M.D Construction of Cheltenham Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 6691063

M.D Construction of Cheltenham Limited

Filleted Unaudited Financial Statements

30 September 2023

M.D Construction of Cheltenham Limited

Financial Statements

Year ended 30 September 2023

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

M.D Construction of Cheltenham Limited

Statement of Financial Position

30 September 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	5	29,136	40,485

Current assets

Stocks		3,758,152	2,633,443
Debtors	6	863,010	300,140
Cash at bank and in hand		27,510	6,934
		------------	------------
		4,648,672	2,940,517

Creditors: amounts falling due within one year	7	( 3,841,989)	( 2,079,830)
		------------	------------
Net current assets		806,683	860,687
		---------	---------
Total assets less current liabilities		835,819	901,172

Creditors: amounts falling due after more than one year	8	( 67,234)	( 104,796)
		---------	---------
Net assets		768,585	796,376
		---------	---------

M.D Construction of Cheltenham Limited

Statement of Financial Position (continued)

30 September 2023

	2023	2022
Note	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	768,485	796,276
	---------	---------
Shareholders funds	768,585	796,376
	---------	---------

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 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 18 September 2025 , and are signed on behalf of the board by:

M.E. Deacon
Director

Company registration number: 6691063

M.D Construction of Cheltenham Limited

Notes to the Financial Statements

Year ended 30 September 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Midway House, Staverton Technology Park, Herrick Way, Staverton, Cheltenham, Glos, GL51 6TQ.

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. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, stated net of Value Added Tax. Turnover relating to the sale of property is derived from the gross proceeds on exchange of contracts. Turnover relating to work done is derived according to the stage of completion of each contract.

Taxation

The taxation expense represents current 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.

Tangible assets

Tangible assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & equipment	-	25% straight line
Motor vehicles	-	20% straight line

Stocks

Stocks are valued at cost. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Hire purchase contracts

Assets held under hire purchase contracts are capitalised as tangible fixed assets at their fair value with the corresponding liability included as an obligation under hire purchase contracts. Hire purchase repayments are treated as consisting of capital and interest elements, and interest is charged to the profit and loss account on a straight line basis which is considered to be a reasonable approximation to a constant rate of charge on the outstanding balance.

Pension costs

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions paid by the company to the fund during the year.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).

5. Tangible assets

	Plant & equipment	Motor vehicles	Total
	£	£	£
Cost
At 1 October 2022	69,120	52,963	122,083
Additions	3,867	–	3,867
	--------	--------	---------
At 30 September 2023	72,987	52,963	125,950
	--------	--------	---------
Depreciation
At 1 October 2022	44,427	37,171	81,598
Charge for the year	10,809	4,407	15,216
	--------	--------	---------
At 30 September 2023	55,236	41,578	96,814
	--------	--------	---------
Carrying amount
At 30 September 2023	17,751	11,385	29,136
	--------	--------	---------
At 30 September 2022	24,693	15,792	40,485
	--------	--------	---------

6. Debtors

	2023	2022
	£	£
Trade debtors	16,053	16,053
Other debtors	846,957	284,087
	---------	---------
	863,010	300,140
	---------	---------

Other debtors include £NIL (2022 - £71,016) in respect of the director's loan account, a loan of £788,718 (2022 - £6,300) to M.E. Deacon Construction Limited and a loan of £2,700 (2022 - £NIL) to RD Homes of Cheltenham Ltd.

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loan	32,000	32,000
Trade creditors	105,402	191,063
Social security and other taxes	156,845	228,089
Loans	3,461,281	1,585,039
Other creditors	86,461	43,639
	------------	------------
	3,841,989	2,079,830
	------------	------------

The bank loan is supported by the Coronavirus Business Interruption Loan Scheme Guarantee from the UK Government. Loans include £900,000 (2022 - £350,000) which is secured by a charge on property being developed by the company and £2,201,281 (2022 - £915,039) secured by a fixed and floating charge on the assets of the company. Other creditors include obligations under hire purchase contracts of £5,562 (2022 - £5,562) which are secured by a charge over the asset to which they relate.

8. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Bank loan	64,000	96,000
Other creditors	3,234	8,796
	--------	---------
	67,234	104,796
	--------	---------

The bank loan is supported by the Coronavirus Business Interruption Loan Scheme Guarantee from the UK Government. The bank loan is wholly repayable within 5 years from the statement of financial position date. Other creditors comprise obligations under hire purchase contracts which are secured by a charge over the asset to which they relate.

9. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2023
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
M.E. Deacon	71,016	200,383	( 280,000)	( 8,601)
	--------	---------	---------	-------

	2022
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
M.E. Deacon	5,868	170,816	( 105,668)	71,016
	-------	---------	---------	--------