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REGISTERED NUMBER: 02342636 (England and Wales)















Unaudited Financial Statements

for the Period 1 April 2022 to 31 August 2023

for

McNaughton Bailey Limited

McNaughton Bailey Limited (Registered number: 02342636)






Contents of the Financial Statements
for the Period 1 April 2022 to 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


McNaughton Bailey Limited

Company Information
for the Period 1 April 2022 to 31 August 2023







DIRECTORS: KW Pepperell
CAB Pepperell





SECRETARY: CAB Pepperell





REGISTERED OFFICE: Capsicum House
London Road
Milton Common
Oxford
OX9 2NU





REGISTERED NUMBER: 02342636 (England and Wales)





ACCOUNTANTS: Morley & Co (UK) Ltd
Chartered Certified Accountants,
2 Cricklade Court
Old Town
Swindon
Wiltshire
SN1 3EY

McNaughton Bailey Limited (Registered number: 02342636)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 2,648

CURRENT ASSETS
Stocks - 1,370
Debtors 5 - 4,267
Cash at bank 41,826 40,063
41,826 45,700
CREDITORS
Amounts falling due within one year 6 16,867 6,709
NET CURRENT ASSETS 24,959 38,991
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,959

41,639

PROVISIONS FOR LIABILITIES - 453
NET ASSETS 24,959 41,186

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 14,959 31,186
SHAREHOLDERS' FUNDS 24,959 41,186

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 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.

McNaughton Bailey Limited (Registered number: 02342636)

Balance Sheet - continued
31 August 2023


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 Board of Directors and authorised for issue on 18 October 2023 and were signed on its behalf by:





KW Pepperell - Director


McNaughton Bailey Limited (Registered number: 02342636)

Notes to the Financial Statements
for the Period 1 April 2022 to 31 August 2023

1. STATUTORY INFORMATION

McNaughton Bailey 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost

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

Basic financial instruments
Basic financial instruments, including trade and other receivables and payables, cash and bank balances, bank loans and loans to or from other group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

Taxation
Taxation for the period 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.


McNaughton Bailey Limited (Registered number: 02342636)

Notes to the Financial Statements - continued
for the Period 1 April 2022 to 31 August 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 period 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 6,577 6,255 9,424 22,256
Disposals (6,577 ) (6,255 ) (9,424 ) (22,256 )
At 31 August 2023 - - - -
DEPRECIATION
At 1 April 2022 5,812 4,372 9,424 19,608
Charge for period 641 743 - 1,384
Eliminated on disposal (6,453 ) (5,115 ) (9,424 ) (20,992 )
At 31 August 2023 - - - -
NET BOOK VALUE
At 31 August 2023 - - - -
At 31 March 2022 765 1,883 - 2,648

McNaughton Bailey Limited (Registered number: 02342636)

Notes to the Financial Statements - continued
for the Period 1 April 2022 to 31 August 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 3,151
Other debtors - 1,116
- 4,267

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 890
Taxation and social security (1,045 ) 3,008
Other creditors 17,912 2,811
16,867 6,709

7. RELATED PARTY DISCLOSURES

At the balance sheet date, the directors were owed the sum of £16,062 (2022 - £1,137) by the company, by way of a director's loan. This was loaned interest free and is repayable on demand.