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Registration number: 03905669

MPH Building Systems Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

MPH Building Systems Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

MPH Building Systems Limited

Balance Sheet

as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

209,519

155,778

Investment property

5

976,147

976,147

 

1,185,666

1,131,925

Current assets

 

Stocks

120,407

63,523

Debtors

6

108,876

317,399

Cash at bank and in hand

 

639,259

627,231

 

868,542

1,008,153

Creditors: Amounts falling due within one year

7

(419,923)

(798,815)

Net current assets

 

448,619

209,338

Total assets less current liabilities

 

1,634,285

1,341,263

Creditors: Amounts falling due after more than one year

7

(10,475)

(3,993)

Provisions for liabilities

(38,480)

(30,302)

Net assets

 

1,585,330

1,306,968

Capital and reserves

 

Allotted, called up and fully paid share capital

350

350

Capital redemption reserve

650

650

Profit and loss account

1,584,330

1,305,968

Shareholders' funds

 

1,585,330

1,306,968

Registration number: 03905669

 

MPH Building Systems Limited

Balance Sheet

as at 31 May 2024 (continued)

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 22 October 2024
 

.........................................
Mr J M Hunt
Director

 

MPH Building Systems Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 May 2024

1

General information

The company is a private company limited by shares incorporated in England within the United Kingdom.

The company's registration number is 03905669.

The address of its registered office is:
Hoyers Industrial Estate
517 Leeds Road
Huddersfield
West Yorkshire
HD2 1YJ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have been transferred to the buyer.

 

MPH Building Systems Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 May 2024 (continued)

2

Accounting policies (continued)

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the balance sheet at cost less any subsequent accumulated depreciation and accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

15% per annum on a reducing balance basis and 33.3% per annum on a straight line basis

Motor vehicles

25% per annum on a straight line basis

Buildings for hire

not depreciated


 

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined by the director. Any surplus or deficit is transferred to the revaluation reserve.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

 

MPH Building Systems Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 May 2024 (continued)

2

Accounting policies (continued)

Leases

Rentals in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Hire purchase agreements are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are capitalised and depreciated over their useful lives. Obligations under such agreements are included in 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.

Defined contribution pension obligation

The company operates a defined contribution scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions are charged to the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 8 (2023 - 8).

 

MPH Building Systems Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 May 2024 (continued)

4

Tangible assets

Fixtures, fittings and equipment
 £

Motor vehicles
 £

Buildings for hire
 £

Total
£

Cost

At 1 June 2023

160,983

100,372

36,500

297,855

Additions

3,848

109,135

-

112,983

Disposals

(3,357)

(49,260)

(500)

(53,117)

At 31 May 2024

161,474

160,247

36,000

357,721

Depreciation

At 1 June 2023

104,574

37,503

-

142,077

Charge for the year

8,599

30,374

-

38,973

Eliminated on disposal

(2,033)

(30,815)

-

(32,848)

At 31 May 2024

111,140

37,062

-

148,202

Net book value

At 31 May 2024

50,334

123,185

36,000

209,519

At 31 May 2023

56,409

62,869

36,500

155,778

5

Investment property

2024
£

At 1 June 2023

976,147

At 31 May 2024

976,147

The properties were acquired at open market value in June 2021. They are stated at cost and the director is of the opinion that this reflects their fair value.

 

MPH Building Systems Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 May 2024 (continued)

6

Debtors

Current

2024
£

2023
£

Trade debtors

70,820

284,428

Prepayments and accrued income

38,056

32,971

 

108,876

317,399

7

Creditors

2024
£

2023
£

Due within one year

HP and finance lease liabilities

10,856

3,770

Trade creditors

67,341

117,039

Director's loan account

1,047

760

Taxation and social security

16,939

176,312

Accruals and deferred income

157,412

354,418

Corporation tax

166,328

146,516

419,923

798,815


 

2024
£

2023
£

Due after one year

HP and finance lease liabilities

10,475

3,993

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2023 - £5,142).