Registered number
12336067
MD Building & Renovation Solutions Ltd
Filleted Accounts
30 November 2023
MD Building & Renovation Solutions Ltd
Registered number: 12336067
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 16,046 16,737
Current assets
Debtors 4 28,954 9,014
Cash at bank and in hand 1,131 8,884
30,085 17,898
Creditors: amounts falling due within one year 5 (22,186) (7,388)
Net current assets 7,899 10,510
Total assets less current liabilities 23,945 27,247
Creditors: amounts falling due after more than one year 6 (23,874) (27,216)
Net assets 71 31
Capital and reserves
Called up share capital 2 2
Profit and loss account 69 29
Shareholders' funds 71 31
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Cave
Director
Approved by the board on 11.07.2024
MD Building & Renovation Solutions Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 - 26,672 26,672
Additions 1,085 3,500 4,585
At 30 November 2023 1,085 30,172 31,257
Depreciation
At 1 December 2022 - 9,935 9,935
Charge for the year 217 5,059 5,276
At 30 November 2023 217 14,994 15,211
Net book value
At 30 November 2023 868 15,178 16,046
At 30 November 2022 - 16,737 16,737
4 Debtors 2023 2022
£ £
Trade debtors 10,150 5,089
Other debtors 18,804 3,925
28,954 9,014
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 16,657 -
Taxation and social security costs 4,479 3,451
Other creditors 1,050 3,937
22,186 7,388
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 23,874 27,216
7 Other information
MD Building & Renovation Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Flat 34
Old Arts College
Newport
South Wales
NP19 0LY
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