Silverfin false false 31/08/2023 01/09/2022 31/08/2023 N Forsyth 11/12/2022 D Murphy 03/08/2021 18 October 2023 The principal activity of the Company during the financial year was that of the development of building projects. 13545627 2023-08-31 13545627 bus:Director1 2023-08-31 13545627 bus:Director2 2023-08-31 13545627 2022-08-31 13545627 core:CurrentFinancialInstruments 2023-08-31 13545627 core:CurrentFinancialInstruments 2022-08-31 13545627 core:Non-currentFinancialInstruments 2023-08-31 13545627 core:Non-currentFinancialInstruments 2022-08-31 13545627 core:ShareCapital 2023-08-31 13545627 core:ShareCapital 2022-08-31 13545627 core:RetainedEarningsAccumulatedLosses 2023-08-31 13545627 core:RetainedEarningsAccumulatedLosses 2022-08-31 13545627 core:CurrentFinancialInstruments 1 2023-08-31 13545627 core:CurrentFinancialInstruments 1 2022-08-31 13545627 core:MoreThanFiveYears 2023-08-31 13545627 core:MoreThanFiveYears 2022-08-31 13545627 bus:OrdinaryShareClass1 2023-08-31 13545627 2022-09-01 2023-08-31 13545627 bus:FilletedAccounts 2022-09-01 2023-08-31 13545627 bus:SmallEntities 2022-09-01 2023-08-31 13545627 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 13545627 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 13545627 bus:Director1 2022-09-01 2023-08-31 13545627 bus:Director2 2022-09-01 2023-08-31 13545627 2021-09-01 2022-08-31 13545627 core:Non-currentFinancialInstruments 2022-09-01 2023-08-31 13545627 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 13545627 bus:OrdinaryShareClass1 2021-09-01 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13545627 (England and Wales)

MF DESIGN & BUILD LTD

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

MF DESIGN & BUILD LTD

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

MF DESIGN & BUILD LTD

STATEMENT OF FINANCIAL POSITION

As at 31 August 2023
MF DESIGN & BUILD LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 250,000 0
250,000 0
Current assets
Debtors 4 41,672 0
Cash at bank and in hand 60,684 2
102,356 2
Creditors: amounts falling due within one year 5 ( 196,057) 0
Net current (liabilities)/assets (93,701) 2
Total assets less current liabilities 156,299 2
Creditors: amounts falling due after more than one year 6 ( 128,333) 0
Net assets 27,966 2
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 27,964 0
Total shareholders' funds 27,966 2

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of MF Design & Build Ltd (registered number: 13545627) were approved and authorised for issue by the Director on 18 October 2023. They were signed on its behalf by:

N Forsyth
Director
MF DESIGN & BUILD LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
MF DESIGN & BUILD LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

MF Design & Build Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Belvoir Lodge, Upper Oldfield Park, Bath, BA2 3JX, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 September 2022 0
Additions 338,794
Fair value movement 57,351
Government grant received (146,145)
As at 31 August 2023 250,000

Valuation

The investment properties were valued by the director at the year end on an open market and existing use basis.

Historic cost

If the investment properties had been accounted for cost accounting rules, the properties would have been measured as follows:

2023 2022
£ £
Historic cost 150,000 0

4. Debtors

2023 2022
£ £
Other debtors 41,672 0

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to directors 75,999 0
Other loans 11,667 0
Accruals 22,559 0
Deferred tax liability 9,833 0
Other creditors 75,999 0
196,057 0

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other loans 128,333 0

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2023 2022
£ £
Other loans (repayable by instalments) 66,111 0

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Related party transactions

At the year end the Company owed £76,000 (2022: £Nil) to a director. The balance is interest free and there is no fixed date for repayment.

At the year end the Company owed £76,000 (2022: £Nil) to a shareholder. The balance is interest free and there is no fixed date for repayment.

At the year end the Company loaned £30,000 to a connected party. The balance is interest free and there is no fixed date for repayment.