2023-02-012024-01-312024-01-31false13850750Maughan Construction 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Maughan Construction Limited

(formerly 3M CONSTRUCTION MANAGEMENT LIMITED)

Registered Number
13850750
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

Maughan Construction Limited
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

David Maughan
James Maughan

Registered Address

15 Tudor Close
Brough
HU15 1TY

Registered Number

13850750 (England and Wales)
Maughan Construction Limited
Statement of Financial Position
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets374-
74-
Current assets
Debtors428,75117,064
Cash at bank and on hand12,3917,566
41,14224,630
Creditors amounts falling due within one year5(41,057)(22,994)
Net current assets (liabilities)851,636
Total assets less current liabilities1591,636
Net assets1591,636
Capital and reserves
Called up share capital21
Profit and loss account1571,635
Shareholders' funds1591,636
The financial statements were approved and authorised for issue by the Board of Directors on 3 October 2024, and are signed on its behalf by:
David Maughan
Director
Registered Company No. 13850750
Maughan Construction Limited
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
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 from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment4
Stocks and work in progress
Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
Additions9292
At 31 January 249292
Depreciation and impairment
Charge for year1818
At 31 January 241818
Net book value
At 31 January 247474
At 31 January 23--
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables3,571584
Other debtors7,80811,320
Prepayments and accrued income17,3725,160
Total28,75117,064
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables19,6301,106
Amounts owed to related parties14,1027,852
Taxation and social security6,32512,571
Accrued liabilities and deferred income1,0001,465
Total41,05722,994
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.