MHP Trading Ltd 14225676 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is Online Trading Digita Accounts Production Advanced 6.30.9574.0 true true 14225676 2024-01-01 2024-12-31 14225676 2024-12-31 14225676 core:RetainedEarningsAccumulatedLosses 2024-12-31 14225676 core:ShareCapital 2024-12-31 14225676 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 14225676 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 14225676 core:FurnitureFittingsToolsEquipment 2024-12-31 14225676 bus:SmallEntities 2024-01-01 2024-12-31 14225676 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 14225676 bus:FilletedAccounts 2024-01-01 2024-12-31 14225676 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 14225676 bus:RegisteredOffice 2024-01-01 2024-12-31 14225676 bus:Director1 2024-01-01 2024-12-31 14225676 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 14225676 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 14225676 countries:AllCountries 2024-01-01 2024-12-31 14225676 2022-07-11 2023-12-31 14225676 2023-12-31 14225676 core:RetainedEarningsAccumulatedLosses 2023-12-31 14225676 core:ShareCapital 2023-12-31 14225676 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 14225676 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 14225676

MHP Trading Ltd



Filleted Unaudited Financial Statements

for the Year Ended 31 December 2024

 

MHP Trading Ltd

 

(Registration number: 14225676)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

11,492

-

Current assets

 

Stocks

5

479,405

256,000

Debtors

6

217,874

98,794

Cash at bank and in hand

 

35,224

34,331

 

732,503

389,125

Creditors: Amounts falling due within one year

7

(572,658)

(312,576)

Net current assets

 

159,845

76,549

Total assets less current liabilities

 

171,337

76,549

Creditors: Amounts falling due after more than one year

7

(62,793)

(51,715)

Net assets

 

108,544

24,834

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

108,444

24,734

Total equity

 

108,544

24,834

For the financial year ending 31 December 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 year 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 30 April 2025 and signed on its behalf by:
 

 

MHP Trading Ltd

 

(Registration number: 14225676)
Balance Sheet as at 31 December 2024

.........................................
Mr M J Harrison
Director

 

MHP Trading Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
735 Wilmslow Road
Manchester
Greater Manchester
M20 6WF
England

These financial statements were authorised for issue by the Board on 30 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.

Going concern

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 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

MHP Trading Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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:

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

MHP Trading Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2023 - 8).

 

MHP Trading Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

15,323

15,323

At 31 December 2024

15,323

15,323

Depreciation

Charge for the year

3,831

3,831

At 31 December 2024

3,831

3,831

Carrying amount

At 31 December 2024

11,492

11,492

5

Stocks

2024
£

2023
£

Other inventories

479,405

256,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

8,772

10,871

Other debtors

209,102

87,923

 

217,874

98,794

 

MHP Trading Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

242,455

77,683

Trade creditors

 

146,101

117,551

Taxation and social security

 

69,655

18,941

Accruals and deferred income

 

1,765

1,500

Other creditors

 

112,682

96,901

 

572,658

312,576

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

62,793

51,715