Company Registration No. 12748023 (England and Wales)
MAD CAD LTD
Unaudited accounts
for the year ended 31 July 2023
MAD CAD LTD
Unaudited accounts
Contents
MAD CAD LTD
Company Information
for the year ended 31 July 2023
Secretary
Ms Madiha Tauseen
Company Number
12748023 (England and Wales)
Registered Office
8 Potsford Road
Cawston
Rugby
CV22 7YY
Accountants
Atmos Bookkeeping Ltd
32 Aconbury Close
Worcester
WR5 1JD
MAD CAD LTD
Statement of financial position
as at 31 July 2023
Tangible assets
15,447
6,160
Cash at bank and in hand
12,693
7,556
Creditors: amounts falling due within one year
(14,562)
(11,350)
Net current assets
5,061
3,495
Called up share capital
2
2
Profit and loss account
20,506
9,653
Shareholders' funds
20,508
9,655
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 November 2023 and were signed on its behalf by
Mr Syed Ali
Director
Company Registration No. 12748023
MAD CAD LTD
Notes to the Accounts
for the year ended 31 July 2023
MAD CAD LTD is a private company, limited by shares, registered in England and Wales, registration number 12748023. The registered office is 8 Potsford Road, Cawston, Rugby, CV22 7YY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the provision of engineering design services is recognised in the period in which the services are provided.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Mixture of 25% and 50% straight line
Fixtures & fittings
33% straight line
Computer equipment
Mixture of 33% and 50% straight line
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Grants that impose specified future performance-related conditions are recognised in income when the performance-related conditions are met. Grants that do not impose specified future performance-related conditions are recognised in income when the grant proceeds are received or receivable. Grants received before the revenue recognition criteria are satisfied are recognised as liabilities.
Basic financial instruments, other than arrangements constituting financing transactions, are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method. Basic financial instruments classified as payable or receivable within one year are not amortised.
Arrangements constituting financing transactions are measured at the present value of the future payments or receipts discounted at a market rate of interest.
MAD CAD LTD
Notes to the Accounts
for the year ended 31 July 2023
The financial statements have been prepared on a going concern basis.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2022
7,202
520
1,556
9,278
Additions
14,925
385
856
16,166
At 31 July 2023
22,127
905
2,412
25,444
At 1 August 2022
1,895
221
1,002
3,118
Charge for the year
5,626
302
951
6,879
At 31 July 2023
7,521
523
1,953
9,997
At 31 July 2023
14,606
382
459
15,447
At 31 July 2022
5,307
299
554
6,160
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
8,469
6,291
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
8
Transactions with related parties
Amounts due to related parties:
At the reporting date, there were no amounts owed to key management personnel (2022: £0).
MAD CAD LTD
Notes to the Accounts
for the year ended 31 July 2023
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).