DAVID MAWHINNEY & SONS LTD

Company Registration Number:
NI623153 (Northern Ireland)

Unaudited statutory accounts for the year ended 30 April 2023

Period of accounts

Start date: 1 May 2022

End date: 30 April 2023

DAVID MAWHINNEY & SONS LTD

Contents of the Financial Statements

for the Period Ended 30 April 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

DAVID MAWHINNEY & SONS LTD

Directors' report period ended 30 April 2023

The directors present their report with the financial statements of the company for the period ended 30 April 2023

Principal activities of the company

The company's principal activity during the year continued to be the retail sale of meat and meat products in specialised stores.

Additional information

This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Directors

The director shown below has held office during the whole of the period from
1 May 2022 to 30 April 2023

David Mawhinney Esq


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
25 January 2024

And signed on behalf of the board by:
Name: David Mawhinney Esq
Status: Director

DAVID MAWHINNEY & SONS LTD

Profit And Loss Account

for the Period Ended 30 April 2023

2023 2022


£

£
Turnover: 1,400,234 1,320,152
Cost of sales: ( 972,343 ) ( 928,549 )
Gross profit(or loss): 427,891 391,603
Administrative expenses: ( 351,316 ) ( 363,240 )
Operating profit(or loss): 76,575 28,363
Profit(or loss) before tax: 76,575 28,363
Tax: ( 18,252 ) ( 8,809 )
Profit(or loss) for the financial year: 58,323 19,554

DAVID MAWHINNEY & SONS LTD

Balance sheet

As at 30 April 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets: 3 24,000 42,000
Tangible assets: 4 23,750 25,345
Total fixed assets: 47,750 67,345
Current assets
Stocks: 5 14,995 15,500
Debtors: 6 13,927 13,558
Cash at bank and in hand: 181,176 159,758
Total current assets: 210,098 188,816
Creditors: amounts falling due within one year: 7 ( 34,891 ) ( 22,413 )
Net current assets (liabilities): 175,207 166,403
Total assets less current liabilities: 222,957 233,748
Provision for liabilities: ( 3,269 ) ( 3,492 )
Total net assets (liabilities): 219,688 230,256
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 218,688 229,256
Total Shareholders' funds: 219,688 230,256

The notes form part of these financial statements

DAVID MAWHINNEY & SONS LTD

Balance sheet statements

For the year ending 30 April 2023 the company was entitled to exemption 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.

This report was approved by the board of directors on 25 January 2024
and signed on behalf of the board by:

Name: David Mawhinney Esq
Status: Director

The notes form part of these financial statements

DAVID MAWHINNEY & SONS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:Fixtures, fittings, tools and equipment - over 4 yearsMotor vehicles - over 4 years

    Intangible fixed assets amortisation policy

    Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

    Other accounting policies

    StocksStocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.DebtorsShort term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.CreditorsShort term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.TaxationA current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.ProvisionsProvisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.PensionsContributions to defined contribution plans are expensed in the period to which they relate.

DAVID MAWHINNEY & SONS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 15 14

DAVID MAWHINNEY & SONS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 May 2022 180,000 180,000
Additions
Disposals
Revaluations
Transfers
At 30 April 2023 180,000 180,000
Amortisation
At 1 May 2022 138,000 138,000
Charge for year 18,000 18,000
On disposals
Other adjustments
At 30 April 2023 156,000 156,000
Net book value
At 30 April 2023 24,000 24,000
At 30 April 2022 42,000 42,000

Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.

DAVID MAWHINNEY & SONS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 May 2022 72,098 22,333 94,431
Additions 11,500 11,500
Disposals
Revaluations
Transfers
At 30 April 2023 83,598 22,333 105,931
Depreciation
At 1 May 2022 46,753 22,333 69,086
Charge for year 13,095 13,095
On disposals
Other adjustments
At 30 April 2023 59,848 22,333 82,181
Net book value
At 30 April 2023 23,750 0 23,750
At 30 April 2022 25,345 0 25,345

DAVID MAWHINNEY & SONS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

5. Stocks

2023 2022
£ £
Stocks 14,995 15,500
Total 14,995 15,500

DAVID MAWHINNEY & SONS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

6. Debtors

2023 2022
£ £
Trade debtors 13,795 13,426
Other debtors 132 132
Total 13,927 13,558

DAVID MAWHINNEY & SONS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

7. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 16,200 14,788
Taxation and social security 11,494 579
Other creditors 7,197 7,046
Total 34,891 22,413