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30/04/2023
2023-04-30
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No description of principal activities is disclosed
2022-05-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
08994482
2022-05-01
2023-04-30
08994482
2023-04-30
08994482
2022-04-30
08994482
2021-05-01
2022-04-30
08994482
2022-04-30
08994482
2021-04-30
08994482
core:PlantMachinery
2022-05-01
2023-04-30
08994482
core:FurnitureFittingsToolsEquipment
2022-05-01
2023-04-30
08994482
core:MotorVehicles
2022-05-01
2023-04-30
08994482
bus:RegisteredOffice
2022-05-01
2023-04-30
08994482
bus:Director1
2022-05-01
2023-04-30
08994482
bus:Director2
2022-05-01
2023-04-30
08994482
core:WithinOneYear
2023-04-30
08994482
core:WithinOneYear
2022-04-30
08994482
core:PlantMachinery
2022-04-30
08994482
core:FurnitureFittingsToolsEquipment
2022-04-30
08994482
core:MotorVehicles
2022-04-30
08994482
core:PlantMachinery
2023-04-30
08994482
core:FurnitureFittingsToolsEquipment
2023-04-30
08994482
core:MotorVehicles
2023-04-30
08994482
core:AfterOneYear
2023-04-30
08994482
core:AfterOneYear
2022-04-30
08994482
core:RetainedEarningsAccumulatedLosses
2021-05-01
2022-04-30
08994482
core:RetainedEarningsAccumulatedLosses
2022-05-01
2023-04-30
08994482
core:ShareCapital
2023-04-30
08994482
core:ShareCapital
2022-04-30
08994482
core:RetainedEarningsAccumulatedLosses
2023-04-30
08994482
core:RetainedEarningsAccumulatedLosses
2022-04-30
08994482
core:ShareCapital
2021-04-30
08994482
core:RetainedEarningsAccumulatedLosses
2021-04-30
08994482
core:CostValuation
core:Non-currentFinancialInstruments
2022-04-30
08994482
core:CostValuation
core:Non-currentFinancialInstruments
2023-04-30
08994482
core:Non-currentFinancialInstruments
2023-04-30
08994482
core:Non-currentFinancialInstruments
2022-04-30
08994482
core:PlantMachinery
2022-04-30
08994482
core:FurnitureFittingsToolsEquipment
2022-04-30
08994482
core:MotorVehicles
2022-04-30
08994482
bus:Director1
2022-04-30
08994482
bus:Director1
2023-04-30
08994482
bus:Director2
2022-04-30
08994482
bus:Director2
2023-04-30
08994482
bus:Director1
2021-04-30
08994482
bus:Director1
2022-04-30
08994482
bus:Director2
2021-04-30
08994482
bus:Director2
2022-04-30
08994482
bus:Director1
2021-05-01
2022-04-30
08994482
bus:Director2
2021-05-01
2022-04-30
08994482
bus:SmallEntities
2022-05-01
2023-04-30
08994482
bus:AuditExempt-NoAccountantsReport
2022-05-01
2023-04-30
08994482
bus:FullAccounts
2022-05-01
2023-04-30
08994482
bus:SmallCompaniesRegimeForAccounts
2022-05-01
2023-04-30
08994482
bus:PrivateLimitedCompanyLtd
2022-05-01
2023-04-30
Company registration number:
08994482
MDF CONSTRUCTION LIMITED
Unaudited filleted financial statements
30 April 2023
MDF CONSTRUCTION LIMITED
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
MDF CONSTRUCTION LIMITED
Directors and other information
|
|
|
|
Directors |
M Fasola |
|
|
D Fasola |
|
|
|
|
|
|
|
Company number |
08994482 |
|
|
|
|
|
|
|
Registered office |
65 Gaddesden Crescent |
|
|
Watford |
|
|
Herts |
|
|
WD25 9QU |
|
|
|
MDF CONSTRUCTION LIMITED
Statement of financial position
30 April 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
4 |
150,034 |
|
|
|
182,597 |
|
|
Investments |
|
5 |
328,062 |
|
|
|
305,089 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
478,096 |
|
|
|
487,686 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
6 |
772,224 |
|
|
|
680,596 |
|
|
Cash at bank and in hand |
|
|
303,013 |
|
|
|
199,018 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
1,075,237 |
|
|
|
879,614 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
394,416) |
|
|
|
(
396,969) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
680,821 |
|
|
|
482,645 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
1,158,917 |
|
|
|
970,331 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
9 |
|
|
(
23,283) |
|
|
|
(
32,981) |
Accruals and deferred income |
|
|
|
|
(
6,366) |
|
|
|
(
5,762) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
1,129,268 |
|
|
|
931,588 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
100 |
|
|
|
100 |
Profit and loss account |
|
|
|
|
1,129,168 |
|
|
|
931,488 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
1,129,268 |
|
|
|
931,588 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
11 September 2023
, and are signed on behalf of the board by:
M Fasola
Director
Company registration number:
08994482
MDF CONSTRUCTION LIMITED
Statement of changes in equity
Year ended 30 April 2023
|
|
Called up share capital |
|
Profit and loss account |
Total |
|
|
|
|
|
|
|
£ |
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 May 2021 |
|
100 |
|
974,987 |
975,087 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) for the year |
|
|
|
(
263,080) |
(
263,080) |
|
|
|
|
|
Other comprehensive income for the year: |
|
|
|
|
|
|
|
|
|
|
Reclassification from fair value reserve to profit and loss account |
|
|
|
371,581 |
371,581 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
