IRIS Accounts Production v23.3.0.418 00362031 Board of Directors 1.7.22 30.6.23 30.6.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh003620312022-06-30003620312023-06-30003620312022-07-012023-06-30003620312021-06-30003620312021-07-012022-06-30003620312022-06-3000362031ns10:Originalns15:EnglandWales2022-07-012023-06-3000362031ns14:PoundSterlingns10:Original2022-07-012023-06-3000362031ns10:Originalns10:Director12022-07-012023-06-3000362031ns10:Original2022-07-012023-06-3000362031ns10:Original2023-06-3000362031ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3000362031ns10:Originalns10:SmallEntities2022-07-012023-06-3000362031ns10:Originalns10:AuditExempt-NoAccountantsReport2022-07-012023-06-3000362031ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3000362031ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3000362031ns10:Originalns10:FullAccounts2022-07-012023-06-3000362031ns10:Originalns10:Director22022-07-012023-06-3000362031ns10:CompanySecretary1ns10:Original2022-07-012023-06-3000362031ns10:Originalns10:RegisteredOffice2022-07-012023-06-3000362031ns10:Original2022-06-3000362031ns10:Originalns5:CurrentFinancialInstruments2023-06-3000362031ns10:Originalns5:CurrentFinancialInstruments2022-06-3000362031ns10:Originalns5:Non-currentFinancialInstruments2023-06-3000362031ns10:Originalns5:Non-currentFinancialInstruments2022-06-3000362031ns5:ShareCapitalns10:Original2023-06-3000362031ns5:ShareCapitalns10:Original2022-06-3000362031ns10:Originalns5:RevaluationReserve2023-06-3000362031ns10:Originalns5:RevaluationReserve2022-06-3000362031ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3000362031ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3000362031ns10:Originalns5:PlantMachinery2022-07-012023-06-3000362031ns10:Originalns5:FurnitureFittings2022-07-012023-06-3000362031ns10:Originalns5:MotorVehicles2022-07-012023-06-3000362031ns10:Original2021-07-012022-06-3000362031ns10:Originalns5:LandBuildings2022-06-3000362031ns10:Originalns5:PlantMachinery2022-06-3000362031ns10:Originalns5:FurnitureFittings2022-06-3000362031ns10:Originalns5:MotorVehicles2022-06-3000362031ns10:Original2022-06-3000362031ns10:Originalns5:LandBuildings2022-07-012023-06-3000362031ns10:Originalns5:LandBuildings2023-06-3000362031ns10:Originalns5:PlantMachinery2023-06-3000362031ns10:Originalns5:FurnitureFittings2023-06-3000362031ns10:Originalns5:MotorVehicles2023-06-3000362031ns10:Originalns5:LandBuildings2022-06-3000362031ns10:Originalns5:PlantMachinery2022-06-3000362031ns10:Originalns5:FurnitureFittings2022-06-3000362031ns10:Originalns5:MotorVehicles2022-06-3000362031ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3000362031ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3000362031ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-06-3000362031ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-06-3000362031ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-06-3000362031ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-06-3000362031ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-06-3000362031ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-06-3000362031ns5:Securedns10:Original2023-06-3000362031ns5:Securedns10:Original2022-06-3000362031ns10:Originalns5:RevaluationReserve2022-06-30
REGISTERED NUMBER: 00362031 (England and Wales)















MACKENZIE TOOLS AND PRODUCTIONS LIMITED

Unaudited Financial Statements for the Year Ended 30 June 2023






MACKENZIE TOOLS AND PRODUCTIONS LIMITED (REGISTERED NUMBER: 00362031)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MACKENZIE TOOLS AND PRODUCTIONS LIMITED

Company Information
for the Year Ended 30 June 2023







DIRECTORS: A R W Stretch
Ms Y Stretch





SECRETARY: A R W Stretch





REGISTERED OFFICE: Unit 8A Palmers Road
East Moons Moat
Redditch
Worcestershire
B98 0RF





REGISTERED NUMBER: 00362031 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

MACKENZIE TOOLS AND PRODUCTIONS LIMITED (REGISTERED NUMBER: 00362031)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 739,845 654,494

