Registered number
09777895
M3 Property Maintenance Ltd
Filleted Accounts
31 December 2023
M3 Property Maintenance Ltd
Registered number: 09777895
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 201,943 100,647
Current assets
Stocks 93,752 301,642
Debtors 4 503,500 389,143
Cash at bank and in hand 354,959 388,741
952,211 1,079,526
Creditors: amounts falling due within one year 5 (560,960) (408,473)
Net current assets 391,251 671,053
Total assets less current liabilities 593,194 771,700
Creditors: amounts falling due after more than one year 6 (471,668) (609,799)
Net assets 121,526 161,901
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 26,301 -
Profit and loss account 95,125 161,801
Shareholders' funds 121,526 161,901
The director is 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 director acknowledges his 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.
G Young
Director
Approved by the board on 14 August 2024
M3 Property Maintenance Ltd
Notes to the Accounts
for the period from 1 October 2022 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
Fixtures, fittings, tools and equipment 25% reducing balance
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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
Lease payments are recognised as an expense over the lease term.
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 10 10
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2022 23,422 217,136 240,558
Additions 3,470 248,271 251,741
Disposals - (44,453) (44,453)
At 31 December 2023 26,892 420,954 447,846
Depreciation
At 1 October 2022 5,664 134,248 139,912
Charge for the period 5,307 100,684 105,991
At 31 December 2023 10,971 234,932 245,903
Net book value
At 31 December 2023 15,921 186,022 201,943
At 30 September 2022 17,758 82,889 100,647
4 Debtors 2023 2022
£ £
Trade debtors 231,414 64,703
Other debtors 272,086 324,440
503,500 389,143
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 6,279 18,078
Trade creditors 178,247 206,537
Taxation and social security costs 83,478 109,259
Other creditors 292,956 74,599
560,960 408,473
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 222,481 277,357
Obligations under finance lease and hire purchase contracts 160,513 179,123
Other creditors 88,674 153,319
471,668 609,799
7 Revaluation reserve 2023 2022
£ £
P&L Reserves 26,301 -
At 31 December 2023 26,301 -
8 Other information
M3 Property Maintenance Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2 Blackhill Drive
Wolverton Mill
Milton Keynes
Bucks
MK12 5TS
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