Registered number
06458370
M P A Hire Limited
Unaudited Filleted Accounts
For the Year Ended
31 December 2023
M P A Hire Limited
Registered number: 06458370
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 7,200 9,000
Tangible assets 4 133,950 98,737
141,150 107,737
Current assets
Stocks 2,500 3,000
Debtors 5 291,076 413,808
Cash at bank and in hand 245,538 228,396
539,114 645,204
Creditors: amounts falling due within one year 6 (137,518) (145,435)
Net current assets 401,596 499,769
Total assets less current liabilities 542,746 607,506
Provisions for liabilities (25,451) (18,760)
Net assets 517,295 588,746
Capital and reserves
Called up share capital 100 100
Profit and loss account 517,195 588,646
Shareholder's funds 517,295 588,746
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 member has 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.
T Kirkpatrick
Director
Approved by the board on 31 July 2024
M P A Hire Limited
Notes to the Accounts
for the year ended 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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
Motor vehicles 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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
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 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 36,000
At 31 December 2023 36,000
Amortisation
At 1 January 2023 27,000
Provided during the year 1,800
At 31 December 2023 28,800
Net book value
At 31 December 2023 7,200
At 31 December 2022 9,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 249,632 81,290 330,922
Additions 70,838 - 70,838
At 31 December 2023 320,470 81,290 401,760
Depreciation
At 1 January 2023 197,875 34,310 232,185
Charge for the year 23,880 11,745 35,625
At 31 December 2023 221,755 46,055 267,810
Net book value
At 31 December 2023 98,715 35,235 133,950
At 31 December 2022 51,757 46,980 98,737
5 Debtors 2023 2022
£ £
Trade debtors 258,417 339,925
Other debtors 32,659 73,883
291,076 413,808
6 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts - 2,200
Trade creditors 26,535 23,962
Taxation and social security costs 99,438 107,404
Other creditors 11,545 11,869
137,518 145,435
7 Other information
M P A Hire Limited is a private company limited by shares and incorporated in England. Its registered office is:
22 The Drive
Carg Bank
Carnforth
Lancashire
LA5 9JG
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