Company Registration No. 11235161 (England and Wales)
M2 Construction (Staffs) Ltd
Unaudited accounts
for the year ended 29 February 2024
M2 Construction (Staffs) Ltd
Unaudited accounts
Contents
M2 Construction (Staffs) Ltd
Company Information
for the year ended 29 February 2024
Directors
H L Cutland
O A Hulme
P Fielding
P Rushton
Company Number
11235161 (England and Wales)
Registered Office
Unit 40a Brookhouse Road
Parkhouse Industrial Estate West
Newcastle-under-Lyme
Staffordshire
ST5 7RU
England
Accountants
Tyler Cobane Limited
29 Walton Way
Walton
Stone
Staffordshire
ST15 0JF
M2 Construction (Staffs) Ltd
Statement of financial position
as at 29 February 2024
Tangible assets
116,209
53,891
Inventories
183,414
122,640
Cash at bank and in hand
77,137
221,901
Creditors: amounts falling due within one year
(784,960)
(560,457)
Net current assets
372,764
174,695
Total assets less current liabilities
488,973
228,586
Creditors: amounts falling due after more than one year
(58,510)
(43,854)
Provisions for liabilities
Deferred tax
(22,080)
(10,240)
Net assets
408,383
174,492
Called up share capital
1
1
Profit and loss account
408,382
174,491
Shareholders' funds
408,383
174,492
For the year ending 29 February 2024 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 20 March 2024 and were signed on its behalf by
H L Cutland
Director
Company Registration No. 11235161
M2 Construction (Staffs) Ltd
Notes to the Accounts
for the year ended 29 February 2024
M2 Construction (Staffs) Ltd is a private company, limited by shares, registered in England and Wales, registration number 11235161. The registered office is Unit 40a Brookhouse Road, Parkhouse Industrial Estate West, Newcastle-under-Lyme, Staffordshire, ST5 7RU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
10% Reducing balance
Motor vehicles
25% Reducing balance
Fixtures & fittings
10% Reducing balance
Computer equipment
33% Reducing balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
M2 Construction (Staffs) Ltd
Notes to the Accounts
for the year ended 29 February 2024
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 March 2023
3,220
98,479
5,092
11,348
118,139
Additions
66,443
7,995
-
3,702
78,140
Disposals
-
-
-
(184)
(184)
At 29 February 2024
69,663
106,474
5,092
14,866
196,095
At 1 March 2023
1,288
53,509
1,031
8,420
64,248
Charge for the year
1,859
11,244
407
2,189
15,699
On disposals
-
-
-
(61)
(61)
At 29 February 2024
3,147
64,753
1,438
10,548
79,886
At 29 February 2024
66,516
41,721
3,654
4,318
116,209
At 28 February 2023
1,932
44,970
4,061
2,928
53,891
Amounts falling due within one year
Trade debtors
870,288
376,236
Other debtors
26,885
14,375
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
9,346
9,346
Obligations under finance leases and hire purchase contracts
32,090
13,912
Trade creditors
469,846
278,923
Taxes and social security
259,268
227,176
Other creditors
14,410
31,100
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
42,095
18,560
M2 Construction (Staffs) Ltd
Notes to the Accounts
for the year ended 29 February 2024
8
Deferred taxation
2024
2023
Accelerated capital allowances
22,080
10,240
Provision at start of year
10,240
13,571
Charged/(credited) to the profit and loss account
11,840
(3,331)
Provision at end of year
22,080
10,240
9
Average number of employees
During the year the average number of employees was 15 (2023: 16).