Company Registration No. 06165957 (England and Wales)
MMG BUILDING SERVICES & DEVELOPMENTS LIMITED
Unaudited accounts
for the year ended 31 March 2019
MMG BUILDING SERVICES & DEVELOPMENTS LIMITED
Unaudited accounts
Contents
MMG BUILDING SERVICES & DEVELOPMENTS LIMITED
Company Information
for the year ended 31 March 2019
Company Number
06165957 (England and Wales)
Registered Office
129 COLNEY HATCH LANE
LONDON
N10 1HD
Accountants
CONSTANTINE SAVVA
129 COLNEY HATCH LANE
MUSWELL HILL
LONDON
N10 1HD
MMG BUILDING SERVICES & DEVELOPMENTS LIMITED
Statement of financial position
as at 31 March 2019
Tangible assets
126,299
108,743
Cash at bank and in hand
77,893
44,929
Creditors: amounts falling due within one year
(400,243)
(287,608)
Net current assets
697,434
456,866
Total assets less current liabilities
823,733
565,609
Creditors: amounts falling due after more than one year
-
(485)
Provisions for liabilities
Deferred tax
(23,467)
(19,612)
Net assets
800,266
545,512
Called up share capital
100
100
Profit and loss account
800,166
545,412
Shareholders' funds
800,266
545,512
For the year ending 31 March 2019 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.
Approved by the Board on 5 December 2019.
Mr M. Georgiou
Director
Company Registration No. 06165957
MMG BUILDING SERVICES & DEVELOPMENTS LIMITED
Notes to the Accounts
for the year ended 31 March 2019
MMG BUILDING SERVICES & DEVELOPMENTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06165957. The registered office is 129 COLNEY HATCH LANE, LONDON, N10 1HD.
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 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. In respect of long-term contracts, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts is recognised by reference to the stage of completion.
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
25% reducing balance
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 assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
MMG BUILDING SERVICES & DEVELOPMENTS LIMITED
Notes to the Accounts
for the year ended 31 March 2019
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2018
144,864
72,010
216,874
Additions
36,600
27,530
64,130
Disposals
-
(11,995)
(11,995)
At 31 March 2019
181,464
87,545
269,009
At 1 April 2018
74,267
33,864
108,131
Charge for the year
26,800
15,300
42,100
On disposals
-
(7,521)
(7,521)
At 31 March 2019
101,067
41,643
142,710
At 31 March 2019
80,397
45,902
126,299
At 31 March 2018
70,597
38,146
108,743
Trade debtors
92,896
141,203
Accrued income and prepayments
395,043
106,992
Other debtors
531,845
451,350
6
Creditors: amounts falling due within one year
2019
2018
Obligations under finance leases and hire purchase contracts
-
3,565
Trade creditors
144,845
206,135
Taxes and social security
153,451
24,214
Other creditors
97,446
31,493
7
Creditors: amounts falling due after more than one year
2019
2018
Obligations under finance leases and hire purchase contracts
-
485
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Unsecured interest-free loan in other debtors
449,801
254,344
278,000
426,145
449,801
254,344
278,000
426,145
MMG BUILDING SERVICES & DEVELOPMENTS LIMITED
Notes to the Accounts
for the year ended 31 March 2019
9
Average number of employees
During the year the average number of employees was 10 (2018: 4).
