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
McGovern Assessments Limited
Company Information
for the year ended 31 October 2023
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
McGovern Assessments Limited
Statement of financial position
as at 31 October 2023
Tangible assets
88,130
52,593
Cash at bank and in hand
112,376
27,584
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)
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
McGovern Assessments Limited
Notes to the Accounts
for the year ended 31 October 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 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 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.
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.
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
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
At 31 October 2023
83,021
5,109
88,130
At 31 October 2022
49,499
3,094
52,593
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
83,021
49,499
Amounts falling due within one year
Trade debtors
71,026
13,611
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
2,250
2,250
Obligations under finance leases and hire purchase contracts
12,053
5,538
Taxes and social security
16,444
105
Loans from directors
1,238
444
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
Obligations under finance leases and hire purchase contracts
62,228
31,340
Taxes and social security
105
-
8
Deferred taxation
2023
2022
Accelerated capital allowances
26,424
11,947
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.
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).