Company Registration No. 04717774 (England and Wales)
MDN Fusion Limited
Unaudited accounts
for the year ended 30 April 2024
MDN Fusion Limited
Unaudited accounts
Contents
MDN Fusion Limited
Company Information
for the year ended 30 April 2024
Directors
M D Thomas
Mrs J F Thomas
Company Number
04717774 (England and Wales)
Registered Office
2 Starling Close
Kempshott
Basingstoke
Hampshire
RG22 5PY
United Kingdom
Accountants
Eldridge & Associates Limited
Drewitts Ash
Hannington
Tadley
Hampshire
RG26 5UA
MDN Fusion Limited
Accountants' report
Accountants' report to the board of directors of MDN Fusion Limited (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 30 April 2024.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 30 April 2024. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Eldridge & Associates Limited
Drewitts Ash
Hannington
Tadley
Hampshire
RG26 5UA
31 August 2024
MDN Fusion Limited
Statement of financial position
as at 30 April 2024
Tangible assets
2,073
3,447
Cash at bank and in hand
60,237
90,952
Creditors: amounts falling due within one year
(10,155)
(23,498)
Net current assets
57,038
102,297
Total assets less current liabilities
74,168
126,001
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
73,673
125,245
Shareholders' funds
73,773
125,345
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2024 and were signed on its behalf by
M D Thomas
Director
Company Registration No. 04717774
MDN Fusion Limited
Notes to the Accounts
for the year ended 30 April 2024
MDN Fusion Limited is a private company, limited by shares, registered in England and Wales, registration number 04717774. The registered office is 2 Starling Close, Kempshott, Basingstoke, Hampshire, RG22 5PY, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Computer equipment
25% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Investment in subsidiaries is shown at cost less any impairment.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
MDN Fusion Limited
Notes to the Accounts
for the year ended 30 April 2024
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 May 2023
1,000
12,921
13,921
At 30 April 2024
1,000
12,921
13,921
At 1 May 2023
999
9,475
10,474
Charge for the year
-
1,374
1,374
At 30 April 2024
999
10,849
11,848
At 30 April 2024
1
2,072
2,073
At 30 April 2023
1
3,446
3,447
6
Investments
Subsidiary undertakings
Valuation at 1 May 2023
20,257
Fair value adjustments
(5,200)
Valuation at 30 April 2024
15,057
The shares are held at cost less impairment. The directors have considered and determined that the value of shares was impaired this year.
The return to previous profitability is expected during the FY 24/25.
Amounts falling due within one year
Trade debtors
3,414
33,352
Amounts due from group undertakings etc.
3,542
1,491
MDN Fusion Limited
Notes to the Accounts
for the year ended 30 April 2024
8
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
1,148
5,148
Loans from directors
2,923
2,923
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).