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REGISTERED NUMBER: 08664298 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

IAN MCGRAW LTD

IAN MCGRAW LTD (REGISTERED NUMBER: 08664298)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IAN MCGRAW LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: I McGraw





REGISTERED OFFICE: 13 Brices Way
Glemsford
Sudbury
Suffolk
CO10 7UP





REGISTERED NUMBER: 08664298 (England and Wales)





ACCOUNTANTS: Seago and Stopps
Chartered Certified Accountants
61 Station Road
Sudbury
Suffolk
CO10 2SP

IAN MCGRAW LTD (REGISTERED NUMBER: 08664298)

BALANCE SHEET
31 AUGUST 2023

31.8.22 31.8.23
£    £    Notes £    £   
FIXED ASSETS
1,500 Tangible assets 4 1,800

CURRENT ASSETS
24,795 Debtors 5 20,697
1 Cash in hand 1
24,796 20,698
CREDITORS
17,677 Amounts falling due within one year 6 13,876
7,119 NET CURRENT ASSETS 6,822
8,619 TOTAL ASSETS LESS CURRENT
LIABILITIES

8,622

CREDITORS
(8,214 ) Amounts falling due after more than one
year

7

(7,790

)

(285 ) PROVISIONS FOR LIABILITIES (342 )
120 NET ASSETS 490

CAPITAL AND RESERVES
1 Called up share capital 1
119 Retained earnings 489
120 SHAREHOLDERS' FUNDS 490

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

IAN MCGRAW LTD (REGISTERED NUMBER: 08664298)

BALANCE SHEET - continued
31 AUGUST 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 March 2024 and were signed by:





I McGraw - Director


IAN MCGRAW LTD (REGISTERED NUMBER: 08664298)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Ian McGraw Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value of sales invoices raised plus value added tax at 20%, less the appropriate deduction for value added tax that is accounted for under the Fixed Rate Scheme.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Financial instruments
The Company enters into basic financial instrument transactions, as appropriate and as when required, that result in the recognition of financial assets and liabilities within the financial statements such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


IAN MCGRAW LTD (REGISTERED NUMBER: 08664298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 2,000
Additions 2,400
Disposals (2,000 )
At 31 August 2023 2,400
DEPRECIATION
At 1 September 2022 500
Charge for year 600
Eliminated on disposal (500 )
At 31 August 2023 600
NET BOOK VALUE
At 31 August 2023 1,800
At 31 August 2022 1,500

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Other debtors 20,697 24,795

IAN MCGRAW LTD (REGISTERED NUMBER: 08664298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 2,463 2,959
Taxation and social security 6,289 10,022
Other creditors 5,124 4,696
13,876 17,677

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans 7,790 8,214