Company Registration No. 08258902 (England and Wales)
Mark Pike Groundworks Ltd
Unaudited accounts
for the year ended 31 March 2024
Mark Pike Groundworks Ltd
Unaudited accounts
Contents
Mark Pike Groundworks Ltd
Company Information
for the year ended 31 March 2024
Directors
Mr Mark I E Pike
Mrs Katrina J Pike
Company Number
08258902 (England and Wales)
Registered Office
Oakleigh Cottage Ammerham
Winsham
Chard
Somerset
TA20 4LE
Accountants
ST Accountancy Ltd
8 Clappentail Park
Lyme Regis
Dorset
DT7 3NB
Mark Pike Groundworks Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
167,810
228,188
Cash at bank and in hand
7,289
-
Creditors: amounts falling due within one year
(91,286)
(84,157)
Net current liabilities
(56,721)
(64,139)
Total assets less current liabilities
111,089
164,049
Creditors: amounts falling due after more than one year
(50,087)
(120,994)
Provisions for liabilities
Deferred tax
(31,884)
(42,358)
Called up share capital
100
100
Profit and loss account
29,018
597
Shareholders' funds
29,118
697
For the year ending 31 March 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 1 August 2024 and were signed on its behalf by
Mr Mark I E Pike
Director
Company Registration No. 08258902
Mark Pike Groundworks Ltd
Notes to the Accounts
for the year ended 31 March 2024
Mark Pike Groundworks Ltd is a private company, limited by shares, registered in England and Wales, registration number 08258902. The registered office is Oakleigh Cottage Ammerham, Winsham, Chard, Somerset, TA20 4LE.
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.
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.
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, has been amortised evenly over its estimated useful life of five years.
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:
Land & buildings
10% reducing balance
Plant & machinery
15% reducing balance
Motor vehicles
20% reducing balance
Computer equipment
20% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
Mark Pike Groundworks Ltd
Notes to the Accounts
for the year ended 31 March 2024
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
10,979
342,890
24,450
3,075
381,394
Additions
-
9,900
-
-
9,900
Disposals
-
(60,500)
-
-
(60,500)
At 31 March 2024
10,979
292,290
24,450
3,075
330,794
At 1 April 2023
5,728
138,258
6,610
2,610
153,206
Charge for the year
525
25,659
3,568
93
29,845
On disposals
-
(20,067)
-
-
(20,067)
At 31 March 2024
6,253
143,850
10,178
2,703
162,984
At 31 March 2024
4,726
148,440
14,272
372
167,810
At 31 March 2023
5,251
204,632
17,840
465
228,188
Amounts falling due within one year
Trade debtors
18,455
9,535
Accrued income and prepayments
6,052
6,357
Mark Pike Groundworks Ltd
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
9,497
17,160
Obligations under finance leases and hire purchase contracts
24,736
30,804
Trade creditors
27,234
19,064
Taxes and social security
24,658
10,853
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
16,494
57,113
Loans from directors
25,031
48,176
9
Deferred taxation
2024
2023
Accelerated capital allowances
31,884
42,358
Provision at start of year
42,358
50,853
Credited to the profit and loss account
(10,474)
(8,495)
Provision at end of year
31,884
42,358
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).