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MPPH Ltd

Annual Report and Unaudited Financial Statements

for the Period from 16 March 2022 to 31 March 2023

Registration number: 13980652

 

MPPH Ltd

Contents

Statement of financial position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

MPPH Ltd

(Registration number: 13980652)
Statement of financial position as at 31 March 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

23,527

Current assets

 

Debtors

5

9,170

Cash at bank and in hand

 

19,706

 

28,876

Creditors: Amounts falling due within one year

6

(35,818)

Net current liabilities

 

(6,942)

Total assets less current liabilities

 

16,585

Creditors: Amounts falling due after more than one year

6

(5,338)

Provisions for liabilities

(4,470)

Net assets

 

6,777

Capital and reserves

 

Called up share capital

7

100

Retained earnings

6,677

Shareholders' funds

 

6,777

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

MPPH Ltd

(Registration number: 13980652)
Statement of financial position as at 31 March 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.

Approved and authorised by the Board on 26 May 2023 and signed on its behalf by:
 

.........................................
Mr M S Peskett
Director

 

MPPH Ltd

Notes to the Unaudited Financial Statements
for the Period from 16 March 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the Board on 26 May 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

 

MPPH Ltd

Notes to the Unaudited Financial Statements
for the Period from 16 March 2022 to 31 March 2023

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

33% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

MPPH Ltd

Notes to the Unaudited Financial Statements
for the Period from 16 March 2022 to 31 March 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

Additions

30,392

30,392

Disposals

(6,200)

(6,200)

At 31 March 2023

24,192

24,192

Depreciation

Charge for the period

665

665

At 31 March 2023

665

665

Carrying amount

At 31 March 2023

23,527

23,527

 

MPPH Ltd

Notes to the Unaudited Financial Statements
for the Period from 16 March 2022 to 31 March 2023

5

Debtors

Current

2023
£

Trade debtors

6,614

Other debtors

2,556

 

9,170

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

8

2,495

Trade creditors

 

12,628

Taxation and social security

 

6,434

Accruals and deferred income

 

1,500

Other creditors

 

12,761

 

35,818

Creditors: amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

8

5,338

 

MPPH Ltd

Notes to the Unaudited Financial Statements
for the Period from 16 March 2022 to 31 March 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary of £1 each

100

100

     

8

Loans and borrowings

2023
£

Non-current loans and borrowings

Bank borrowings

5,338

2023
£

Current loans and borrowings

Bank borrowings

2,495