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REGISTERED NUMBER: 02641017 (England and Wales)















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: Mr B Taylor
Mrs A K Taylor



REGISTERED OFFICE: Unit 16
Stroudwater Business Park
Stonehouse
Stroud
GL10 3SX



REGISTERED NUMBER: 02641017 (England and Wales)



ACCOUNTANTS: JHF Accounting
Aldreth
Pearcroft Road
Stonehouse
Gloucestershire
GL10 2JY



SOLICITORS: Winterbotham Smith Penley LLP
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 20,667 24,667
Tangible assets 5 43,097 35,327
63,764 59,994

CURRENT ASSETS
Stocks 58,973 63,991
Debtors 6 342,762 137,186
Cash at bank 55,760 18,151
457,495 219,328
CREDITORS
Amounts falling due within one year 7 345,322 141,759
NET CURRENT ASSETS 112,173 77,569
TOTAL ASSETS LESS CURRENT
LIABILITIES

175,937

137,563

PROVISIONS FOR LIABILITIES 8,032 6,522
NET ASSETS 167,905 131,041

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 167,903 131,039
SHAREHOLDERS' FUNDS 167,905 131,041

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

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


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 Board of Directors and authorised for issue on 15 September 2022 and were signed on its behalf by:





Mr B Taylor - Director


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 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill is being amortised over the estimated useful life of 7 years.

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, 15% on reducing balance and at variable rates on reducing balance

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 8 (2021 - 10 ) .

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 212,186
AMORTISATION
At 1 May 2021 187,519
Charge for year 4,000
At 30 April 2022 191,519
NET BOOK VALUE
At 30 April 2022 20,667
At 30 April 2021 24,667

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2021 229,726
Additions 18,700
Disposals (9,750 )
At 30 April 2022 238,676
DEPRECIATION
At 1 May 2021 194,399
Charge for year 10,367
Eliminated on disposal (9,187 )
At 30 April 2022 195,579
NET BOOK VALUE
At 30 April 2022 43,097
At 30 April 2021 35,327

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 148,322 38,746
Amounts owed by group undertakings 128,190 92,190
Other debtors 66,250 6,250
342,762 137,186

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.22 30.4.21
£    £   
Trade creditors 31,538 52,149
Amounts owed to group undertakings 217,376 -
Tax 6,758 15,189
Social security and other taxes 4,608 2,027
VAT 13,559 5,818
Other creditors 1,254 6,516
Directors' current accounts 66,129 55,448
Accrued expenses 4,100 4,612
345,322 141,759

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.