4 30/11/2022 2022-11-30 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2021-12-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP NI674044 2021-12-01 2022-11-30 NI674044 2022-11-30 NI674044 2021-11-30 NI674044 2020-12-01 2021-11-30 NI674044 2021-11-30 NI674044 core:PlantMachinery 2021-12-01 2022-11-30 NI674044 core:FurnitureFittingsToolsEquipment 2021-12-01 2022-11-30 NI674044 bus:Director1 2021-12-01 2022-11-30 NI674044 core:PlantMachinery 2021-11-30 NI674044 core:PlantMachinery 2022-11-30 NI674044 core:FurnitureFittingsToolsEquipment 2022-11-30 NI674044 core:WithinOneYear 2022-11-30 NI674044 core:WithinOneYear 2021-11-30 NI674044 core:ShareCapital 2022-11-30 NI674044 core:ShareCapital 2021-11-30 NI674044 core:RetainedEarningsAccumulatedLosses 2022-11-30 NI674044 core:RetainedEarningsAccumulatedLosses 2021-11-30 NI674044 core:PlantMachinery 2021-11-30 NI674044 bus:SmallEntities 2021-12-01 2022-11-30 NI674044 bus:AuditExempt-NoAccountantsReport 2021-12-01 2022-11-30 NI674044 bus:FullAccounts 2021-12-01 2022-11-30 NI674044 bus:SmallCompaniesRegimeForAccounts 2021-12-01 2022-11-30 NI674044 bus:PrivateLimitedCompanyLtd 2021-12-01 2022-11-30 NI674044 1 2021-12-01 2022-11-30
Company registration number: NI674044
McIntyre Engineering & Construction Ltd
Unaudited filleted financial statements
30 November 2022
McIntyre Engineering & Construction Ltd
Contents
Statement of financial position
Notes to the financial statements
McIntyre Engineering & Construction Ltd
Statement of financial position
30 November 2022
2022 2021
Note £ £ £ £
Fixed assets
Tangible assets 5 256,061 101,131
________ ________
256,061 101,131
Current assets
Stocks 88,558 72,358
Debtors 6 34,673 212,174
Cash at bank and in hand 94,958 1,871
________ ________
218,189 286,403
Creditors: amounts falling due
within one year 7 ( 83,779) ( 163,428)
________ ________
Net current assets 134,410 122,975
________ ________
Total assets less current liabilities 390,471 224,106
Provisions for liabilities ( 64,015) ( 19,215)
________ ________
Net assets 326,456 204,891
________ ________
Capital and reserves
Called up share capital 100 100
Profit and loss account 326,356 204,791
________ ________
Shareholder funds 326,456 204,891
________ ________
For the year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 October 2023 , and are signed on behalf of the board by:
Mr Brendan McIntyre
Director
Company registration number: NI674044
McIntyre Engineering & Construction Ltd
Notes to the financial statements
Year ended 30 November 2022
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 18a Bridge Road, Aghagallon, Lurgan, BT67 9LA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and in accordance with the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Taxation
Current tax is recognised on taxable profit for the current and past periods. It is measured at the amount expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences. Deferred tax assets and liabilities recognised have not been discounted.
Tangible assets
the tangible fixed assets are recorded at their purchase cost, together with any incidential costs of acquisition less accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % straight line
Fittings fixtures and equipment - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event; it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
Financial instruments
The fair values of the company's financial assets, cash and cash equivalents and financial liabilities are assumed to approximate to their book value. The company does not enter into derivative financial instruments.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2021: 3 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 December 2021 134,842 - 134,842
Additions 274,891 968 275,859
Disposals ( 36,500) - ( 36,500)
________ ________ ________
At 30 November 2022 373,233 968 374,201
________ ________ ________
Depreciation
At 1 December 2021 33,711 - 33,711
Charge for the year 93,312 242 93,554
Disposals ( 9,125) - ( 9,125)
________ ________ ________
At 30 November 2022 117,898 242 118,140
________ ________ ________
Carrying amount
At 30 November 2022 255,335 726 256,061
________ ________ ________
At 30 November 2021 101,131 - 101,131
________ ________ ________
6. Debtors
2022 2021
£ £
Trade debtors 120 184,992
Other debtors 34,553 27,182
________ ________
34,673 212,174
________ ________
7. Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 19,309 121,826
Corporation tax 37,968 30,420
Social security and other taxes 13,325 -
Other creditors 13,177 11,182
________ ________
83,779 163,428
________ ________
8. Directors advances, credits and guarantees
The company had a loan to the director, B McIntyre, and the balance owed at the year end amounted to £8, 948 (2021- £225 owed by the director). The loan is interest free and has no date for repayment.
9. Controlling party
The company is controlled by B McIntyre who owns 100% of the ordinary share capital.
10. Covid-19 pandemic
In this period of enormous uncertainty it is extremely difficult to make future predictions but the directors consider that the impact of Covid-19 will be a temporary disruption and will ultimately pass. Given the widespread government-led support to businesses, including certain guidance to banks, certain risks are mitigated. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.