Company Registration No. 04358343 (England and Wales)
McCulloch Contracts Ltd
Unaudited accounts
for the year ended 28 February 2023
McCulloch Contracts Ltd
Unaudited accounts
Contents
McCulloch Contracts Ltd
Company Information
for the year ended 28 February 2023
Directors
N McCulloch
I McCulloch
V McCulloch
A McCulloch
Company Number
04358343 (England and Wales)
Registered Office
29 MYLN MEADOW
STOCK
INGATESTONE
ESSEX
CM4 9NE
Accountants
Target Associates Ltd
NM Business Suites Abacus House
Station Yard
Needham Market
Suffolk
IP6 8AS
McCulloch Contracts Ltd
Statement of financial position
as at 28 February 2023
Tangible assets
3,507
9,512
Cash at bank and in hand
118,218
159,338
Creditors: amounts falling due within one year
(65,663)
(79,273)
Net current assets
96,915
132,520
Total assets less current liabilities
100,422
142,032
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
99,655
140,125
Shareholders' funds
99,755
140,225
For the year ending 28 February 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 directors acknowledge their 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 of Directors and authorised for issue on 21 September 2023 and were signed on its behalf by
N McCulloch
Director
Company Registration No. 04358343
McCulloch Contracts Ltd
Notes to the Accounts
for the year ended 28 February 2023
McCulloch Contracts Ltd is a private company, limited by shares, registered in England and Wales, registration number 04358343. The registered office is 29 MYLN MEADOW, STOCK, INGATESTONE, ESSEX, CM4 9NE.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Motor vehicles
25% Straight Line
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
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 is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
McCulloch Contracts Ltd
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 March 2022
3,547
35,090
38,637
At 28 February 2023
3,547
35,090
38,637
At 1 March 2022
2,078
27,047
29,125
Charge for the year
887
5,118
6,005
At 28 February 2023
2,965
32,165
35,130
At 28 February 2023
582
2,925
3,507
At 28 February 2022
1,469
8,043
9,512
Amounts falling due within one year
Trade debtors
44,260
52,105
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
4,191
2,637
Taxes and social security
15,450
36,856
Other creditors
3,621
1,821
Loans from directors
40,961
36,579
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Average number of employees
During the year the average number of employees was 4 (2022: 4).