1 February 2022 false No description of principal activity Taxfiler 2023.9.1 07919496business:PrivateLimitedCompanyLtd2022-02-012023-01-31 079194962022-01-31 079194962022-02-012023-01-31 07919496business:AuditExemptWithAccountantsReport2022-02-012023-01-31 07919496business:FilletedAccounts2022-02-012023-01-31 079194962023-01-31 07919496business:Director12022-02-012023-01-31 07919496business:RegisteredOffice2022-02-012023-01-31 079194962022-01-31 07919496core:WithinOneYear2023-01-31 07919496core:WithinOneYear2022-01-31 07919496core:AfterOneYear2023-01-31 07919496core:AfterOneYear2022-01-31 07919496core:ShareCapitalcore:PreviouslyStatedAmount2023-01-31 07919496core:ShareCapitalcore:PreviouslyStatedAmount2022-01-31 07919496core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-01-31 07919496core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-01-31 07919496core:PreviouslyStatedAmount2023-01-31 07919496core:PreviouslyStatedAmount2022-01-31 07919496business:SmallEntities2022-02-012023-01-31 07919496countries:EnglandWales2022-02-012023-01-31 07919496core:PlantMachinery2022-02-012023-01-31 07919496core:MotorVehicles2022-02-012023-01-31 07919496core:ComputerEquipment2022-02-012023-01-31 07919496core:PlantMachinery2022-01-31 07919496core:PlantMachinery2023-01-31 07919496business:Director112022-02-012023-01-31 07919496business:Director112022-01-31 07919496business:Director112023-01-31 079194962021-02-012022-01-31 iso4217:GBP xbrli:pure
Company Registration No. 07919496 (England and Wales)
Macelec Limited Unaudited accounts for the year ended 31 January 2023
Macelec Limited Unaudited accounts Contents
Page
- 2 -
Macelec Limited Company Information for the year ended 31 January 2023
Director
Simon McNaughton
Company Number
07919496 (England and Wales)
Registered Office
37 Fern Road St Leonards On Sea East Sussex TN38 0UJ
Accountants
RDM Accountancy Services Ltd 69 Mount Pleasant Road Hastings East Sussex TN34 3SJ
- 3 -
Macelec Limited Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
8,581 
11,441 
Current assets
Debtors
8,592 
8,170 
Cash at bank and in hand
5,918 
11,507 
14,510 
19,677 
Creditors: amounts falling due within one year
(13,213)
(13,002)
Net current assets
1,297 
6,675 
Total assets less current liabilities
9,878 
18,116 
Creditors: amounts falling due after more than one year
(11,856)
(18,583)
Provisions for liabilities
Other provisions
(1,631)
(2,174)
Net liabilities
(3,609)
(2,641)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(3,611)
(2,643)
Shareholders' funds
(3,609)
(2,641)
For the year ending 31 January 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 October 2023 and were signed on its behalf by
Simon McNaughton Director Company Registration No. 07919496
- 4 -
Macelec Limited Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
Macelec Limited is a private company, limited by shares, registered in England and Wales, registration number 07919496. The registered office is 37 Fern Road, St Leonards On Sea, East Sussex, TN38 0UJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: [Previously computer equipment was depreciated on a straight line basis. Therefore the residual value will be written off over a longer period of time]
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Computer equipment
25% Reducing Balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
- 5 -
Macelec Limited Notes to the Accounts for the year ended 31 January 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 February 2022
26,725 
At 31 January 2023
26,725 
Depreciation
At 1 February 2022
15,284 
Charge for the year
2,860 
At 31 January 2023
18,144 
Net book value
At 31 January 2023
8,581 
At 31 January 2022
11,441 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
530 
493 
Other debtors
8,062 
7,677 
8,592 
8,170 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
3,195 
3,195 
Taxes and social security
5,489 
5,278 
Other creditors
3,729 
3,729 
Accruals
800 
800 
13,213 
13,002 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
8,056 
11,055 
Obligations under finance leases and hire purchase contracts
3,800 
7,528 
11,856 
18,583 
- 6 -
Macelec Limited Notes to the Accounts for the year ended 31 January 2023
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Simon McNaughton
Directors Loan Account
7,677 
1,358 
973 
8,062 
7,677 
1,358 
973 
8,062 
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
- 7 -