CURRENT ASSETS
Stocks 19,380 17,327
Debtors 5 206,438 191,712
Cash at bank 47,638 57,877
273,456 266,916
CREDITORS
Amounts falling due within one year 6 368,695 329,405
NET CURRENT LIABILITIES (95,239 ) (62,489 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

644,606

592,005

CREDITORS
Amounts falling due after more than one
year

7

(288,348

)

(308,196

)

PROVISIONS FOR LIABILITIES (69,216 ) (30,291 )
NET ASSETS 287,042 253,518

CAPITAL AND RESERVES
Called up share capital 500 500
Revaluation reserve 9 54,821 54,821
Retained earnings 231,721 198,197
SHAREHOLDERS' FUNDS 287,042 253,518

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

MACKENZIE TOOLS AND PRODUCTIONS LIMITED (REGISTERED NUMBER: 00362031)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2023 and were signed on its behalf by:





A R W Stretch - Director


MACKENZIE TOOLS AND PRODUCTIONS LIMITED (REGISTERED NUMBER: 00362031)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Mackenzie Tools and Productions 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 as modified by the revaluation of certain assets.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance and 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% 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 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.

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.

MACKENZIE TOOLS AND PRODUCTIONS LIMITED (REGISTERED NUMBER: 00362031)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 July 2022 411,361 486,171 56,950 12,105 966,587
Additions 15,822 111,719 3,450 - 130,991
Disposals - (31,407 ) - - (31,407 )
At 30 June 2023 427,183 566,483 60,400 12,105 1,066,171
DEPRECIATION
At 1 July 2022 - 257,261 48,401 6,431 312,093
Charge for year - 41,115 2,837 1,419 45,371
Eliminated on disposal - (31,138 ) - - (31,138 )
At 30 June 2023 - 267,238 51,238 7,850 326,326
NET BOOK VALUE
At 30 June 2023 427,183 299,245 9,162 4,255 739,845
At 30 June 2022 411,361 228,910 8,549 5,674 654,494

Cost or valuation at 30 June 2023 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2017 20,876 - - - 20,876
Cost 406,307 566,483 60,400 12,105 1,045,295
427,183 566,483 60,400 12,105 1,066,171

If freehold property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 385,499 385,499
Aggregate depreciation 49,365 49,365

Freehold property was valued on an open market basis on 30 June 2017 by Alec Stretch .

The net book value of tangible fixed assets includes £ 83,816 in respect of assets held under hire purchase contracts.

MACKENZIE TOOLS AND PRODUCTIONS LIMITED (REGISTERED NUMBER: 00362031)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 203,031 182,400
Prepayments and accrued income 3,407 9,312
206,438 191,712

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 17,779 22,107
Hire purchase contracts 48,304 643
Trade creditors 112,180 120,728
Social security and other taxes 12,751 14,242
Other creditors 1,251 3,975
Amounts due to associated
companies 5,556 5,556
Invoice Finance 139,001 130,653
Directors' current accounts 2,633 3,752
Accrued expenses 29,240 27,749
368,695 329,405

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 17,095 21,091
Bank loans - 2-5 years 39,396 52,472
Bank loans more 5 yr by instal 43,814 42,293
Hire purchase contracts 188,043 192,340
288,348 308,196

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 43,814 42,293

MACKENZIE TOOLS AND PRODUCTIONS LIMITED (REGISTERED NUMBER: 00362031)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 118,084 137,963
Hire purchase contracts 236,347 192,983
Invoice Finance 139,001 130,653
493,432 461,599

The bank borrowings are secured.

Invoice finance is secured on the outstanding debtor book.

Hire purchase contract is secured upon the related asset held under hire purchase.

9. RESERVES
Revaluation
reserve
£   
At 1 July 2022
and 30 June 2023 54,821

10. RELATED PARTY DISCLOSURES

At the year end a creditor of £5,556 (2021: £5,556) was due to MTP Laser.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A R W Stretch due to holding over 99% of the issued share capital.