Acorah Software Products - Accounts Production 16.1.300 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 SC296478 Mr Michael Maley Mr Michael Maley true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC296478 2023-06-30 SC296478 2024-06-30 SC296478 2023-07-01 2024-06-30 SC296478 frs-core:CurrentFinancialInstruments 2024-06-30 SC296478 frs-core:ShareCapital 2024-06-30 SC296478 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 SC296478 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC296478 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 SC296478 frs-bus:SmallEntities 2023-07-01 2024-06-30 SC296478 frs-bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC296478 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC296478 1 2023-07-01 2024-06-30 SC296478 frs-bus:Director1 2023-07-01 2024-06-30 SC296478 frs-bus:Director1 2023-06-30 SC296478 frs-bus:Director1 2024-06-30 SC296478 frs-core:CurrentFinancialInstruments 1 2024-06-30 SC296478 frs-countries:Scotland 2023-07-01 2024-06-30 SC296478 2022-06-30 SC296478 2023-06-30 SC296478 2022-07-01 2023-06-30 SC296478 frs-core:CurrentFinancialInstruments 2023-06-30 SC296478 frs-core:ShareCapital 2023-06-30 SC296478 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 SC296478 frs-core:CurrentFinancialInstruments 1 2023-06-30
Registered number: SC296478
Mdm Builders Ltd.
Financial Statements
For The Year Ended 30 June 2024
Gillespie's Fife
Contents
Page
Accountants' Report 1
Balance Sheet 2
Notes to the Financial Statements 3—4
Page 1
Accountants' Report
Chartered Accountants' report to the director on the preparation of the unaudited statutory accounts of Mdm Builders Ltd. For The Year Ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mdm Builders Ltd. For The Year Ended 30 June 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to 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 http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Mdm Builders Ltd. , as a body, in accordance with the terms of our engagement letter dated 09 February 2016. Our work has been undertaken solely to prepare for your approval the accounts of Mdm Builders Ltd. and state those matters that we have agreed to state to the director of Mdm Builders 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 Mdm Builders Ltd. and its director, as a body, for our work or for this report.
It is your duty to ensure that Mdm Builders Ltd. has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Mdm Builders Ltd. . You consider that Mdm Builders Ltd. is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Mdm Builders 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 financial statements.
Signed
31st July 2024
Gillespie's Fife
Accountants
Fric Ajax Way
Methil
Leven
KY8 3RS
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Page 2
Balance Sheet
Registered number: SC296478
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 38,551 30,089
Cash at bank and in hand 1,270 15,290
39,821 45,379
Creditors: Amounts Falling Due Within One Year 5 (25,970 ) (16,208 )
NET CURRENT ASSETS (LIABILITIES) 13,851 29,171
TOTAL ASSETS LESS CURRENT LIABILITIES 13,851 29,171
NET ASSETS 13,851 29,171
CAPITAL AND RESERVES
Called up share capital 6 2 2
Profit and Loss Account 13,849 29,169
SHAREHOLDERS' FUNDS 13,851 29,171
For the year ending 30 June 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 Michael Maley
Director
31st July 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mdm Builders Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC296478 . The registered office is 7 Meadow Park, Kennoway, Fife, KY8 5TZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
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4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 527 (379 )
CIS 25,924 10,156
Employment Allowance backdated 7,178 7,178
VAT 878 841
Net wages 4,044 -
Director's loan account - 12,293
38,551 30,089
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 758 561
Corporation tax - 1,264
Other taxes and social security 11,327 11,711
Net wages - 830
Pension - 177
Accruals and deferred income 1,765 1,665
Director's loan account 12,120 -
25,970 16,208
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
7. Directors Advances, Credits and Guarantees
Included within Creditors/Debtors are the following loans (from)/to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Michael Maley 12,293 3,883 28,296 - 12,120
The above loan is unsecured, interest free and repayable on demand.
8. Ultimate Controlling Party
The company's ultimate controlling party is Mr Michael Maley by virtue of his ownership of 100% of the issued share capital in the company.
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