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Company Registration No. 07299575 (England and Wales)
MFT Commercial Ltd Unaudited accounts for the period from 1 July 2022 to 31 March 2023
MFT Commercial Ltd Unaudited accounts Contents
Page
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MFT Commercial Ltd Company Information for the period from 1 July 2022 to 31 March 2023
Director
Mr Michael Fernyhough
Secretary
Mrs Gina Duckett
Company Number
07299575 (England and Wales)
Registered Office
Redhouse Industrial Estate Middlemore Lane Aldridge, Walsall West Midlands WS9 8DL England
Accountants
Beta Accounting Services Limited 6 Church Way Longdon Rugeley Staffordshire WS15 4PG
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MFT Commercial Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,575,383 
2,480,050 
Current assets
Debtors
339,839 
523,539 
Cash at bank and in hand
173,713 
145,146 
513,552 
668,685 
Creditors: amounts falling due within one year
(1,149,797)
(1,129,634)
Net current liabilities
(636,245)
(460,949)
Total assets less current liabilities
1,939,138 
2,019,101 
Creditors: amounts falling due after more than one year
(660,437)
(726,587)
Net assets
1,278,701 
1,292,514 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
1,278,691 
1,292,504 
Shareholders' funds
1,278,701 
1,292,514 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 October 2023 and were signed on its behalf by
Mr Michael Fernyhough Director Company Registration No. 07299575
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MFT Commercial Ltd Notes to the Accounts for the period from 1 July 2022 to 31 March 2023
1
Statutory information
MFT Commercial Ltd is a private company, limited by shares, registered in England and Wales, registration number 07299575. The registered office is Redhouse Industrial Estate, Middlemore Lane, Aldridge, Walsall, West Midlands, WS9 8DL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% pa reducing balance
Motor vehicles
20% pa reducing balance
Fixtures & fittings
20% pa reducing balance
Computer equipment
20% pa reducing balance
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 July 2022
945,965 
560,348 
2,498,525 
13,246 
16,719 
4,034,803 
Additions
- 
61,500 
462,040 
20,000 
- 
543,540 
Disposals
- 
- 
(140,750)
- 
- 
(140,750)
At 31 March 2023
945,965 
621,848 
2,819,815 
33,246 
16,719 
4,437,593 
Depreciation
At 1 July 2022
- 
373,209 
1,162,419 
7,264 
11,861 
1,554,753 
Charge for the period
- 
49,725 
351,223 
5,197 
973 
407,118 
On disposals
- 
- 
(99,661)
- 
- 
(99,661)
At 31 March 2023
- 
422,934 
1,413,981 
12,461 
12,834 
1,862,210 
Net book value
At 31 March 2023
945,965 
198,914 
1,405,834 
20,785 
3,885 
2,575,383 
At 30 June 2022
945,965 
187,139 
1,336,106 
5,982 
4,858 
2,480,050 
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MFT Commercial Ltd Notes to the Accounts for the period from 1 July 2022 to 31 March 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
337,236 
522,841 
Other debtors
2,603 
698 
339,839 
523,539 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
43,300 
68,898 
Obligations under finance leases and hire purchase contracts
384,132 
305,483 
Trade creditors
164,020 
161,706 
Taxes and social security
225,158 
255,952 
Other creditors
232,102 
214,024 
Loans from directors
98,085 
120,571 
Accruals
3,000 
3,000 
1,149,797 
1,129,634 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
355,788 
423,303 
Obligations under finance leases and hire purchase contracts
304,649 
302,691 
Other creditors
- 
593 
660,437 
726,587 
8
Average number of employees
During the period the average number of employees was 28 (2022: 29).
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