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MPS Developments Ltd

FINANCIAL STATEMENTS

YEAR ENDED 30 APRIL 2024




















Company Registration Number - 12547998

















AVENET ACCOUNTANCY

IFA Accountants



1.
MPS Developments Ltd
COMPANY NUMBER - 12547998

Balance sheet as at 30 April 2024





2024
2023

Notes
£ £ £ £
FIXED ASSETS





Tangible assets 4
554,545
683,424

Current assets




Debtors 5 33,322
23,468

Cash at bank and in hand
2,181
1,489




35,503
24,957
Current liabilities




Creditors - Amounts
falling due within one year 6 130,188
13,998


NET CURRENT (LIABILITIES) ASSETS

(94,685)
10,959


Total assets less current liabilities

459,860
694,383






Creditors - Amounts falling

due after more than one year 6
(464,851)
(702,647)


Net liabilities

(4,991)
(8,264)














2.
MPS Developments Ltd
COMPANY NUMBER - 12547998

Balance sheet as at 30 April 2024





2024
2023

Notes
£
£
CAPITAL AND RESERVES

Called up share capital 7
100
100

Profit and Loss account

(5,091)
(8,364)


Shareholders' funds

(4,991)
(8,264)



These financial statements have been prepared in accordance with the provisions of FRS102 Section 1A of the Companies Act 2006 relating to small companies.
In accordance with section 444 of the Companies Act 2006, the directors' report and the profit and loss account have not been delivered.

For the financial year ended 30 April 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.

The members have not required the company to obtain an audit.


The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.


Approved by the board of directors on 10 February 2025
and signed on their behalf by:




M Smith



Director



The notes on pages 3 to 5 form an integral part of these accounts.


3.
MPS Developments Ltd

Notes to the Financial Statements

For the year ended 30 April 2024


1. General Information

MPS DEVELOPMENTS LTD is a Private Company, limited by shares, domiciled in England and Wales, registration number 12547998.


The company's registered office is 28 Lynes Lane, Ringwood, Hants, BH24 1EH.


2. Accounting policies

Basis of accounting

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.


Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents goods supplied or services rendered, stated net of Value Added Tax. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.


Tangible fixed assets and depreciation

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life:


Plant and machinery - NN% reducing balance

Motor vehicles - NN% reducing balance


No depreciation is provided on freehold land.


Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.


Financial Instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.


3. Employees

The average number employed by the company (including directors) during the year 2024 was 1
and in the previous year 2023 was 1.


4.
MPS Developments Ltd

Notes to the Financial Statements

For the year ended 30 April 2024


4. Fixed assets - tangible


Plant and

Land and Machinery

Buildings etc. Total




Fair value £ £ £




At 1 May 2023 678,424 5,000 683,424
Additions - 33,490 33,490
Disposals (151,341) (5,000) (156,341)



At 30 April 2024 527,083 33,490 560,573



Depreciation


Charge for year - 6,028 6,028



At 30 April 2024 - 6,028 6,028



Net book values
At 30 April 2024 527,083 27,462 554,545
At 1 May 2023 678,424 5,000
683,424





`



2024
2023


£
£
5. Debtors

Due within one year:



Trade debtors 3,458
13,376
Other debtors 29,864
10,092



33,322
23,468







5.
MPS Developments Ltd

Notes to the Financial Statements

For the year ended 30 April 2024




2024
2023


£
£
6. Creditors

Amounts falling due within one year:



Trade creditors 2,015
4,569
Taxation and social security 4,183
4,780
Director's Current Accounts 123,990
4,649


130,188 13,998


Amounts falling due after one year:



Hire purchase liabilities 28,304
-
Other creditors:



Other 436,547
702,647


464,851 702,647




7. Called up share capital

There was no change in share capital during the year.


Allotted, called up and fully paid



Ordinary shares of £1 each 100
100