IRIS Accounts Production v24.2.0.383 09362952 Board of Directors Board of Directors 1.3.23 29.2.24 29.2.24 false true true false false true true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh093629522023-02-28093629522024-02-29093629522023-03-012024-02-29093629522022-02-28093629522022-03-012023-02-28093629522023-02-2809362952ns15:EnglandWales2023-03-012024-02-2909362952ns14:PoundSterling2023-03-012024-02-2909362952ns10:Director12023-03-012024-02-2909362952ns10:Director22023-03-012024-02-2909362952ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2909362952ns10:FRS1022023-03-012024-02-2909362952ns10:Audited2023-03-012024-02-2909362952ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2909362952ns10:FullAccounts2023-03-012024-02-2909362952ns10:OrdinaryShareClass12023-03-012024-02-2909362952ns10:Director32023-03-012024-02-2909362952ns10:CompanySecretary12023-03-012024-02-2909362952ns10:RegisteredOffice2023-03-012024-02-2909362952ns5:CurrentFinancialInstruments2024-02-2909362952ns5:CurrentFinancialInstruments2023-02-2809362952ns5:ShareCapital2024-02-2909362952ns5:ShareCapital2023-02-2809362952ns5:RetainedEarningsAccumulatedLosses2024-02-2909362952ns5:RetainedEarningsAccumulatedLosses2023-02-2809362952ns5:ShareCapital2022-02-2809362952ns5:RetainedEarningsAccumulatedLosses2022-02-2809362952ns5:RetainedEarningsAccumulatedLosses2022-03-012023-02-2809362952ns5:RetainedEarningsAccumulatedLosses2023-03-012024-02-2909362952ns10:OrdinaryShareClass12022-03-012023-02-2809362952ns5:ComputerEquipment2023-02-2809362952ns5:ComputerEquipment2024-02-2909362952ns5:ComputerEquipment2023-02-2809362952ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2909362952ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2809362952ns10:OrdinaryShareClass12024-02-2909362952ns5:RetainedEarningsAccumulatedLosses2023-02-2809362952ns5:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity2023-03-012024-02-2909362952ns5:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity2022-03-012023-02-2809362952ns5:OtherRelatedParties2023-03-012024-02-2909362952ns5:OtherRelatedParties2022-03-012023-02-28
REGISTERED NUMBER: 09362952 (England and Wales)












REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

M&D FOUNDATIONS EASTERN LIMITED

M&D FOUNDATIONS EASTERN LIMITED (REGISTERED NUMBER: 09362952)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


M&D FOUNDATIONS EASTERN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mr R Wylie
Mr G Townsley
Mr M Hayward



SECRETARY: Mr A R Wykes



REGISTERED OFFICE: M&D House
Brooklands Road
Adwick-le-Street
Doncaster
DN6 7BA



REGISTERED NUMBER: 09362952 (England and Wales)



SENIOR STATUTORY AUDITOR: Robert Watson FCA



AUDITORS: Gibson Booth Limited
Statutory Auditor
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB

M&D FOUNDATIONS EASTERN LIMITED (REGISTERED NUMBER: 09362952)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 29 FEBRUARY 2024

The directors present their report with the financial statements of the company for the year ended 29 February 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of specialist foundation and piling services.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 March 2023 to the date of this report.

Mr R Wylie
Mr G Townsley
Mr M Hayward

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

M&D FOUNDATIONS EASTERN LIMITED (REGISTERED NUMBER: 09362952)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 29 FEBRUARY 2024


AUDITORS
The auditors, Gibson Booth Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr R Wylie - Director


30 August 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
M&D FOUNDATIONS EASTERN LIMITED

Opinion
We have audited the financial statements of M&D Foundations Eastern Limited (the 'company') for the year ended 29 February 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 29 February 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
M&D FOUNDATIONS EASTERN LIMITED


Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
M&D FOUNDATIONS EASTERN LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We design audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to the Companies Act 2006. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
M&D FOUNDATIONS EASTERN LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Robert Watson FCA (Senior Statutory Auditor)
for and on behalf of Gibson Booth Limited
Statutory Auditor
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB

30 August 2024

M&D FOUNDATIONS EASTERN LIMITED (REGISTERED NUMBER: 09362952)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £   

TURNOVER 4 1,208,153 1,142,708

Cost of sales 1,219,332 1,142,708
GROSS LOSS (11,179 ) -

Administrative expenses 51,390 58,573
(62,569 ) (58,573 )

Other operating income 248,000 238,000
OPERATING PROFIT and
PROFIT BEFORE TAXATION 185,431 179,427

