MDA Consulting Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04511261 (England and Wales)

MDA CONSULTING LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Gatehouse

K Heaton

S R Jones

M J G Taylor

M J Fowler

R M McGuinn

K M Mein

R E Hall

S R Udall

C K Lester

G Church

REGISTERED OFFICE:

The Bell Building

1 Norfolk Row

London

SE1 7JP

REGISTERED NUMBER:

04511261 (England and Wales)

AUDITORS:

Bessler Hendrie LLP

Chartered Accountants

Statutory Auditor

Ashbourne House

The Guildway

Old Portsmouth Road

Guildford

Surrey

GU3 1LR

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

39,632

40,493

39,632

40,493

CURRENT ASSETS

Debtors

7

2,051,350

2,207,658

Cash at bank and in hand

829,082

506,207

2,880,432

2,713,865

CREDITORS

Amounts falling due within one year

8

(1,108,175

)

(1,076,449

)

NET CURRENT ASSETS

1,772,257

1,637,416

TOTAL ASSETS LESS CURRENT LIABILITIES

1,811,889

1,677,909

CAPITAL AND RESERVES

Called up share capital

10

185

185

Retained earnings

1,811,704

1,677,724

SHAREHOLDERS' FUNDS

1,811,889

1,677,909

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 14 February 2020 and were signed on its behalf by:

S R Jones - Director

1.	STATUTORY INFORMATION

MDA Consulting Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of

Financial Reporting Standard 102 (FRS 102 1A) "The Financial Reporting Standard applicable in the UK and Republic

of Ireland" and the Companies Act 2006. Unless indicated otherwise in the accounting policies below, the financial

statements have been prepared under the historical cost convention.

Turnover

Turnover represents the net value of contract work undertaken from surveying, project management and

engineering cost services, excluding VAT. This is recognised when the service has been delivered to the client, the

extent of which is determined by the stage of completion in a given project.

Amounts recoverable on contracts comprise of the cost plus attributable profit. Cost includes direct staff costs and

outlays together with attributable overheads. In determining amounts recoverable on contracts, costs incurred to

date are compared to the costs estimated to have been incurred per the stage of completion for a project. Where

the estimated costs to date are in excess of the costs estimated to have been incurred per the stage of completion

for a project, a provision is immediately recognised against the excess costs to complete. Fees rendered on account

are deducted from amounts recoverable on contracts and to the extent that they exceed the value of work done are

included in creditors as payments on account.

Intangible assets

Intangible assets relate to goodwill. Goodwill purchased on business combinations and acquisitions is the excess of

the cost of the acquisition over the interest in the net fair value of identifiable assets and liabilities acquired, and is

capitalised as an asset on the balance sheet and is recognised as an intangible fixed asset.

Goodwill has been fully amortised over its estimated useful life of 10 years. This length of time is presumed to be the

maximum useful life of purchased goodwill because it is difficult to make projections beyond this period. Goodwill is

reviewed for impairment at the end of the first full financial year following each acquisition and subsequently as and

when necessary if circumstances emerge that the carrying value may not be recoverable.

Tangible fixed assets

Tangible assets are stated at cost less accumulated depreciation. Cost includes the original purchase price and costs

directly attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life,

or, if held under a finance lease, over the lease term, which ever is the shorter.

Plant and machinery etc - 25% on cost, over the life of the lease

On disposal the difference between net proceeds and the carrying amount of the item sold is recognised in the

statement of income and is included in administrative expenses.

Financial instruments

Financial instruments are classified by directors as basic or non-basic following the conditions in Section 11 and

Section 12 of FRS 102. Basic financial instruments are recognised at amortised cost using the effective interest rate

method. The company does not have any non-basic financial instruments.

Taxation

Taxation comprises of current and deferred tax. Current tax is the amount of corporation tax payable in respect of

the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been

enacted or substantively enacted by the year end.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay

less tax in the future have occurred at the balance sheet date. Timing differences are differences between the

company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing

differences are expected to reverse, based on tax rates and laws that have been enacted or substantially enacted by

the balance sheet date. Deferred tax is measured on a non-discounted basis.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance

sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of

transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs

The company contributes to a personal pension scheme for its employees. The assets of the scheme are held

separately from those of the company in an independently administered fund. The pension charge represents the

amounts payable by the company to the fund in respect of the period.

Hire purchase and leasing commitments

Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the

assets are treated as if they had been purchased outright. The amount capitalised is the present value of the

minimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as

amounts payable to the lessor.

All other leases are treated as operating leases. Their annual rentals are charged to the statement of income on a

straight-line basis over the term of the lease. The benefits of lease incentives are recognised in the statement of

income over the term of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 62 (2018 - 61 ) .

4.	AUDITORS' REMUNERATION

2019

2018

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

11,500

13,500

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2018

and 30 September 2019

1,441,500

AMORTISATION

At 1 October 2018

and 30 September 2019

1,441,500

NET BOOK VALUE

At 30 September 2019

-

At 30 September 2018

-

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2018

117,624

Additions

21,302

At 30 September 2019

138,926

DEPRECIATION

At 1 October 2018

77,131

Charge for year

22,163

At 30 September 2019

99,294

NET BOOK VALUE

At 30 September 2019

39,632

At 30 September 2018

40,493

7.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Trade debtors

1,599,162

1,742,159

Amounts owed by parent company

96,782

135,693

Amounts owed by group companies

18,516

18,516

Amounts recoverable on contracts

78,500

109,450

Other debtors

258,390

159,544

2,051,350

2,165,362

2019

2018

£

£

Amounts falling due after more than one year:

Other debtors

-

42,296

Aggregate amounts

2,051,350

2,207,658

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Payments on account

27,255

9,840

Trade creditors

210,083

158,145

Taxation and social security

660,424

761,397

Other creditors

210,413

147,067

1,108,175

1,076,449

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

168,195

221,078

Between one and five years

261,400

188,846

429,595

409,924

Since the year end, the company has entered into a commitment to extend the lease for the London office for a

period of three months totalling £35,246 (2018: £Nil).

10.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2019

2018

value:

£

£

185

Ordinary

£1

185

185

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Peter Nicholls (Senior Statutory Auditor)

for and on behalf of Bessler Hendrie LLP

12.	GUARANTEES AND OTHER FINANCIAL COMMITMENTS

The company and certain other UK group companies have entered into cross guarantees in respect of a bank

overdraft, which has a group limit of £500,000 (2018: £500,000). This facility is held with HSBC Bank Plc and includes

a fixed and floating charge over all assets of the relevant companies.

13.	RELATED PARTY TRANSACTIONS

The company has taken advantage of the exemption conferred by The Financial Reporting Standard 102 Section 33

'Related party disclosures.' This allows for transactions with members of the group headed by MDA Holdings Limited

not to be disclosed on the grounds that 100% of the voting rights in the company are controlled within the group.

The company is included in the consolidated financial statements of MDA Holdings Limited.

14.	ULTIMATE PARENT COMPANY

The ultimate parent company is MDA Holdings Limited, a company registered in England and Wales. The

consolidated financial statements for MDA Holdings can be obtained from the parent's registered office: The Bell

Building, 1 Norfolk Row, London SE1 7JP.