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Registered Number: 12592972
England and Wales

 

 

 

MK1 CONTRACTS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 12,188    11,250 
12,188    11,250 
Current assets      
Debtors 30,861    29,369 
Cash at bank and in hand 11,802    11,560 
42,663    40,929 
Creditors: amount falling due within one year (21,071)   (15,967)
Net current assets 21,592    24,962 
 
Total assets less current liabilities 33,780    36,212 
Creditors: amount falling due after more than one year (3,750)   (8,750)
Net assets 30,030    27,462 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 30,028    27,460 
Shareholders' funds 30,030    27,462 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 20 January 2025 and were signed by:


-------------------------------
Matthew Keene
Director
1
General Information
MK1 Contracts Ltd is a private company, limited by shares, registered in England and Wales, registration number 12592972, registration address 20-22 WENLOCK ROAD, LONDON, London, N1 7GU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Total
  £   £
At 01 June 2023 15,000    15,000 
Additions 5,000    5,000 
Disposals  
At 31 May 2024 20,000    20,000 
Depreciation
At 01 June 2023 3,750    3,750 
Charge for year 4,062    4,062 
On disposals  
At 31 May 2024 7,812    7,812 
Net book values
Closing balance as at 31 May 2024 12,188    12,188 
Opening balance as at 01 June 2023 11,250    11,250 


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