Registered number
07924896
MPF Plating Limited
Report and Accounts
30 June 2024
Accountancy 4 Success Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
MPF Plating Limited
Registered number: 07924896
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 28,309 29,596
Current assets
Stocks 6,470 6,670
Debtors 4 193,883 196,161
Cash at bank and in hand 145,823 78,266
346,176 281,097
Creditors: amounts falling due within one year 5 (233,788) (214,401)
Net current assets 112,388 66,696
Total assets less current liabilities 140,697 96,292
Provisions for liabilities (7,399) (5,623)
Net assets 133,298 90,669
Capital and reserves
Called up share capital 102 102
Profit and loss account 133,196 90,567
Shareholders' funds 133,298 90,669
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.
Mark P Freeman
Director
Approved by the board on 4 November 2024
MPF Plating Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, 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 by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% - 100% straight line
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.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 10
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 155,552 16,495 172,047
Additions 24,229 - 24,229
Disposals (40,187) - (40,187)
At 30 June 2024 139,594 16,495 156,089
Depreciation
At 1 July 2023 134,203 8,248 142,451
Charge for the year 21,393 4,123 25,516
On disposals (40,187) - (40,187)
At 30 June 2024 115,409 12,371 127,780
Net book value
At 30 June 2024 24,185 4,124 28,309
At 30 June 2023 21,349 8,247 29,596
4 Debtors 2024 2023
£ £
Trade debtors 186,182 191,323
Other debtors 7,701 4,838
193,883 196,161
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 20,915 26,423
Corporation tax 47,322 20,101
Other taxes and social security costs 32,793 32,751
Other creditors 132,758 135,126
233,788 214,401
6 Related party transactions
No related party transactions
7 Controlling party
The company is controlled by its directors who are the shareholders.
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