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REGISTERED NUMBER: 11041242 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 NOVEMBER 2023

FOR

MED BUILDERS LIMITED

MED BUILDERS LIMITED (REGISTERED NUMBER: 11041242)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 NOVEMBER 2023










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 6


MED BUILDERS LIMITED (REGISTERED NUMBER: 11041242)

STATEMENT OF FINANCIAL POSITION
29 NOVEMBER 2023

29.11.23 29.11.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 11,972 14,210

CURRENT ASSETS
Debtors 5 636 -
Cash at bank 1,703 11
2,339 11
CREDITORS
Amounts falling due within one year 6 (36,978 ) (9,194 )
NET CURRENT LIABILITIES (34,639 ) (9,183 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(22,667

)

5,027

CREDITORS
Amounts falling due after more than one
year

7

(8,721

)

(12,649

)

PROVISIONS FOR LIABILITIES (2,993 ) (2,700 )
NET LIABILITIES (34,381 ) (10,322 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (34,481 ) (10,422 )
(34,381 ) (10,322 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MED BUILDERS LIMITED (REGISTERED NUMBER: 11041242)

STATEMENT OF FINANCIAL POSITION - continued
29 NOVEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 July 2024 and were signed on its behalf by:





M E Dudley - Director


MED BUILDERS LIMITED (REGISTERED NUMBER: 11041242)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 NOVEMBER 2023


1. STATUTORY INFORMATION

MED BUILDERS LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11041242

Registered office: 2 Lake Croft Drive
Meir Heath
Stoke on Trent
Staffordshire
ST3 7SS

The principal activity of the company is that of a building company.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

GOING CONCERN
The financial statements have been prepared on the going concern basis which assumes that the company will continue to trade for the foreseeable future, and continue to receive the support from the company director.

REVENUE RECOGNITION
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% reducing balance
Motor vehicles - 25% reducing balance

MED BUILDERS LIMITED (REGISTERED NUMBER: 11041242)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

MED BUILDERS LIMITED (REGISTERED NUMBER: 11041242)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 NOVEMBER 2023


4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 30 November 2022
and 29 November 2023 29,327 540 873 30,740
DEPRECIATION
At 30 November 2022 16,082 412 36 16,530
Charge for year 1,987 32 219 2,238
At 29 November 2023 18,069 444 255 18,768
NET BOOK VALUE
At 29 November 2023 11,258 96 618 11,972
At 29 November 2022 13,245 128 837 14,210

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.11.23 29.11.22
£    £   
Prepayments 636 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.11.23 29.11.22
£    £   
Bank loans and overdrafts 4,000 4,000
Social security and other taxes 1,362 -
Other creditors 2,662 -
Directors' current accounts 27,243 2,567
Accrued expenses 1,711 2,627
36,978 9,194

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.11.23 29.11.22
£    £   
Bank loans - 1-2 years 4,000 4,000
Bank loans - 2-5 years 4,721 8,649
8,721 12,649

MED BUILDERS LIMITED (REGISTERED NUMBER: 11041242)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 NOVEMBER 2023


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 November 2023 and 29 November 2022:

29.11.23 29.11.22
£    £   
M E Dudley
Balance outstanding at start of year (2,567 ) 4,623
Amounts advanced 24,514 26,319
Amounts repaid (49,190 ) (33,509 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (27,243 ) (2,567 )

9. POST BALANCE SHEET EVENTS

There were no significant events up to the date of approval of the financial statements by the Board.

10. GOING CONCERN

The financial statements have been prepared on the going concern basis which assumes that the company will continue to trade for the foreseeable future, and continue to receive the support from the company director.