5 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 194,000 184,300 9,700 194,000 9,700 xbrli:pure xbrli:shares iso4217:GBP 05067653 2023-10-01 2024-09-30 05067653 2024-09-30 05067653 2023-09-30 05067653 2022-10-01 2023-09-30 05067653 2023-09-30 05067653 2022-09-30 05067653 core:NetGoodwill 2023-10-01 2024-09-30 05067653 core:FurnitureFittings 2023-10-01 2024-09-30 05067653 bus:Director1 2023-10-01 2024-09-30 05067653 bus:Director2 2023-10-01 2024-09-30 05067653 core:NetGoodwill 2023-09-30 05067653 core:NetGoodwill 2024-09-30 05067653 core:LandBuildings 2023-09-30 05067653 core:FurnitureFittings 2023-09-30 05067653 core:LandBuildings 2024-09-30 05067653 core:FurnitureFittings 2024-09-30 05067653 core:WithinOneYear 2024-09-30 05067653 core:WithinOneYear 2023-09-30 05067653 core:AfterOneYear 2024-09-30 05067653 core:AfterOneYear 2023-09-30 05067653 core:ShareCapital 2024-09-30 05067653 core:ShareCapital 2023-09-30 05067653 core:RetainedEarningsAccumulatedLosses 2024-09-30 05067653 core:RetainedEarningsAccumulatedLosses 2023-09-30 05067653 core:LandBuildings 2023-10-01 2024-09-30 05067653 core:NetGoodwill 2023-09-30 05067653 core:LandBuildings 2023-09-30 05067653 core:FurnitureFittings 2023-09-30 05067653 bus:Director1 2023-09-30 05067653 bus:Director1 2024-09-30 05067653 bus:Director2 2023-09-30 05067653 bus:Director2 2024-09-30 05067653 bus:Director1 2022-09-30 05067653 bus:Director1 2023-09-30 05067653 bus:Director2 2022-09-30 05067653 bus:Director2 2023-09-30 05067653 bus:Director1 2022-10-01 2023-09-30 05067653 bus:Director2 2022-10-01 2023-09-30 05067653 bus:SmallEntities 2023-10-01 2024-09-30 05067653 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 05067653 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 05067653 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 05067653 bus:FullAccounts 2023-10-01 2024-09-30 05067653 core:LandBuildings core:ShortLeaseholdAssets 2023-10-01 2024-09-30
COMPANY REGISTRATION NUMBER: 05067653
MHNP Limited
Filleted Unaudited Financial Statements
30 September 2024
MHNP Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
9,700
Tangible assets
6
3,448
4,556
-------
--------
3,448
14,256
Current assets
Debtors
7
236,596
201,137
Cash at bank and in hand
187
120
---------
---------
236,783
201,257
Creditors: amounts falling due within one year
8
220,007
186,531
---------
---------
Net current assets
16,776
14,726
--------
--------
Total assets less current liabilities
20,224
28,982
Creditors: amounts falling due after more than one year
9
8,189
18,239
--------
--------
Net assets
12,035
10,743
--------
--------
Capital and reserves
Called up share capital
2,000
2,000
Profit and loss account
10,035
8,743
--------
--------
Shareholders funds
12,035
10,743
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MHNP Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 7 May 2025 , and are signed on behalf of the board by:
Mr Michael Holt
Director
Company registration number: 05067653
MHNP Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 38 Francis Street, Leicester, LE2 2BD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property
-
10 Years
Fixtures and Fittings
-
25% reducing balance
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
5. Intangible assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
194,000
---------
Amortisation
At 1 October 2023
184,300
Charge for the year
9,700
---------
At 30 September 2024
194,000
---------
Carrying amount
At 30 September 2024
---------
At 30 September 2023
9,700
---------
The goodwill recognised in these accounts arose upon the purchase of the business and business assets from Spencers Druce Limited on 14 October 2004.
6. Tangible assets
Land and buildings
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 October 2023 and 30 September 2024
4,600
640
9,190
14,430
-------
----
-------
--------
Depreciation
At 1 October 2023
1,227
333
8,314
9,874
Charge for the year
460
76
572
1,108
-------
----
-------
--------
At 30 September 2024
1,687
409
8,886
10,982
-------
----
-------
--------
Carrying amount
At 30 September 2024
2,913
231
304
3,448
-------
----
-------
--------
At 30 September 2023
3,373
307
876
4,556
-------
----
-------
--------
7. Debtors
2024
2023
£
£
Trade debtors
65,865
43,012
Other debtors
170,731
158,125
---------
---------
236,596
201,137
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
94,937
71,690
Trade creditors
38,037
29,796
Corporation tax
52,858
48,066
Social security and other taxes
23,867
24,621
Other creditors
10,308
12,358
---------
---------
220,007
186,531
---------
---------
National Westminster Bank Plc hold a fixed and floating charge over the company's assets dated 16 August 2004.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
8,189
18,239
-------
--------
National Westminster Bank Plc hold a fixed and floating charge over the company's assets dated 16 August 2004.
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr Michael Holt
4,832
60,476
( 58,624)
6,684
Mr Naresh Patel
9,177
55,400
( 55,096)
9,481
--------
---------
---------
--------
14,009
115,876
( 113,720)
16,165
--------
---------
---------
--------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr Michael Holt
6,115
55,534
( 56,817)
4,832
Mr Naresh Patel
9,256
54,217
( 54,296)
9,177
--------
---------
---------
--------
15,371
109,751
( 111,113)
14,009
--------
---------
---------
--------
11. Related party transactions
During the year there was an interest free loan receivable on demand from a related party, amounting to £150,328 (2023: £120,194).