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REGISTERED NUMBER: 06759904 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MCGARRY CONSTRUCTION LIMITED

MCGARRY CONSTRUCTION LIMITED (REGISTERED NUMBER: 06759904)

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










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MCGARRY CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs L M McGarry
Mrs R Sherlock





SECRETARY: Mrs L M McGarry





REGISTERED OFFICE: c/o Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 06759904 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS

MCGARRY CONSTRUCTION LIMITED (REGISTERED NUMBER: 06759904)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 30,279 39,873

CURRENT ASSETS
Stocks 252,016 160,305
Debtors 31,354 151,948
Cash at bank 24,173 1
307,543 312,254
CREDITORS
Amounts falling due within one year 230,186 223,992
NET CURRENT ASSETS 77,357 88,262
TOTAL ASSETS LESS CURRENT
LIABILITIES

107,636

128,135

CREDITORS
Amounts falling due after more than one year (20,000 ) (86,518 )

PROVISIONS FOR LIABILITIES 7 (5,753 ) (7,576 )
NET ASSETS 81,883 34,041

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 81,783 33,941
SHAREHOLDERS' FUNDS 81,883 34,041

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

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

The directors acknowledge their 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.

MCGARRY CONSTRUCTION LIMITED (REGISTERED NUMBER: 06759904)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2024 and were signed on its behalf by:




Mrs L M McGarry - Director



Mrs R Sherlock - Director


MCGARRY CONSTRUCTION LIMITED (REGISTERED NUMBER: 06759904)

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


1. STATUTORY INFORMATION

McGarry Construction Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on reducing balance
Motor vans - 25% on reducing balance
Computer equipment - 25% on reducing balance

Work in progress
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.


MCGARRY CONSTRUCTION LIMITED (REGISTERED NUMBER: 06759904)

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


3. ACCOUNTING POLICIES - continued
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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 9 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 193,288
Additions 499
At 31 December 2023 193,787
DEPRECIATION
At 1 January 2023 153,415
Charge for year 10,093
At 31 December 2023 163,508
NET BOOK VALUE
At 31 December 2023 30,279
At 31 December 2022 39,873

MCGARRY CONSTRUCTION LIMITED (REGISTERED NUMBER: 06759904)

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


6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 79,914 140,758

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 5,753 7,576

Deferred
tax
£   
Balance at 1 January 2023 7,576
Provided during year (1,823 )
Balance at 31 December 2023 5,753

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1 100 100

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs L M McGarry.

She controls the company as she owns 51% of the issued ordinary share capital of the company. The other 49% is owned by Mrs R Sherlock, who is also a director of the company.