Caseware UK (AP4) 2022.0.179 2022.0.179 2022-03-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06937008 2022-03-01 2023-02-28 06937008 2023-02-28 06937008 2021-03-01 2022-02-28 06937008 2022-02-28 06937008 c:Director1 2022-03-01 2023-02-28 06937008 d:PlantMachinery 2022-03-01 2023-02-28 06937008 d:PlantMachinery 2023-02-28 06937008 d:PlantMachinery 2022-02-28 06937008 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 06937008 d:FurnitureFittings 2022-03-01 2023-02-28 06937008 d:FurnitureFittings 2023-02-28 06937008 d:FurnitureFittings 2022-02-28 06937008 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 06937008 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 06937008 d:CurrentFinancialInstruments 2023-02-28 06937008 d:CurrentFinancialInstruments 2022-02-28 06937008 d:Non-currentFinancialInstruments 2023-02-28 06937008 d:Non-currentFinancialInstruments 2022-02-28 06937008 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 06937008 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 06937008 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 06937008 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 06937008 d:ShareCapital 2023-02-28 06937008 d:ShareCapital 2022-02-28 06937008 d:RetainedEarningsAccumulatedLosses 2023-02-28 06937008 d:RetainedEarningsAccumulatedLosses 2022-02-28 06937008 c:FRS102 2022-03-01 2023-02-28 06937008 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 06937008 c:FullAccounts 2022-03-01 2023-02-28 06937008 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 06937008 2 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure
Registered number: 06937008













M & D Patrick Motor Co. Limited

Financial statements
Information for filing with the registrar

28 February 2023




 
M & D Patrick Motor Co. Limited


Balance sheet
At 28 February 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
23,807
27,778

  
23,807
27,778

Current assets
  

Stocks
  
148,925
172,482

Debtors: amounts falling due within one year
 5 
4,999
51,464

Cash at bank and in hand
  
85,614
43,393

  
239,538
267,339

Creditors: amounts falling due within one year
 6 
(34,556)
(40,647)

Net current assets
  
 
 
204,982
 
 
226,692

Total assets less current liabilities
  
228,789
254,470

Creditors: amounts falling due after more than one year
 7 
(14,000)
(20,000)

  

Net assets
  
214,789
234,470


Capital and reserves
  

Called up share capital 
  
725,001
725,001

Profit and loss account
  
(510,212)
(490,531)

Shareholders' funds
  
214,789
234,470


1

 
M & D Patrick Motor Co. Limited

    
Balance sheet (continued)
At 28 February 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 November 2023.




R M Patrick
Director

Company registered number: 06937008
The notes on pages 3 to 6 form part of these financial statements. 

2

 
M & D Patrick Motor Co. Limited
 
 

Notes to the financial statements
Year ended 28 February 2023

1.


General information

The company is a private company limited by shares, registered in England and Wales.  The address of the registered office is Unit 20a, Second Avenue, Drum Industrial Estate, Chester le Street.  DH1 1AG

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

 
2.3

Government grants

Grants of a revenue nature are recognised in the statement of comprehensive income in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

3

 
M & D Patrick Motor Co. Limited
 

 
Notes to the financial statements
Year ended 28 February 2023

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as per below.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
straight line
Fixtures and fittings
-
10%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

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 stock to its present location and condition.

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

4

 
M & D Patrick Motor Co. Limited
 
 

Notes to the financial statements
Year ended 28 February 2023

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 March 2022
18,953
31,327
50,280


Additions
79
-
79



At 28 February 2023

19,032
31,327
50,359



Depreciation


At 1 March 2022
15,919
6,584
22,503


Charge for the year
916
3,133
4,049



At 28 February 2023

16,835
9,717
26,552



Net book value



At 28 February 2023
2,197
21,610
23,807



At 28 February 2022
3,035
24,743
27,778


5.


Debtors

2023
2022
£
£


Trade debtors
1,614
33,250

Other debtors
-
15,919

Prepayments and accrued income
3,385
2,295

4,999
51,464


5

 
M & D Patrick Motor Co. Limited
 
 

Notes to the financial statements
Year ended 28 February 2023

6.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank loans
6,000
6,000

Trade creditors
15,015
18,813

Other taxation and social security
6,337
8,402

Accruals and deferred income
7,204
7,432

34,556
40,647


Bank loans are secured by a floating charge over the assets of the company.


7.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Bank loans
14,000
20,000

14,000
20,000


Bank loans are secured by a floating charge over the assets of the company.

 
6