MDA HOLDINGS LTD
|
ANNUAL REPORT 2017
33
Notes to the Consolidated
Financial Statements
(cont.)
For the year ended 30 September 2017
Retained
earnings
Share
premium
Share
premium
Retained
earnings
Capital
redemption
reserve
Capital
redemption
reserve
Totals
Totals
(£)
(£)
(£)
(£)
(£)
(£)
(£)
(£)
At 1 October 2016
901,470
408,378
1,494
1,311,342
Profit for the year
310,694
-
-
310,694
Dividends
(47,711)
-
-
(47,711)
Purchase of own shares
(206,968)
-
588
(206,380)
Exchange losses on consolidation
10,551
-
-
10,551
At 30 September 2017
968,036
408,378
2,082
1,378,496
At 1 October 2016
1,746
408,378
1,494
411,618
Profit for the year
258,775
-
-
258,775
Dividends
(47,711)
-
-
(47,711)
Purchase of own shares
(206,968)
-
588
(206,380)
At 30 September 2017
5,842
408,378
2,082
416,302
Group
Company
15. Reserves
The company and certain other UK group companies have entered into cross guarantees in respect of a bank overdraft, which
has a group limit of £500,000 (2016: £500,000). This facility is held with HSBC Bank Plc and includes a fixed and floating charge
over all assets of the relevant companies.
During the previous year, a loan of £9,760 was made to R McGuinn, a director of the company. This balance was repaid in full
during the year.
This is the first period that the company has presented its financial statements in accordance with the provisions of Financial
Reporting Standard 102 Section 1A Small Entities (FRS 102 1A) issued by the Financial Reporting Council. The comparative
amounts have been restated accordingly. Therefore the date of transition is 1 October 2015. The last financial statements for the
company that were prepared in accordance with the previous accounting framework were for the period ended 30 September
2016.
There have been no adjustments arising upon transition to FRS 102 1A and as such there has been no impact on the company’s
financial position or financial performance on transition.
16. Guarantees and Other Financial Commitments
17. Directors Advances, Credits and Guarantees
18. Explanation of Transition to FRS 102 Section 1A
