M and D Groundworks Ltd 08385072 false 2017-03-01 2018-02-28 2018-02-28 The principal activity of the company is other construction installation Digita Accounts Production Advanced 6.21.8540.0 Software true 08385072 2017-03-01 2018-02-28 08385072 2018-02-28 08385072 core:RetainedEarningsAccumulatedLosses 2018-02-28 08385072 core:ShareCapital 2018-02-28 08385072 core:CurrentFinancialInstruments 2018-02-28 08385072 core:CurrentFinancialInstruments core:WithinOneYear 2018-02-28 08385072 core:Non-currentFinancialInstruments 2018-02-28 08385072 core:Non-currentFinancialInstruments core:AfterOneYear 2018-02-28 08385072 core:MotorVehicles 2018-02-28 08385072 bus:SmallEntities 2017-03-01 2018-02-28 08385072 bus:AuditExemptWithAccountantsReport 2017-03-01 2018-02-28 08385072 bus:FullAccounts 2017-03-01 2018-02-28 08385072 bus:RegisteredOffice 2017-03-01 2018-02-28 08385072 bus:Director1 2017-03-01 2018-02-28 08385072 bus:Director2 2017-03-01 2018-02-28 08385072 bus:PrivateLimitedCompanyLtd 2017-03-01 2018-02-28 08385072 bus:Agent1 2017-03-01 2018-02-28 08385072 core:RetainedEarningsAccumulatedLosses 2017-03-01 2018-02-28 08385072 core:ShareCapital 2017-03-01 2018-02-28 08385072 core:MotorVehicles 2017-03-01 2018-02-28 08385072 countries:AllCountries 2017-03-01 2018-02-28 08385072 2017-02-28 08385072 core:RetainedEarningsAccumulatedLosses 2017-02-28 08385072 core:ShareCapital 2017-02-28 08385072 core:MotorVehicles 2017-02-28 08385072 2016-03-01 2017-02-28 08385072 2017-02-28 08385072 core:RetainedEarningsAccumulatedLosses 2017-02-28 08385072 core:ShareCapital 2017-02-28 08385072 core:CurrentFinancialInstruments 2017-02-28 08385072 core:CurrentFinancialInstruments core:WithinOneYear 2017-02-28 08385072 core:Non-currentFinancialInstruments 2017-02-28 08385072 core:Non-currentFinancialInstruments core:AfterOneYear 2017-02-28 08385072 core:MotorVehicles 2017-02-28 08385072 core:RetainedEarningsAccumulatedLosses 2016-03-01 2017-02-28 08385072 core:ShareCapital 2016-03-01 2017-02-28 08385072 2016-02-29 08385072 core:RetainedEarningsAccumulatedLosses 2016-02-29 08385072 core:ShareCapital 2016-02-29 iso4217:GBP xbrli:pure

Registration number: 08385072

M and D Groundworks Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2018

Quay Accounts (Devon) Ltd
2nd Floor
10 Southernhay West
Exeter
EX1 1JG

 

M and D Groundworks Ltd

Contents

Company Information

1

Accountants' Report

2

Statement of Comprehensive Income

3

Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Financial Statements

6 to 9

 

M and D Groundworks Ltd

Company Information

Directors

Mr Martin Daniel Jones

Mr Dalton Leigh Jones

Registered office

24 Hoker Road
Exeter
Devon
EX2 5HR

Bankers

Lloyds Bank
High Street, Exeter
234 High Street
Exeter
Devon
EX4 3NL

Accountants

Quay Accounts (Devon) Ltd
2nd Floor
10 Southernhay West
Exeter
EX1 1JG

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
M and D Groundworks Ltd
for the Year Ended 28 February 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of M and D Groundworks Ltd for the year ended 28 February 2018 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Certified Practising Accountants (ICPA), we are subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of M and D Groundworks Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of M and D Groundworks Ltd and state those matters that we have agreed to state to the Board of Directors of M and D Groundworks Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M and D Groundworks Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that M and D Groundworks Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of M and D Groundworks Ltd. You consider that M and D Groundworks Ltd 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 accounts of M and D Groundworks Ltd. 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 accounts.

......................................

Quay Accounts (Devon) Ltd
2nd Floor
10 Southernhay West
Exeter
EX1 1JG

8 November 2018

 

M and D Groundworks Ltd

Statement of Comprehensive Income for the Year Ended 28 February 2018

Note

2018
£

2017
£

Profit for the year

 

54,453

49,338

Total comprehensive income for the year

 

54,453

49,338

 

M and D Groundworks Ltd

(Registration number: 08385072)
Balance Sheet as at 28 February 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

-

5,151

Current assets

 

Debtors

5

10,881

19,838

Cash at bank and in hand

 

24,131

26,329

 

35,012

46,167

Creditors: Amounts falling due within one year

6

(30,336)

(23,092)

Net current assets

 

4,676

23,075

Total assets less current liabilities

 

4,676

28,226

Creditors: Amounts falling due after more than one year

6

(3,670)

(7,673)

Net assets

 

1,006

20,553

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

906

20,453

Total equity

 

1,006

20,553

For the financial year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 8 November 2018 and signed on its behalf by:
 

.........................................

Mr Martin Daniel Jones

Director

 

M and D Groundworks Ltd

Statement of Changes in Equity for the Year Ended 28 February 2018

Share capital
£

Profit and loss account
£

Total
£

At 1 March 2017

100

20,453

20,553

Profit for the year

-

54,453

54,453

Total comprehensive income

-

54,453

54,453

Dividends

-

(74,000)

(74,000)

At 28 February 2018

100

906

1,006

Share capital
£

Profit and loss account
£

Total
£

At 1 March 2016

100

33,115

33,215

Profit for the year

-

49,338

49,338

Total comprehensive income

-

49,338

49,338

Dividends

-

(62,000)

(62,000)

At 28 February 2017

100

20,453

20,553

 

M and D Groundworks Ltd

Notes to the Financial Statements for the Year Ended 28 February 2018

1

General information

The company is a private company limited by share capital incorporated in UK.

The address of its registered office is:
24 Hoker Road
Exeter
Devon
EX2 5HR

These financial statements were authorised for issue by the Board on 8 November 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

M and D Groundworks Ltd

Notes to the Financial Statements for the Year Ended 28 February 2018

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2017 - 5).

 

M and D Groundworks Ltd

Notes to the Financial Statements for the Year Ended 28 February 2018

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2017

41,104

41,104

At 28 February 2018

41,104

41,104

Depreciation

At 1 March 2017

35,953

35,953

Charge for the year

5,151

5,151

At 28 February 2018

41,104

41,104

Carrying amount

At 28 February 2018

-

-

At 28 February 2017

5,151

5,151

5

Debtors

2018
£

2017
£

Trade debtors

10,881

19,838

Total current trade and other debtors

10,881

19,838

6

Creditors

Note

2018
£

2017
£

Due within one year

 

Trade creditors

 

201

363

Taxation and social security

 

13,642

5,481

Other creditors

 

16,493

17,248

 

30,336

23,092

Due after one year

 

Loans and borrowings

7

3,670

7,673

7

Loans and borrowings

2018
£

2017
£

Non-current loans and borrowings

Bank borrowings

3,670

7,673

 

M and D Groundworks Ltd

Notes to the Financial Statements for the Year Ended 28 February 2018

2018
£

2017
£

Current loans and borrowings

8

Dividends

 

2018

2017

 

£

£

Interim dividend of £740.00 (2017 - £620.00) per ordinary share

74,000

62,000