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Registration number: 09841073

Municipal Construction Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Municipal Construction Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Municipal Construction Ltd

Company Information

Director

Mr Richard Brosenitz

Registered office

Urban House
Hull Road
Dunnington
York
YO19 5LP

Accountants

Ian Walker & Co
Accountants
Wellington House
Aviator Court
Clifton moor
York
YO30 4UZ

 

Municipal Construction Ltd

(Registration number: 09841073)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

685

956

Current assets

 

Debtors

5

361,803

64,846

Cash at bank and in hand

 

1,662

1,210

 

363,465

66,056

Creditors: Amounts falling due within one year

6

(324,321)

(393,730)

Net current assets/(liabilities)

 

39,144

(327,674)

Total assets less current liabilities

 

39,829

(326,718)

Creditors: Amounts falling due after more than one year

6

(11,375)

(21,610)

Net assets/(liabilities)

 

28,454

(348,328)

Capital and reserves

 

Called up share capital

7

200

200

Retained earnings

28,254

(348,528)

Shareholders' funds/(deficit)

 

28,454

(348,328)

For the financial year ending 30 April 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.

 

Municipal Construction Ltd

(Registration number: 09841073)
Balance Sheet as at 30 April 2024

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 January 2025
 

.........................................
Mr Richard Brosenitz
Director

   
     
 

Municipal Construction Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The company was formerly known as Urban Brickwork Yorkshire Ltd.

The address of its registered office is:
Urban House
Hull Road
Dunnington
York
YO19 5LP

These financial statements were authorised for issue by the director on 9 January 2025.

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.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Of the net liabilities, £328,074 is owed the parent company and the fellow subsidary (Urban Construction Interiors Limited). They have confirmed they will continue to support the operations of the Company.

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.

 

Municipal Construction Ltd

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

Tax

The tax expense for the period comprises current 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

Plant and equipment

3 years straight line / life of lease

Computers

3 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Municipal Construction Ltd

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

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

 

Municipal Construction Ltd

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

4

Tangible assets

Office equipment
£

Other tangible assets
 £

Total
£

Cost or valuation

At 1 May 2023

890

1,396

2,286

Additions

-

178

178

At 30 April 2024

890

1,574

2,464

Depreciation

At 1 May 2023

590

740

1,330

Charge for the year

180

269

449

At 30 April 2024

770

1,009

1,779

Carrying amount

At 30 April 2024

120

565

685

At 30 April 2023

300

656

956

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

1

22,655

Amounts owed by related parties

10

33,171

32,532

Prepayments

 

2,737

103

Other debtors

 

325,894

9,556

   

361,803

64,846

 

Municipal Construction Ltd

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

10,234

9,978

Trade creditors

 

53,434

25,098

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

189,970

328,074

Taxation and social security

 

15,930

3,890

Accruals and deferred income

 

54,753

26,236

Other creditors

 

-

454

 

324,321

393,730

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

11,375

21,610

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

200

200

200

200

'A' Ordinary shares of £1 each

-

-

-

-

'B' Ordinary shares of £1 each

-

-

-

-

'C' Ordinary shares of £1 each

-

-

-

-

200

200

200

200

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

11,375

21,610

 

Municipal Construction Ltd

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

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,234

9,978

Bank borrowings

Bank loans to the amount of £21,609 (2023 - £31,588) are secured by the UK Government under the Bounce Back Loan Scheme.

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2023 - £4,998).

10

Related party transactions

Transactions with the director

2024

At 1 May 2023
£

Advances to director
£

At 30 April 2024
£

Mr Richard Brosenitz

Loan

31,939

639

32,578

2023

At 1 April 2022
£

Advances to director
£

At 30 April 2023
£

Mr Richard Brosenitz

Loan

12,072

19,867

31,939

11

Parent and ultimate parent undertaking

The ultimate controlling party is Richard Brosenitz.