Registered number
05168576
Mclean Groundworks Limited
Unaudited Filleted Accounts
31 July 2023
Mclean Groundworks Limited
Registered number: 05168576
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 51,008 56,518
Investments 4 409,927 398,569
460,935 455,087
Current assets
Debtors 5 108,042 30,059
Cash at bank and in hand 619,921 452,849
727,963 482,908
Creditors: amounts falling due within one year 6 (218,310) (64,774)
Net current assets 509,653 418,134
Net assets 970,588 873,221
Capital and reserves
Called up share capital 2 2
Profit and loss account 970,586 873,219
Shareholders' funds 970,588 873,221
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.
P Mclean
P McLean
Director
Approved by the board on 8 March 2024
Mclean Groundworks 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 15%/25% reducing balance basis
Motor vehicles 25% reducing balance basis
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Provisions
Provisions (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.
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 4 5
3 Tangible fixed assets
Office equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2022 29,855 177,032 87,952 294,839
Additions - - 10,995 10,995
Disposals - - (15,000) (15,000)
At 31 July 2023 29,855 177,032 83,947 290,834
Depreciation
At 1 August 2022 26,118 140,801 71,402 238,321
Charge for the year 561 9,058 6,886 16,505
At 31 July 2023 26,679 149,859 63,288 239,826
Net book value
At 31 July 2023 3,176 27,173 20,659 51,008
At 31 July 2022 3,737 36,231 16,550 56,518
4 Investments
Other
investments
£
Cost
At 1 August 2022 398,569
Additions 11,358
At 31 July 2023 409,927
5 Debtors 2023 2022
£ £
Trade debtors 84,126 9,780
Other debtors 23,916 20,279
108,042 30,059
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 53,406 22,515
Taxation and social security costs 52,013 18,310
Other creditors 112,891 23,949
218,310 64,774
7 Other information
Mclean Groundworks Limited is a private company limited by shares and incorporated in England. Its registered office is:
131 Jeans Way
Dunstable
Bedfordshire
LU5 4PR
Mclean Groundworks Limited 05168576 false 2022-08-01 2023-07-31 2023-07-31 VT Final Accounts October 2023 release 2 P McLean No description of principal activity 05168576 2021-08-01 2022-07-31 05168576 core:WithinOneYear 2022-07-31 05168576 core:ShareCapital 2022-07-31 05168576 core:RetainedEarningsAccumulatedLosses 2022-07-31 05168576 2022-08-01 2023-07-31 05168576 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 05168576 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 05168576 bus:Director40 2022-08-01 2023-07-31 05168576 1 2022-08-01 2023-07-31 05168576 2 2022-08-01 2023-07-31 05168576 core:LandBuildings 2022-08-01 2023-07-31 05168576 core:PlantMachinery 2022-08-01 2023-07-31 05168576 core:Vehicles 2022-08-01 2023-07-31 05168576 countries:England 2022-08-01 2023-07-31 05168576 bus:FRS102 2022-08-01 2023-07-31 05168576 bus:FullAccounts 2022-08-01 2023-07-31 05168576 2023-07-31 05168576 core:WithinOneYear 2023-07-31 05168576 core:ShareCapital 2023-07-31 05168576 core:RetainedEarningsAccumulatedLosses 2023-07-31 05168576 core:LandBuildings 2023-07-31 05168576 core:PlantMachinery 2023-07-31 05168576 core:Vehicles 2023-07-31 05168576 core:AdditionsToInvestments 2023-07-31 05168576 2022-07-31 05168576 core:LandBuildings 2022-07-31 05168576 core:PlantMachinery 2022-07-31 05168576 core:Vehicles 2022-07-31 iso4217:GBP xbrli:pure