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Company registration number: 09365329
Mac Installations Coldstore Ltd
Unaudited filleted financial statements
31 December 2023
Mac Installations Coldstore Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Mac Installations Coldstore Ltd
Directors and other information
Directors
Mr Christopher George Watts
Company number 09365329
Registered office 75 High Street
Boston
Lincs
PE21 8SX
Business address Frampton House Farm
Bannisters Lane
Frampton West
Boston
PE20 1RD
Accountants Lister & Co
75 High Street
Boston
Lincs
PE21 8SX
Mac Installations Coldstore Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Mac Installations Coldstore Ltd
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mac Installations Coldstore Ltd for the year ended 31 December 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Mac Installations Coldstore Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Mac Installations Coldstore Ltd and state those matters that we have agreed to state to the board of directors of Mac Installations Coldstore Ltd as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mac Installations Coldstore Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Mac Installations Coldstore Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mac Installations Coldstore Ltd. You consider that Mac Installations Coldstore Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Mac Installations Coldstore Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Lister & Co
ACCA
75 High Street
Boston
Lincs
PE21 8SX
9 February 2024
Mac Installations Coldstore Ltd
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 10,917 14,381
_______ _______
10,917 14,381
Current assets
Debtors 6 13,952 15,141
Cash at bank and in hand 368,521 337,287
_______ _______
382,473 352,428
Creditors: amounts falling due
within one year 7 ( 29,141) ( 22,028)
_______ _______
Net current assets 353,332 330,400
_______ _______
Total assets less current liabilities 364,249 344,781
Provisions for liabilities ( 2,729) ( 3,581)
_______ _______
Net assets 361,520 341,200
_______ _______
Capital and reserves
Called up share capital 8 80 80
Profit and loss account 361,440 341,120
_______ _______
Shareholders funds 361,520 341,200
_______ _______
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge 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 income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 09 February 2024 , and are signed on behalf of the board by:
Mr Christopher George Watts
Director
Company registration number: 09365329
Mac Installations Coldstore Ltd
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 75 High Street, Boston, Lincs, PE21 8SX.
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'.
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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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 - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 and 31 December 2023 2,878 421 14,580 17,879
_______ _______ _______ _______
Depreciation
At 1 January 2023 1,686 293 1,519 3,498
Charge for the year 179 20 3,265 3,464
_______ _______ _______ _______
At 31 December 2023 1,865 313 4,784 6,962
_______ _______ _______ _______
Carrying amount
At 31 December 2023 1,013 108 9,796 10,917
_______ _______ _______ _______
At 31 December 2022 1,192 128 13,061 14,381
_______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 11,907 13,040
Other debtors 2,045 2,101
_______ _______
13,952 15,141
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 578 -
Social security and other taxes 25,182 17,192
Other creditors 3,381 4,836
_______ _______
29,141 22,028
_______ _______
8. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares shares of £ 1.00 each 80 80 80 80
_______ _______ _______ _______