Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 04875415 Mr Paul Bell Mr Paul Cramphorn Mrs Rayna Bell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04875415 2022-12-31 04875415 2023-12-31 04875415 2023-01-01 2023-12-31 04875415 frs-core:CurrentFinancialInstruments 2023-12-31 04875415 frs-core:Non-currentFinancialInstruments 2023-12-31 04875415 frs-core:BetweenOneFiveYears 2023-12-31 04875415 frs-core:ComputerEquipment 2023-12-31 04875415 frs-core:ComputerEquipment 2023-01-01 2023-12-31 04875415 frs-core:ComputerEquipment 2022-12-31 04875415 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 04875415 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04875415 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 04875415 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 04875415 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04875415 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 04875415 frs-core:MotorVehicles 2023-12-31 04875415 frs-core:MotorVehicles 2023-01-01 2023-12-31 04875415 frs-core:MotorVehicles 2022-12-31 04875415 frs-core:PlantMachinery 2023-12-31 04875415 frs-core:PlantMachinery 2023-01-01 2023-12-31 04875415 frs-core:PlantMachinery 2022-12-31 04875415 frs-core:WithinOneYear 2023-12-31 04875415 frs-core:CapitalRedemptionReserve 2023-12-31 04875415 frs-core:ShareCapital 2023-12-31 04875415 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04875415 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04875415 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04875415 frs-bus:SmallEntities 2023-01-01 2023-12-31 04875415 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04875415 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04875415 frs-bus:Director1 2023-01-01 2023-12-31 04875415 frs-bus:Director2 2023-01-01 2023-12-31 04875415 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 04875415 frs-countries:EnglandWales 2023-01-01 2023-12-31 04875415 2021-12-31 04875415 2022-12-31 04875415 2022-01-01 2022-12-31 04875415 frs-core:CurrentFinancialInstruments 2022-12-31 04875415 frs-core:Non-currentFinancialInstruments 2022-12-31 04875415 frs-core:BetweenOneFiveYears 2022-12-31 04875415 frs-core:PlantMachinery 2022-01-01 2022-12-31 04875415 frs-core:WithinOneYear 2022-12-31 04875415 frs-core:CapitalRedemptionReserve 2022-12-31 04875415 frs-core:ShareCapital 2022-12-31 04875415 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 04875415
MK Pumps and Motors Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
James Walsh Accountant Limited
Association of International Accountants
19 Titan Court Laporte Way
Luton
Beds
LU4 8EF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—8
Page 1
Balance Sheet
Registered number: 04875415
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 168,704 178,436
168,704 178,436
CURRENT ASSETS
Stocks 5 20,250 20,500
Debtors 6 131,125 152,715
Cash at bank and in hand 217,803 155,281
369,178 328,496
Creditors: Amounts Falling Due Within One Year 7 (200,663 ) (182,021 )
NET CURRENT ASSETS (LIABILITIES) 168,515 146,475
TOTAL ASSETS LESS CURRENT LIABILITIES 337,219 324,911
Creditors: Amounts Falling Due After More Than One Year 8 - (7,845 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (5,544 ) (6,051 )
NET ASSETS 331,675 311,015
CAPITAL AND RESERVES
Called up share capital 12 104 104
Capital redemption reserve 4 4
Profit and Loss Account 331,567 310,907
SHAREHOLDERS' FUNDS 331,675 311,015
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Page 2
For the year ending 31 December 2023 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Paul Bell
Director
25th July 2024
The notes on pages 3 to 8 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
MK Pumps and Motors Limited Registered number 04875415 is a limited by shares company incorporated in England & Wales. The Registered Office is 23-24 Potters Lane, Kiln Farm, Milton Keynes, Bucks, MK11 3HF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Impairment review
Leasehold 10% Straight line basis
Plant & Machinery 25% Reducing balance method
Motor Vehicles 25% Reducing balance method
Computer Equipment 25% Reducing balance method
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2022: 7)
7 7
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 January 2023 144,888 32,512 129,982 15,195
Additions - - - -
Disposals - - - -
As at 31 December 2023 144,888 32,512 129,982 15,195
Depreciation
As at 1 January 2023 - 30,809 105,305 14,025
Provided during the period - 1,460 6,169 292
Disposals - - - -
As at 31 December 2023 - 32,269 111,474 14,317
Net Book Value
As at 31 December 2023 144,888 243 18,508 878
As at 1 January 2023 144,888 1,703 24,677 1,170
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Page 5
Computer Equipment Total
£ £
Cost
As at 1 January 2023 24,253 346,830
Additions 629 629
Disposals (4,275 ) (4,275 )
As at 31 December 2023 20,607 343,184
Depreciation
As at 1 January 2023 18,255 168,394
Provided during the period 1,600 9,521
Disposals (3,435 ) (3,435 )
As at 31 December 2023 16,420 174,480
Net Book Value
As at 31 December 2023 4,187 168,704
As at 1 January 2023 5,998 178,436
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Plant & Machinery 13,081 17,442
5. Stocks
2023 2022
£ £
Stock 20,250 20,500
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 119,405 141,601
Prepayments and accrued income 11,720 11,114
131,125 152,715
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 7,845 7,493
Trade creditors 79,853 99,294
Corporation tax 66,151 30,785
Other taxes and social security 3,422 3,522
VAT 36,261 34,348
Other creditors 704 919
Accruals and deferred income 6,427 5,660
200,663 182,021
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 7,845
9. Secured Creditors
Of the creditors the following amounts are secured.
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 7,845 15,338
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 7,845 7,493
Later than one year and not later than five years - 7,845
7,845 15,338
7,845 15,338
11. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 5,544 6,051
12. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 104 104
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13. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 40,066 44,952
Later than one year and not later than five years 16,044 56,109
56,110 101,061
14. Pension Commitments
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £704 (2022: £713) were due to the fund. They are included in Other Creditors.
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15. Directors Advances, Credits and Guarantees
Dividends paid to directors
2023 2022
£ £
Mr Paul Bell 69,600 43,100
Mr Paul Cramphorn 69,600 51,100
16. Dividends
2023 2022
£ £
On equity shares:
Interim dividend paid 185,200 140,500
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