Registered number
02306555
M P K Controls Limited
Report and Unaudited Accounts
31 March 2024
Collins
Chartered Accountants
West Midlands
M P K Controls Limited
Registered number: 02306555
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 3 29,253 97,603
Current assets
Stocks 36,000 31,000
Debtors 4 882,583 427,306
Cash at bank and in hand 230,774 441,748
1,149,357 900,054
Creditors: amounts falling due within one year 5 (601,099) (481,123)
Net current assets 548,258 418,931
Total assets less current liabilities 577,511 516,534
Creditors: amounts falling due after more than one year 6 (15,833) (25,833)
Provisions for liabilities - (8,468)
Net assets 561,678 482,233
Capital and reserves
Called up share capital 100 100
Profit and loss account 561,578 482,133
Shareholders' funds 561,678 482,233
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Wicketts
Director
Approved by the board on 16 October 2024
M P K Controls Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 ( as applicable to small companies), The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
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. 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 when the work is performed.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% straight line
Plant,machinery & website 25% reducing balance/50% straight line
Office equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 11
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 35,390 140,123 175,513
Disposals - (70,444) (70,444)
At 31 March 2024 35,390 69,679 105,069
Depreciation
At 1 April 2023 23,663 54,247 77,910
Charge for the year 2,930 42,420 45,350
On disposals - (47,444) (47,444)
At 31 March 2024 26,593 49,223 75,816
Net book value
At 31 March 2024 8,797 20,456 29,253
At 31 March 2023 11,727 85,876 97,603
4 Debtors 2024 2023
£ £
Trade debtors 788,477 360,271
Deferred tax asset 1,839 -
Prepayments and accrued income 7,985 7,267
Vat repayable 84,282 59,768
882,583 427,306
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 480,082 422,480
Corporation tax 92,189 33,486
Other taxes and social security costs 5,370 5,504
Directors loans 2,582 153
Accruals and deferred income 10,876 9,500
601,099 481,123
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 15,833 25,833
7 Pension commitments
The company operates an Employee Auto Enrolment Pension Scheme, contributions on behalf of the employees amounted to £6,280 (2023;£7,363).
8 Other information
M P K Controls Limited is a private company limited by shares and incorporated in England. Its registered office is:
24 Langfield Road
Knowle
Solihull
West Midland
B93 9PN
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