| REGISTERED NUMBER: |
| M H Industrial Limited |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| REGISTERED NUMBER: |
| M H Industrial Limited |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| M H Industrial Limited (Registered number: 03921526) |
| Contents of the Financial Statements |
| for the year ended 31 August 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| M H Industrial Limited |
| Company Information |
| for the year ended 31 August 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| M H Industrial Limited (Registered number: 03921526) |
| Balance Sheet |
| 31 August 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Share premium |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| M H Industrial Limited (Registered number: 03921526) |
| Balance Sheet - continued |
| 31 August 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| M H Industrial Limited (Registered number: 03921526) |
| Notes to the Financial Statements |
| for the year ended 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| M H Industrial Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is the amount, excluding value added tax, receivable by the company in the ordinary course of business for goods supplied as a principal and for services provided. In the case of contract work turnover is calculated on the basis of the value of work executed during the year. |
| Goodwill |
| Goodwill is written off evenly over its estimated economic life of 20 years and is stated in the balance sheet at cost less amounts written off. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Depreciation is calculated to write down the cost of all fixed assets (excluding freehold land) over their useful lives. |
| The rates generally applicable are: |
| Freehold land and buildings | 2% straight line |
| Plant and machinery | 15% to 25% reducing balance |
| Fixtures and fittings | 15% to 33.33% reducing balance |
| Computer equipment | 33.33% straight line |
| Motor vehicles | 25% reducing balance |
| Stocks |
| Stock and work in progress is stated at the lower of cost and net realisable value. |
| In the case of raw materials, cost means purchase price including transport and handling costs, less trade discounts, calculated on a first in first out basis. |
| Net realisable value means estimated selling price less all further costs to completion and all costs to be incurred in marketing, selling and distribution. |
| Contract work in progress included in debtors is stated at net realisable value. Cumulative turnover (i.e. the total turnover recorded in respect of the contract in the profit and loss accounts of all accounting periods since inception of the contract) is compared with total payments on account. If turnover exceeds payments on account an "amount recoverable on contracts" is established and separately disclosed within debtors. If payments on account are greater than turnover to date, the excess is classified within creditors. |
| M H Industrial Limited (Registered number: 03921526) |
| Notes to the Financial Statements - continued |
| for the year ended 31 August 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred taxation |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Employee benefits |
| The company operates a defined contribution scheme for the benefit of directors. The assets of this scheme are held in an independently administered trust fund. Contributions to this scheme are charged to the profit and loss account as they become payable. In addition the company makes contributions to personal pension arrangements for employees and directors and these contributions are charged to the profit and loss account as they become payable. |
| Investments |
| Investments are initially measured at cost and adjusted for market value through the profit and loss account. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| AMORTISATION |
| At 1 September 2023 |
| and 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| M H Industrial Limited (Registered number: 03921526) |
| Notes to the Financial Statements - continued |
| for the year ended 31 August 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2023 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 6. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST OR VALUATION |
| At 1 September 2023 |
| Revaluations |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| Cost or valuation at 31 August 2024 is represented by: |
| Other |
| investments |
| £ |
| Valuation in 2024 | 152,520 |
| Cost | 740,000 |
| 892,520 |
| M H Industrial Limited (Registered number: 03921526) |
| Notes to the Financial Statements - continued |
| for the year ended 31 August 2024 |
| 6. | FIXED ASSET INVESTMENTS - continued |
| If fixed asset investments had not been revalued they would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Cost | 740,000 | 740,000 |
| The company holds an investment with Scottish Widows cautious solution share class A accumulation fund. |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Contract work in progress | 56,556 | 132,967 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| 'A' ordinary shares | 50p | 25,000 | 25,000 |
| 10. | OTHER FINANCIAL COMMITMENTS |
| The company had commitments to purchase second hand equipment for resale as follows: |
| 2024 | 2023 |
| £ | £ |
| Within one year | - | 97,805 |
| In the second to fifth years inclusive | - | - |
| 11. | CONTROL RELATIONSHIPS |
| The company is controlled by K J Mulgrove by virtue of his 100% holding of the issued share capital of the company. |