Registered number
00886296
McKenzie Martin Limited
Filleted Accounts
31 July 2023
McKenzie Martin Limited
Registered number: 00886296
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 105,691 25,995
Current assets
Stocks 99,700 90,172
Debtors 4 315,845 317,946
Cash at bank and in hand 404,433 144,570
819,978 552,688
Creditors: amounts falling due within one year 5 (437,342) (338,828)
Net current assets 382,636 213,860
Total assets less current liabilities 488,327 239,855
Provisions for liabilities (22,195) (4,940)
Net assets 466,132 234,915
Capital and reserves
Called up share capital 5,000 5,000
Profit and loss account 461,132 229,915
Shareholders' funds 466,132 234,915
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G M Waite
Director
Approved by the board on 19 April 2024
McKenzie Martin Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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
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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks 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.
Debtors
Short 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.
Creditors
Short 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.
Taxation
A 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 14 13
3 Tangible fixed assets
Plant and machinery
£
Cost
At 1 August 2022 125,897
Additions 94,812
Disposals (28,644)
At 31 July 2023 192,065
Depreciation
At 1 August 2022 99,902
Charge for the year 15,116
On disposals (28,644)
At 31 July 2023 86,374
Net book value
At 31 July 2023 105,691
At 31 July 2022 25,995
4 Debtors 2023 2022
£ £
Trade debtors 258,879 245,936
Amounts owed by group undertakings and undertakings in which the company has a participating interest 22,015 -
Other debtors 34,951 72,010
315,845 317,946
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 135,110 216,027
Amounts owed to group undertakings and undertakings in which the company has a participating interest 60,000 37,141
Taxation and social security costs 104,320 40,735
Other creditors 137,912 44,925
437,342 338,828
6 Related party transactions 2023 2022
£ £
McKenzie Martin (Holdings) Limited
G M Waite is a common director
Amount due from the above company 21,976 21,776
Twinwall Limited
G M Waite is a common director
Property rental charge 120,000 60,000
Amount due from the above company - 1,044
Amount due to the above company (60,000) (60,000)
Pencilfront Limited
G M Waite is a common director
Amount due from the above company 13 13
Ulpha Investments Group Limited
G M Waite is a common director
Amount due from the above company 13 13
Ulpha Investments Limited
7 G M Waite is a common director
Amount due from the above company 13 13
7 Controlling party
The ultimate holding company is McKenzie Martin (Holdings) Limited, a company incorporated in Great Britain whose registered office is set out in the note below.
8 Other information
McKenzie Martin Limited is a private company limited by shares and incorporated in England. Its registered office is:
Eton Hill Works
Radcliffe
Manchester M26 2US
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