Registered number
10817393
JAMES MCDONALD DESIGN LIMITED
Filleted Accounts
30 June 2023
JAMES MCDONALD DESIGN LIMITED
Registered number: 10817393
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,273 2,250
Current assets
Debtors 4 2,990 1,600
Cash at bank and in hand 5,933 3,496
8,923 5,096
Creditors: amounts falling due within one year 5 (7,028) (7,335)
Net current assets/(liabilities) 1,895 (2,239)
Net assets 4,168 11
Capital and reserves
Called up share capital 1 1
Profit and loss account 4,167 10
Shareholder's funds 4,168 11
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
J McDonald
Director
Approved by the board on 11 March 2024
JAMES MCDONALD DESIGN LIMITED
Notes to the Accounts
for the year ended 30 June 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 25% reducing balance
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.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022 4,181
Additions 781
At 30 June 2023 4,962
Depreciation
At 1 July 2022 1,931
Charge for the year 758
At 30 June 2023 2,689
Net book value
At 30 June 2023 2,273
At 30 June 2022 2,250
4 Debtors 2023 2022
£ £
Trade debtors 2,990 1,600
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 3,796 4,473
Other creditors 3,232 2,862
7,028 7,335
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
J McDonald
Directors loan 338 - (338) -
338 - (338) -
7 Controlling party
The controlling party is James McDonald, by way of his shareholding.
8 Other information
JAMES MCDONALD DESIGN LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
14 Sunnyside Road
London
W5 6HU
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