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MDO Pipefitting Solutions Limited
Registered Number:12000918
For the year ended 31 May 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 May 2023
MDO Pipefitting Solutions Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
12000918
As at 31 May 2023
MDO Pipefitting Solutions Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
82,905
23,083
2
82,905
23,083
Current assets
Inventories
40,000
40,000
3
Trade and other receivables
125,460
114,963
4
4,811
Cash and cash equivalents
687
155,650
170,271
Trade and other payables: amounts falling due within one year
(53,496)
(51,902)
5
116,775
103,748
Net current assets
Total assets less current liabilities
186,653
139,858
186,653
Net assets
139,858
Capital and reserves
Called up share capital
100
2
Retained earnings
186,553
139,856
186,653
139,858
Shareholders' funds
For the year ended 31 May 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 of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Matthew Dean Ormerod Director
Mr Lee Cleaver Director
These financial statements were approved and authorised for issue by the Board on 14 February 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 May 2023
MDO Pipefitting Solutions Limited
Notes to the Financial Statements
Statutory Information
MDO Pipefitting Solutions Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number
12000918.
Registered address:
21 Peony Crescent
Sittingbourne
United Kingdom
ME10 4RB
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 ''The
Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The financial statements have
been prepared under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery
25% Reducing balance
25% Reducing balance
Computer Equipment
25% Reducing balance
Motor Vehicles
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
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5
For the year ended 31 May 2023
MDO Pipefitting Solutions Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
Equipment
Motor Vehicles
Plant and
Machinery
£
£
£
£
Cost or valuation
At 01 June 2022
51,579
2,664
15,890
33,025
94,168
-
85,258
8,910
Additions
-
(15,890)
-
Disposals
(15,890)
At 31 May 2023
41,935
85,258
2,664
129,857
Provision for depreciation and impairment
At 01 June 2022
28,496
1,283
9,187
18,026
Charge for year
27,643
346
21,315
5,982
(9,187)
-
(9,187)
-
On disposal
At 31 May 2023
46,952
1,629
21,315
24,008
At 31 May 2023
Net book value
17,927
63,943
1,035
82,905
At 31 May 2022
14,999
6,703
1,381
23,083
3. Inventories
2022
2023
£
£
Stocks
40,000
40,000
4. Trade and other receivables
2022
2023
£
£
Trade debtors
91,944
106,137
Other debtors
23,019
19,323
125,460
114,963
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
11,707
1,413
Taxation and social security
38,504
49,111
Other creditors
1,691
2,972
51,902
53,496
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6
For the year ended 31 May 2023
MDO Pipefitting Solutions Limited
Notes to the Financial Statements Continued
6. Average number of persons employed
During the year the average number of employees was 0 (2022 : 4)
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