8 false false false false false false false false false false true false false false false false true No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 12171595 2023-04-01 2024-03-31 12171595 2024-03-31 12171595 2023-03-31 12171595 2022-04-01 2023-03-31 12171595 2023-03-31 12171595 2022-03-31 12171595 core:PlantMachinery 2023-04-01 2024-03-31 12171595 core:MotorVehicles 2023-04-01 2024-03-31 12171595 bus:LeadAgentIfApplicable 2023-04-01 2024-03-31 12171595 bus:Director1 2023-04-01 2024-03-31 12171595 bus:Director2 2023-04-01 2024-03-31 12171595 core:PlantMachinery 2023-03-31 12171595 core:PlantMachinery 2024-03-31 12171595 core:MotorVehicles 2024-03-31 12171595 core:WithinOneYear 2024-03-31 12171595 core:WithinOneYear 2023-03-31 12171595 core:AfterOneYear 2024-03-31 12171595 core:ShareCapital 2024-03-31 12171595 core:ShareCapital 2023-03-31 12171595 core:RetainedEarningsAccumulatedLosses 2024-03-31 12171595 core:RetainedEarningsAccumulatedLosses 2023-03-31 12171595 core:PlantMachinery 2023-03-31 12171595 bus:SmallEntities 2023-04-01 2024-03-31 12171595 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12171595 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12171595 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12171595 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 12171595
MDel Fleet Management Limited
Filleted Unaudited Financial Statements
31 March 2024
MDel Fleet Management Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
MDel Fleet Management Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of MDel Fleet Management Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MDel Fleet Management Limited for the year ended 31 March 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of MDel Fleet Management Limited, as a body, in accordance with the terms of our engagement letter dated 8 July 2022. Our work has been undertaken solely to prepare for your approval the financial statements of MDel Fleet Management Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MDel Fleet Management Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that MDel Fleet Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MDel Fleet Management Limited. You consider that MDel Fleet Management Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of MDel Fleet Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HEBBLETHWAITES Chartered accountants
2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ
16 October 2024
MDel Fleet Management Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
39,417
2,943
Current assets
Debtors
6
288,808
186,807
Cash at bank and in hand
110,060
73,823
---------
---------
398,868
260,630
Creditors: amounts falling due within one year
7
304,446
165,428
---------
---------
Net current assets
94,422
95,202
---------
--------
Total assets less current liabilities
133,839
98,145
Creditors: amounts falling due after more than one year
8
26,721
---------
--------
Net assets
107,118
98,145
---------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
107,116
98,143
---------
--------
Shareholders funds
107,118
98,145
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MDel Fleet Management Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 14 October 2024 , and are signed on behalf of the board by:
M Cuckson
Mrs H Cuckson
Director
Director
Company registration number: 12171595
MDel Fleet Management Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Whittington Way, Old Whittington, Chesterfield, S41 9AG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Motor vehicles
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 5 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023
4,236
4,236
Additions
2,674
51,750
54,424
Disposals
( 16,750)
( 16,750)
-------
--------
--------
At 31 March 2024
6,910
35,000
41,910
-------
--------
--------
Depreciation
At 1 April 2023
1,293
1,293
Charge for the year
1,200
2,520
3,720
Disposals
( 2,520)
( 2,520)
-------
--------
--------
At 31 March 2024
2,493
2,493
-------
--------
--------
Carrying amount
At 31 March 2024
4,417
35,000
39,417
-------
--------
--------
At 31 March 2023
2,943
2,943
-------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
276,805
181,176
Other debtors
12,003
5,631
---------
---------
288,808
186,807
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
211,622
134,821
Corporation tax
14,600
16,500
Social security and other taxes
13,490
11,003
Other creditors
64,734
3,104
---------
---------
304,446
165,428
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
26,721
--------
----