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MHP Construction Limited
 
 
Company Registration Number
05684569
 
 
Report of the Directors and
Unaudited Financial Statements
 
 
Period of accounts
 
Start date 01/02/2020
 
End date 31/01/2021
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 1
MHP Construction Limited
 
Contents of the Financial Statements
for the Period Ended 31 January 2021
 
 
Page
Company Information 3
 
Report of the Directors 4
 
Report of the Accountants 5
 
Profit and Loss Account 6
 
Balance Sheet 7 - 8
 
Notes to the Financial Statements 9 - 13
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 2
MHP Construction Limited
 
Company Information
for the Period Ended 31 January 2021
 
Directors Paul Braybrook
 
Company secretary Karin Aitkin
 
Registered office 115 Ongar Road
CHELMSFORD
Essex
CM1 3ND
 
Company Registration Number 05684569
 
Accountants Name Spensars
Address 25 Holland Road
EAST HAM
London
E6 2EW
 
Bankers Name Lloyds TSB Plc
Address 180-182 High Street
WALTHAMSTOW
London
E17 7JH
SS6 7FN
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 3
MHP Construction Limited
Directors Report
for the Period Ended 31 January 2021
The directors present their report with the financial statements of the company for the
period ended 31 January 2021
Principal activities
The principal activity of the company in the period under review was
construction engineers
Directors
The director(s) shown below have held office during the whole of the period
Paul Braybrook
Political and charitable donations 2021 2020
£ £
Charitable donations during the year amounted to 48 700
Small Company Provisions
These accounts have been prepared in accordance with the provisions applicable to
companies subject to the small companies regime.
 
This report was approved by the board of directors on 2022-08-31
and signed on behalf of the board by
Name Paul Braybrook
Status Director
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 4
MHP Construction Limited
 
Accountants' Report
for the Period Ended 31 January 2021
 
Independent accountants' report
 
Report to the directors on the preparation of the unaudited statutory accounts of the company for theperiod ended 31 January 2021. In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of the company for the period ended 31 January 2021 as set out on pages 3 to 15 which comprise of Profit and Loss Account, the Balance Sheet and the related notes from the companys accounting records and from information and explanations you have given us. This report is made solely to the Board of Directors of the company, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the
accounts of the company and state those matters that we have agreed to state to the Board of Directors
of the company, as a body, in this report. To the fullest extent permitted by law, we do not accept or
assume responsibility to anyone other than the company and its Board of Directors as a body for our
work or for this report.
 
It is your duty to ensure the company 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/(loss) of
the company. You consider the company is exempt from the statutory audit requirement for the
period.
We have not been instructed to carry out an audit of the financial statements. 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 financial
statements.
 
 
 
 
 
 
 
Spensars
25 Holland Road
EAST HAM
London
E6 2EW
 
Date 2022-08-31
Page 5
MHP Construction Limited
 
Profit and Loss Account
for the Period Ended 31 January 2021
2021 2020
Notes £ £
 
Turnover 2 814,724 981,680
Cost of sales 702,235 851,842
______ ______
Gross Profit/(Loss) 112,489 129,838
 
Distribution costs 1,551 880
Administrative expenses 64,507 68,528
______ ______
Operating costs 66,058 69,408
 
______ ______
Operating Profit/(Loss) 3 46,431 60,430
______ ______
Interest payable and similar 9,601 27,310
______ ______
Net Finance income/(Loss) (9,601) (27,310)
______ ______
Profit/(Loss) on ordinary activities before taxation 36,830 33,120
 
Tax on profit on ordinary activities 5 7,056 9,964
_____ _____
Profit/(Loss) for the financial period after taxation 29,774 23,156
There were no recognised gains or losses other than the profit/(loss) shown attributable to the
shareholders for the period ended 31 January 2021
 
The notes form part of these financial statements
 
 
 
 
 
 
Page 6
MHP Construction Limited
Balance Sheet
for the Period Ended 31 January 2021
Company registration number 05684569
2021 2020
Notes £ £
Fixed assets
Tangible fixed assets 6 18,056 16,685
_______ _______
Total fixed assets 18,056 16,685
Current assets
Debtors 7 467,459 337,022
Cash at bank and in hand 13,881 14,450
_______ _______
Total current assets/(liabilities) 481,340 351,472
Creditors
Creditors - amounts falling
due within one year 8 268,958 217,493
_______ _______
Net current assets 212,382 133,979
_______ _______
Total assets less current liabilities 230,438 150,664
_______ _______
Creditors - amounts falling
due after more than one year 9 50,000 0
_______ _______
Long term creditors 50,000 0
______ ______
Net assets/(liabilities) 180,438 150,664
Capital and reserves
Called up share capital 10 100 100
Profit and loss account 11 180,338 150,564
______ ______
Total shareholders funds 180,438 150,664
 
