1 January 2023 false No description of principal activity Taxfiler 2024.5 03152770business:PrivateLimitedCompanyLtd2023-01-012023-12-31 031527702022-12-31 031527702023-01-012023-12-31 03152770business:AuditExemptWithAccountantsReport2023-01-012023-12-31 03152770business:FilletedAccounts2023-01-012023-12-31 031527702023-12-31 03152770business:Director12023-01-012023-12-31 03152770business:Director22023-01-012023-12-31 03152770business:RegisteredOffice2023-01-012023-12-31 031527702022-12-31 03152770core:WithinOneYear2023-12-31 03152770core:WithinOneYear2022-12-31 03152770core:AfterOneYear2023-12-31 03152770core:AfterOneYear2022-12-31 03152770core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 03152770core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 03152770core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 03152770core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 03152770core:PreviouslyStatedAmount2023-12-31 03152770core:PreviouslyStatedAmount2022-12-31 03152770business:SmallEntities2023-01-012023-12-31 03152770countries:EnglandWales2023-01-012023-12-31 03152770core:FurnitureFittings2023-01-012023-12-31 03152770core:ComputerEquipment2023-01-012023-12-31 03152770core:FurnitureFittings2022-12-31 03152770core:ComputerEquipment2022-12-31 03152770core:FurnitureFittings2023-12-31 03152770core:ComputerEquipment2023-12-31 031527702022-01-012022-12-31 iso4217:GBP xbrli:pure
Company Registration No. 03152770 (England and Wales)
MAINTENANCE DIRECT INSURANCE SERVICES LTD. Unaudited accounts for the year ended 31 December 2023
MAINTENANCE DIRECT INSURANCE SERVICES LTD. Unaudited accounts Contents
Page
- 2 -
MAINTENANCE DIRECT INSURANCE SERVICES LTD. Company Information for the year ended 31 December 2023
Directors
S Cook C Coles
Company Number
03152770 (England and Wales)
Registered Office
Citibase Suite 538 The Atrium 1 Harefield Road Uxbridge UB8 1PH
Accountants
Kaushik Khiroya, AFA LMK ACCOUNTING LTD THE GATEHOUSE GATEHOUSE WAY AYLESBURY HP19 8DB
- 3 -
MAINTENANCE DIRECT INSURANCE SERVICES LTD. Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,848 
7,310 
Investments
2 
2 
5,850 
7,312 
Current assets
Debtors
269,299 
264,583 
Cash at bank and in hand
106,865 
108,039 
376,164 
372,622 
Creditors: amounts falling due within one year
(118,208)
(79,856)
Net current assets
257,956 
292,766 
Total assets less current liabilities
263,806 
300,078 
Creditors: amounts falling due after more than one year
(15,000)
(25,000)
Net assets
248,806 
275,078 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
248,706 
274,978 
Shareholders' funds
248,806 
275,078 
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 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 20 September 2024 and were signed on its behalf by
C Coles Director Company Registration No. 03152770
- 4 -
MAINTENANCE DIRECT INSURANCE SERVICES LTD. Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
MAINTENANCE DIRECT INSURANCE SERVICES LTD. is a private company, limited by shares, registered in England and Wales, registration number 03152770. The registered office is Citibase Suite 538, The Atrium, 1 Harefield Road, Uxbridge, UB8 1PH.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.
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:
Fixtures & fittings
20% - Reducing balance
Computer equipment
20% - Reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
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.
- 5 -
MAINTENANCE DIRECT INSURANCE SERVICES LTD. Notes to the Accounts for the year ended 31 December 2023
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Financial instruments are classified by the directors as basic or advanced following the condiTions in FRS 102 section 11. Basic financial instruments, which include trade and other receivables and payables, cash and bank balances, are amortised at cost. Advanced financial instruments which include interest rate swap and forward foreign exchange contracts, are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
9,885 
35,120 
45,005 
At 31 December 2023
9,885 
35,120 
45,005 
Depreciation
At 1 January 2023
8,383 
29,312 
37,695 
Charge for the year
300 
1,162 
1,462 
At 31 December 2023
8,683 
30,474 
39,157 
Net book value
At 31 December 2023
1,202 
4,646 
5,848 
At 31 December 2022
1,502 
5,808 
7,310 
5
Investments
Subsidiary undertakings 
£ 
Valuation at 1 January 2023
2 
Valuation at 31 December 2023
2 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
231,259 
219,207 
Accrued income and prepayments
38,040 
36,250 
Other debtors
- 
9,126 
269,299 
264,583 
- 6 -
MAINTENANCE DIRECT INSURANCE SERVICES LTD. Notes to the Accounts for the year ended 31 December 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
Trade creditors
64,505 
65,016 
Taxes and social security
10,021 
2,980 
Other creditors
31,432 
210 
Accruals
2,250 
1,650 
118,208 
79,856 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
15,000 
25,000 
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).
- 7 -