MD Flooring Solutions Limited Filleted accounts for Companies House (small and micro)
MD Flooring Solutions Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
05043696
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FINANCIAL STATEMENTS |
YEAR ENDED 31 JULY 2021
CONTENTS |
PAGE |
Statement of financial position |
1 |
Notes to the financial statements |
3 |
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STATEMENT OF FINANCIAL POSITION |
2021 |
2020 |
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Note |
£ |
£ |
FIXED ASSETS
Tangible assets |
5 |
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CURRENT ASSETS
Stocks |
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Debtors |
6 |
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Cash at bank and in hand |
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CREDITORS: amounts falling due within one year |
7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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(
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CREDITORS: amounts falling due after more than one year |
8 |
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NET ASSETS/(LIABILITIES) |
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(
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STATEMENT OF FINANCIAL POSITION (continued) |
2021 |
2020 |
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Note |
£ |
£ |
CAPITAL AND RESERVES
Called up share capital |
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Profit and loss account |
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SHAREHOLDERS FUNDS/(DEFICIT) |
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In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
Director's responsibilities:
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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
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
26 April 2022
, and are signed on behalf of the board by:
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Director |
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Company registration number:
05043696
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NOTES TO THE FINANCIAL STATEMENTS |
YEAR ENDED 31 JULY 2021
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Onega House, 112 Main Road, Sidcup, Kent, DA14 6NE, United Kingdom.
2.
ACCOUNTING POLICIES
Basis of preparation
Judgements and key sources of estimation uncertainty
Revenue recognition
Taxation
Foreign currencies
Operating leases
Tangible assets
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:
Fixtures & Fittings |
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Motor Vehicles |
- |
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Office Equipment |
- |
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Impairment of fixed assets
Stocks
Government grants
Financial instruments
3.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
1
(2020:
1
).
4.
TAX ON PROFIT
Major components of tax expense
2021 |
2020 |
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£ |
£ |
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Current tax:
UK current tax expense |
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Tax on profit |
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5.
TANGIBLE ASSETS
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 August 2020 |
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Additions |
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– |
– |
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At 31 July 2021 |
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Depreciation |
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At 1 August 2020 |
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Charge for the year |
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– |
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At 31 July 2021 |
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Carrying amount |
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At 31 July 2021 |
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– |
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At 31 July 2020 |
– |
– |
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6.
DEBTORS
2021 |
2020 |
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£ |
£ |
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Trade debtors |
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– |
Other debtors |
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7.
CREDITORS:
amounts falling due within one year
2021 |
2020 |
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£ |
£ |
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Bank loans and overdrafts |
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– |
Trade creditors |
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– |
Corporation tax |
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Social security and other taxes |
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Credit card |
3,851 |
960 |
Other creditors |
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8.
CREDITORS:
amounts falling due after more than one year
2021 |
2020 |
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£ |
£ |
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Bank loans and overdrafts |
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9.
GOVERNMENT GRANTS
The amounts recognised in the financial statements for government grants are as follows:
2021 |
2020 |
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£ |
£ |
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Recognised in other operating income:
Government grants recognised directly in income |
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10.
OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2021 |
2020 |
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£ |
£ |
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Not later than 1 year |
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Later than 1 year and not later than 5 years |
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11.
DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
At 31st July 2021 the director owed MD Flooring Solutions Limited £8,331 (2020: nil). There are no terms attached to the loan provided to the director and it has been provided by the company interest free.