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Company Registration No. 11844348 (England and Wales)
MPD CAR SALES LIMITED Unaudited accounts for the year ended 29 February 2024
MPD CAR SALES LIMITED Unaudited accounts Contents
Page
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MPD CAR SALES LIMITED Company Information for the year ended 29 February 2024
Director
DAVIES, Mark
Company Number
11844348 (England and Wales)
Registered Office
17 SHELLBARK HOUGHTON LE SPRING DH4 7TD UNITED KINGDOM
Accountants
FIND TOTALS LTD 9 Hollybank Place Aberdeen Aberdeen AB11 6XR
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of MPD CAR SALES LIMITED for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MPD CAR SALES LIMITED for the year ended 29 February 2024 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given 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 icaew.com/membershandbook.
This report is made solely to the Board of Directors of MPD CAR SALES LIMITED, as a body, in accordance with the terms of our engagement letter dated 1 March 2020. Our work has been undertaken solely to prepare for your approval the accounts of MPD CAR SALES LIMITED and state those matters that we have agreed to state to the Board of Directors of MPD CAR SALES LIMITED, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MPD CAR SALES LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that MPD CAR SALES LIMITED 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 MPD CAR SALES LIMITED. You consider that MPD CAR SALES LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of MPD CAR SALES LIMITED. 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.
FIND TOTALS LTD Chartered Accountants 9 Hollybank Place Aberdeen Aberdeen AB11 6XR 23 April 2025
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MPD CAR SALES LIMITED Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,124 
104 
Current assets
Inventories
21,924 
151,926 
Cash at bank and in hand
7,231 
8,561 
29,155 
160,487 
Creditors: amounts falling due within one year
37,154 
(28,540)
Net current assets
66,309 
131,947 
Total assets less current liabilities
68,433 
132,051 
Creditors: amounts falling due after more than one year
(4,691)
(76,521)
Net assets
63,742 
55,530 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
63,741 
55,529 
Shareholders' funds
63,742 
55,530 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 April 2025 and were signed on its behalf by
DAVIES, Mark Director Company Registration No. 11844348
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MPD CAR SALES LIMITED Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
MPD CAR SALES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11844348. The registered office is 17 SHELLBARK, HOUGHTON LE SPRING, DH4 7TD, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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MPD CAR SALES LIMITED Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 March 2023
299 
Additions
2,729 
At 29 February 2024
3,028 
Depreciation
At 1 March 2023
195 
Charge for the year
709 
At 29 February 2024
904 
Net book value
At 29 February 2024
2,124 
At 28 February 2023
104 
5
Inventories
2024 
2023 
£ 
£ 
Finished goods
21,924 
151,926 
21,924 
151,926 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
(4,856)
3,095 
Taxes and social security
9,429 
14,161 
Loans from directors
(43,887)
7,258 
Accruals
2,160 
4,026 
(37,154)
28,540 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
20,941 
32,771 
Other creditors
(16,250)
43,750 
4,691 
76,521 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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