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Registered number: 12213363
MDK Contracts Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2023
Pinnacle Accountancy Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12213363
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 306 408
306 408
CURRENT ASSETS
Debtors 5 11,327 5,616
Cash at bank and in hand 547 206
11,874 5,822
Creditors: Amounts Falling Due Within One Year 6 (11,615 ) (5,168 )
NET CURRENT ASSETS (LIABILITIES) 259 654
TOTAL ASSETS LESS CURRENT LIABILITIES 565 1,062
NET ASSETS 565 1,062
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 564 1,061
SHAREHOLDERS' FUNDS 565 1,062
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For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Matthew Kenmure
Director
21/06/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
MDK Contracts Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12213363 . The registered office is 21 Brize Norton Road, Carterton, Oxfordshire, OX18 3HW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.

The financial statements have been prepared on a going concern basis even though at the balance sheet date the company had net (liabilities) amounting to (£2,420) and incurred a net profit after tax of £5,602.
The directors have concluded that a material uncertainly exists that cast’s significant doubt
upon the company's ability to continue as a going concern and that, therefore, the company
may be unable to realise its assets and discharge its liabilities in the normal course of
business.

However, the shareholders have expressed their willingness to provide financial support for
the next 12 months as from the date of approval of the financial statements in order for the
company to meet its current liabilities, therefore the directors continue to adopt the going
concern basis of accounting.

2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% on reducing balance
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Motor Vehicles
£
Cost
As at 1 October 2022 790
As at 30 September 2023 790
Depreciation
As at 1 October 2022 382
Provided during the period 102
As at 30 September 2023 484
Net Book Value
As at 30 September 2023 306
As at 1 October 2022 408
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 8,685 5,226
CIS Recoverable 2,641 389
Called up share capital not paid 1 1
11,327 5,616
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors (1 ) -
Corporation tax 5,080 2,146
VAT 5,255 2,004
Accruals and deferred income 679 590
Director's loan account 602 428
11,615 5,168
7. Share Capital
2023 2022
£ £
Called Up Share Capital not Paid 1 1
Amount of Allotted, Called Up Share Capital 1 1
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