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Registration number: 14178419

MDT Inspection Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

MDT Inspection Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

MDT Inspection Ltd

Company Information

Director

Mr M D Taylor

Registered office

157 Brownedge Road
Lostock Hall
Preston
PR5 5AH

Accountants

Cameron Alexander Accountants Limited
Chartered Certified Accountants
2 Western Street
Barnsley
S70 2BP

 

MDT Inspection Ltd

(Registration number: 14178419)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

817

856

Current assets

 

Debtors

4

2,175

-

Cash at bank and in hand

 

17,486

26,326

 

19,661

26,326

Creditors: Amounts falling due within one year

5

(10,170)

(19,563)

Net current assets

 

9,491

6,763

Total assets less current liabilities

 

10,308

7,619

Provisions for liabilities

(122)

(163)

Net assets

 

10,186

7,456

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

10,185

7,455

Shareholders' funds

 

10,186

7,456

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 August 2024
 

.........................................
Mr M D Taylor
Director

 

MDT Inspection Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

MDT Inspection Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

-25% reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

MDT Inspection Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

990

990

Additions

183

183

At 30 April 2024

1,173

1,173

Depreciation

At 1 May 2023

134

134

Charge for the year

222

222

At 30 April 2024

356

356

Carrying amount

At 30 April 2024

817

817

At 30 April 2023

856

856

4

Debtors

Current

2024
£

2023
£

Other debtors

2,175

-

 

2,175

-

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

118

-

Taxation and social security

4,590

642

Other creditors

5,462

18,921

10,170

19,563

 

MDT Inspection Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

7

Related party transactions

Transactions with the director

2024

At 1 May 2023
£

Advances to director
£

At 30 April 2024
£

Mr M D Taylor

No interest is charged on the loan and there is no fixed date of repayment

10,096

(9,252)

844

2023

At 16 June 2022
£

Repayments by director
£

At 30 April 2023
£

Mr M D Taylor

No interest is charged on the loan and there is no fixed date of repayment

-

10,096

10,096