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Company Registration No. 11027193 (England and Wales)
McGovern Assessments Limited Unaudited accounts for the year ended 31 October 2023
McGovern Assessments Limited Unaudited accounts Contents
Page
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McGovern Assessments Limited Company Information for the year ended 31 October 2023
Director
Jonjo McGovern
Company Number
11027193 (England and Wales)
Registered Office
112 - 113 High Street LINCOLN LN5 7PY UNITED KINGDOM
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA Templar Accounting & Business Support Services Limited (Incorp: Blake and Co ) 112 - 113 High Street, Lincoln, Lincolnshire LN5 7PY
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McGovern Assessments Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
88,130 
52,593 
Current assets
Debtors
71,209 
17,118 
Cash at bank and in hand
112,376 
27,584 
183,585 
44,702 
Creditors: amounts falling due within one year
(42,649)
(11,093)
Net current assets
140,936 
33,609 
Total assets less current liabilities
229,066 
86,202 
Creditors: amounts falling due after more than one year
(76,338)
(47,559)
Provisions for liabilities
Deferred tax
(26,424)
(11,947)
Net assets
126,304 
26,696 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
126,204 
26,596 
Shareholders' funds
126,304 
26,696 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 July 2024 and were signed on its behalf by
Jonjo McGovern Director Company Registration No. 11027193
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McGovern Assessments Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
McGovern Assessments Limited is a private company, limited by shares, registered in England and Wales, registration number 11027193. The registered office is 112 - 113 High Street, LINCOLN, LN5 7PY, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Reducing balance
Computer equipment
25% Reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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McGovern Assessments Limited Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2022
65,998 
5,543 
71,541 
Additions
61,196 
3,705 
64,901 
At 31 October 2023
127,194 
9,248 
136,442 
Depreciation
At 1 November 2022
16,499 
2,449 
18,948 
Charge for the year
27,674 
1,690 
29,364 
At 31 October 2023
44,173 
4,139 
48,312 
Net book value
At 31 October 2023
83,021 
5,109 
88,130 
At 31 October 2022
49,499 
3,094 
52,593 
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
83,021 
49,499 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
3,324 
Trade debtors
71,026 
13,611 
71,026 
16,935 
Amounts falling due after more than one year
Other debtors
183 
183 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
2,250 
2,250 
VAT
9,731 
- 
Obligations under finance leases and hire purchase contracts
12,053 
5,538 
Trade creditors
93 
201 
Taxes and social security
16,444 
105 
Other creditors
- 
1,715 
Loans from directors
1,238 
444 
Accruals
840 
840 
42,649 
11,093 
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McGovern Assessments Limited Notes to the Accounts for the year ended 31 October 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
14,005 
16,219 
Obligations under finance leases and hire purchase contracts
62,228 
31,340 
Taxes and social security
105 
- 
76,338 
47,559 
8
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
26,424 
11,947 
2023 
2022 
£ 
£ 
Provision at start of year
11,947 
3,981 
Charged to the profit and loss account
14,477 
7,966 
Provision at end of year
26,424 
11,947 
A deferred taxation reserve of some £26,424 has been created due to accelerated capital allowances. This reserve will reverse in future periods to create a tax liability at the prevailing rate on the day.
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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