

-

-

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2016

57,779

357,196

414,975

Additions

-

21,986

21,986

At 30 April 2017

57,779

379,182

436,961

DEPRECIATION

At 1 May 2016

53,888

323,830

377,718

Charge for year

2,629

21,915

24,544

At 30 April 2017

56,517

345,745

402,262

NET BOOK VALUE

At 30 April 2017

1,262

33,437

34,699

At 30 April 2016

3,891

33,366

37,257

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

87,303

Amounts owed by group undertakings

82,194

Other debtors

3,528

173,025

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Hire purchase contracts

5,385

Trade creditors

71,945

Taxation and social security

8,936

Other creditors

14,194

100,460

8.	ULTIMATE CONTROLLING PARTY

The controlling party is C L Sheen.