McGarry Flooring and Contracts Ltd |
Registered Number:SC228845 |
For the year ended 31 March 2023
Scotland
Unaudited Financial Statements
For the year ended 31 March 2023
McGarry Flooring and Contracts Ltd
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
McGarry Flooring and Contracts Ltd
Statement of Financial Position
2022
2023
Property, plant and equipment |
42,383
47,643
2
50
50
3
42,433
47,693
876,644
269,602
4
Trade and other receivables |
242,676
927,429
5
655,805
Cash and cash equivalents |
660,838
1,857,869
1,775,125
Trade and other payables: amounts falling due within one |
year |
(506,266)
(547,445)
6
1,268,859
1,310,424
Net current assets
Total assets less current liabilities |
1,352,857
1,316,552
(625)
(1,362)
Provisions for liabilities |
1,352,232
Net assets
1,315,190
500
500
1,351,732
1,314,690
1,352,232
1,315,190
Shareholders' funds
For the year ended 31 March 2023 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 of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006 |
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the |
end of each financial year and of its profit or loss for each financial year in accordance with the requirements |
of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 |
relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ended 31 March 2023
McGarry Flooring and Contracts Ltd
Statement of Financial Position Continued
These financial statements were approved and authorised for issue by the Board on 12 September 2023 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 March 2023
McGarry Flooring and Contracts Ltd
Notes to the Financial Statements
Statutory Information
McGarry Flooring and Contracts Ltd is a private limited company, limited by shares, domiciled in Scotland, |
registration number SC228845. |
60 Canyon Road
Netherton Industrial Estate
Wishaw
ML2 0EG
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and |
the Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover comprises the invoiced value of services supplied by the company, net of value added tax.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Land and buildings
Plant and machinery
Motor vehicles
Inventories
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 costs and an appropriate proportion of fixed and variable overheads. |
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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For the year ended 31 March 2023
McGarry Flooring and Contracts Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment |
Motor vehicles
102,449
3,595
31,854
67,000
67,000
31,854
3,595
102,449
Provision for depreciation and impairment |
54,806
1,798
26,208
26,800
Charge for year
5,260
899
3,021
1,340
60,066
2,697
29,229
28,140
38,860
2,625
898
42,383
40,200
5,646
1,797
47,643
3. Investments held as fixed assets |
50
50
50
50
50
50
50
50
2022
2023
269,602
876,644
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For the year ended 31 March 2023
McGarry Flooring and Contracts Ltd
Notes to the Financial Statements Continued
5. Trade and other receivables |
2022
2023
637,603
136,508
Amounts owed by group undertakings and participating interests |
252
6,026
289,574
100,142
242,676
927,429
6. Trade and other payables: amounts falling due within one year |
2022
2023
48,529
128,634
401,476
271,830
Taxation and social security |
65,604
77,604
31,836
28,198
547,445
506,266
7. Average number of persons employed |
During the year the average number of employees was 35 (2022 : 31)
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