Company registration number 06793606 (England and Wales)
M K ANDREWS CONCRETE PUMPING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
M K ANDREWS CONCRETE PUMPING LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
M K ANDREWS CONCRETE PUMPING LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2024
28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,627,592
1,620,256
Current assets
Stocks
8,413
5,700
Debtors
4
108,664
224,380
Cash at bank and in hand
48,258
74,942
165,335
305,022
Creditors: amounts falling due within one year
5
(455,215)
(651,945)
Net current liabilities
(289,880)
(346,923)
Total assets less current liabilities
1,337,712
1,273,333
Creditors: amounts falling due after more than one year
6
(640,026)
(621,821)
Net assets
697,686
651,512
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
697,586
651,412
Total equity
697,686
651,512
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
M K ANDREWS CONCRETE PUMPING LTD
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2024
28 February 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 October 2024 and are signed on its behalf by:
Mrs CA Andrews
Director
Company registration number 06793606 (England and Wales)
M K ANDREWS CONCRETE PUMPING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information
M K Andrews Concrete Pumping Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Cottage, School Lane, Spooner Row, Wymondham, Norfolk, England, NR18 9JP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
- 15% reducing balance
Computers
- 25% straight line
Motor vehicles
- 25% reducing balance
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Stocks
Stocks are stated at the 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.
1.6
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
M K ANDREWS CONCRETE PUMPING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
8
8
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023
2,474,556
Additions
457,956
Disposals
(590,000)
At 28 February 2024
2,342,512
Depreciation and impairment
At 1 March 2023
854,300
Depreciation charged in the year
153,383
Eliminated in respect of disposals
(292,763)
At 28 February 2024
714,920
Carrying amount
At 28 February 2024
1,627,592
At 28 February 2023
1,620,256
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
106,625
111,719
Other debtors
2,039
112,661
108,664
224,380
M K ANDREWS CONCRETE PUMPING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
225,502
240,871
Taxation and social security
5,499
7,342
Other creditors
214,214
393,732
455,215
651,945
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
22,395
28,333
Other creditors
617,631
593,488
640,026
621,821