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
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
MFT Commercial Ltd
Statement of financial position
as at 31 March 2023
Tangible assets
2,575,383
2,480,050
Cash at bank and in hand
173,713
145,146
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
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
MFT Commercial Ltd
Notes to the Accounts
for the period from 1 July 2022 to 31 March 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
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
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
MFT Commercial Ltd
Notes to the Accounts
for the period from 1 July 2022 to 31 March 2023
Amounts falling due within one year
Trade debtors
337,236
522,841
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
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
8
Average number of employees
During the period the average number of employees was 28 (2022: 29).