108,501 |
108,501 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable |
|
|
|
(
152,000) |
(
152,000) |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total investments by and distributions to owners |
|
- |
|
(
152,000) |
(
152,000) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
At 30 April 2022 and 1 May 2022 |
|
100 |
|
585,732
|
585,832
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) for the year |
|
|
|
349,680 |
349,680 |
|
|
|
|
|
Other comprehensive income for the year: |
|
|
|
|
|
|
|
|
|
|
Reclassification from fair value reserve to profit and loss account |
|
|
|
345,756 |
345,756 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
695,436 |
695,436 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable |
|
|
|
(
152,000) |
(
152,000) |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total investments by and distributions to owners |
|
- |
|
(
152,000) |
(
152,000) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
At 30 April 2023 |
|
100 |
|
1,129,168 |
1,129,268 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MDF CONSTRUCTION LIMITED
Notes to the financial statements
Year ended 30 April 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 65 Gaddesden Crescent, Watford, Herts, WD25 9QU.
2.
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ('FRS 102') and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a fair view. The financial statements are prepared in Sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery |
- |
25 % |
straight line |
|
Fittings fixtures and equipment |
- |
25 % |
straight line |
|
Motor vehicles |
- |
25 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
3.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2022:
4
).
4.
Tangible assets
|
|
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 May 2022 |
744,793 |
6,188 |
89,378 |
840,359 |
|
|
|
|
Additions |
174,383 |
2,957 |
- |
177,340 |
|
|
|
|
Disposals |
(
159,994) |
- |
- |
(
159,994) |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 30 April 2023 |
759,182 |
9,145 |
89,378 |
857,705 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 May 2022 |
582,581 |
4,624 |
70,557 |
657,762 |
|
|
|
|
Charge for the year |
109,095 |
1,521 |
11,341 |
121,957 |
|
|
|
|
Disposals |
(
72,048) |
- |
- |
(
72,048) |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 30 April 2023 |
619,628 |
6,145 |
81,898 |
707,671 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 30 April 2023 |
139,554 |
3,000 |
7,480 |
150,034 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 30 April 2022 |
162,212 |
1,564 |
18,821 |
182,597 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
5.
Investments
|
|
Shares in group undertakings and participating interests |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 May 2022 |
305,089 |
305,089 |
|
|
|
|
|
Fair value adjustment |
22,973 |
22,973 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 30 April 2023 |
328,062 |
328,062 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Impairment |
|
|
|
|
|
|
|
At 1 May 2022 and 30 April 2023 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 30 April 2023 |
328,062 |
328,062 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 30 April 2022 |
305,089 |
305,089 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
76,657 |
20,938 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
528,414 |
528,414 |
|
Other debtors |
|
167,153 |
131,244 |
|
|
|
_______ |
_______ |
|
|
|
772,224 |
680,596 |
|
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amounts owed by group undertakings relates to Dami Prod Com, a company incorporated in Romania which is a wholly owned subsidiary. |
|
|
|
|
Included in other debtors is amount £98,830 owed by Dami Prod Com, a company incorporated in Romania which is a wholly owned subsiidiary.
7.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
9,583 |
9,583 |
|
Accruals and deferred income |
|
6,366 |
5,762 |
|
Corporation tax |
|
86,989 |
43,321 |
|
Social security and other taxes |
|
1,820 |
- |
|
Other creditors |
|
296,024 |
344,065 |
|
|
|
_______ |
_______ |
|
|
|
394,416 |
396,969 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Other creditors
Included in other creditors is amount of £291,817 (2022: £337,163) owed to the directors at the year end. This loan is interest free.
9.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
23,283 |
32,981 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
M Fasola |
(
91,560) |
13,937 |
(
77,623) |
|
|
|
|
D Fasola |
(
245,603) |
31,409 |
(
214,194) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
(
337,163) |
45,346 |
(
291,817) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
M Fasola |
(
80,348) |
(
11,212) |
(
91,560) |
|
|
|
|
D Fasola |
(
203,961) |
(
41,642) |
(
245,603) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
(
284,309) |
(
52,854) |
(
337,163) |
|
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