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Registration number: SC780187

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MDR Plumbing and Heating Ltd

Unaudited Filleted Financial Statements

for the Period from 12 September 2023 to 31 August 2024

 

MDR Plumbing and Heating Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 7

 

MDR Plumbing and Heating Ltd

Company Information

Directors

Michael David Reed

Malcolm Cameron Reed

Registered office

Inverore
Thornton Road
Kirkcaldy
KY1 3NR

Bankers

Monzo Bank Limited
Monzo
Broadwalk House
5 Appold Street
London
EC2A 2AG

Accountants

RGA Scotland Limited Chartered Accountants
Orchardlea
Callander
FK17 8BG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
MDR Plumbing and Heating Ltd
for the Period Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MDR Plumbing and Heating Ltd for the period ended 31 August 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
 

This report is made solely to the Board of Directors of MDR Plumbing and Heating Ltd , as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of MDR Plumbing and Heating Ltd and state those matters that we have agreed to state to the Board of Directors of MDR Plumbing and Heating Ltd, as a body, in this report.

This is in accordance with the requirements of the ACCA and, to the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MDR Plumbing and Heating Ltd and its Board of Directors as a body for our work or for this report.
 

It is your duty to ensure that MDR Plumbing and Heating 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 of MDR Plumbing and Heating Ltd. You consider that MDR Plumbing and Heating Ltd is exempt from the statutory audit requirement for the period.
 

We have not been instructed to carry out an audit or a review of the accounts of MDR Plumbing and Heating 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 accounts.

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RGA Scotland Limited
Chartered Accountants
Orchardlea
Callander
FK17 8BG


 

4 April 2025

 

MDR Plumbing and Heating Ltd

(Registration number: SC780187)
Balance Sheet as at 31 August 2024

Note

2024
£

Fixed assets

 

Tangible assets

5

20,390

Current assets

 

Debtors

6

2,215

Cash at bank and in hand

 

5,374

 

7,589

Creditors: Amounts falling due within one year

7

(11,701)

Net current liabilities

 

(4,112)

Total assets less current liabilities

 

16,278

Creditors: Amounts falling due after more than one year

7

(12,607)

Net assets

 

3,671

Capital and reserves

 

Called up share capital

8

100

Retained earnings

3,571

Shareholders' funds

 

3,671

For the financial period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 April 2025 and signed on its behalf by:
 

.........................................
Malcolm Cameron Reed
Director

 

MDR Plumbing and Heating Ltd

Notes to the Financial Statements for the Period from 12 September 2023 to 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Inverore
Thornton Road
Kirkcaldy
KY1 3NR

These financial statements were authorised for issue by the Board on 4 April 2025.

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.

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

Fixtures, fittings, equipment

20-50% p.a reducing balance basis

Motor vehicle

none applicable in the current year

 

MDR Plumbing and Heating Ltd

Notes to the Financial Statements for the Period from 12 September 2023 to 31 August 2024

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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

MDR Plumbing and Heating Ltd

Notes to the Financial Statements for the Period from 12 September 2023 to 31 August 2024

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

Depreciation expense

1,100

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

Additions

4,490

20,015

24,505

Disposals

-

(3,015)

(3,015)

At 31 August 2024

4,490

17,000

21,490

Depreciation

Charge for the period

1,100

-

1,100

At 31 August 2024

1,100

-

1,100

Carrying amount

At 31 August 2024

3,390

17,000

20,390

6

Debtors

Current

2024
£

Trade debtors

250

Prepayments

1,965

 

2,215

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

9

7,897

Taxation and social security

 

1

Accruals and deferred income

 

1,600

Other creditors

 

2,203

 

11,701

 

MDR Plumbing and Heating Ltd

Notes to the Financial Statements for the Period from 12 September 2023 to 31 August 2024

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

9

12,607

8

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £1 each

100

100

   

9

Loans and borrowings

Non-current loans and borrowings

2024
£

Bank borrowings

12,607

Current loans and borrowings

2024
£

Bank borrowings

3,419

Director current account

4,478

7,897