IRIS Accounts Production v23.3.1.45 NI613048 director 1.7.22 30.6.23 30.6.23 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI6130482022-06-30NI6130482023-06-30NI6130482022-07-012023-06-30NI6130482021-06-30NI6130482021-07-012022-06-30NI6130482022-06-30NI613048ns10:Originalns15:NorthernIreland2022-07-012023-06-30NI613048ns14:PoundSterlingns10:Original2022-07-012023-06-30NI613048ns10:Originalns10:Director12022-07-012023-06-30NI613048ns10:Original2022-07-012023-06-30NI613048ns10:Original2023-06-30NI613048ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-30NI613048ns10:Originalns10:SmallEntities2022-07-012023-06-30NI613048ns10:Originalns10:AuditExempt-NoAccountantsReport2022-07-012023-06-30NI613048ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-30NI613048ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-30NI613048ns10:Originalns10:FullAccounts2022-07-012023-06-30NI613048ns10:Original2021-07-012022-06-30NI613048ns10:Originalns10:RegisteredOffice2022-07-012023-06-30NI613048ns10:Original2022-06-30NI613048ns10:Originalns5:CurrentFinancialInstruments2023-06-30NI613048ns10:Originalns5:CurrentFinancialInstruments2022-06-30NI613048ns10:Originalns5:Non-currentFinancialInstruments2023-06-30NI613048ns10:Originalns5:Non-currentFinancialInstruments2022-06-30NI613048ns5:ShareCapitalns10:Original2023-06-30NI613048ns5:ShareCapitalns10:Original2022-06-30NI613048ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-30NI613048ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-30NI613048ns10:Originalns5:PlantMachinery2022-07-012023-06-30NI613048ns10:Originalns5:PlantMachinery2022-06-30NI613048ns10:Originalns5:PlantMachinery2023-06-30NI613048ns10:Originalns5:PlantMachinery2022-06-30NI613048ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-30NI613048ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-30NI613048ns10:Originalns5:CurrentFinancialInstruments2022-07-012023-06-30
REGISTERED NUMBER: NI613048 (Northern Ireland)















MD RENEWABLES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023






MD RENEWABLES LIMITED (REGISTERED NUMBER: NI613048)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MD RENEWABLES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: Mark McCrory





REGISTERED OFFICE: 71 Bernisk Road
Sixmilecross
Co. Tyrone
BT79 9ED





REGISTERED NUMBER: NI613048 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

MD RENEWABLES LIMITED (REGISTERED NUMBER: NI613048)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £ £
NON-CURRENT ASSETS
Tangible assets 5 383,037 450,981

CURRENT ASSETS
Receivables: amounts falling due within
one year

6

884,488

692,762
Cash at bank 104,583 119,564
989,071 812,326
PAYABLES
Amounts falling due within one year 7 (116,778 ) (148,606 )
NET CURRENT ASSETS 872,293 663,720
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,255,330

1,114,701

PAYABLES
Amounts falling due after more than
one year

8

(518,396

)

(566,607

)

PROVISIONS FOR LIABILITIES (19,497 ) (19,497 )
NET ASSETS 717,437 528,597

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 717,436 528,596
717,437 528,597

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 June 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.

MD RENEWABLES LIMITED (REGISTERED NUMBER: NI613048)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 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 15 December 2023 and were signed by:





Mark McCrory - Director


MD RENEWABLES LIMITED (REGISTERED NUMBER: NI613048)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

MD Renewables Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

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

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% reducing balance

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

4. EMPLOYEES AND DIRECTORS

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

MD RENEWABLES LIMITED (REGISTERED NUMBER: NI613048)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
£
COST
At 1 July 2022
and 30 June 2023 901,540
DEPRECIATION
At 1 July 2022 450,559
Charge for year 67,944
At 30 June 2023 518,503
NET BOOK VALUE
At 30 June 2023 383,037
At 30 June 2022 450,981

6. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade receivables 122,893 120,952
Amounts owed by group undertakings 761,595 571,810
884,488 692,762

7. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 78,170 108,129
Trade payables 5,048 2,130
Taxation and social security 28,639 30,426
Other payables 4,921 7,921
116,778 148,606

Obligations under hire purchase agreements are secured by the company against the assets to which they relate.

8. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2023 2022
£ £
Bank loans 518,396 566,607