2022-04-01 SC228845 2023-03-31 SC228845 2022-04-01 2023-03-31 SC228845 2022-03-31 SC228845 2021-04-01 2022-03-31 SC228845 uk-core:WithinOneYear 2022-03-31 SC228845 uk-core:WithinOneYear 2023-03-31 SC228845 uk-core:ShareCapital 2023-03-31 SC228845 uk-core:ShareCapital 2022-03-31 SC228845 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 SC228845 uk-core:RetainedEarningsAccumulatedLosses 2022-03-31 SC228845 uk-bus:Director1 2022-04-01 2023-03-31 SC228845 uk-core:Buildings 2022-04-01 2023-03-31 SC228845 uk-core:PlantMachinery 2022-04-01 2023-03-31 SC228845 uk-core:CommercialMotorVehicles 2022-04-01 2023-03-31 SC228845 uk-core:CommercialMotorVehicles 2022-03-31 SC228845 uk-core:PlantMachinery 2022-03-31 SC228845 uk-core:Buildings 2022-03-31 SC228845 uk-core:Buildings 2023-03-31 SC228845 uk-core:PlantMachinery 2023-03-31 SC228845 uk-core:CommercialMotorVehicles 2023-03-31 SC228845 uk-core:CostValuation 2022-03-31 SC228845 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2022-03-31 SC228845 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2023-03-31 SC228845 uk-core:CostValuation 2023-03-31 SC228845 uk-core:Non-currentFinancialInstruments 2023-03-31 SC228845 uk-core:Non-currentFinancialInstruments 2022-03-31 SC228845 uk-core:WithinOneYear 2023-03-31 SC228845 uk-core:WithinOneYear 2022-03-31 iso4217:GBP xbrli:pure SC228845 uk-bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC228845 uk-bus:FRS102 2022-04-01 2023-03-31 SC228845 uk-bus:FullAccounts 2022-04-01 2023-03-31 SC228845 uk-bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
McGarry Flooring and Contracts Ltd
Registered Number:SC228845
For the year ended 31 March 2023
Scotland
Unaudited Financial Statements
2
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
3
Registered Number :
SC228845
As at 31 March 2023
McGarry Flooring and Contracts Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
42,383
47,643
2
Financial assets
50
50
3
42,433
47,693
Current assets
Inventories
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
Capital and reserves
Called up share capital
500
500
Retained earnings
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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4
Registered Number :
SC228845
For the year ended 31 March 2023
McGarry Flooring and Contracts Ltd
Statement of Financial Position Continued
Liam McGarry Director
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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5
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.
Registered address:
60 Canyon Road
Netherton Industrial Estate
Wishaw
ML2 0EG
The presentation currency is £ sterling.
1. Accounting policies
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
2% Straight line
Plant and machinery
25% Straight line
25% Straight line
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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6
For the year ended 31 March 2023
McGarry Flooring and Contracts Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Motor vehicles
Plant and
machinery
Land and
buildings
£
£
£
£
Cost or
valuation
At 01 April 2022
102,449
3,595
31,854
67,000
At 31 March 2023
67,000
31,854
3,595
102,449
Provision for depreciation and impairment
At 01 April 2022
54,806
1,798
26,208
26,800
Charge for year
5,260
899
3,021
1,340
At 31 March 2023
60,066
2,697
29,229
28,140
At 31 March 2023
Net book value
38,860
2,625
898
42,383
At 31 March 2022
40,200
5,646
1,797
47,643
3. Investments held as fixed assets
Other investments
Total
At 01 April 2022
50
50
Cost
£
£
At 31 March 2023
50
50
At 31 March 2023
Net book value
50
50
At 01 April 2022
50
50
4. Inventories
2022
2023
£
£
Stocks
269,602
876,644
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7
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
£
£
Trade debtors
637,603
136,508
Amounts owed by group undertakings and participating interests
252
6,026
Other debtors
289,574
100,142
242,676
927,429
6. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft
48,529
128,634
Trade creditors
401,476
271,830
Taxation and social security
65,604
77,604
Other creditors
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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