Registered number
SC240228
M&H Contracts Limited
Filleted Accounts
31 May 2024
M&H Contracts Limited
Registered number: SC240228
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 90,385 95,902
Current assets
Cash at bank and in hand 240,363 215,884
Creditors: amounts falling due within one year 4 (42,239) (34,159)
Net current assets 198,124 181,725
Total assets less current liabilities 288,509 277,627
Creditors: amounts falling due after more than one year 5 (78,719) (62,391)
Net assets 209,790 215,236
Capital and reserves
Called up share capital 110 110
Profit and loss account 209,680 215,126
Shareholders' funds 209,790 215,236
The director is 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 director acknowledges his 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.
D Doull
Director
Approved by the board on 16 December 2024
M&H Contracts Limited
Notes to the Accounts
for the year ended 31 May 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 (as applied to small entities by section 1A of the standard).
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 rendering of services and 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 at the following annual rates on all tangible fixed assets, other than freehold land, as follows:
Motor Vehicles 25% on a Reducing Balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 15 12
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 3,850 220,873 224,723
Additions 510 23,959 24,469
At 31 May 2024 4,360 244,832 249,192
Depreciation
At 1 June 2023 3,289 125,532 128,821
Charge for the year 161 29,825 29,986
At 31 May 2024 3,450 155,357 158,807
Net book value
At 31 May 2024 910 89,475 90,385
At 31 May 2023 561 95,341 95,902
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 602 335
Corporation tax 25,610 21,272
Other taxes and social security costs 15,546 11,997
Other creditors 481 555
42,239 34,159
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 51,655 61,311
Other creditors 27,064 1,080
78,719 62,391
6 Other information
M&H Contracts Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
No.1 Victoria Road
Kirkcaldy
Fife
KY1 1DT
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