Tax on profit 7 45,395 34,129
PROFIT FOR THE FINANCIAL YEAR 140,036 145,298

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

140,036

145,298

M&D FOUNDATIONS EASTERN LIMITED (REGISTERED NUMBER: 09362952)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £   
CURRENT ASSETS
Debtors 10 321,354 285,039
Cash at bank 15,050 12,819
336,404 297,858
CREDITORS
Amounts falling due within one year 11 288,115 243,772
NET CURRENT ASSETS 48,289 54,086
TOTAL ASSETS LESS CURRENT LIABILITIES 48,289 54,086

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 48,189 53,986
SHAREHOLDERS' FUNDS 48,289 54,086

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:




Mr R Wylie - Director



Mr G Townsley - Director


M&D FOUNDATIONS EASTERN LIMITED (REGISTERED NUMBER: 09362952)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 FEBRUARY 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 March 2022 100 355 455

Changes in equity
Dividends - (91,667 ) (91,667 )
Total comprehensive income - 145,298 145,298
Balance at 28 February 2023 100 53,986 54,086

Changes in equity
Dividends - (145,833 ) (145,833 )
Total comprehensive income - 140,036 140,036
Balance at 29 February 2024 100 48,189 48,289

M&D FOUNDATIONS EASTERN LIMITED (REGISTERED NUMBER: 09362952)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

M&D Foundations Eastern 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.

The financial statements are prepared in sterling which is the functional currency of the entity and rounded to the nearest pound.

2. STATEMENT OF COMPLIANCE

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" and the Companies Act 2006. The significant accounting policies applied in the preparation of these financial statements have been set out below.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d).

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial

M&D FOUNDATIONS EASTERN LIMITED (REGISTERED NUMBER: 09362952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

3. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The policies adopted for the recognition of turnover are as follows:

When the outcomes of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the value of the work performed.

When the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Computer equipment - 25% on reducing balance

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual, as arrangement either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

M&D FOUNDATIONS EASTERN LIMITED (REGISTERED NUMBER: 09362952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

5. EMPLOYEES AND DIRECTORS
29.2.24 28.2.23
£    £   
Wages and salaries 40,770 40,311
Social security costs 5,031 4,575
Other pension costs 1,032 947
46,833 45,833

The average number of employees during the year was as follows:
29.2.24 28.2.23

Management of operations 1 1

29.2.24 28.2.23
£    £   
Directors' remuneration 45,487 44,599
Directors' pension contributions to money purchase schemes 1,032 947

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

6. OPERATING PROFIT

The operating profit is stated after charging:

29.2.24 28.2.23
£    £   
Auditors' remuneration 3,800 3,800

M&D FOUNDATIONS EASTERN LIMITED (REGISTERED NUMBER: 09362952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
29.2.24 28.2.23
£    £   
Current tax:
UK corporation tax 45,413 34,129
Under provision of corporation
tax (18 ) -

Tax on profit 45,395 34,129

UK corporation tax has been charged at 25% (2023 - 19%).

8. DIVIDENDS
29.2.24 28.2.23
£    £   
Interim 145,833 91,667

9. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2023
and 29 February 2024 818
DEPRECIATION
At 1 March 2023
and 29 February 2024 818
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

M&D FOUNDATIONS EASTERN LIMITED (REGISTERED NUMBER: 09362952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 317,299 283,313
VAT 4,055 1,726
321,354 285,039

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 1,346 1,415
Amounts owed to group undertakings 235,286 203,428
Corporation tax 45,413 34,147
Social security and other taxes 2,106 775
Other creditors 264 307
Accruals and deferred income 3,700 3,700
288,115 243,772

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

13. RESERVES
Retained
earnings
£   

At 1 March 2023 53,986
Profit for the year 140,036
Dividends (145,833 )
At 29 February 2024 48,189

M&D FOUNDATIONS EASTERN LIMITED (REGISTERED NUMBER: 09362952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

14. ULTIMATE PARENT COMPANY

The directors consider that the ultimate parent company is DSS Group Limited. The largest group of undertakings for which group financial statements have been drawn up is that headed by DSS Group Limited, and the smallest such group of undertakings, including the company, is headed by Bessacarr Properties Limited.

Copies of the consolidated financial statements of DSS Group Limited are available from the company secretary at the registered office; M & D House, Brooklands Road, Adwick-Le-Street, Doncaster, South Yorkshire, DN6 7BA.

15. CONTINGENT LIABILITIES

A composite company unlimited multilateral guarantee is given to the bank by DSS Group Limited, Bessacarr Properties Limited, M & D Foundations & Building Services Limited, M & D Foundations (Midlands) Limited and M & D Foundations Eastern Limited. As at 28 February 2024 the total group loan balances due to the bank were £Nil (2023: £751,915).

16. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity
29.2.24 28.2.23
£    £   
Dividends paid 128,333 80,667
Amount due to related party 238,395 110,061

Fellow group undertakings
29.2.24 28.2.23
£    £   
Purchases 1,219,332 1,142,708
Management charges 248,000 238,000
Amount due from related parties 3,109 93,367