Silverfin false 31/05/2023 01/06/2022 31/05/2023 M F Reading 01/04/2004 S G Reading 04/01/2022 13 November 2023 The principal activity of the Company during the financial year was pipework contracting. 05090956 2023-05-31 05090956 bus:Director1 2023-05-31 05090956 bus:Director2 2023-05-31 05090956 2022-05-31 05090956 core:CurrentFinancialInstruments 2023-05-31 05090956 core:CurrentFinancialInstruments 2022-05-31 05090956 core:Non-currentFinancialInstruments 2023-05-31 05090956 core:Non-currentFinancialInstruments 2022-05-31 05090956 core:ShareCapital 2023-05-31 05090956 core:ShareCapital 2022-05-31 05090956 core:RetainedEarningsAccumulatedLosses 2023-05-31 05090956 core:RetainedEarningsAccumulatedLosses 2022-05-31 05090956 core:PlantMachinery 2022-05-31 05090956 core:Vehicles 2022-05-31 05090956 core:FurnitureFittings 2022-05-31 05090956 core:OfficeEquipment 2022-05-31 05090956 core:PlantMachinery 2023-05-31 05090956 core:Vehicles 2023-05-31 05090956 core:FurnitureFittings 2023-05-31 05090956 core:OfficeEquipment 2023-05-31 05090956 2022-06-01 2023-05-31 05090956 bus:FullAccounts 2022-06-01 2023-05-31 05090956 bus:SmallEntities 2022-06-01 2023-05-31 05090956 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 05090956 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 05090956 bus:Director1 2022-06-01 2023-05-31 05090956 bus:Director2 2022-06-01 2023-05-31 05090956 core:PlantMachinery 2022-06-01 2023-05-31 05090956 core:Vehicles 2022-06-01 2023-05-31 05090956 core:FurnitureFittings 2022-06-01 2023-05-31 05090956 core:OfficeEquipment core:TopRangeValue 2022-06-01 2023-05-31 05090956 2021-06-01 2022-05-31 05090956 core:OfficeEquipment 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Company No: 05090956 (England and Wales)

M F READING LIMITED

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

M F READING LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2023

Contents

M F READING LIMITED

BALANCE SHEET

As at 31 May 2023
M F READING LIMITED

BALANCE SHEET (continued)

As at 31 May 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 44,921 26,243
44,921 26,243
Current assets
Stocks 0 1,500
Debtors 4 147,585 103,710
Cash at bank and in hand 30,465 49,172
178,050 154,382
Creditors: amounts falling due within one year 5 ( 83,556) ( 88,960)
Net current assets 94,494 65,422
Total assets less current liabilities 139,415 91,665
Creditors: amounts falling due after more than one year 6 ( 34,025) ( 37,681)
Net assets 105,390 53,984
Capital and reserves
Called-up share capital 1 1
Profit and loss account 105,389 53,983
Total shareholder's funds 105,390 53,984

For the financial year ending 31 May 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 M F Reading Limited (registered number: 05090956) were approved and authorised for issue by the Board of Directors on 13 November 2023. They were signed on its behalf by:

M F Reading
Director
M F READING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
M F READING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 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

M F Reading Limited (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 Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is 3 Meadow Way Verwood BH31 6EP.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue from services is recognised as they are delivered.

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 Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 15 % reducing balance
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

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

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 June 2022 2,453 72,016 1,137 1,000 76,606
Additions 0 31,899 0 0 31,899
At 31 May 2023 2,453 103,915 1,137 1,000 108,505
Accumulated depreciation
At 01 June 2022 2,041 46,384 1,137 801 50,363
Charge for the financial year 103 13,054 0 64 13,221
At 31 May 2023 2,144 59,438 1,137 865 63,584
Net book value
At 31 May 2023 309 44,477 0 135 44,921
At 31 May 2022 412 25,632 0 199 26,243

4. Debtors

2023 2022
£ £
Trade debtors 125,138 74,549
VAT recoverable 22,447 17,515
Other debtors 0 11,646
147,585 103,710

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 9,114 9,000
Trade creditors 40,983 49,733
Amounts owed to directors 4,160 4,898
Accruals 2,200 2,179
Corporation tax 16,762 13,832
Other taxation and social security 969 0
Obligations under finance leases and hire purchase contracts 9,368 9,318
83,556 88,960

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

2023 2022
£ £
Other loans 20,886 31,000
Obligations under finance leases and hire purchase contracts 13,139 6,681
34,025 37,681