Registered number
12526928
M5 External Cleaning & Resin Driveways Ltd
Filleted Accounts
31 December 2023
M5 External Cleaning & Resin Driveways Ltd
Registered number: 12526928
Balance Sheet
as at 31 December 2023
Notes 31/12/23 31/5/23
£ £
Fixed assets
Tangible assets 3 13,086 13,664
Current assets
Debtors 4 10,955 8,376
Cash at bank and in hand 305 1,957
11,260 10,333
Creditors: amounts falling due within one year 5 (29,062) (78,882)
Net current liabilities (17,802) (68,549)
Net liabilities (4,716) (54,885)
Capital and reserves
Called up share capital 100 100
Profit and loss account (4,816) (54,985)
Shareholders' funds (4,716) (54,885)
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.
J Lennox
Director
Approved by the board on 15 August 2024
M5 External Cleaning & Resin Driveways Ltd
Notes to the Accounts
for the period from 1 June 2023 to 31 December 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.
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:
Plant and machinery 25% reducing balance
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 31/12/23 31/5/23
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 18,462
Additions 3,784
At 31 December 2023 22,246
Depreciation
At 1 June 2023 4,798
Charge for the period 4,362
At 31 December 2023 9,160
Net book value
At 31 December 2023 13,086
At 31 May 2023 13,664
4 Debtors 31/12/23 31/5/23
£ £
Trade debtors 360 360
Other debtors 10,595 8,016
10,955 8,376
5 Creditors: amounts falling due within one year 31/12/23 31/5/23
£ £
Trade creditors 4,800 4,800
Taxation and social security costs 226 226
Other creditors 24,036 73,856
29,062 78,882
6 Other information
M5 External Cleaning & Resin Driveways Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2 Blackmill Drive
Wolverton Mill
Milton Keynes
MK12 5TS
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