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REGISTERED NUMBER: 01254426 (England and Wales)



















MARK DOUGLAS INDUSTRIAL
SUPPLIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






MARK DOUGLAS INDUSTRIAL
SUPPLIES LIMITED (REGISTERED NUMBER: 01254426)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


MARK DOUGLAS INDUSTRIAL
SUPPLIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr A M Sheldrick
Mr M W Sheldrick





SECRETARY: Mr A M Sheldrick





REGISTERED OFFICE: MD Distribution Centre
Acton Road
Long Eaton
Nottingham
NG10 1FR





REGISTERED NUMBER: 01254426 (England and Wales)





ACCOUNTANTS: Johnson Tidsall Limited
Chartered Accountants
81 Burton Road
Derby
Derbyshire
DE1 1TJ

MARK DOUGLAS INDUSTRIAL
SUPPLIES LIMITED (REGISTERED NUMBER: 01254426)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 289,295 243,745
289,295 243,745

CURRENT ASSETS
Stocks 291,578 353,057
Debtors 6 123,525 165,386
Cash at bank and in hand 273,927 268,464
689,030 786,907
CREDITORS
Amounts falling due within one year 7 111,232 163,800
NET CURRENT ASSETS 577,798 623,107
TOTAL ASSETS LESS CURRENT LIABILITIES 867,093 866,852

PROVISIONS FOR LIABILITIES 9,519 14,245
NET ASSETS 857,574 852,607

CAPITAL AND RESERVES
Called up share capital 8 400 400
Retained earnings 857,174 852,207
SHAREHOLDERS' FUNDS 857,574 852,607

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

MARK DOUGLAS INDUSTRIAL
SUPPLIES LIMITED (REGISTERED NUMBER: 01254426)

BALANCE SHEET - continued
31 DECEMBER 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 6 August 2024 and were signed on its behalf by:





Mr A M Sheldrick - Director


MARK DOUGLAS INDUSTRIAL
SUPPLIES LIMITED (REGISTERED NUMBER: 01254426)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Mark Douglas Industrial Supplies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been amortised evenly over its estimated useful life of eight years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost or deemed cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


MARK DOUGLAS INDUSTRIAL
SUPPLIES LIMITED (REGISTERED NUMBER: 01254426)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 175,000
AMORTISATION
At 1 January 2023
and 31 December 2023 175,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

MARK DOUGLAS INDUSTRIAL
SUPPLIES LIMITED (REGISTERED NUMBER: 01254426)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 201,180 30,927 141,119
Additions 43,872 - -
At 31 December 2023 245,052 30,927 141,119
DEPRECIATION
At 1 January 2023 47,049 21,315 132,461
Charge for year 3,243 1,442 1,299
At 31 December 2023 50,292 22,757 133,760
NET BOOK VALUE
At 31 December 2023 194,760 8,170 7,359
At 31 December 2022 154,131 9,612 8,658

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 272,662 4,824 650,712
Additions 33,999 - 77,871
At 31 December 2023 306,661 4,824 728,583
DEPRECIATION
At 1 January 2023 201,318 4,824 406,967
Charge for year 26,337 - 32,321
At 31 December 2023 227,655 4,824 439,288
NET BOOK VALUE
At 31 December 2023 79,006 - 289,295
At 31 December 2022 71,344 - 243,745

Included in cost of land and buildings is freehold land of £ 75,000 (2022 - £ 75,000 ) which is not depreciated.

MARK DOUGLAS INDUSTRIAL
SUPPLIES LIMITED (REGISTERED NUMBER: 01254426)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 102,323 145,402
Directors' current accounts 7,750 9,550
Corporation tax 2,768 2,768
Prepayments and accrued income 10,684 7,666
123,525 165,386

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 60,801 113,520
Corporation tax 576 2,768
Social security and other taxes 6,631 6,717
VAT 36,357 24,570
Other creditors 730 681
Accruals and deferred income 6,137 15,544
111,232 163,800

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
400 Ordinary £1 400 400

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr M W Sheldrick
Balance outstanding at start of year 9,550 -
Amounts advanced - 10,000
Amounts repaid (1,800 ) (450 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,750 9,550