IRIS Accounts Production v23.3.0.418 01055976 director 1.3.22 28.2.23 28.2.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure010559762022-02-28010559762023-02-28010559762022-03-012023-02-28010559762021-02-28010559762021-03-012022-02-28010559762022-02-2801055976ns16:EnglandWales2022-03-012023-02-2801055976ns15:PoundSterling2022-03-012023-02-2801055976ns11:Director12022-03-012023-02-2801055976ns11:PrivateLimitedCompanyLtd2022-03-012023-02-2801055976ns11:SmallEntities2022-03-012023-02-2801055976ns11:AuditExempt-NoAccountantsReport2022-03-012023-02-2801055976ns11:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2801055976ns11:SmallCompaniesRegimeForAccounts2022-03-012023-02-2801055976ns11:FullAccounts2022-03-012023-02-280105597612022-03-012023-02-2801055976ns11:CompanySecretary12022-03-012023-02-2801055976ns11:RegisteredOffice2022-03-012023-02-2801055976ns6:CurrentFinancialInstruments2023-02-2801055976ns6:CurrentFinancialInstruments2022-02-2801055976ns6:Non-currentFinancialInstruments2023-02-2801055976ns6:Non-currentFinancialInstruments2022-02-2801055976ns6:ShareCapital2023-02-2801055976ns6:ShareCapital2022-02-2801055976ns6:RetainedEarningsAccumulatedLosses2023-02-2801055976ns6:RetainedEarningsAccumulatedLosses2022-02-2801055976ns6:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-2801055976ns6:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-03-012023-02-2801055976ns6:PlantMachinery2022-03-012023-02-2801055976ns6:FurnitureFittings2022-03-012023-02-2801055976ns6:MotorVehicles2022-03-012023-02-2801055976ns6:ComputerEquipment2022-03-012023-02-2801055976ns6:IntangibleAssetsOtherThanGoodwill2022-02-2801055976ns6:IntangibleAssetsOtherThanGoodwill2023-02-2801055976ns6:IntangibleAssetsOtherThanGoodwill2022-02-2801055976ns6:PlantMachinery2022-02-2801055976ns6:FurnitureFittings2022-02-2801055976ns6:MotorVehicles2022-02-2801055976ns6:ComputerEquipment2022-02-2801055976ns6:PlantMachinery2023-02-2801055976ns6:FurnitureFittings2023-02-2801055976ns6:MotorVehicles2023-02-2801055976ns6:ComputerEquipment2023-02-2801055976ns6:PlantMachinery2022-02-2801055976ns6:FurnitureFittings2022-02-2801055976ns6:MotorVehicles2022-02-2801055976ns6:ComputerEquipment2022-02-2801055976ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-03-012023-02-2801055976ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2023-02-2801055976ns6:WithinOneYearns6:CurrentFinancialInstruments2023-02-2801055976ns6:WithinOneYearns6:CurrentFinancialInstruments2022-02-2801055976ns6:Secured2023-02-2801055976ns6:Secured2022-02-28
REGISTERED NUMBER: 01055976 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

MCNAMARA CONTRACTORS
LIMITED

MCNAMARA CONTRACTORS
LIMITED (REGISTERED NUMBER: 01055976)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MCNAMARA CONTRACTORS
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: B G McNamara





SECRETARY: Mrs N T Cole





REGISTERED OFFICE: 108 The Hundred
Romsey
Hampshire
SO51 8BY





REGISTERED NUMBER: 01055976 (England and Wales)





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

MCNAMARA CONTRACTORS
LIMITED (REGISTERED NUMBER: 01055976)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 333 1,333
Tangible assets 5 196,081 93,266
196,414 94,599

CURRENT ASSETS
Stocks 58,959 58,959
Debtors 6 1,253,578 989,308
Cash at bank and in hand 279,926 285,809
1,592,463 1,334,076
CREDITORS
Amounts falling due within one year 7 512,845 276,972
NET CURRENT ASSETS 1,079,618 1,057,104
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,276,032

1,151,703

CREDITORS
Amounts falling due after more than one
year

8

(83,854

)

(33,448

)

PROVISIONS FOR LIABILITIES (416 ) -
NET ASSETS 1,191,762 1,118,255

MCNAMARA CONTRACTORS
LIMITED (REGISTERED NUMBER: 01055976)

BALANCE SHEET - continued
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 1,181,762 1,108,255
SHAREHOLDERS' FUNDS 1,191,762 1,118,255

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 October 2023 and were signed by:





B G McNamara - Director


MCNAMARA CONTRACTORS
LIMITED (REGISTERED NUMBER: 01055976)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

McNamara Contractors 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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Websites are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Commercial vehicles - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Equipment - 15% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


MCNAMARA CONTRACTORS
LIMITED (REGISTERED NUMBER: 01055976)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 20 (2022 - 20 ) .

MCNAMARA CONTRACTORS
LIMITED (REGISTERED NUMBER: 01055976)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2022
and 28 February 2023 3,000
AMORTISATION
At 1 March 2022 1,667
Charge for year 1,000
At 28 February 2023 2,667
NET BOOK VALUE
At 28 February 2023 333
At 28 February 2022 1,333

5. TANGIBLE FIXED ASSETS
Plant and Commercial Motor
machinery vehicles vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 496,818 164,846 11,840 59,503 733,007
Additions 96,544 22,500 5,995 3,183 128,222
Disposals - (1,650 ) - - (1,650 )
At 28 February 2023 593,362 185,696 17,835 62,686 859,579
DEPRECIATION
At 1 March 2022 473,622 104,091 10,411 51,617 639,741
Charge for year 4,647 17,490 1,858 1,188 25,183
Eliminated on disposal - (1,426 ) - - (1,426 )
At 28 February 2023 478,269 120,155 12,269 52,805 663,498
NET BOOK VALUE
At 28 February 2023 115,093 65,541 5,566 9,881 196,081
At 28 February 2022 23,196 60,755 1,429 7,886 93,266

MCNAMARA CONTRACTORS
LIMITED (REGISTERED NUMBER: 01055976)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
Additions 96,000
At 28 February 2023 96,000
DEPRECIATION
Charge for year 1,105
At 28 February 2023 1,105
NET BOOK VALUE
At 28 February 2023 94,895

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 362,354 314,276
Amounts recoverable on contract 736,828 510,532
Other debtors 154,396 164,500
1,253,578 989,308

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,579 10,000
Hire purchase contracts 55,954 -
Trade creditors 361,671 196,189
Taxation and social security 17,604 17,590
Other creditors 68,037 53,193
512,845 276,972

MCNAMARA CONTRACTORS
LIMITED (REGISTERED NUMBER: 01055976)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 24,433 33,448
Hire purchase contracts 59,421 -
83,854 33,448

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 34,012 43,448
Hire purchase contracts 115,375 -
149,387 43,448

10. RELATED PARTY DISCLOSURES

TRANSACTIONS WITH COMPANIES UNDER COMMON OWNERSHIP

A non interest bearing loan on which no terms of repayment have been agreed. The amount due from the related party at the balance sheet date amounted to NIL (2022 - £85,000).

TRANSACTIONS WITH SHAREHOLDERS

A non interest bearing loan on which no terms of repayment have been agreed. The amount due to shareholders at the balance sheet date amounted to £25,254 (2022 - £27,318).