Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-294The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-03-01falseConstruction of domestic and commercial buildings6falsetruefalse 13657145 2023-03-01 2024-02-29 13657145 2021-10-01 2023-02-28 13657145 2024-02-29 13657145 2023-02-28 13657145 2021-10-01 13657145 c:Director3 2023-03-01 2024-02-29 13657145 d:PlantMachinery 2023-03-01 2024-02-29 13657145 d:PlantMachinery 2024-02-29 13657145 d:PlantMachinery 2023-02-28 13657145 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 13657145 d:MotorVehicles 2023-03-01 2024-02-29 13657145 d:MotorVehicles 2024-02-29 13657145 d:MotorVehicles 2023-02-28 13657145 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 13657145 d:OfficeEquipment 2023-03-01 2024-02-29 13657145 d:OfficeEquipment 2024-02-29 13657145 d:OfficeEquipment 2023-02-28 13657145 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 13657145 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 13657145 d:CurrentFinancialInstruments 2024-02-29 13657145 d:CurrentFinancialInstruments 2023-02-28 13657145 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 13657145 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 13657145 d:ShareCapital 2024-02-29 13657145 d:ShareCapital 2023-02-28 13657145 d:RetainedEarningsAccumulatedLosses 2024-02-29 13657145 d:RetainedEarningsAccumulatedLosses 2023-02-28 13657145 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 13657145 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 13657145 d:TaxLossesCarry-forwardsDeferredTax 2024-02-29 13657145 d:TaxLossesCarry-forwardsDeferredTax 2023-02-28 13657145 c:FRS102 2023-03-01 2024-02-29 13657145 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 13657145 c:FullAccounts 2023-03-01 2024-02-29 13657145 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13657145 d:WithinOneYear 2024-02-29 13657145 d:WithinOneYear 2023-02-28 13657145 d:BetweenOneFiveYears 2024-02-29 13657145 d:BetweenOneFiveYears 2023-02-28 13657145 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 13657145










MEDD CONSTRUCTION LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
MEDD CONSTRUCTION LIMITED
REGISTERED NUMBER: 13657145

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
58,679
48,405

Current assets
  

Debtors: amounts falling due within one year
 5 
10,614
159,466

Cash at bank and in hand
  
257,568
534,691

  
268,182
694,157

Creditors: amounts falling due within one year
 6 
(90,091)
(534,679)

Net current assets
  
 
 
178,091
 
 
159,478

Total assets less current liabilities
  
236,770
207,883

Provisions for liabilities
  

Deferred tax
 7 
(14,670)
(12,013)

Net assets
  
222,100
195,870


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
222,000
195,770

  
222,100
195,870


Page 1

 
MEDD CONSTRUCTION LIMITED
REGISTERED NUMBER: 13657145
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 September 2024.




N S Medd
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MEDD CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Medd Construction Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 13657145). Its registered office is Unit 1e Skiff Lane, Holme-On-Spalding Moor, York, Yorkshire, United Kingdom, YO43 4BB. The principal activity of the Company throughout the year continued to be that of the construction of domestic and commercial buildings.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the lease term.

Page 3

 
MEDD CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.     

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.



 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:

The depreciation rates used are:

Plant and machinery
-
10%
Straight line
Motor vehicles
-
25%
Reducing balance
Office equipment
-
20%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

Page 4

 
MEDD CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 4).

Page 5

 
MEDD CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 March 2023
17,381
26,599
7,394
51,374


Additions
21,635
-
-
21,635



At 29 February 2024

39,016
26,599
7,394
73,009



Depreciation


At 1 March 2023
1,091
1,108
770
2,969


Charge for the year on owned assets
3,663
6,373
1,325
11,361



At 29 February 2024

4,754
7,481
2,095
14,330



Net book value



At 29 February 2024
34,262
19,118
5,299
58,679



At 28 February 2023
16,290
25,491
6,624
48,405


5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
-
154,798

Prepayments
10,614
4,668

10,614
159,466


Page 6

 
MEDD CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
1,573
91,128

Corporation tax
36,220
55,318

Other taxation and social security
26,213
243,102

Other creditors
1,700
141,131

Accruals
24,385
4,000

90,091
534,679



7.


Deferred taxation






2024
2023


£

£






At beginning of year
12,013
-


Charged to the Statement of Income and Retained Earnings
2,657
12,013



At end of year
14,670
12,013

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
14,670
12,101

Pension surplus
-
(88)

14,670
12,013


8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £13,964 (2023: £3,076). Contributions totalling £nil (2023: £353) were payable to the fund at the Balance Sheet date and are included in creditors.



Page 7

 
MEDD CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Commitments under operating leases

At 29 February 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

29 February
28 February
2024
2023
£
£


Not later than 1 year
4,333
6,500

Later than 1 year and not later than 5 years
-
4,333

4,333
10,833

 
Page 8