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REGISTERED NUMBER: 12092390 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

M W BRACE CONSTRUCTION LTD

M W BRACE CONSTRUCTION LTD (REGISTERED NUMBER: 12092390)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M W BRACE CONSTRUCTION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 July 2023







DIRECTOR: M Brace





REGISTERED OFFICE: Old Pastures Passfield Road
Passfield
Liphook
Hampshire
GU30 7RU





REGISTERED NUMBER: 12092390 (England and Wales)





ACCOUNTANTS: Traviss & Co Ltd
Chartered Certified Accountants
Newtown House
38 Newtown Road
Liphook
Hampshire
GU30 7DX

M W BRACE CONSTRUCTION LTD (REGISTERED NUMBER: 12092390)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,436 3,096

CURRENT ASSETS
Stocks 46,750 51,242
Debtors 5 23,773 15,408
Cash at bank 2,511 3,480
73,034 70,130
CREDITORS
Amounts falling due within one year 6 47,380 39,355
NET CURRENT ASSETS 25,654 30,775
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,090

33,871

CREDITORS
Amounts falling due after more than one year 7 34,130 40,212
NET LIABILITIES (6,040 ) (6,341 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (6,140 ) (6,441 )
(6,040 ) (6,341 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

M W BRACE CONSTRUCTION LTD (REGISTERED NUMBER: 12092390)

BALANCE SHEET - continued
31 July 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 5 March 2024 and were signed by:





M Brace - Director


M W BRACE CONSTRUCTION LTD (REGISTERED NUMBER: 12092390)

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


1. STATUTORY INFORMATION

M W Brace Construction Ltd 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.

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 - 20% on cost
Motor vehicles - 15% on cost
Computer equipment - 25% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

M W BRACE CONSTRUCTION LTD (REGISTERED NUMBER: 12092390)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2022 666 4,550 - 5,216
Additions - - 208 208
At 31 July 2023 666 4,550 208 5,424
DEPRECIATION
At 1 August 2022 300 1,820 - 2,120
Charge for year 133 683 52 868
At 31 July 2023 433 2,503 52 2,988
NET BOOK VALUE
At 31 July 2023 233 2,047 156 2,436
At 31 July 2022 366 2,730 - 3,096

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 21,138 12,311
Other debtors 2,635 3,097
23,773 15,408

M W BRACE CONSTRUCTION LTD (REGISTERED NUMBER: 12092390)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13,125 7,042
Trade creditors 16,863 11,300
Taxation and social security 15,678 20,806
Other creditors 1,714 207
47,380 39,355

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 34,130 40,212