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REGISTERED NUMBER: 07081074 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

J.D. MACADAM & SON
(ACCIDENT REPAIRS) LIMITED

J.D. MACADAM & SON
(ACCIDENT REPAIRS) LIMITED (REGISTERED NUMBER: 07081074)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


J.D. MACADAM & SON
(ACCIDENT REPAIRS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: J D D Macadam
Mrs M L Macadam
A J D Macadam
Ms S A Macadam
Mrs H Cope
D Magill





REGISTERED OFFICE: Hyde Park Garage
North Valley Road
Colne
Lancashire
BB8 9RG





REGISTERED NUMBER: 07081074 (England and Wales)





ACCOUNTANTS: Ainsworths Limited
Chartered Accountants
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY

J.D. MACADAM & SON
(ACCIDENT REPAIRS) LIMITED (REGISTERED NUMBER: 07081074)

BALANCE SHEET
31ST MARCH 2023

31.3.23 31.3.22
Notes £    £   
CURRENT ASSETS
Stocks 80,970 75,905
Debtors 4 340,534 360,440
Cash in hand 65 65
421,569 436,410
CREDITORS
Amounts falling due within one year 5 891,166 883,732
NET CURRENT LIABILITIES (469,597 ) (447,322 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(469,597

)

(447,322

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (469,598 ) (447,323 )
SHAREHOLDERS' FUNDS (469,597 ) (447,322 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th September 2023 and were signed on its behalf by:





J D D Macadam - Director


J.D. MACADAM & SON
(ACCIDENT REPAIRS) LIMITED (REGISTERED NUMBER: 07081074)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023


1. STATUTORY INFORMATION

J.D. Macadam & Son (Accident Repairs) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis which assumes that the company will be able to meet its liabilities as they fall due. The parent company, J D Macadam & Son (Garages) Limited, has confirmed that they will provide support for at least 12 months following the approval of these financial statements. If the company were unable to continue to trade, adjustments would have to be made to reduce the value of the assets to their recoverable amounts, to provide for any further liabilities that may arise, and to reclassify fixed assets and any long term liabilities as current assets and liabilities respectively.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

J.D. MACADAM & SON
(ACCIDENT REPAIRS) LIMITED (REGISTERED NUMBER: 07081074)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 16 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 170,293 222,362
Amounts owed by group undertakings 150,414 138,078
Other debtors 19,827 -
340,534 360,440

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 481,972 603,691
Trade creditors 238,181 120,857
Amounts owed to group undertakings 100,790 99,329
Taxation and social security 46,046 40,904
Other creditors 24,177 18,951
891,166 883,732

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year - 36,900
Between one and five years - 150,675
- 187,575

J.D. MACADAM & SON
(ACCIDENT REPAIRS) LIMITED (REGISTERED NUMBER: 07081074)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


7. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank overdrafts 481,972 603,691

The bank overdraft is secured by a cross guarantee as detailed in the "Contingent liabilities" note.

8. CONTINGENT LIABILITIES

J.D. Macadam & Son (Garages) Limited, J.D. Macadam & Son (Rescue) Limited and J.D. Macadam & Son (Accident Repairs) Limited have provided an unlimited intercompany cross guarantee to secure each others' liabilities to the bank.The group's bank borrowings outstanding at 31st March 2023 were £481,972 (2022: £603,391). The security given by J.D. Macadam & Son (Accident Repairs) Limited comprises a debenture over all of the assets of the company.