smallAccCompHo_0921.xslt
Company Registration No. 11299788 (England and Wales)
MD GLASS PARTITIONS LIMITED
Financial Statements
for the Period from 01 May 2023 to 30 April 2024

MD GLASS PARTITIONS LIMITED

Financial Statements for the period ending 30 April 2024

MD GLASS PARTITIONS LIMITED

Financial Statements for the period ending 30 April 2024

Notes to the Accounts

1. Statutory Information
MD GLASS PARTITIONS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11299788.
2. Accounting Policies
Basis of preparing the Financial Statements
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities.
Presentation Currency
The accounts are presented in £ sterling.
Turnover
Turnover represents sales made to customers net of value added tax and is generally recognised at the point of sale. When providing services, turnover is usually recognised on completion of the service and it is recognised by reference to the stage of completion at the balance sheet date.

MD GLASS PARTITIONS LIMITED

Financial Statements for the period ending 30 April 2024

Notes to the Accounts

Current Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible Fixed Asset Policy
Tangible fixed assets are included at cost less accumulated depreciation and impairment. Depreciation is provided to write off the cost, less estimated residual values of all fixed assets, over their expected useful lives. The following rates are used:Fixtures, fittings and office equipment - Between 15% and 25% per annumMotor vehicles - 25% per annum

MD GLASS PARTITIONS LIMITED

Financial Statements for the period ending 30 April 2024

Notes to the Accounts

Intangible Asset Policy
Goodwill is capitalised and is being amortised over its useful life of 10 years and is evaluated for impairment annually or whenever we identify certain events or circumstances that would more likely than not reduce the fair value below its carrying amount.
Deferred Tax
Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the balance sheet date and are expected to apply when the related deferred income tax asset is realised or the deferred income tax liability is settled.

MD GLASS PARTITIONS LIMITED

Financial Statements for the period ending 30 April 2024

Notes to the Accounts

3. Employees
Average number of employees, including directors, during the year was as follows:
2024 11
2023 10
4. Principal Activity
The company is primarily engaged in installing various types of commercial and residential glass partitioning products.

MD GLASS PARTITIONS LIMITED

Financial Statements for the period ending 30 April 2024

Notes to the Accounts

5. Intangible Assets
Goodwill Other Total
Cost £ £ £
At 01/05/2023 80,000 - 80,000
Additions - - -
Disposals - - -
Revaluations - - -
At 30/04/2024 80,000 - 80,000
Amortisation
At 01/05/2023 54,667 - 54,667
Charge for the Year 16,000 - 16,000
On Disposals - - -
Other increases/(decreases) - - -
At end of period 70,667 - 70,667
Net book value
At 30/04/2024 9,333 - 9,333
At 30/04/2023 25,333 - 25,333
6. Fixed Assets
Plant and Machinery Motor Vehicles Fixtures and Fittings Total
Cost or valuation £ £ £ £
At 01/05/2023 20,185 158,516 631 179,332
Additions 973 110,357 880 112,210
Disposals - (10,500) - (10,500)
At 30/04/2024 21,158 258,373 1,511 281,042
Depreciation
At 01/05/2023 9,786 83,981 314 94,081
Charge for the year 4,160 38,580 214 42,954
Disposals - (7,330) - (7,330)
At 30/04/2024 13,946 115,231 528 129,705
Net Book Value
At 30/04/2024 7,212 143,142 983 151,337
At 30/04/2023 10,399 74,535 317 85,251

MD GLASS PARTITIONS LIMITED

Financial Statements for the period ending 30 April 2024

Notes to the Accounts

7. Investments
Investments in Subsidiaries Other Investments - Listed Other Investments -Unlisted Total
£ £ £ £
Valuation at 01/05/2023 - - - -
Additions - - 100,000 100,000
Disposals - - - -
Adjustments - - 1,429 1,429
Valuation at 30/04/2024 - - 101,429 101,429