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MFOR ASSOCIATES LIMITED

Registered Number
03972396
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

MFOR ASSOCIATES LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

COLLIER, Steven Sean

Registered Address

35/37 St. Leonards Road
Northampton
NN4 8DL

Registered Number

03972396 (England and Wales)
MFOR ASSOCIATES LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,4594,689
3,4594,689
Current assets
Stocks45,15519,038
Debtors54,1152,745
Cash at bank and on hand9,4625,358
18,73227,141
Creditors amounts falling due within one year6(45,245)(31,509)
Net current assets (liabilities)(26,513)(4,368)
Total assets less current liabilities(23,054)321
Creditors amounts falling due after one year7(20,053)(30,101)
Net assets(43,107)(29,780)
Capital and reserves
Called up share capital2,5002,500
Profit and loss account(45,607)(32,280)
Shareholders' funds(43,107)(29,780)
The financial statements were approved and authorised for issue by the Director on 21 March 2025, and are signed on its behalf by:
COLLIER, Steven Sean
Director
Registered Company No. 03972396
MFOR ASSOCIATES LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Vehicles25-
Office Equipment-3
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 July 2323,03523,20678547,026
At 30 June 2423,03523,20678547,026
Depreciation and impairment
At 01 July 2320,20821,42270742,337
Charge for year707445781,230
At 30 June 2420,91521,86778543,567
Net book value
At 30 June 242,1201,339-3,459
At 30 June 232,8271,784784,689
4.Stocks

2024

2023

££
Work in progress5,15519,038
Total5,15519,038
5.Debtors: amounts due within one year

2024

2023

££
Prepayments and accrued income4,1152,745
Total4,1152,745
6.Creditors: amounts due within one year

2024

2023

££
Taxation and social security31,27920,332
Other creditors43254
Accrued liabilities and deferred income13,92310,923
Total45,24531,509
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.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts20,05330,101
Total20,05330,101