ACCOUNTS - Final Accounts preparation

MD SERVICES (MIDLANDS) LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-06-302017-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueOther building completion and finishingfalse2016-01-21 09963067 2016-01-20 09963067 2016-01-21 2017-06-30 09963067 2017-06-30 09963067 c:Director2 2016-01-21 2017-06-30 09963067 d:CurrentFinancialInstruments 2017-06-30 09963067 d:CurrentFinancialInstruments d:WithinOneYear 2017-06-30 09963067 d:ShareCapital 2017-06-30 09963067 d:RetainedEarningsAccumulatedLosses 2017-06-30 09963067 c:OrdinaryShareClass1 2016-01-21 2017-06-30 09963067 c:OrdinaryShareClass1 2017-06-30 09963067 c:FRS102 2016-01-21 2017-06-30 09963067 c:AuditExempt-NoAccountantsReport 2016-01-21 2017-06-30 09963067 c:FullAccounts 2016-01-21 2017-06-30 09963067 c:PrivateLimitedCompanyLtd 2016-01-21 2017-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09963067

MD SERVICES (MIDLANDS) LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2017

MD SERVICES (MIDLANDS) LIMITED

REGISTERED NUMBER: 09963067

BALANCE SHEET

AS AT 30 JUNE 2017

		2017
Note		£


Current assets
Debtors: amounts falling due within one year	4	70,877
Cash at bank and in hand		33,033
		103,910
Creditors: amounts falling due within one year	5	(99,922)
Net current assets			3,988
Total assets less current liabilities			3,988

Net assets			3,988

Capital and reserves
Called up share capital			100
Profit and loss account			3,888
			3,988

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 October 2017.

Ravinder Singh Dhami

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

MD SERVICES (MIDLANDS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2017

1.	General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 09963067. The Company's registered office is Unit 3 New Inn Bridge Estate, 998 Foleshill Road, Coventry, United Kingdom, CV6 6EN.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.4

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Page 2

MD SERVICES (MIDLANDS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2017

2.Accounting policies (continued)

2.5

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.6

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

2.7

Taxation

Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including the directors, during the period was as follows:

			2017
			No.

		Average number of employees	2

Debtors

					2017
					£


	Other debtors	67,041
	Prepayments and accrued income	3,836
		70,877

Page 3

MD SERVICES (MIDLANDS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2017

5.	Creditors: Amounts falling due within one year
		2017
		£

	Trade creditors	52,858
	Corporation tax	1,037
	Other creditors	45,527
	Accruals and deferred income	500
		99,922

6.	Share capital
		2017
		£
	Shares classified as equity

		Allotted, called up and fully paid

		100 Ordinary shares of £1 each	100

100 £1 Ordinary shares were issued upon incorporation at par value.

7.	First time adoption of FRS 102 The company transitioned from previously extant UK GAAP to FRS 102 as at 1 April 2016. The transition is not considered to have a material impact on the financial statements, and the financial statements as at and for the year ended 3 June 2017.

Page 4