MPMH Construction Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC267394 (Scotland)

Unaudited Financial Statements

for the Year Ended

31 May 2019

for

MPMH CONSTRUCTION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

H Hill

G Hancock

J B Snodgrass

REGISTERED OFFICE:

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

REGISTERED NUMBER:

SC267394 (Scotland)

ACCOUNTANTS:

WDM Associates

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

FIXED ASSETS

Tangible assets

4

30,237

32,012

Investments

5

100

100

30,337

32,112

CURRENT ASSETS

Stocks

1,080,151

1,181,997

Debtors

6

1,115,765

460,080

Cash at bank

139,385

19,384

2,335,301

1,661,461

CREDITORS

Amounts falling due within one year

7

(1,913,514

)

(1,288,132

)

NET CURRENT ASSETS

421,787

373,329

TOTAL ASSETS LESS CURRENT LIABILITIES

452,124

405,441

CREDITORS

Amounts falling due after more than one year

8

(73,864

)

(72,829

)

PROVISIONS FOR LIABILITIES

(3,227

)

(945

)

NET ASSETS

375,033

331,667

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

374,033

330,667

SHAREHOLDERS' FUNDS

375,033

331,667

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 in accordance with Section 476 of the Companies Act 2006.

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29 January 2020 and were signed on its behalf by:

J B Snodgrass - Director

G Hancock - Director

1.	STATUTORY INFORMATION

MPMH Construction Limited is a private company, limited by shares , registered in Scotland. The company's

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

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

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, whichever is the shorter.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

Basic financial instruments

Basic financial instruments, which include trade and other debtors and cash and bank balances, are initially

measured at transaction price including transaction costs and are subsequently carried at amortised cost.

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 tax

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the

shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2018 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2018

5,958

69,106

17,697

92,761

Additions

-

11,700

7,460

19,160

Disposals

-

(43,069

)

-

(43,069

)

At 31 May 2019

5,958

37,737

25,157

68,852

DEPRECIATION

At 1 June 2018

1,536

46,525

12,688

60,749

Charge for year

884

5,629

2,653

9,166

Eliminated on disposal

-

(31,300

)

-

(31,300

)

At 31 May 2019

2,420

20,854

15,341

38,615

NET BOOK VALUE

At 31 May 2019

3,538

16,883

9,816

30,237

At 31 May 2018

4,422

22,581

5,009

32,012

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 June 2018

45,803

Additions

11,700

Disposals

(29,641

)

At 31 May 2019

27,862

DEPRECIATION

At 1 June 2018

27,332

Charge for year

5,199

Eliminated on disposal

(20,262

)

At 31 May 2019

12,269

NET BOOK VALUE

At 31 May 2019

15,593

At 31 May 2018

18,471

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 June 2018

and 31 May 2019

100

NET BOOK VALUE

At 31 May 2019

100

At 31 May 2018

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

884,862

237,015

Amounts owed by group undertakings

223,065

223,065

Prepayments

7,838

-

1,115,765

460,080

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

8,703

19,439

Trade creditors

1,144,584

940,566

Tax

12,425

3,362

Social security and other taxes

148,417

29,300

VAT

106,809

20,086

Due to RHH Scotland Ltd

102,536

115,704

Due to factors

318,045

69,767

Accrued expenses

71,995

89,908

1,913,514

1,288,132

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

3,864

2,829

Other creditors

70,000

70,000

73,864

72,829

9.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Hire purchase contracts

12,567

22,268

Due to factors

318,045

69,767

330,612

92,035

Hire purchase creditors are secured over the assets concerned. The amount due to factors is secured by a

floating charge over all the property and undertakings of the company.