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Registration number: 01649084

M.P.H. (North Wales) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

M.P.H. (North Wales) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

M.P.H. (North Wales) Limited

Company Information

Director

G Gaunt

Registered office

Bromfield House
Queens Lane
Bromfield Industrial Estate
Mold
Flintshire
CH7 1XB

Accountants

Harris Kafton Limited
Chartered Accountants
42-46 Station Road
Edgware
Middlesex
HA8 7AB

 

M.P.H. (North Wales) Limited

(Registration number: 01649084)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

2,525,497

2,525,497

Current assets

 

Debtors

5

123,867

54,773

Cash at bank and in hand

 

63,569

1,722

 

187,436

56,495

Creditors: Amounts falling due within one year

6

(2,672,073)

(2,559,800)

Net current liabilities

 

(2,484,637)

(2,503,305)

Net assets

 

40,860

22,192

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

39,860

21,192

Shareholders' funds

 

40,860

22,192

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

M.P.H. (North Wales) Limited

(Registration number: 01649084)
Balance Sheet as at 30 September 2023

These financial statements have been prepared and delivered 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 18 April 2024
 

.........................................
G Gaunt
Director

   
     
 

M.P.H. (North Wales) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
Bromfield House
Queens Lane
Bromfield Industrial Estate
Mold
Flintshire
CH7 1XB
United Kingdom

These financial statements were authorised for issue by the director on 18 April 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.

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.

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.

 

M.P.H. (North Wales) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

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

Motor vehicles

25% on reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

M.P.H. (North Wales) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 4).

4

Investment properties

2023
£

At 1 October

2,525,497

At 30 September

2,525,497

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2023
£

2022
£

Trade debtors

115,127

44,716

Prepayments

4,404

9,632

Other debtors

4,336

425

 

123,867

54,773

 

M.P.H. (North Wales) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

10,609

(9,431)

Taxation and social security

 

6,867

32,379

Other creditors

 

2,403,075

2,310,477

Accrued expenses

 

4,782

4,250

Corporation tax payable

 

35,023

6,600

Directors current account

 

211,717

215,525

 

2,672,073

2,559,800

Creditors: amounts falling due after more than one year

2023
£

2022
£

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

         

8

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £100.00 (2022 - £100.00) per ordinary share

 

100,000

 

100,000