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Registration number: 04994531

MDS Construction Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

MDS Construction Limited

Contents

Company Information

1

Director's Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

MDS Construction Limited

Company Information

Director

M D Slater

Company secretary

J Sutton

Registered office

The Old Vicarage
51 St John
Street
Ashbourne
Derbyshire
DE6 1GP

Accountants

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

 

MDS Construction Limited

Director's Report for the Year Ended 30 June 2024

The director presents his report and the financial statements for the year ended 30 June 2024.

Director of the company

The director who held office during the year was as follows:

M D Slater

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 13 December 2024
 

.........................................
M D Slater
Director

 

MDS Construction Limited

(Registration number: 04994531)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

22,512

36,828

Current assets

 

Stocks

350

300

Debtors

5

126,767

56,804

Cash at bank and in hand

 

116,211

237,127

 

243,328

294,231

Creditors: Amounts falling due within one year

6

(18,337)

(43,521)

Net current assets

 

224,991

250,710

Total assets less current liabilities

 

247,503

287,538

Creditors: Amounts falling due after more than one year

6

(75,764)

(83,428)

Provisions for liabilities

(4,300)

(7,000)

Net assets

 

167,439

197,110

Capital and reserves

 

Called up share capital

100

100

Retained earnings

167,339

197,010

Shareholders' funds

 

167,439

197,110

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.

Approved and authorised by the director on 13 December 2024
 

 

MDS Construction Limited

(Registration number: 04994531)
Balance Sheet as at 30 June 2024 (continued)

.........................................
M D Slater
Director

   
     
 

MDS Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales registration number: 04994531.

The address of its registered office is:
The Old Vicarage
51 St John
Street
Ashbourne
Derbyshire
DE6 1GP
England

These financial statements were authorised for issue by the director on 13 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

MDS Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

not depreciated

Plant and machinery

15% reducing balance basis

Computer equipment

straight line over 3 years

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

MDS Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

4

Tangible assets

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 July 2023

1,480

59,829

61,309

Additions

-

4,000

4,000

Disposals

-

(15,000)

(15,000)

At 30 June 2024

1,480

48,829

50,309

Depreciation

At 1 July 2023

1,480

23,001

24,481

Charge for the year

-

3,503

3,503

Eliminated on disposal

-

(187)

(187)

At 30 June 2024

1,480

26,317

27,797

Carrying amount

At 30 June 2024

-

22,512

22,512

At 30 June 2023

-

36,828

36,828

 

MDS Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

5

Debtors

Current

2024
£

2023
£

Trade debtors

126,000

56,000

Prepayments

767

804

 

126,767

56,804

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

1,467

29,138

Accruals and deferred income

2,295

2,383

Other creditors

14,575

12,000

18,337

43,521

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other creditors

75,764

83,428