Company Registration No. NI034073 (Northern Ireland)
M.R. CONCRETE LIMITED
Unaudited accounts
for the year ended 31 March 2017
M.R. CONCRETE LIMITED
Unaudited accounts
Contents
M.R. CONCRETE LIMITED
Company Information
for the year ended 31 March 2017
Directors
Matthew Rodden
Sinead Rodden
Company Number
NI034073 (Northern Ireland)
Registered Office
154 ARDANLEE
CULMORE ROAD
DERRY
BT48 8RT
Accountants
Michael Stafford & Co
1 Woodlee
Culmore
Londonderry
BT48 8GA
M.R. CONCRETE LIMITED
Statement of financial position
as at
31 March 2017
Tangible assets
2,455,907
2,187,357
Debtors
1,629,409
1,157,590
Cash at bank and in hand
29,454
152,787
Creditors: amounts falling due within one year
(584,850)
(476,854)
Net current assets
1,077,163
838,303
Total assets less current liabilities
3,533,070
3,025,660
Creditors: amounts falling due after more than one year
(87,996)
(128,112)
Provisions for liabilities
Deferred tax
(103,155)
(122,249)
Net assets
3,341,919
2,775,299
Called up share capital
10
10
Profit and loss account
3,341,909
2,775,289
Shareholders' funds
3,341,919
2,775,299
For the year ending 31 March 2017 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 directors acknowledge their 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.
Approved by the Board on 23 January 2018.
Matthew Rodden
Director
Company Registration No. NI034073
M.R. CONCRETE LIMITED
Notes to the Accounts
for the year ended 31 March 2017
M.R. CONCRETE LIMITED is a private company, limited by shares, registered in Northern Ireland, registration number NI034073. The registered office is 154 ARDANLEE, CULMORE ROAD, DERRY, BT48 8RT.
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.
These financial statements for the year ended
31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in note
13 below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% Straight Line
Plant & machinery
15% Straight Line
Motor vehicles
20% Straight Line
Other tangible fixed assets
Investment Property is not Depreciated
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
M.R. CONCRETE LIMITED
Notes to the Accounts
for the year ended 31 March 2017
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2016
1,334,245
2,775,699
105,583
4,215,527
Additions
-
560,039
-
560,039
At 31 March 2017
1,334,245
3,335,738
105,583
4,775,566
At 1 April 2016
50,880
1,908,280
69,010
2,028,170
Charge for the year
8,480
272,519
10,490
291,489
At 31 March 2017
59,360
2,180,799
79,500
2,319,659
At 31 March 2017
1,274,885
1,154,939
26,083
2,455,907
At 31 March 2016
1,283,365
867,419
36,573
2,187,357
Finished goods
3,150
4,780
Trade debtors
1,232,901
894,304
Other debtors
396,508
263,286
7
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
3,175
8,318
Obligations under finance leases and hire purchase contracts
174,143
206,521
Trade creditors
117,663
170,111
Taxes and social security
203,706
88,560
Other creditors
85,858
2,939
Loans from directors
305
405
8
Creditors: amounts falling due after more than one year
2017
2016
Obligations under finance leases and hire purchase contracts
87,996
128,112
M.R. CONCRETE LIMITED
Notes to the Accounts
for the year ended 31 March 2017
9
Share capital
2017
2016
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10
10
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to Director
196,417
76,132
-
272,549
During the year Matthew Rodden paid £8,175 in respect of interest on the loan advanced by the company to him.
Matthew Rodden, a director and the company's sole shareholder, is considered to be the controlling party.
12
Average number of employees
During the year the average number of employees was 10 (2016: 9).
13
Reconciliations on adoption of FRS 102
No transitional adjustments were required.