COMPANY REGISTRATION NUMBER:
11839821
Design MEP Holdings Limited
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Filleted Unaudited Financial Statements
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Design MEP Holdings Limited
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Statement of Financial Position
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31 March 2020
Fixed assets
Current assets
Debtors
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5
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240
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Cash at bank and in hand
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76,604
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--------
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76,844
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Creditors: amounts falling due within one year
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6
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75,875
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--------
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Net current assets
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969
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-------
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Total assets less current liabilities
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1,089
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-------
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Net assets
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1,089
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-------
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Capital and reserves
Called up share capital
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240
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Profit and loss account
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849
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-------
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Shareholders funds
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1,089
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-------
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Design MEP Holdings Limited
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Statement of Financial Position (continued)
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31 March 2020
These financial statements were approved by the
board of directors
and authorised for issue on
30 November 2020
, and are signed on behalf of the board by:
Mr A Bourne
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Mr G Costello
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Director
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Director
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Company registration number:
11839821
Design MEP Holdings Limited
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Notes to the Financial Statements
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Period from 21 February 2019 to 31 March 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 21 Wellington Street, Leicester, LE1 6HH, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered 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 reporting date that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
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 the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Investments
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Shares in group undertakings
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£
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Cost
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At 21 February 2019
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–
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Additions
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120
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At 31 March 2020
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120
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Impairment
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At 21 February 2019 and 31 March 2020
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–
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----
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Carrying amount
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At 31 March 2020
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120
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5.
Debtors
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31 Mar 20
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£
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Other debtors
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240
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----
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6.
Creditors:
amounts falling due within one year
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31 Mar 20
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£
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Amounts owed to group undertakings and undertakings in which the company has a participating interest
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75,120
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Corporation tax
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77
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Other creditors
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678
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75,875
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