 
 
 
 
 
 
 
Page 7
MHP Construction Limited
 
Balance Sheet
for the Period Ended 31 January 2021
 
 
 
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
 
For the year ending 31 January 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
 
The financial statements were approved by the Board of Directors on 2022-08-31
 
SIGNED ON BEHALF OF THE BOARD BY
 
 
 
 
 
 
 
Name Paul Braybrook
 
The notes form part of these financial statements
Average number of employees during period 2
 
 
 
 
 
 
 
 
 
Page 8
MHP Construction Limited
Notes to the Financial Statements
for the Period Ended 31 January 2021
1. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the small companies regime.
Going Concern
The company has a deficit on shareholders' funds and relies upon the support of its shareholders and creditors,which has been confirmed for a period of at least twelve months from the approval of the financial statements.Accordingly the directors have prepared the financial statements on the going concern basis.
Turnover
The turnover shown in the profit and loss account represents revenue earned during the period, inclusive of VAT.Long-term and ongoing contracts turnover represents the value of work done including estimates of amounts not yet invoiced and is recognised by reference to the stage of completion.
Tangible fixed assets Depreciation
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchangeruling at the balance sheet date. Transactions in foreign currencies are translated into sterling atthe rate of exchange ruling at the date of the transaction. Exchange differences are taken intoaccount in arriving at the operating profit.
Pension costs
The company operates a defined contribution pension scheme for employees. The annual contributionspayable are charged to the profit and loss account.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 9
MHP Construction Limited
Notes to the Financial Statements
for the Period Ended 31 January 2021
2. Turnover 2021 2020
£ £
United Kingdom 814,724 981,680
______ ______
Total 814,724 981,680
3. Operating profit/(loss) 2021 2020
Profit before tax as stated after charging the following £ £
Depreciation - owned assets 4,514 3,162
4. Directors' remuneration 2021 2020
£ £
Directors remuneration 10,000 9,900
Value of directors pension contributions
_____ ____
Total 10,000 9,900
The number of Directors accruing pension benefits was
5. Taxation
The tax charge on the profit on ordinary activities 2021 2020
for the period was as follows £ £
UK Corporation Tax net of reliefs 7,056 9,964
____ ____
Tax on profit on ordinary activities 7,056 9,964
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 10
MHP Construction Limited
Notes to the Financial Statements
for the Period Ended 31 January 2021
6. Tangible fixed assets
Plant and Motor Total
machinery vehicles
Cost £ £ £
At 1 February 2020 13,409 29,995 43,404
Additions 5,886 5,886
_____ _____ _____
At 31 January 2021 19,295 29,995 49,290
Depreciation
At 1 February 2020 9,015 17,704 26,719
Charge for year 2,056 2,459 4,515
_____ _____ _____
At 31 January 2021 11,071 20,163 31,234
Net book value
At 31 January 2021 8,224 9,832 18,056
At 31 January 2020 4,394 12,291 16,685
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 11
MHP Construction Limited
Notes to the Financial Statements
for the Period Ended 31 January 2021
7. Debtors 2021 2020
Trade debtors 86,017 40,281
Other debtors 381,442 296,741
______ ______
Total 467,459 337,022
8. Creditors amounts falling due within one year 2021 2020
Trade creditors 43,753 20,260
Corporation tax 7,056 9,964
Other taxation and social security 202,813 170,169
Other creditors 15,336 17,100
______ ______
Total 268,958 217,493
9. Creditors amounts falling due after more than one year 2021 2020
Bank loans 50,000
_____ _
Total 50,000 0
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 12
MHP Construction Limited
Notes to the Financial Statements
for the Period Ended 31 January 2021
10. Share capital 2021 2020
Authorised type Par value £ £
Ordinary 1 100 100
___ ___
Total 100 100
Allotted, called up and paid £ £
Ordinary 100 100
___ ___
Total 100 100
11. Reserves/Retained profit
Retained profit reconciliation £
Reserves at 1 February 2020 150,564
Profit/(Loss) for year 29,774
Dividends paid
______
Retained Profit/(Loss) at 31 January 2021 180,338
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 13