Company Registration No. NI034073 (Northern Ireland)
M.R. CONCRETE LIMITED
Unaudited accounts
for the year ended 31 March 2022
M.R. CONCRETE LIMITED
Unaudited accounts
Contents
M.R. CONCRETE LIMITED
Company Information
for the year ended 31 March 2022
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 2022
Tangible assets
5,533,428
4,857,439
Debtors
1,961,805
1,865,831
Cash at bank and in hand
53,964
785,135
Creditors: amounts falling due within one year
(1,205,507)
(591,612)
Net current assets
810,262
2,059,354
Total assets less current liabilities
6,343,690
6,916,793
Creditors: amounts falling due after more than one year
(358,890)
(468,921)
Provisions for liabilities
Deferred tax
(353,238)
(438,672)
Net assets
5,631,562
6,009,200
Called up share capital
10
10
Profit and loss account
5,631,552
6,009,190
Shareholders' funds
5,631,562
6,009,200
For the year ending 31 March 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 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.
The financial statements were approved by the Board of Directors and authorised for issue on 6 January 2023 and were signed on its behalf by
Matthew Rodden
Director
Company Registration No. NI034073
M.R. CONCRETE LIMITED
Notes to the Accounts
for the year ended 31 March 2022
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.
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.
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.
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.
M.R. CONCRETE LIMITED
Notes to the Accounts
for the year ended 31 March 2022
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2021
1,833,926
6,080,730
239,805
8,154,461
Additions
246,913
1,250,090
-
1,497,003
At 31 March 2022
2,080,839
7,330,820
239,805
9,651,464
At 1 April 2021
93,280
3,045,980
157,762
3,297,022
Charge for the year
13,418
780,752
26,844
821,014
At 31 March 2022
106,698
3,826,732
184,606
4,118,036
At 31 March 2022
1,974,141
3,504,088
55,199
5,533,428
At 31 March 2021
1,740,646
3,034,750
82,043
4,857,439
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
1,369,406
1,524,048
Amounts falling due within one year
Trade debtors
1,115,871
846,690
Accrued income and prepayments
-
100,000
Other debtors
845,934
919,141
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
8,012
-
Obligations under finance leases and hire purchase contracts
354,625
342,934
Trade creditors
348,571
161,359
Taxes and social security
97,801
66,492
Other creditors
369,228
-
Loans from directors
27,270
20,827
7
Creditors: amounts falling due after more than one year
2022
2021
Obligations under finance leases and hire purchase contracts
358,890
468,921
M.R. CONCRETE LIMITED
Notes to the Accounts
for the year ended 31 March 2022
8
Share capital
2022
2021
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10
10
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to Director
272,579
-
-
272,579
During the year Matthew Rodden paid £5,455 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.
11
Average number of employees
During the year the average number of employees was 12 (2021: 13).