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Registered number: 01228344
M. & M. Damproof Co. Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01228344
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 455,458 457,092
455,458 457,092
CURRENT ASSETS
Stocks 4 10,885 11,568
Debtors 5 75,247 100,499
Cash at bank and in hand 132,680 21,551
218,812 133,618
Creditors: Amounts Falling Due Within One Year 6 (108,243 ) (146,532 )
NET CURRENT ASSETS (LIABILITIES) 110,569 (12,914 )
TOTAL ASSETS LESS CURRENT LIABILITIES 566,027 444,178
Creditors: Amounts Falling Due After More Than One Year 7 (534,996 ) (545,645 )
NET ASSETS/(LIABILITIES) 31,031 (101,467 )
CAPITAL AND RESERVES
Called up share capital 8 200,000 200,000
Revaluation reserve 9 232,669 232,669
Profit and Loss Account (401,638 ) (534,136 )
SHAREHOLDERS' FUNDS 31,031 (101,467)
Page 1
Page 2
For the 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.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Paul Bubb
Director
30 January 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation is charged
Plant & Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
1.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 6)
5 6
3. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 May 2023 450,000 24,492 73,672 7,653 555,817
As at 30 April 2024 450,000 24,492 73,672 7,653 555,817
Depreciation
As at 1 May 2023 - 23,231 67,968 7,526 98,725
Provided during the period - 189 1,426 19 1,634
As at 30 April 2024 - 23,420 69,394 7,545 100,359
...CONTINUED
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Page 4
Net Book Value
As at 30 April 2024 450,000 1,072 4,278 108 455,458
As at 1 May 2023 450,000 1,261 5,704 127 457,092
4. Stocks
2024 2023
£ £
Materials 10,885 11,568
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 57,529 93,882
Prepayments and accrued income 17,718 6,617
75,247 100,499
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 28,787 39,742
Other taxes and social security 5,357 4,665
VAT 14,416 20,968
Director's loan account 59,683 81,157
108,243 146,532
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 234,996 245,645
Directors loan account 300,000 300,000
534,996 545,645
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200,000 200,000
Page 4
Page 5
9. Reserves
Revaluation Reserve
£
As at 1 May 2023 232,669
As at 30 April 2024 232,669
10. Ultimate Controlling Party
The company's ultimate controlling party is Mr P Bubb by virtue of his ownership of 100% of the issued share capital in the company.
Page 5