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MAH Construction & Development Limited

Registration number : 11025983



















Annual Report and Unaudited Financial Statements

for the year ended 31 October 2023

 

MAH Construction & Development Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 14

 

MAH Construction & Development Limited

Company Information

Director

Mr Michael Harry Heyes

Registered office

Maghull Business Centre
1 Liverpool Road North
Maghull
Merseyside
L31 2HB

Accountants

McParland Williams Limited
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

 

MAH Construction & Development Limited

Director's Report for the year ended 31 October 2023

The director presents his report and the financial statements for the year ended 31 October 2023.

Director of the company

The director who held office during the year was as follows:

Mr Michael Harry Heyes

Principal activity

The principal activity of the company is that of construction.

Small companies provision statement

This report has 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.

Approved by the director on 25 July 2024 and signed on its behalf by:

.........................................
Mr Michael Harry Heyes
Director

   
     
 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of MAH Construction & Development Limited
for the year ended 31 October 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MAH Construction & Development Limited for the year ended 31 October 2023 as set out on pages 4 to 14 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of MAH Construction & Development Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of MAH Construction & Development Limited and state those matters that we have agreed to state to the Board of Directors of MAH Construction & Development Limited. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MAH Construction & Development Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that MAH Construction & Development Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of MAH Construction & Development Limited. You consider that MAH Construction & Development Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of MAH Construction & Development Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

image-name

McParland Williams Limited
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

25 July 2024

 

MAH Construction & Development Limited

Profit and Loss Account for the year ended 31 October 2023

Note

2023
£

2022
£

Turnover

 

864,858

855,667

Cost of sales

 

(611,344)

(631,810)

Gross profit

 

253,514

223,857

Administrative expenses

 

(42,320)

(35,463)

Other operating income

 

100

150

Operating profit

 

211,294

188,544

Other interest receivable and similar income

 

840

568

Interest payable and similar expenses

 

(1,897)

(1,618)

 

(1,057)

(1,050)

Profit before tax

210,237

187,494

Taxation

4

(47,116)

(37,668)

Profit for the financial year

 

163,121

149,826

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

MAH Construction & Development Limited

Statement of Comprehensive Income for the Year Ended 31 October 2023

2023
£

2022
£

Profit for the year

163,121

149,826

Total comprehensive income for the year

163,121

149,826

 

MAH Construction & Development Limited

(Registration number: 11025983)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

6,802

7,005

Current assets

 

Stocks and work-in-progress

6

38,196

29,759

Debtors

7

123,154

56,747

Cash at bank and in hand

 

6,296

66,425

 

167,646

152,931

Creditors: Amounts falling due within one year

8

(128,003)

(105,955)

Net current assets

 

39,643

46,976

Total assets less current liabilities

 

46,445

53,981

Creditors: Amounts falling due after more than one year

8

(35,199)

(40,087)

Provisions for liabilities

(1,562)

(1,331)

Net assets

 

9,684

12,563

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

9,682

12,561

Total equity

 

9,684

12,563

For the financial year ending 31 October 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.

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.

Approved and authorised by the director on 25 July 2024
 

.........................................
Mr Michael Harry Heyes
Director

   
     
 

MAH Construction & Development Limited

Statement of Changes in Equity for the Year Ended 31 October 2023

Share capital
£

Retained earnings
£

Total
£

At 1 November 2022

2

12,561

12,563

Profit for the year

-

163,121

163,121

Dividends

-

(166,000)

(166,000)

At 31 October 2023

2

9,682

9,684

Share capital
£

Retained earnings
£

Total
£

At 1 November 2021

2

18,235

18,237

Profit for the year

-

149,826

149,826

Dividends

-

(155,500)

(155,500)

At 31 October 2022

2

12,561

12,563

 

MAH Construction & Development Limited

Notes to the Unaudited Financial Statements for the year ended 31 October 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:
Maghull Business Centre
1 Liverpool Road North
Maghull
Merseyside
L31 2HB

These financial statements were authorised for issue by the director on 25 July 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 and deferred 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.

 

MAH Construction & Development Limited

Notes to the Unaudited Financial Statements for the year ended 31 October 2023

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

Motor Vehicles

25% reducing balance

Office equipment

33% reducing balance

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.

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.

 

MAH Construction & Development Limited

Notes to the Unaudited Financial Statements for the year ended 31 October 2023

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.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Taxation

Tax charged/(credited) in the income statement

 

MAH Construction & Development Limited

Notes to the Unaudited Financial Statements for the year ended 31 October 2023

2023
 £

2022
 £

Current taxation

UK corporation tax

46,886

36,338

Deferred taxation

Arising from origination and reversal of timing differences

230

1,330

Tax expense in the income statement

47,116

37,668

 

MAH Construction & Development Limited

Notes to the Unaudited Financial Statements for the year ended 31 October 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2022

2,140

13,306

1,080

16,526

Additions

1,209

-

1,060

2,269

At 31 October 2023

3,349

13,306

2,140

18,795

Depreciation

At 1 November 2022

1,428

7,620

473

9,521

Charge for the year

634

1,421

417

2,472

At 31 October 2023

2,062

9,041

890

11,993

Carrying amount

At 31 October 2023

1,287

4,265

1,250

6,802

At 31 October 2022

712

5,686

607

7,005

6

Stocks and work-in-progress

2023
£

2022
£

Work in progress

38,196

29,759

7

Debtors

Note

2023
£

2022
£

Trade debtors

 

76,416

44,196

Amounts owed by related parties

10

34,910

1,624

Other debtors

 

11,828

10,927

 

123,154

56,747

 

MAH Construction & Development Limited

Notes to the Unaudited Financial Statements for the year ended 31 October 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

11

7,975

8,053

Trade creditors

 

15,128

8,965

Taxation and social security

 

93,364

62,741

Accruals and deferred income

 

6,200

5,830

Other creditors

 

5,336

20,366

 

128,003

105,955

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11

35,199

40,087

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

Ordinary A of £1 each

1

1

1

1

 

2

2

2

2

10

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

9,100

8,989

 

MAH Construction & Development Limited

Notes to the Unaudited Financial Statements for the year ended 31 October 2023

11

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

33,333

36,574

Hire purchase contracts

1,496

3,491

Other borrowings

370

22

35,199

40,087

2023
£

2022
£

Current loans and borrowings

Bank borrowings

5,555

5,556

Hire purchase contracts

1,995

1,995

Other borrowings

425

502

7,975

8,053