REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2022 |
for |
M D L Kelex Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2022 |
for |
M D L Kelex Ltd |
M D L Kelex Ltd (Registered number: 02641017) |
Contents of the Financial Statements |
for the Year Ended 30 April 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
M D L Kelex Ltd |
Company Information |
for the Year Ended 30 April 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Aldreth |
Pearcroft Road |
Stonehouse |
Gloucestershire |
GL10 2JY |
SOLICITORS: |
3/7 Rowcroft |
Stroud |
GL5 3BJ |
M D L Kelex Ltd (Registered number: 02641017) |
Balance Sheet |
30 April 2022 |
30.4.22 | 30.4.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
M D L Kelex Ltd (Registered number: 02641017) |
Balance Sheet - continued |
30 April 2022 |
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 and authorised for issue on |
M D L Kelex Ltd (Registered number: 02641017) |
Notes to the Financial Statements |
for the Year Ended 30 April 2022 |
1. | STATUTORY INFORMATION |
M D L Kelex Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | 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. |
Goodwill |
Goodwill is being amortised over the estimated useful life of 7 years. |
Tangible fixed assets |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
M D L Kelex Ltd (Registered number: 02641017) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Finance costs |
Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument |
Dividends |
Equity dividends are recognised when they legally become payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholdersat an annual general meeting. |
Judgements in applying accounting policies and key sources of estimation uncertainty |
In the process of applying the company's accounting policies, management are required to make certain estimates and judgements. The key estimates and judgements are as follows: |
Depreciation and residual values |
The director has reviewed the asset lives and associated residual values of all fixed asset classes, and has concluded that asset lives and residual values are appropriate |
Impairment of fixed assets |
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
M D L Kelex Ltd (Registered number: 02641017) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 May 2021 |
and 30 April 2022 |
AMORTISATION |
At 1 May 2021 |
Charge for year |
At 30 April 2022 |
NET BOOK VALUE |
At 30 April 2022 |
At 30 April 2021 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2021 |
Additions |
Disposals | ( |
) |
At 30 April 2022 |
DEPRECIATION |
At 1 May 2021 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 April 2022 |
NET BOOK VALUE |
At 30 April 2022 |
At 30 April 2021 |
M D L Kelex Ltd (Registered number: 02641017) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.22 | 30.4.21 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.22 | 30.4.21 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
VAT | 13,559 | 5,818 |
Other creditors |
Directors' current accounts | 66,129 | 55,448 |
Accrued expenses |
8. | RELATED PARTY DISCLOSURES |
The company sold goods and provided services in the period to the value of £250,723 (2020-£276,671) to Accounting & Payroll Stationery Ltd, a company which is under common control. |
At 30th April 2022 the company owed £217,376 to Accounting & Payroll Stationery Ltd. The company was also owed some £128,190 by the holding company MDL Kelex Group Ltd |
9. | ULTIMATE CONTROLLING PARTY |
The ultimate parent undertaking is MDL Kelex Group Limited, Company number 12212449, incorporated in England & Wales. The company is under the control of Mr B Taylor by virtue of his majority shareholding in the ultimate parent undertaking. |