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Company Registration No. 04713564 (England and Wales)
MCLINTOCK AND TAYLOR LIMITED Unaudited accounts for the year ended 31 July 2023
MCLINTOCK AND TAYLOR LIMITED Unaudited accounts Contents
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MCLINTOCK AND TAYLOR LIMITED Company Information for the year ended 31 July 2023
Director
P McLintock
Secretary
S Low
Company Number
04713564 (England and Wales)
Registered Office
84 LAURA GROVE PAIGNTON DEVON TQ3 2LN
Accountants
FARQUHAR PARTNERSHIP LIMITED 151 WHITELADIES ROAD CLIFTON BRISTOL BS8 2RA
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MCLINTOCK AND TAYLOR LIMITED Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
14,794 
18,048 
Current assets
Inventories
2,500 
2,500 
Debtors
84,448 
82,838 
Cash at bank and in hand
1,217 
291 
88,165 
85,629 
Creditors: amounts falling due within one year
(50,722)
(52,510)
Net current assets
37,443 
33,119 
Total assets less current liabilities
52,237 
51,167 
Creditors: amounts falling due after more than one year
(9,187)
(14,187)
Provisions for liabilities
Deferred tax
(2,348)
(2,864)
Net assets
40,702 
34,116 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
40,602 
34,016 
Shareholders' funds
40,702 
34,116 
For the year ending 31 July 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 29 July 2024 and were signed on its behalf by
P McLintock Director Company Registration No. 04713564
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MCLINTOCK AND TAYLOR LIMITED Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
MCLINTOCK AND TAYLOR LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04713564. The registered office is 84 LAURA GROVE, PAIGNTON, DEVON, TQ3 2LN.
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.
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.
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.
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
10% straight line basis
Fixtures & fittings
10% straight line basis
Computer equipment
10% straight line basis
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Financial instruments
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.
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MCLINTOCK AND TAYLOR LIMITED Notes to the Accounts for the year ended 31 July 2023
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss. Government grants in relation to COVID-19 assistance are credited to profit and loss using the accrual model and are recognised in Other operating income.
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.
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2022
28,533 
524 
3,489 
32,546 
At 31 July 2023
28,533 
524 
3,489 
32,546 
Depreciation
At 1 August 2022
12,078 
148 
2,272 
14,498 
Charge for the year
2,853 
52 
349 
3,254 
At 31 July 2023
14,931 
200 
2,621 
17,752 
Net book value
At 31 July 2023
13,602 
324 
868 
14,794 
At 31 July 2022
16,455 
376 
1,217 
18,048 
5
Inventories
2023 
2022 
£ 
£ 
Raw materials
2,500 
2,500 
2,500 
2,500 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
982 
1,574 
Other debtors
83,466 
81,264 
84,448 
82,838 
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MCLINTOCK AND TAYLOR LIMITED Notes to the Accounts for the year ended 31 July 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
5,000 
8,920 
Trade creditors
4,484 
7,232 
Taxes and social security
28,424 
24,507 
Other creditors
10,194 
9,231 
Accruals
2,620 
2,620 
50,722 
52,510 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
9,187 
14,187 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 "A" Ordinary shares of £1 each
100 
100 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Directors loan account
68,515 
54,894 
54,858 
68,551 
68,515 
54,894 
54,858 
68,551 
Interest is charged at HMRC's official rate and the loan is repayable on demand.
11
Average number of employees
During the year the average number of employees was 3 (2022: 2).
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