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Registration number: 08148897

MPD Hospitality No2 Ltd

trading as Ufford Crown P.H.

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

MPD Hospitality No2 Ltd

trading as Ufford Crown P.H.

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

MPD Hospitality No2 Ltd

trading as Ufford Crown P.H.

Company Information

Directors

Mr M N Durrant

Mrs P J Durrant

Registered office

1st Floor
143 Connaught Avenue
Frinton on Sea
Essex
CO13 9AB

Accountants

The Pub Experts Ltd
1st Floor
143 Connaught Avenue
Frinton-On-Sea
Essex
CO13 9AB

 

MPD Hospitality No2 Ltd

trading as Ufford Crown P.H.

(Registration number: 08148897)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

23,720

26,355

Current assets

 

Stocks

5

13,166

10,968

Cash at bank and in hand

 

112,690

103,260

 

125,856

114,228

Creditors: Amounts falling due within one year

6

(69,660)

(77,846)

Net current assets

 

56,196

36,382

Total assets less current liabilities

 

79,916

62,737

Creditors: Amounts falling due after more than one year

6

(39,497)

(28,099)

Net assets

 

40,419

34,638

Capital and reserves

 

Called up share capital

2

2

Retained earnings

40,417

34,636

Shareholders' funds

 

40,419

34,638

 

MPD Hospitality No2 Ltd

trading as Ufford Crown P.H.

(Registration number: 08148897)
Balance Sheet as at 31 July 2023

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 March 2024 and signed on its behalf by:
 

.........................................
Mr M N Durrant
Director

.........................................
Mrs P J Durrant
Director

 
     
 

MPD Hospitality No2 Ltd

trading as Ufford Crown P.H.

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor
143 Connaught Avenue
Frinton on Sea
Essex
CO13 9AB
England

These financial statements were authorised for issue by the Board on 6 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

MPD Hospitality No2 Ltd

trading as Ufford Crown P.H.

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% Reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

MPD Hospitality No2 Ltd

trading as Ufford Crown P.H.

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2022 - 16).

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 August 2022

47,977

47,977

At 31 July 2023

47,977

47,977

Depreciation

At 1 August 2022

21,622

21,622

Charge for the year

2,635

2,635

At 31 July 2023

24,257

24,257

Carrying amount

At 31 July 2023

23,720

23,720

At 31 July 2022

26,355

26,355

There is a charge over the company delivered 21st May 2013 from National Westminster Bank PLC that remains outstanding at year end.

5

Stocks

2023
£

2022
£

Finished goods and goods for resale

13,166

10,968

 

MPD Hospitality No2 Ltd

trading as Ufford Crown P.H.

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9,499

10,648

Trade creditors

 

29,108

39,433

Taxation and social security

 

26,872

22,484

Other creditors

 

4,181

5,281

 

69,660

77,846

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

39,497

28,099