Registered number
12388881
Macclancy and Sons Ltd
Filleted Accounts
5 April 2022
Macclancy and Sons Ltd
Registered number: 12388881
Balance Sheet
as at 5 April 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 6,857 4,947
Current assets
Stocks 1,418 2,509
Debtors 4 116,545 28,167
Cash at bank and in hand 71,083 21,620
189,046 52,296
Creditors: amounts falling due within one year 5 (119,322) (45,105)
Net current assets 69,724 7,191
Total assets less current liabilities 76,581 12,138
Provisions for liabilities (1,303) (940)
Net assets 75,278 11,198
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 74,278 10,198
Shareholders' funds 75,278 11,198
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
James Macclancy
Director
Approved by the board on 10 August 2022
Macclancy and Sons Ltd
Notes to the Accounts
for the year ended 5 April 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 6 April 2021 5,437
Additions 3,213
At 5 April 2022 8,650
Depreciation
At 6 April 2021 490
Charge for the year 1,303
At 5 April 2022 1,793
Net book value
At 5 April 2022 6,857
At 5 April 2021 4,947
4 Debtors 2022 2021
£ £
Trade debtors 78,240 28,167
Other debtors 33,922 -
Director's Account 4,383 -
116,545 28,167
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 56,065 15,143
Taxation and social security costs 63,257 15,400
Other creditors - 14,562
119,322 45,105
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
James Macclancy
Directors Loan account 9,857 - - 9,857
9,857 - - 9,857
The above loan will be repaid to the company within 9 months of the year ending 05/04/2022
7 Controlling party
The ultimate controlling parties during the period; Matthew Macclancy and James Macclancy
Matthew Macclancy and James Macclancy each hold 50% of the issued share capital and are deemed the ultimate controlling parties
8 Other information
Macclancy and Sons Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Bristol Office
2nd Floor
5 High Street
Westbury On Trym
BS9 3BY
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