REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 28 February 2024 |
for |
MD Premier Services Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 28 February 2024 |
for |
MD Premier Services Limited |
MD Premier Services Limited (Registered number: 07039021) |
Contents of the Financial Statements |
for the Year Ended 28 February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MD Premier Services Limited |
Company Information |
for the Year Ended 28 February 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
TOR |
Saint-Cloud Way |
Maidenhead |
Berkshire |
SL6 8BN |
MD Premier Services Limited (Registered number: 07039021) |
Balance Sheet |
28 February 2024 |
28.2.24 | 28.2.23 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
MD Premier Services Limited (Registered number: 07039021) |
Balance Sheet - continued |
28 February 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
MD Premier Services Limited (Registered number: 07039021) |
Notes to the Financial Statements |
for the Year Ended 28 February 2024 |
1. | STATUTORY INFORMATION |
MD Premier Services Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
The company does not make significant estimates and assumptions concerning the future. |
Turnover |
Turnover represents the total rents receivable by the company and is recognised in accordance with time periods to which the rental amounts relates. This is in addition to the turnover recognised at the fair value of the consideration received or receivable for properties sold in the normal course of business and is recognised once title has passed to the buyer. |
When cash flows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amounts received is recognised as interest income. |
Tangible fixed assets |
Plant and machinery - 25% straight line |
Tangible fixed assets are included at cost less depreciation and impairment. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Stocks |
Stock are stated at lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. |
At each reporting date, an assessment is made for impairment. Any excess of carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. |
Reversals of impairment losses are also recognised in profit or loss. |
The treatment of the properties have changed during the year and therefore has been reallocated to investment property. The directors have considered the valuation. |
MD Premier Services Limited (Registered number: 07039021) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Employee benefits |
The cost of short-term employee benefits are recognised as an liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. |
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. |
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 March 2023 |
and 28 February 2024 |
DEPRECIATION |
At 1 March 2023 |
and 28 February 2024 |
NET BOOK VALUE |
At 28 February 2024 |
MD Premier Services Limited (Registered number: 07039021) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 28 February 2024 |
NET BOOK VALUE |
At 28 February 2024 |
The treatment of the properties have changed during the year and therefore has been reallocated from stock to investment property. |
Investment properties are initially measured at cost. After initial recognition, investment properties are measured through revaluations. |
The directors have considered the valuation. |
6. | DEBTORS |
28.2.24 | 28.2.23 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.24 | 28.2.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
28.2.24 | 28.2.23 |
£ | £ |
Bank loans |
Other creditors |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more than 5 years |