Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2022-04-01Land, building and engineering surveying9795 04674301 2022-04-01 2023-03-31 04674301 2021-04-01 2022-03-31 04674301 2023-03-31 04674301 2022-03-31 04674301 c:Director1 2022-04-01 2023-03-31 04674301 d:Buildings d:ShortLeaseholdAssets 2022-04-01 2023-03-31 04674301 d:Buildings d:ShortLeaseholdAssets 2023-03-31 04674301 d:Buildings d:ShortLeaseholdAssets 2022-03-31 04674301 d:PlantMachinery 2022-04-01 2023-03-31 04674301 d:PlantMachinery 2023-03-31 04674301 d:PlantMachinery 2022-03-31 04674301 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04674301 d:MotorVehicles 2022-04-01 2023-03-31 04674301 d:MotorVehicles 2023-03-31 04674301 d:MotorVehicles 2022-03-31 04674301 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04674301 d:ComputerEquipment 2022-04-01 2023-03-31 04674301 d:ComputerEquipment 2023-03-31 04674301 d:ComputerEquipment 2022-03-31 04674301 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04674301 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04674301 d:Goodwill 2022-04-01 2023-03-31 04674301 d:Goodwill 2023-03-31 04674301 d:Goodwill 2022-03-31 04674301 d:CurrentFinancialInstruments 2023-03-31 04674301 d:CurrentFinancialInstruments 2022-03-31 04674301 d:Non-currentFinancialInstruments 2023-03-31 04674301 d:Non-currentFinancialInstruments 2022-03-31 04674301 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04674301 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04674301 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04674301 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 04674301 d:ShareCapital 2023-03-31 04674301 d:ShareCapital 2022-03-31 04674301 d:SharePremium 2023-03-31 04674301 d:SharePremium 2022-03-31 04674301 d:CapitalRedemptionReserve 2023-03-31 04674301 d:CapitalRedemptionReserve 2022-03-31 04674301 d:RetainedEarningsAccumulatedLosses 2023-03-31 04674301 d:RetainedEarningsAccumulatedLosses 2022-03-31 04674301 c:OrdinaryShareClass1 2022-04-01 2023-03-31 04674301 c:OrdinaryShareClass1 2023-03-31 04674301 c:OrdinaryShareClass1 2022-03-31 04674301 c:OrdinaryShareClass2 2022-04-01 2023-03-31 04674301 c:OrdinaryShareClass2 2023-03-31 04674301 c:OrdinaryShareClass2 2022-03-31 04674301 c:FRS102 2022-04-01 2023-03-31 04674301 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04674301 c:FullAccounts 2022-04-01 2023-03-31 04674301 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04674301 d:WithinOneYear 2023-03-31 04674301 d:WithinOneYear 2022-03-31 04674301 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 04674301










MILTON KEYNES SURVEYS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
MILTON KEYNES SURVEYS LIMITED
REGISTERED NUMBER: 04674301

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,135,136
1,255,984

  
1,135,136
1,255,984

Current assets
  

Debtors: amounts falling due within one year
 6 
1,457,466
1,420,959

Cash at bank and in hand
 7 
2,935,717
2,288,004

  
4,393,183
3,708,963

Creditors: amounts falling due within one year
 8 
(1,040,904)
(1,109,923)

Net current assets
  
 
 
3,352,279
 
 
2,599,040

Total assets less current liabilities
  
4,487,415
3,855,024

Creditors: amounts falling due after more than one year
 9 
(203,518)
(201,343)

Provisions for liabilities
  

Deferred tax
  
(213,749)
(180,883)

  
 
 
(213,749)
 
 
(180,883)

Net assets
  
4,070,148
3,472,798


Capital and reserves
  

Called up share capital 
 10 
8,614
8,152

Share premium account
  
103,042
56,094

Capital redemption reserve
  
1,605
1,605

Profit and loss account
  
3,956,887
3,406,947

  
4,070,148
3,472,798


Page 1

 
MILTON KEYNES SURVEYS LIMITED
REGISTERED NUMBER: 04674301
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr S Dimond
Director

Date: 25 September 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
MILTON KEYNES SURVEYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Milton Keynes Surveys Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Potters Lane, Kiln Farm, Milton Keynes, Bucks, MK11 3LA.  The Company's functional and presentational currency is GBP. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
MILTON KEYNES SURVEYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss 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.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
MILTON KEYNES SURVEYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Short-term leasehold property
-
10% straight line
Plant and machinery
-
10/25% reducing balance
Motor vehicles
-
25% reducing balance
Computer equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
MILTON KEYNES SURVEYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 97 (2022 - 95).

Page 6

 
MILTON KEYNES SURVEYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
800,000



At 31 March 2023

800,000



Amortisation


At 1 April 2022
800,000



At 31 March 2023

800,000



Net book value



At 31 March 2023
-



At 31 March 2022
-



Page 7

 
MILTON KEYNES SURVEYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Leasehold improve-ments
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
151,591
2,432,999
488,372
320,841
3,393,803


Additions
20,246
82,721
141,728
17,101
261,796


Disposals
(1,555)
(128,741)
(10,831)
(59,255)
(200,382)



At 31 March 2023

170,282
2,386,979
619,269
278,687
3,455,217



Depreciation


At 1 April 2022
96,892
1,582,821
217,306
240,800
2,137,819


Charge for the year on owned assets
14,915
242,523
85,121
24,304
366,863


Disposals
(1,555)
(117,806)
(6,547)
(58,693)
(184,601)



At 31 March 2023

110,252
1,707,538
295,880
206,411
2,320,081



Net book value



At 31 March 2023
60,030
679,441
323,389
72,276
1,135,136



At 31 March 2022
54,699
850,178
271,066
80,041
1,255,984


6.


Debtors

2023
2022
£
£


Trade debtors
1,256,474
1,144,645

Other debtors
102,423
217,247

Prepayments and accrued income
98,569
59,067

1,457,466
1,420,959


Page 8

 
MILTON KEYNES SURVEYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
2,935,717
2,288,004

Less: bank overdrafts
-
(209,790)

2,935,717
2,078,214



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
209,790

Trade creditors
293,332
196,946

Corporation tax
138,519
4,674

Other taxation and social security
285,094
358,262

Obligations under finance lease and hire purchase contracts
172,508
198,747

Other creditors
53,828
45,513

Accruals and deferred income
97,623
95,991

1,040,904
1,109,923



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
203,518
201,343

203,518
201,343


The hire purchase agreements are secured on the assets concerned.

Page 9

 
MILTON KEYNES SURVEYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



7,600 (20227,600) Ordinary 'A' shares of £1.00 each
7,600
7,600
1,014 (2022 - 552) Ordinary 'B' shares of £1.00 each
1,014
552

8,614

8,152




11.


Pension commitments

The company had a pension liability of £17,885 outstanding at the year-end (2022: £17,358).


12.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Total
453,043
446,797

453,043
446,797

 
Page 10