Michaelsson Contractors Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07711188

MICHAELSSON CONTRACTORS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2025

MICHAELSSON CONTRACTORS LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		11,031	14,099

Current assets

Stocks		2,000	1,000
Debtors	6	473,160	166,092
Cash at bank and in hand		358,426	580,044
		---------	---------
		833,586	747,136

Creditors: amounts falling due within one year	7	279,830		236,621
		---------		---------
Net current assets			553,756	510,515
			---------	---------
Total assets less current liabilities			564,787	524,614

Provisions

Taxation including deferred tax	1,906	2,619
	---------	---------
Net assets	562,881	521,995
	---------	---------

Capital and reserves

Called up share capital	8	1	1
Profit and loss account		562,880	521,994
		---------	---------
Shareholders funds		562,881	521,995
		---------	---------

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 31 December 2025 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 .

MICHAELSSON CONTRACTORS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2025

These financial statements were approved by the board of directors and authorised for issue on 9 July 2026 , and are signed on behalf of the board by:

Mr K O'Dougan	Mrs D O'Dougan
Director	Director

Company registration number: 07711188

MICHAELSSON CONTRACTORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 The Chambers, Vineyard, Abingdon-on-Thames.

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 and investment properties measured at fair value through profit or loss.

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

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Revenue recognition

The turnover shown in the profit and loss account represents amounts receivable for work undertaken during the year, exclusive of Value Added Tax.

Taxation

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. Corporation tax is recognised on taxable profit for the current and past years. 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. Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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:

Plant and machinery	-	20% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	20% reducing balance

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.

Trade and other debtors

Trade and other debtors are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

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.

Related parties

For the purposes of these financial statements, a party is considered to be related to the Company if:

(i) the party has the ability, directly or indirectly, through one or more intermediaries, to control the Company or exercise significant influence over the Company in making financial and operating policy decisions, or has joint control over the Company;

(ii) the Company and the party are subject to common control;

(iii) the party is an associate of the Company or a joint venture in which the Company is a venturer;

(iv) the party is a member of key management personnel of the Company or the Company's parent, or a close family member of such an individual, or is an entity under the control, joint control or significant influence of such individuals;

(v) the party is a close family member of a party referred to in (i) or is an entity under the control,joint control or significant influence of such individuals; or close family members of an individual are those family members who it may be expected to influence, or be influenced by, that individual in their dealings with the entity.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2024: 6 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 January 2025	14,648	40,214	5,821	60,683
Additions	–	–	583	583
Disposals	–	–	( 1,936)	( 1,936)
	--------	--------	-------	--------
At 31 December 2025	14,648	40,214	4,468	59,330
	--------	--------	-------	--------
Depreciation
At 1 January 2025	11,759	30,588	4,237	46,584
Charge for the year	577	2,407	376	3,360
Disposals	–	–	( 1,645)	( 1,645)
	--------	--------	-------	--------
At 31 December 2025	12,336	32,995	2,968	48,299
	--------	--------	-------	--------
Carrying amount
At 31 December 2025	2,312	7,219	1,500	11,031
	--------	--------	-------	--------
At 31 December 2024	2,889	9,626	1,584	14,099
	--------	--------	-------	--------

6. Debtors

	2025	2024
	£	£
Trade debtors	286,002	–
Other debtors	187,158	166,092
	---------	---------
	473,160	166,092
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	97,481	30,662
Corporation tax	38,492	110,958
Social security and other taxes	110,662	91,857
Other creditors	33,195	3,144
	---------	---------
	279,830	236,621
	---------	---------

8. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
5 x Ordinary A & 5 x Ordinary B shares of £ 0.10 each	10	1	10	1
	----	----	----	----

9. Related party transactions

There is a loan due from Edwards Vehicle Services Ltd, a company in which Mr & Mrs O'Dougan are directors, with Mr K O'Dougan also being the majority shareholder. The balance of the loan due at the year end date was £27,572 (2024 - £29,972), which is recorded in other debtors. During the year there were loan repayments made, totaling £2,400. There was no interest charged on the loan balance, and it is repayable on demand.