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REGISTERED NUMBER: 05265778 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MD TAPP BUILDERS LIMITED

MD TAPP BUILDERS LIMITED (REGISTERED NUMBER: 05265778)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MD TAPP BUILDERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr M D Tapp



REGISTERED OFFICE: 13 Cadwell Road
Paignton
TQ3 2SX



REGISTERED NUMBER: 05265778 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: HSBC Bank Plc
7 Palace Avenue
Paignton
Devon
TQ3 3ED

MD TAPP BUILDERS LIMITED (REGISTERED NUMBER: 05265778)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 136,444 128,691
136,444 128,691

CURRENT ASSETS
Debtors 6 74,585 56,122
Cash at bank 302,695 293,821
377,280 349,943
CREDITORS
Amounts falling due within one year 7 58,827 62,007
NET CURRENT ASSETS 318,453 287,936
TOTAL ASSETS LESS CURRENT LIABILITIES 454,897 416,627

CREDITORS
Amounts falling due after more than one
year

8

(14,814

)

(24,963

)

PROVISIONS FOR LIABILITIES (7,366 ) (3,692 )
NET ASSETS 432,717 387,972

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 432,707 387,962
SHAREHOLDERS' FUNDS 432,717 387,972

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MD TAPP BUILDERS LIMITED (REGISTERED NUMBER: 05265778)

BALANCE SHEET - continued
31 MARCH 2024


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 director and authorised for issue on 31 July 2024 and were signed by:





Mr M D Tapp - Director


MD TAPP BUILDERS LIMITED (REGISTERED NUMBER: 05265778)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

MD Tapp Builders 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 2004, is being amortised evenly over its estimated useful life of five 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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MD TAPP BUILDERS LIMITED (REGISTERED NUMBER: 05265778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

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 4 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 34,000
AMORTISATION
At 1 April 2023
and 31 March 2024 34,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 113,809 12,632 71,225 197,666
Additions - 188 19,500 19,688
Disposals - - (29,645 ) (29,645 )
At 31 March 2024 113,809 12,820 61,080 187,709
DEPRECIATION
At 1 April 2023 4,552 10,386 54,037 68,975
Charge for year 2,276 487 9,172 11,935
Eliminated on disposal - - (29,645 ) (29,645 )
At 31 March 2024 6,828 10,873 33,564 51,265
NET BOOK VALUE
At 31 March 2024 106,981 1,947 27,516 136,444
At 31 March 2023 109,257 2,246 17,188 128,691

MD TAPP BUILDERS LIMITED (REGISTERED NUMBER: 05265778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,981 283
Amounts recoverable on contract 50,403 54,639
Other debtors - 1,200
Directors' current accounts 9,201 -
74,585 56,122

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,149 9,894
Trade creditors 11,834 16,683
Tax 11,270 11,739
Social security and other taxes 4,060 1,851
VAT 19,274 17,177
Other creditors 2,040 504
Directors' current accounts - 2,342
Accrued expenses 200 1,817
58,827 62,007

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 14,814 24,963

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr M D Tapp
Balance outstanding at start of year (2,342 ) (159 )
Amounts advanced 28,786 27,637
Amounts repaid (17,243 ) (29,820 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,201 (2,342 )

Loans are unsecured, interest free and repayable on demand.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £4,700 were paid to the director .

Mr M D Tapp, a director of the company, lived at 14a Cadwell Road, a property owned by the company. Mr M D Tapp paid no rent during the year.