Company Registration No. 12457016 (England and Wales)
M&M Driveways Limited
Unaudited accounts
for the year ended 29 February 2024
M&M Driveways Limited
Unaudited accounts
Contents
M&M Driveways Limited
Company Information
for the year ended 29 February 2024
Company Number
12457016 (England and Wales)
Registered Office
Super Storage Progress Foundry
Leek New Road
Stoke-on-Trent
Staffordshire
ST6 2AS
Accountants
Nellys Accountants Ltd
71 Woodland Avenue
Tettenhall Wood
Wolverhampton
West Midlands
WV6 8ND
M&M Driveways Limited
Statement of financial position
as at 29 February 2024
Tangible assets
17,664
21,441
Cash at bank and in hand
219
163
Creditors: amounts falling due within one year
(29,477)
(34,409)
Net current liabilities
(21,439)
(23,111)
Total assets less current liabilities
(3,775)
(1,670)
Provisions for liabilities
Deferred tax
(3,357)
(4,074)
Net liabilities
(7,132)
(5,744)
Called up share capital
100
100
Profit and loss account
(7,232)
(5,844)
Shareholders' funds
(7,132)
(5,744)
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 November 2024 and were signed on its behalf by
Liam Mountford
Director
Company Registration No. 12457016
M&M Driveways Limited
Notes to the Accounts
for the year ended 29 February 2024
M&M Driveways Limited is a private company, limited by shares, registered in England and Wales, registration number 12457016. The registered office is Super Storage Progress Foundry, Leek New Road, Stoke-on-Trent, Staffordshire, ST6 2AS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of
Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under
the historical cost convention.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Plant & machinery
15% on reducing balance
Motor vehicles
25% on reducing balance
Computer equipment
25% on reducing balance
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
M&M Driveways Limited
Notes to the Accounts
for the year ended 29 February 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2023
23,572
12,500
450
36,522
At 29 February 2024
23,572
12,500
450
36,522
At 1 March 2023
7,726
7,227
128
15,081
Charge for the year
2,377
1,318
82
3,777
At 29 February 2024
10,103
8,545
210
18,858
At 29 February 2024
13,469
3,955
240
17,664
At 28 February 2023
15,846
5,273
322
21,441
Amounts falling due within one year
Accrued income and prepayments
1,067
-
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
25,000
25,000
Taxes and social security
2,812
5,343
Allotted, called up and fully paid:
80 A Ordinary of £1 each
80
80
20 B Ordinary of £1 each
20
20
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).