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Registered number: 05076160
M & M's Metalwork Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Hargreaves & Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05076160
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 113,795 116,404
113,795 116,404
CURRENT ASSETS
Stocks 5 12,000 21,000
Debtors 6 115,409 95,100
Cash at bank and in hand 2,853 2,336
130,262 118,436
Creditors: Amounts Falling Due Within One Year 7 (164,877 ) (129,853 )
NET CURRENT ASSETS (LIABILITIES) (34,615 ) (11,417 )
TOTAL ASSETS LESS CURRENT LIABILITIES 79,180 104,987
Creditors: Amounts Falling Due After More Than One Year 8 (6,899 ) (60,912 )
NET ASSETS 72,281 44,075
CAPITAL AND RESERVES
Called up share capital 10 400 400
Share premium account 1,800 1,800
Capital redemption reserve (6,999 ) (6,999 )
Profit and Loss Account 77,080 48,874
SHAREHOLDERS' FUNDS 72,281 44,075
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Page 2
For the year ending 31 March 2025 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mark Hancock
Director
9 December 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
M & M's Metalwork Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05076160 . The registered office is Hill Farm Barns, Roman Road Nr Sutton Scotney, Winchester, Hampshire, SO21 3HT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2024: 14)
11 14
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2024 57,980 58,509 191,187 8,790 316,466
Additions - - 15,995 - 15,995
As at 31 March 2025 57,980 58,509 207,182 8,790 332,461
Depreciation
As at 1 April 2024 - 51,777 140,069 8,216 200,062
Provided during the period - 1,683 16,778 143 18,604
As at 31 March 2025 - 53,460 156,847 8,359 218,666
Net Book Value
As at 31 March 2025 57,980 5,049 50,335 431 113,795
As at 1 April 2024 57,980 6,732 51,118 574 116,404
5. Stocks
2025 2024
£ £
Stock 12,000 21,000
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6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 104,639 83,455
Other debtors 10,770 11,645
Staff Loan 1,235 -
Other debtors (2) (1,235 ) -
115,409 95,100
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 4,499 7,794
Trade creditors 16,764 18,307
Bank loans and overdrafts 13,182 4,846
Corporation tax 28,814 30,924
Other taxes and social security 8,065 6,269
VAT 15,545 955
Net wages 3,185 -
Other creditors (2) 27,092 76
Accruals and deferred income 10,540 2,223
M Hancock 6,335 27,603
S Hancock - Loan 30,856 30,856
164,877 129,853
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 1,571 11,889
Bank loans - 31,349
Other loans 5,328 17,674
6,899 60,912
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,499 7,794
Later than one year and not later than five years 1,571 11,889
6,070 19,683
Less: Finance charges allocated to future periods - -
6,070 19,683
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10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 400 400
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