Registered number
11843516
METALHOME CONSTRUCTION LTD
Filleted Accounts
28 February 2023
METALHOME CONSTRUCTION LTD
Registered number: 11843516
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 16,005 13,089
Current assets
Debtors 4 2,478 4,935
Cash at bank and in hand 12,089 22,764
14,567 27,699
Creditors: amounts falling due within one year 5 (10,227) (11,888)
Net current assets 4,340 15,811
Total assets less current liabilities 20,345 28,900
Creditors: amounts falling due after more than one year 6 (14,098) (21,142)
Provisions for liabilities (3,041) -
Net assets 3,206 7,758
Capital and reserves
Called up share capital 1 1
Profit and loss account 3,205 7,757
Shareholder's funds 3,206 7,758
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Zdzislaw Sebastian Baczek
Director
Approved by the board on 21 September 2023
METALHOME CONSTRUCTION LTD
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2022 17,500
Additions 6,999
At 28 February 2023 24,499
Depreciation
At 1 March 2022 4,411
Charge for the year 4,083
At 28 February 2023 8,494
Net book value
At 28 February 2023 16,005
At 28 February 2022 13,089
4 Debtors 2023 2022
£ £
Trade debtors 1,440 4,935
Other debtors, recoverable VAT 1,038 -
2,478 4,935
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,561 5,561
Obligations under finance lease and hire purchase contracts 2,724 2,724
Trade creditors 1,554 2,136
Taxation and social security costs 85 361
Other creditors 303 1,106
10,227 11,888
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 10,589 15,433
Obligations under finance lease and hire purchase contracts 3,509 5,709
14,098 21,142
7 Other information
METALHOME CONSTRUCTION LTD is a private company limited by shares and incorporated in England. Its registered office is:
45a Stanhope Park Road
Greenford
Middx
UB6 9LU
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