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Company Registration No. 07535093 (England and Wales)
MFD Communication Infrastructure Ltd Unaudited accounts for the year ended 31 July 2023
MFD Communication Infrastructure Ltd Unaudited accounts Contents
Page
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MFD Communication Infrastructure Ltd Company Information for the year ended 31 July 2023
Directors
Peter Briffett Nigel Proctor
Secretary
Nigel Proctor
Company Number
07535093 (England and Wales)
Registered Office
Highland House Mayflower Close Chandlers Ford, Eastleigh Hampshire SO53 4AR
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MFD Communication Infrastructure Ltd Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
24,300 
31,139 
Current assets
Debtors
188,035 
289,699 
Cash at bank and in hand
87,163 
95,281 
275,198 
384,980 
Creditors: amounts falling due within one year
(150,223)
(170,793)
Net current assets
124,975 
214,187 
Total assets less current liabilities
149,275 
245,326 
Creditors: amounts falling due after more than one year
- 
(12,099)
Provisions for liabilities
Deferred tax
(6,075)
(7,785)
Net assets
143,200 
225,442 
Capital and reserves
Called up share capital
120 
120 
Capital redemption reserve
120 
120 
Profit and loss account
142,960 
225,202 
Shareholders' funds
143,200 
225,442 
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 directors acknowledge their 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 of Directors and authorised for issue on 5 February 2024 and were signed on its behalf by
Peter Briffett Director Company Registration No. 07535093
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MFD Communication Infrastructure Ltd Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
MFD Communication Infrastructure Ltd is a private company, limited by shares, registered in England and Wales, registration number 07535093. The registered office is Highland House, Mayflower Close, Chandlers Ford, Eastleigh, Hampshire, SO53 4AR.
2
Compliance with accounting standards
These financial statements have been prepared in accordance with "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1. The financial statements have been prepared under the historic cost convention, modified to include certain financial instruments at fair value. The principle accounting policies are set out below.
3
Accounting policies
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.
Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due net of applicable taxes. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.
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
20% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Computer equipment
3 years Straight Line
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.
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MFD Communication Infrastructure Ltd Notes to the Accounts for the year ended 31 July 2023
Deferred taxation
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.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
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MFD Communication Infrastructure Ltd Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 August 2022
13,612 
27,052 
5,487 
25,285 
71,436 
Additions
- 
- 
428 
333 
761 
At 31 July 2023
13,612 
27,052 
5,915 
25,618 
72,197 
Depreciation
At 1 August 2022
5,008 
10,567 
2,179 
22,543 
40,297 
Charge for the year
1,721 
4,121 
523 
1,235 
7,600 
At 31 July 2023
6,729 
14,688 
2,702 
23,778 
47,897 
Net book value
At 31 July 2023
6,883 
12,364 
3,213 
1,840 
24,300 
At 31 July 2022
8,604 
16,485 
3,308 
2,742 
31,139 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
155,710 
252,098 
Accrued income and prepayments
8,857 
8,298 
Other debtors
23,468 
29,303 
188,035 
289,699 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
34,378 
54,985 
Obligations under finance leases and hire purchase contracts
12,557 
5,494 
Trade creditors
39,777 
28,506 
Taxes and social security
45,914 
71,223 
Other creditors
14,386 
3,744 
Accruals
3,211 
6,841 
150,223 
170,793 
The following secured debts are included in creditors above: Hire Purchase Contracts £12,557 (2022: £5,494) The hire purchase contracts are secured on the assets to which they relate.
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MFD Communication Infrastructure Ltd Notes to the Accounts for the year ended 31 July 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
- 
12,099 
The following secured debts are included in creditors above: Hire Purchase Contracts £nil (2022: £12,099) The hire purchase contracts are secured on the assets to which they relate.
8
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 July 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
28,236 
28,236 
Later than one year and not later than five years
- 
28,236 
28,236 
56,472 
9
Average number of employees
During the year the average number of employees was 7 (2022: 8).
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