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Registration number: 08844471

MM Construction Solutions (South West) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

MM Construction Solutions (South West) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

MM Construction Solutions (South West) Limited

Company Information

Director

Mr M Margrie

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

MM Construction Solutions (South West) Limited

Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

14,742

14,742

Current assets

 

Stocks

6

150

150

Debtors

7

17,062

415

Cash at bank and in hand

 

25,911

1,280

 

43,123

1,845

Creditors: Amounts falling due within one year

8

(41,749)

(28,892)

Net current assets/(liabilities)

 

1,374

(27,047)

Total assets less current liabilities

 

16,116

(12,305)

Creditors: Amounts falling due after more than one year

8

(7,339)

(10,591)

Net assets/(liabilities)

 

8,777

(22,896)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

8,677

(22,996)

Shareholders' funds/(deficit)

 

8,777

(22,896)

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

MM Construction Solutions (South West) Limited

Balance Sheet as at 31 January 2025

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 February 2025
 

.........................................
Mr M Margrie
Director

 

MM Construction Solutions (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

MM Construction Solutions (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line basis

Motor vehicles

20% straight line basis

Office equipment

33.3% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

MM Construction Solutions (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

MM Construction Solutions (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2024

10,000

10,000

At 31 January 2025

10,000

10,000

Amortisation

At 1 February 2024

10,000

10,000

At 31 January 2025

10,000

10,000

Carrying amount

At 31 January 2025

-

-

 

MM Construction Solutions (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2024

1,014

36,854

4,784

42,652

At 31 January 2025

1,014

36,854

4,784

42,652

Depreciation

At 1 February 2024

1,014

22,112

4,784

27,910

At 31 January 2025

1,014

22,112

4,784

27,910

Carrying amount

At 31 January 2025

-

14,742

-

14,742

At 31 January 2024

-

14,742

-

14,742

Included within the net book value of tangible fixed assets is £14,742 in respect of assets held under finance leases (2024 - £14,742).

6

Stocks

2025
£

2024
£

Other stocks

150

150

7

Debtors

2025
£

2024
£

Trade debtors

2,750

-

Other debtors

13,827

-

Prepayments and accrued income

485

415

Total current trade and other debtors

17,062

415

 

MM Construction Solutions (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

8

Creditors

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

3,253

3,253

Trade creditors

 

3,993

448

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

25,252

10,886

Taxation and social security

 

7,621

2,717

Other creditors

 

48

10,824

Accrued expenses

 

1,582

764

 

41,749

28,892

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

7,339

10,591

9

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Hire purchase contracts

3,253

3,253

Non-current loans and borrowings

2025
£

2024
£

Hire purchase contracts

7,339

10,591



 

The finance lease liability is secured upon the asset under finance.

 

MM Construction Solutions (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

10

Related party transactions

Transactions with the director

2025

At 1 February 2024
£

Advances to director
£

Repayments by director
£

At 31 January 2025
£

Interest free loan

-

22,577

(8,750)

13,827

 

-

22,577

(8,750)

13,827