IRIS Accounts Production v23.3.0.418 05328923 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh053289232022-03-31053289232023-03-31053289232022-04-012023-03-31053289232021-03-31053289232021-04-012022-03-31053289232022-03-3105328923ns10:Originalns15:EnglandWales2022-04-012023-03-3105328923ns14:PoundSterlingns10:Original2022-04-012023-03-3105328923ns10:Originalns10:Director12022-04-012023-03-3105328923ns10:Original2022-04-012023-03-3105328923ns10:Original2023-03-3105328923ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3105328923ns10:Originalns10:SmallEntities2022-04-012023-03-3105328923ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3105328923ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3105328923ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3105328923ns10:Originalns10:FullAccounts2022-04-012023-03-3105328923ns10:Original12022-04-012023-03-3105328923ns10:Originalns10:OrdinaryShareClass12022-04-012023-03-3105328923ns10:Originalns10:Director22022-04-012023-03-3105328923ns10:Originalns10:RegisteredOffice2022-04-012023-03-3105328923ns10:Original2022-03-3105328923ns10:Originalns5:CurrentFinancialInstruments2023-03-3105328923ns10:Originalns5:CurrentFinancialInstruments2022-03-3105328923ns10:Originalns5:Non-currentFinancialInstruments2023-03-3105328923ns10:Originalns5:Non-currentFinancialInstruments2022-03-3105328923ns5:ShareCapitalns10:Original2023-03-3105328923ns5:ShareCapitalns10:Original2022-03-3105328923ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3105328923ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3105328923ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-04-012023-03-3105328923ns10:Originalns5:PlantMachinery2022-04-012023-03-3105328923ns10:Originalns5:MotorVehicles2022-04-012023-03-3105328923ns10:Originalns5:ComputerEquipment2022-04-012023-03-3105328923ns10:Original2021-04-012022-03-3105328923ns5:IntangibleAssetsOtherThanGoodwillns10:Original2023-03-3105328923ns10:Originalns5:PlantMachinery2022-03-3105328923ns10:Originalns5:MotorVehicles2022-03-3105328923ns10:Originalns5:ComputerEquipment2022-03-3105328923ns10:Original2022-03-3105328923ns10:Originalns5:PlantMachinery2023-03-3105328923ns10:Originalns5:MotorVehicles2023-03-3105328923ns10:Originalns5:ComputerEquipment2023-03-3105328923ns10:Originalns5:PlantMachinery2022-03-3105328923ns10:Originalns5:MotorVehicles2022-03-3105328923ns10:Originalns5:ComputerEquipment2022-03-3105328923ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3105328923ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3105328923ns10:Originalns10:OrdinaryShareClass12023-03-31
REGISTERED NUMBER: 05328923 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

MPS PAINTING CONTRACTORS LIMITED

MPS PAINTING CONTRACTORS LIMITED (REGISTERED NUMBER: 05328923)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MPS PAINTING CONTRACTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: M Sellick
E Sellick





REGISTERED OFFICE: 2 Manor Farm Court,
Old Wolverton Road,
Old Wolverton
Milton Keynes
Buckinghamshire
MK12 5NN





REGISTERED NUMBER: 05328923 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

MPS PAINTING CONTRACTORS LIMITED (REGISTERED NUMBER: 05328923)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 38,000 -
Tangible assets 5 72,535 46,511
110,535 46,511

CURRENT ASSETS
Debtors 6 1,101 20,787
Cash at bank 792,763 813,599
793,864 834,386
CREDITORS
Amounts falling due within one year 7 104,151 97,572
NET CURRENT ASSETS 689,713 736,814
TOTAL ASSETS LESS CURRENT
LIABILITIES

800,248

783,325

CREDITORS
Amounts falling due after more than one
year

8

33,428

34,167
NET ASSETS 766,820 749,158

CAPITAL AND RESERVES
Called up share capital 9 200 200
Retained earnings 766,620 748,958
SHAREHOLDERS' FUNDS 766,820 749,158

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MPS PAINTING CONTRACTORS LIMITED (REGISTERED NUMBER: 05328923)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by:





M Sellick - Director


MPS PAINTING CONTRACTORS LIMITED (REGISTERED NUMBER: 05328923)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

MPS Painting Contractors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Other intangible assets are being amortised evenly over their estimated useful life of twenty years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

MPS PAINTING CONTRACTORS LIMITED (REGISTERED NUMBER: 05328923)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

TAXATION
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

MPS PAINTING CONTRACTORS LIMITED (REGISTERED NUMBER: 05328923)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 40,000
At 31 March 2023 40,000
AMORTISATION
Charge for year 2,000
At 31 March 2023 2,000
NET BOOK VALUE
At 31 March 2023 38,000

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 55,748 48,550 1,953 106,251
Additions - 49,870 2,715 52,585
Disposals - (23,750 ) - (23,750 )
At 31 March 2023 55,748 74,670 4,668 135,086
DEPRECIATION
At 1 April 2022 30,519 27,900 1,321 59,740
Charge for year 6,307 7,156 295 13,758
Eliminated on disposal - (10,947 ) - (10,947 )
At 31 March 2023 36,826 24,109 1,616 62,551
NET BOOK VALUE
At 31 March 2023 18,922 50,561 3,052 72,535
At 31 March 2022 25,229 20,650 632 46,511

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 17,026
Other debtors 1,101 3,761
1,101 20,787

MPS PAINTING CONTRACTORS LIMITED (REGISTERED NUMBER: 05328923)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,333 8,333
Hire purchase contracts 5,557 2,316
Trade creditors 1,757 5,483
Taxation and social security 20,232 45,489
Other creditors 68,272 35,951
104,151 97,572

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 24,167 34,167
Hire purchase contracts 9,261 -
33,428 34,167

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200 Ordinary 1 200 200