Company Registration No. 9307003 (England and Wales)
M X Construction Limited
Unaudited accounts
for the year ended 30 November 2024
M X Construction Limited
Unaudited accounts
Contents
M X Construction Limited
Company Information
for the year ended 30 November 2024
Directors
Xhevdet Lala
Bernard Francis Brennan
Company Number
9307003 (England and Wales)
Registered Office
Congress House
14 Lyon Road
Harrow
HA1 2EN
Accountants
Evolve Accounting and Tax Solutions Ltd
Congress House
14 Lyon Road
Harrow
Middlesex
HA1 2EN
M X Construction Limited
Statement of financial position
as at 30 November 2024
Tangible assets
576,124
336,088
Cash at bank and in hand
273,017
227,939
Creditors: amounts falling due within one year
(639,508)
(398,562)
Net current assets
126,268
169,420
Total assets less current liabilities
702,392
505,508
Creditors: amounts falling due after more than one year
(64,721)
(12,811)
Provisions for liabilities
Deferred tax
(139,214)
(84,022)
Net assets
498,457
408,675
Called up share capital
2
2
Profit and loss account
498,455
408,673
Shareholders' funds
498,457
408,675
For the year ending 30 November 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 directors acknowledge their 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 of Directors and authorised for issue on 18 June 2025 and were signed on its behalf by
Bernard Francis Brennan
Director
Company Registration No. 9307003
M X Construction Limited
Notes to the Accounts
for the year ended 30 November 2024
M X Construction Limited is a private company, limited by shares, registered in England and Wales, registration number 9307003. The registered office is Congress House, 14 Lyon Road, Harrow, HA1 2EN.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in sterling.
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 method
Motor vehicles
25% reducing balance method
Fixtures & fittings
25% reducing balance method
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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Hire purchase contracts policy
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.
M X Construction Limited
Notes to the Accounts
for the year ended 30 November 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 December 2023
284,262
95,300
6,029
385,591
Additions
276,153
39,160
2,540
317,853
Disposals
-
(9,900)
-
(9,900)
At 30 November 2024
560,415
124,560
8,569
693,544
At 1 December 2023
26,653
19,792
3,058
49,503
Charge for the year
54,899
16,891
1,038
72,828
On disposals
-
(4,911)
-
(4,911)
At 30 November 2024
81,552
31,772
4,096
117,420
At 30 November 2024
478,863
92,788
4,473
576,124
At 30 November 2023
257,609
75,508
2,971
336,088
Amounts falling due within one year
Accrued income and prepayments
295,321
161,990
Other debtors
79,241
23,290
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
70,088
36,781
Trade creditors
524,779
335,322
Taxes and social security
12,527
16,298
Other creditors
6,181
1,467
Loans from directors
19,804
5,694
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
64,721
12,811
8
Transactions with related parties
A loan was made to M X Homes a company under common control. This loan is unsecured, interest-free and repayable on demand. The balance at 30 November 2024 was £790 (2023: £765)
M X Construction Limited
Notes to the Accounts
for the year ended 30 November 2024
9
Average number of employees
During the year the average number of employees was 2 (2023: 1).