Caseware UK (AP4) 2022.0.179 2022.0.179 2false2022-04-01falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04215592 2022-04-01 2023-03-31 04215592 2021-04-01 2022-03-31 04215592 2023-03-31 04215592 2022-03-31 04215592 c:Director1 2022-04-01 2023-03-31 04215592 d:Buildings 2022-04-01 2023-03-31 04215592 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 04215592 d:Buildings d:LongLeaseholdAssets 2023-03-31 04215592 d:Buildings d:LongLeaseholdAssets 2022-03-31 04215592 d:Buildings d:ShortLeaseholdAssets 2022-04-01 2023-03-31 04215592 d:Buildings d:ShortLeaseholdAssets 2023-03-31 04215592 d:Buildings d:ShortLeaseholdAssets 2022-03-31 04215592 d:FurnitureFittings 2022-04-01 2023-03-31 04215592 d:FurnitureFittings 2023-03-31 04215592 d:FurnitureFittings 2022-03-31 04215592 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04215592 d:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 04215592 d:OtherPropertyPlantEquipment 2023-03-31 04215592 d:OtherPropertyPlantEquipment 2022-03-31 04215592 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04215592 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04215592 d:Goodwill 2023-03-31 04215592 d:Goodwill 2022-03-31 04215592 d:CurrentFinancialInstruments 2023-03-31 04215592 d:CurrentFinancialInstruments 2022-03-31 04215592 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04215592 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04215592 d:ShareCapital 2023-03-31 04215592 d:ShareCapital 2022-03-31 04215592 d:RetainedEarningsAccumulatedLosses 2023-03-31 04215592 d:RetainedEarningsAccumulatedLosses 2022-03-31 04215592 c:FRS102 2022-04-01 2023-03-31 04215592 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04215592 c:FullAccounts 2022-04-01 2023-03-31 04215592 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 04215592










MD FINANCIAL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

For the Year Ended 31 March 2023

 
MD FINANCIAL LIMITED
Registered number: 04215592

BALANCE SHEET
As at 31 March 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
303
357

  
303
357

Current assets
  

Debtors: amounts falling due within one year
 6 
40,202
46,943

Cash at bank and in hand
 7 
1,813
5,417

  
42,015
52,360

Creditors: amounts falling due within one year
 8 
(25,675)
(3,914)

Net current assets
  
 
 
16,340
 
 
48,446

Total assets less current liabilities
  
16,643
48,803

  

Net assets
  
16,643
48,803


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
16,543
48,703

  
16,643
48,803


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 income and retained earnings 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: 




................................................
D Healey
Director

Page 1

 
MD FINANCIAL LIMITED
Registered number: 04215592

BALANCE SHEET (CONTINUED)
As at 31 March 2023

Date: 29 August 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
MD FINANCIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2023

1.


General information

MD Financial Limited is a private company limited by shares, registered in the United Kingdom number 04215592. Its registered office is Manor House, 35 St Thomas's Road, Chorley, PR7 1HP.

During the year, the principal activity of the company continued to be that of Fund Management.

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

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.

 
2.4

Taxation

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 balance sheet date in the countries where the Company operates and generates income.

Page 3

 
MD FINANCIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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, on a reducing balance basis and straight line basis.

Depreciation is provided on the following basis:

Freehold property
-
2% Straight Line
S/Term Leasehold Property
-
10% Straight Line
Fixtures & fittings
-
15% Reducing Balance
Other fixed assets
-
33% Straight Line

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
MD FINANCIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
31,502



At 31 March 2023

31,502



Amortisation


At 1 April 2022
31,502



At 31 March 2023

31,502



Net book value



At 31 March 2023
-



At 31 March 2022
-



Page 5

 
MD FINANCIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2023

5.


Tangible fixed assets





L/Term Leasehold Property
S/Term Leasehold Property
Fixtures & fittings
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
1,070
3,487
6,817
1,990
13,364



At 31 March 2023

1,070
3,487
6,817
1,990
13,364



Depreciation


At 1 April 2022
1,070
3,487
6,461
1,990
13,008


Charge for the year on owned assets
-
-
53
-
53



At 31 March 2023

1,070
3,487
6,514
1,990
13,061



Net book value



At 31 March 2023
-
-
303
-
303



At 31 March 2022
-
-
357
-
357


6.


Debtors

2023
2022
£
£


Other debtors
40,202
46,943

40,202
46,943



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,813
5,418

1,813
5,418


Page 6

 
MD FINANCIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
7,715
32,953

Other creditors
16,220
(30,539)

Accruals and deferred income
1,740
1,500

25,675
3,914



Page 7