MHP Construction Limited |
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Directors Report |
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for the Period Ended 31 January 2021 |
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The directors present their report with the financial statements of the company for the |
period ended 31 January 2021 |
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Principal activities |
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The principal activity of the company in the period under review was |
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construction engineers |
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Directors |
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The director(s) shown below have held office during the whole of the period |
Paul Braybrook |
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Political and charitable donations |
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2021 |
2020 |
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£ |
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Charitable donations during the year amounted to |
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48 |
700 |
Small Company Provisions |
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These accounts have been prepared in accordance with the provisions applicable to |
companies subject to the small companies regime. |
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This report was approved by the board of directors on |
2022-08-31 |
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and signed on behalf of the board by |
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Name |
Paul Braybrook |
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Status |
Director |
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Page 4 |
MHP Construction Limited |
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Accountants' Report |
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for the Period Ended 31 January 2021 |
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Independent accountants' report |
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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 |
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of the company, as a body, in this report. To the fullest extent permitted by law, we do not accept or |
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assume responsibility to anyone other than the company and its Board of Directors as a body for our |
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work or for this report. |
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It is your duty to ensure the company has kept adequate accounting records and to prepare statutory |
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accounts that give a true and fair view of the assets, liabilities, financial position and profit/(loss) of |
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the company. You consider the company is exempt from the statutory audit requirement for the |
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period. |
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We have not been instructed to carry out an audit of the financial statements. For this reason, we |
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have not verified the accuracy or completeness of the accounting records or information and |
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explanations you have given to us and we do not, therefore, express any opinion on the financial |
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statements. |
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Spensars |
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25 Holland Road |
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EAST HAM |
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London |
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E6 2EW |
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Date |
2022-08-31 |
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Page 5 |
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MHP Construction Limited |
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Profit and Loss Account |
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for the Period Ended 31 January 2021 |
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2021 |
2020 |
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Notes |
£ |
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Turnover |
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2 |
814,724 |
981,680 |
Cost of sales |
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702,235 |
851,842 |
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Gross Profit/(Loss) |
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112,489 |
129,838 |
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Distribution costs |
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1,551 |
880 |
Administrative expenses |
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64,507 |
68,528 |
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Operating costs |
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66,058 |
69,408 |
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Operating Profit/(Loss) |
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3 |
46,431 |
60,430 |
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Interest payable and similar |
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9,601 |
27,310 |
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Net Finance income/(Loss) |
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(9,601) |
(27,310) |
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Profit/(Loss) on ordinary activities before taxation |
36,830 |
33,120 |
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Tax on profit on ordinary activities |
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5 |
7,056 |
9,964 |
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Profit/(Loss) for the financial period after taxation |
29,774 |
23,156 |
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There were no recognised gains or losses other than the profit/(loss) shown attributable to the |
shareholders for the period ended 31 January 2021 |
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The notes form part of these financial statements |
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Page 6 |
MHP Construction Limited |
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Balance Sheet |
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for the Period Ended 31 January 2021 |
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
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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. |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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The financial statements were approved by the Board of Directors on |
2022-08-31 |
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SIGNED ON BEHALF OF THE BOARD BY |
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Name |
Paul Braybrook |
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The notes form part of these financial statements |
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Average number of employees during period |
2 |
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Page 8 |
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MHP Construction Limited |
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Notes to the Financial Statements |
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for the Period Ended 31 January 2021 |
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1. Accounting policies |
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Basis of preparation |
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The financial statements have been prepared under the historical cost convention and in accordance with the small companies regime. |
Going Concern |
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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 |
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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 |
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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 |
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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 |
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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 |
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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 |
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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 |
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The company operates a defined contribution pension scheme for employees. The annual contributionspayable are charged to the profit and loss account. |
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Page 9 |
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MHP Construction Limited |
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Notes to the Financial Statements |
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for the Period Ended 31 January 2021 |
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2. Turnover |
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2021 |
2020 |
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£ |
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United Kingdom |
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814,724 |
981,680 |
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Total |
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814,724 |
981,680 |
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3. Operating profit/(loss) |
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2021 |
2020 |
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Profit before tax as stated after charging the following |
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Depreciation - owned assets |
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4,514 |
3,162 |
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4. Directors' remuneration |
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2021 |
2020 |
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Directors remuneration |
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10,000 |
9,900 |
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Value of directors pension contributions |
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Total |
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10,000 |
9,900 |
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The number of Directors accruing pension benefits was |
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5. Taxation |
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The tax charge on the profit on ordinary activities |
2021 |
2020 |
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for the period was as follows |
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UK Corporation Tax net of reliefs |
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7,056 |
9,964 |
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Tax on profit on ordinary activities |
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7,056 |
9,964 |
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Page 10 |
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