M. J. Read (Contractors) Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04310259 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

M. J. READ (CONTRACTORS) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M J Read

SECRETARY:

Mrs J R Read

REGISTERED OFFICE:

Hunt House Farm

Frith Common

Tenbury Wells

Worcestershire

WR15 8JY

REGISTERED NUMBER:

04310259 (England and Wales)

ACCOUNTANTS:

Kimberlee & Co

Chartered Accountants

Hunt House Farm

Frith Common

Tenbury Wells

Worcestershire

WR15 8JY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

47,519

63,260

47,519

63,260

CURRENT ASSETS

Stocks

12,119

2,790

Debtors

6

7,360

16,093

Cash at bank

55,359

64,860

74,838

83,743

CREDITORS

Amounts falling due within one year

7

72,877

90,023

NET CURRENT ASSETS/(LIABILITIES)

1,961

(6,280

)

TOTAL ASSETS LESS CURRENT LIABILITIES

49,480

56,980

CREDITORS

Amounts falling due after more than one year

8

(2,500

)

(5,833

)

PROVISIONS FOR LIABILITIES

9

(7,666

)

(10,357

)

NET ASSETS

39,314

40,790

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

39,214

40,690

SHAREHOLDERS' FUNDS

39,314

40,790

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 13 January 2023 and were signed by:

M J Read - Director

1.	STATUTORY INFORMATION

M. J. Read (Contractors) Ltd 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 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance, 20% on reducing balance and 10% 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

50,000

AMORTISATION

At 1 April 2021

and 31 March 2022

50,000

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

and 31 March 2022

266,767

DEPRECIATION

At 1 April 2021

203,507

Charge for year

15,741

At 31 March 2022

219,248

NET BOOK VALUE

At 31 March 2022

47,519

At 31 March 2021

63,260

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

3,614

15,001

Other debtors

3,746

1,092

7,360

16,093

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Hire purchase contracts

3,333

3,333

Trade creditors

1,797

1,635

Taxation and social security

5,601

9,212

Other creditors

62,146

75,843

72,877

90,023

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Hire purchase contracts

2,500

5,833

9.	PROVISIONS FOR LIABILITIES

31.3.22

31.3.21

£

£

Deferred tax

7,666

10,357

Deferred

tax

£

Balance at 1 April 2021

10,357

Credit to Income Statement during year

(2,691

)

Balance at 31 March 2022

7,666

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.22

31.3.21

value:

£

£

100

Ordinary

£1

100

100