Company Registration No. 09197251 (England and Wales)
M D J FRENCH & CO LTD
Unaudited accounts
for the year ended 30 September 2022
M D J FRENCH & CO LTD
Unaudited accounts
Contents
M D J FRENCH & CO LTD
Company Information
for the year ended 30 September 2022
Company Number
09197251 (England and Wales)
Registered Office
Unit 11 Basepoint Busness Centre
15 Jubilee Close
Weymouth
Dorset
DT4 7BS
Accountants
SA Ledgers Ltd
57 Canbury Park Road
Kingston
KT2 6LQ
M D J FRENCH & CO LTD
Statement of financial position
as at 30 September 2022
Intangible assets
95,373
-
Tangible assets
11,914
5,074
Cash at bank and in hand
4,926
115,935
Creditors: amounts falling due within one year
(76,775)
(62,346)
Net current assets
66,631
81,825
Total assets less current liabilities
173,918
86,899
Creditors: amounts falling due after more than one year
(70,200)
(17,338)
Called up share capital
100
100
Profit and loss account
103,618
69,461
Shareholders' funds
103,718
69,561
For the year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 September 2023 and were signed on its behalf by
Shoaib Arshid
Director
Company Registration No. 09197251
M D J FRENCH & CO LTD
Notes to the Accounts
for the year ended 30 September 2022
M D J FRENCH & CO LTD is a private company, limited by shares, registered in England and Wales, registration number 09197251. The registered office is Unit 11 Basepoint Busness Centre, 15 Jubilee Close, Weymouth, Dorset, DT4 7BS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The accounts are presented in £ sterling.
Stocks are valued at the lower of cost and net relaisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade disounts) less all further costs to completion or to be incurred in marketing and selling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing Balance
M D J FRENCH & CO LTD
Notes to the Accounts
for the year ended 30 September 2022
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 transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.
Debtors and creditors that fall due within one year are recorded in the financial statements at transaction price and then subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded within profit or loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt. Debtors do not carry interest and are stated at their nominal value. Trade creditors are not interest-bearing and are stated at their nominal value.
Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.
Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods and is recognised in respect of all timing differences; although with certain exceptions.
Timing differences are differences between taxable profit and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are only recognised to the extent that it is probable that they will be recoverable against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on investment property (and other non-depreciable tangible fixed assets) is measured using the tax rates and allowances which will apply to the sale of the asset.
Amounts of current and deferred tax are generally recognised in profit or loss, except when they relate to items which are recognised in other comprehensive income or directly in equity and in such cases the amounts are also recognised in other comprehensive or equity as the case may be.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
M D J FRENCH & CO LTD
Notes to the Accounts
for the year ended 30 September 2022
4
Intangible fixed assets
Goodwill
At 30 September 2022
105,970
Charge for the year
10,597
At 30 September 2022
10,597
At 30 September 2022
95,373
Goodwill on purchase of brand to be amortised over 10 years
5
Tangible fixed assets
Plant & machinery
At 30 September 2022
23,314
At 30 September 2022
11,400
At 30 September 2022
11,914
At 30 September 2021
5,074
Amounts falling due within one year
Trade debtors
40,433
1,853
Accrued income and prepayments
50,000
-
M D J FRENCH & CO LTD
Notes to the Accounts
for the year ended 30 September 2022
7
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
25,400
-
Trade creditors
15,962
18,756
Taxes and social security
35,357
16,511
8
Creditors: amounts falling due after more than one year
2022
2021
9
Average number of employees
During the year the average number of employees was 26 (2021: 26).
