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REGISTERED NUMBER: 10753685 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 May 2023

for

MNS Developments Limited

MNS Developments Limited (Registered number: 10753685)

Contents of the Financial Statements
for the Year Ended 29 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MNS Developments Limited

Company Information
for the Year Ended 29 May 2023







DIRECTOR: M Selby





REGISTERED OFFICE: 6 The Old Quarry
Nene Valley Business Park
Oundle
Peterborough
PE8 4HN





REGISTERED NUMBER: 10753685 (England and Wales)





ACCOUNTANTS: Mason & Co.
6 The Old Quarry
Nene Valley Business Park
Oundle
Peterborough
PE8 4HN

MNS Developments Limited (Registered number: 10753685)

Balance Sheet
29 May 2023

29.5.23 29.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,600,970 1,215,558
Investment property 5 215,000 215,000
1,815,970 1,430,558

CURRENT ASSETS
Stocks 169,106 120,135
Debtors 6 935,998 732,537
Cash at bank 26,937 49,972
1,132,041 902,644
CREDITORS
Amounts falling due within one year 7 1,606,979 1,195,030
NET CURRENT LIABILITIES (474,938 ) (292,386 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,341,032

1,138,172

CREDITORS
Amounts falling due after more than one
year

8

(1,195,413

)

(1,002,314

)

PROVISIONS FOR LIABILITIES (52,573 ) (82,385 )
NET ASSETS 93,046 53,473

CAPITAL AND RESERVES
Called up share capital 200 200
Revaluation reserve 9 47,775 47,775
Retained earnings 45,071 5,498
93,046 53,473

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MNS Developments Limited (Registered number: 10753685)

Balance Sheet - continued
29 May 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2023 and were signed by:





M Selby - Director


MNS Developments Limited (Registered number: 10753685)

Notes to the Financial Statements
for the Year Ended 29 May 2023


1. STATUTORY INFORMATION

MNS Developments 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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Current or deferred 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

MNS Developments Limited (Registered number: 10753685)

Notes to the Financial Statements - continued
for the Year Ended 29 May 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 30 May 2022 1,448,454
Additions 735,663
Disposals (244,493 )
At 29 May 2023 1,939,624
DEPRECIATION
At 30 May 2022 232,896
Charge for year 183,325
Eliminated on disposal (77,567 )
At 29 May 2023 338,654
NET BOOK VALUE
At 29 May 2023 1,600,970
At 29 May 2022 1,215,558

MNS Developments Limited (Registered number: 10753685)

Notes to the Financial Statements - continued
for the Year Ended 29 May 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 30 May 2022 1,303,909
Additions 702,013
Disposals (203,743 )
At 29 May 2023 1,802,179
DEPRECIATION
At 30 May 2022 192,147
Charge for year 167,963
Eliminated on disposal (60,841 )
At 29 May 2023 299,269
NET BOOK VALUE
At 29 May 2023 1,502,910
At 29 May 2022 1,111,762

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 May 2022
and 29 May 2023 215,000
NET BOOK VALUE
At 29 May 2023 215,000
At 29 May 2022 215,000

Fair value at 29 May 2023 is represented by:
£   
Valuation in 2022 215,000

If the investment property had not been revalued it would have been included at the following historical cost:

29.5.23 29.5.22
£    £   
Cost 167,225 167,225

The investment property was valued on an open market basis on 24 January 2023 by professional valuers .

MNS Developments Limited (Registered number: 10753685)

Notes to the Financial Statements - continued
for the Year Ended 29 May 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.5.23 29.5.22
£    £   
Trade debtors 689,978 461,033
Other debtors 246,020 271,504
935,998 732,537

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.5.23 29.5.22
£    £   
Bank loans and overdrafts 118,651 118,651
Hire purchase contracts 388,523 371,792
Payments on account 5,040 4,045
Trade creditors 425,811 356,917
Taxation and social security 110,595 25,454
Other creditors 558,359 318,171
1,606,979 1,195,030

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.5.23 29.5.22
£    £   
Bank loans 383,369 454,464
Hire purchase contracts 812,044 547,850
1,195,413 1,002,314

9. RESERVES
Revaluation
reserve
£   
At 30 May 2022
and 29 May 2023 47,775

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £50,000 were paid to the directors .

Mr M Selby, a director, has been loaned monies by the company. At the period end an amount of £160,715 was owed (2022 - £186,703).

11. ULTIMATE CONTROLLING PARTY

The controlling party is M Selby.