Registered number
09441128
M R CONSTRUCTION LTD
Filleted Accounts
31 March 2024
M R CONSTRUCTION LTD
Registered number: 09441128
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Debtors 4 494,364 775,456
Investments held as current assets 5 50 50
Cash at bank and in hand 1,297 9,823
495,711 785,329
Creditors: amounts falling due within one year 6 (492,027) (784,879)
Net current assets 3,684 450
Net assets 3,684 450
Capital and reserves
Called up share capital 450 450
Profit and loss account 3,234 -
Shareholder's funds 3,684 450
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Harpreet Kaur
Director
Approved by the board on 17 March 2025
M R CONSTRUCTION LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings NIL
Leasehold land and buildings over the lease term
Investment property
Investment property is revalued annually for the fair value and the surplus or deficit is transferred
to profit and loss account. No depreciation is provided in respect of investment property.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 31 March 2024 - - - -
Depreciation
At 31 March 2024 - - - -
Net book value
At 31 March 2024 - - - -
Freehold land and buildings: 2024 2023
£ £
Historical cost - 1,594,449
Cumulative depreciation based on historical cost - -
- 1,594,449
In the opinion of the director, Ms Harpreet Kaur, the market value of the properties are fairly stated as at 30 April 2022.
4 Debtors 2024 2023
£ £
Other debtors 494,364 775,456
5 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 50 50
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,390 92,429
Amounts owed to group undertakings and undertakings in which the company has a participating interest 87,397 270,182
Taxation and social security costs 354,177 353,419
Director's account 1,500 20,506
Other creditors 47,563 48,343
492,027 784,879
7 Revaluation reserve 2024 2023
£ £
At 1 April 2023 - 1,626,189
Revaluation reserve reversed - (1,626,189)
At 31 March 2024 - -
8 Related party transactions 2024 2023
£ £
Ms Harpreet Kaur - Director
Included within creditor is a balance due from the company of: 1,500 20,506
Consort House(Fleet) Ltd
Common Director
During he year the company charged Consort House (Fleet)
Limited interest of: - 36,640
Included with other debtors is an amount receivable of: - 189,582
Lincoln Court Development Ltd
Common director
Included with other debtors is an amount
receivable of: - 90,010
Tavistock Property Development Ltd
Common director
Included with other debtors is an amount
receivable of: - 1,500
BCL Group Ltd
Common director
Included within payable to group undertakings is an
amount due to: - 270,182
Included with other debtors is an amount receivable of: 87,397 -
During the year, the company paid dividends of: - 1,349,282
Simrit Development Ltd
Common director
Included with other creditors is an amount
payable of: 39,418 39,418
BCL Management & Consultancy Ltd
Common director
Included with other creditors is an amount
payable of: 5,850 5,850
Pinewood House Property Ltd
Common director
Included with other creditors is an amount
payable of: 675 675
9 Controlling party
The company is under the control of BCL Group Limited registered at Unit 9, Hounslow
Business Park, Alice Way, Hounslow, Middlesex, TW3 3UD. The parent company has taken exemption available being a small group fo not preparing a consolidated accounts.
10 Other information
M R CONSTRUCTION LTD is a private company limited by shares and incorporated in England. Its registered office is:
Unit 9 Hounslow Business Park
Alice Way
Hounslow
Middlesex
TW3 3UD
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