Company registration number 11021769 (England and Wales)
MEW PROPERTY MAINTENANCE SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
MEW PROPERTY MAINTENANCE SERVICES LTD
COMPANY INFORMATION
Director
Mr M Weaver
Company number
11021769
Registered office
15a Carlton Close
Kidderminster
Worestershire
DY11 5NB
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
114 High Street
Stourbridge
West Midlands
DY8 1DZ
MEW PROPERTY MAINTENANCE SERVICES LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
MEW PROPERTY MAINTENANCE SERVICES LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MEW PROPERTY MAINTENANCE SERVICES LTD FOR THE YEAR ENDED 31 OCTOBER 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MEW Property Maintenance Services Ltd for the year ended 31 October 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of MEW Property Maintenance Services Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MEW Property Maintenance Services Ltd and state those matters that we have agreed to state to the board of directors of MEW Property Maintenance Services Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MEW Property Maintenance Services Ltd and its board of directors as a body, for our work or for this report.
It is your duty to ensure that MEW Property Maintenance Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MEW Property Maintenance Services Ltd. You consider that MEW Property Maintenance Services Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of MEW Property Maintenance Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
21 February 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
MEW PROPERTY MAINTENANCE SERVICES LTD
BALANCE SHEET
AS AT 31 OCTOBER 2024
31 October 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,187
482
Current assets
Debtors
4
62,755
52,112
Cash at bank and in hand
50,304
59,921
113,059
112,033
Creditors: amounts falling due within one year
5
(62,690)
(65,295)
Net current assets
50,369
46,738
Total assets less current liabilities
54,556
47,220
Creditors: amounts falling due after more than one year
6
(1,685)
(4,517)
Provisions for liabilities
8
(120)
(71)
Net assets
52,751
42,632
Capital and reserves
Called up share capital
9
200
200
Profit and loss reserves
52,551
42,432
Total equity
52,751
42,632
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
MEW PROPERTY MAINTENANCE SERVICES LTD
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024
31 October 2024
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 21 February 2025
Mr M Weaver
Director
Company registration number 11021769 (England and Wales)
MEW PROPERTY MAINTENANCE SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
1
Accounting policies
Company information
MEW Property Maintenance Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 15a Carlton Close, Kidderminster, Worestershire, DY11 5NB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
20% on reducing balance
Computer equipment
33% on cost
Motor vehicles
25% on reducing balance
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
MEW PROPERTY MAINTENANCE SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
6
MEW PROPERTY MAINTENANCE SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 6 -
3
Tangible fixed assets
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 November 2023
1,266
1,738
3,005
Additions
500
4,595
5,095
At 31 October 2024
1,266
2,239
4,595
8,100
Depreciation and impairment
At 1 November 2023
934
1,588
2,523
Depreciation charged in the year
66
175
1,149
1,390
At 31 October 2024
1,000
1,764
1,149
3,913
Carrying amount
At 31 October 2024
266
475
3,446
4,187
At 31 October 2023
332
150
482
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
62,755
35,370
Other debtors
16,742
62,755
52,112
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
2,833
2,763
Trade creditors
26,588
18,131
Taxation and social security
25,323
31,370
Other creditors
7,946
13,031
62,690
65,295
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,685
4,517
MEW PROPERTY MAINTENANCE SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 7 -
7
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank loans
4,518
7,280
Bank loans are secured by way of a government-backed guarantee.
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
120
71
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
200
100
200
100
Ordinary of £1 each
-
25
-
25
Ordinary B of £1 each
-
25
-
25
Ordinary Preferred of £1 each
-
25
-
25
Ordinary Deferred of £1 each
-
25
-
25
200
200
200
200
During the year, the company underwent a share reorganisation.
The company passed an ordinary resolution reclassifying 25 Ordinary £1 shares, 25 Ordinary B £1 shares, 25 Ordinary Deferred £1 shares and 25 Ordinary Preferred £1 shares into 100 Ordinary A £1 shares.
The rights and privileges attached to these shares remain unaltered.
10
Ultimate controlling party
The ultimate controlling party is Mr M Weaver.