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REGISTERED NUMBER: 01879832 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2022

for

MEDWAY PLASTERING CO LTD

MEDWAY PLASTERING CO LTD (REGISTERED NUMBER: 01879832)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MAY 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MEDWAY PLASTERING CO LTD

Company Information
FOR THE YEAR ENDED 31 MAY 2022







DIRECTOR: P Martin





SECRETARY: Mrs P Martin





REGISTERED OFFICE: Prospect Place
Shellbank Lane
Bean
Dartford
Kent
DA2 8AX





REGISTERED NUMBER: 01879832 (England and Wales)





ACCOUNTANTS: Riddingtons Ltd
The Old Barn
off Wood Street
Swanley Village
Kent
BR8 7PA

MEDWAY PLASTERING CO LTD (REGISTERED NUMBER: 01879832)

Balance Sheet
31 MAY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 259,146 322,669

CURRENT ASSETS
Stocks 308,232 34,250
Debtors 5 1,798,932 3,329,113
Cash at bank and in hand 88,187 24,720
2,195,351 3,388,083
CREDITORS
Amounts falling due within one year 6 734,993 1,012,632
NET CURRENT ASSETS 1,460,358 2,375,451
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,719,504

2,698,120

CREDITORS
Amounts falling due after more than one
year

7

(102,016

)

(951,034

)

PROVISIONS FOR LIABILITIES (50,510 ) (61,787 )
NET ASSETS 1,566,978 1,685,299

CAPITAL AND RESERVES
Called up share capital 102 102
Share premium 9,000 9,000
Retained earnings 1,557,876 1,676,197
SHAREHOLDERS' FUNDS 1,566,978 1,685,299

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

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.

MEDWAY PLASTERING CO LTD (REGISTERED NUMBER: 01879832)

Balance Sheet - continued
31 MAY 2022


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2022 and were signed by:





P Martin - Director


MEDWAY PLASTERING CO LTD (REGISTERED NUMBER: 01879832)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MAY 2022

1. STATUTORY INFORMATION

Medway Plastering Co 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.

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.

Other Intangible Assets have been fully amortised in the current year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks 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 Income Statement, 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.

MEDWAY PLASTERING CO LTD (REGISTERED NUMBER: 01879832)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2021 1,001,453
Additions 2,311
Disposals (73,765 )
At 31 May 2022 929,999
DEPRECIATION
At 1 June 2021 678,784
Charge for year 55,819
Eliminated on disposal (63,750 )
At 31 May 2022 670,853
NET BOOK VALUE
At 31 May 2022 259,146
At 31 May 2021 322,669

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 10,000 128,277
Other debtors 1,788,932 3,200,836
1,798,932 3,329,113

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 174,779 404,329
Hire purchase contracts 28,929 53,195
Trade creditors 96,170 169,907
Taxation and social security 20,319 56,239
Other creditors 414,796 328,962
734,993 1,012,632

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 94,207 914,296
Hire purchase contracts 7,809 36,738
102,016 951,034

MEDWAY PLASTERING CO LTD (REGISTERED NUMBER: 01879832)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2022

8. RELATED PARTY DISCLOSURES

Included in the Other Debtors is an amount of £1,454,738 (2021 - £2,854,125) owed by Urban Enhance Ltd, a company under the control of director Mr P Martin.

9. ULTIMATE CONTROLLING PARTY

During the year, the company was under control of the director, Mr P Martin.