IRIS Accounts Production v24.1.9.2 01392585 director 1.11.22 31.10.23 31.10.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh013925852022-10-31013925852023-10-31013925852022-11-012023-10-31013925852021-10-31013925852021-11-012022-10-31013925852022-10-3101392585ns15:EnglandWales2022-11-012023-10-3101392585ns14:PoundSterling2022-11-012023-10-3101392585ns10:Director12022-11-012023-10-3101392585ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3101392585ns10:SmallEntities2022-11-012023-10-3101392585ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3101392585ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3101392585ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3101392585ns10:FullAccounts2022-11-012023-10-3101392585ns10:Director22022-11-012023-10-3101392585ns10:CompanySecretary12022-11-012023-10-3101392585ns10:RegisteredOffice2022-11-012023-10-3101392585ns5:CurrentFinancialInstruments2023-10-3101392585ns5:CurrentFinancialInstruments2022-10-3101392585ns5:Non-currentFinancialInstruments2023-10-3101392585ns5:Non-currentFinancialInstruments2022-10-3101392585ns5:ShareCapital2023-10-3101392585ns5:ShareCapital2022-10-3101392585ns5:RetainedEarningsAccumulatedLosses2023-10-3101392585ns5:RetainedEarningsAccumulatedLosses2022-10-3101392585ns5:PlantMachinery2022-11-012023-10-3101392585ns5:MotorVehicles2022-11-012023-10-3101392585ns5:ComputerEquipment2022-11-012023-10-3101392585ns5:PlantMachinery2022-10-3101392585ns5:FurnitureFittings2022-10-3101392585ns5:MotorVehicles2022-10-3101392585ns5:ComputerEquipment2022-10-3101392585ns5:FurnitureFittings2022-11-012023-10-3101392585ns5:PlantMachinery2023-10-3101392585ns5:FurnitureFittings2023-10-3101392585ns5:MotorVehicles2023-10-3101392585ns5:ComputerEquipment2023-10-3101392585ns5:PlantMachinery2022-10-3101392585ns5:FurnitureFittings2022-10-3101392585ns5:MotorVehicles2022-10-3101392585ns5:ComputerEquipment2022-10-3101392585ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3101392585ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3101392585ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-10-3101392585ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-10-3101392585ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-10-3101392585ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-10-31
REGISTERED NUMBER: 01392585 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

T. McGranaghan Limited

T. McGranaghan Limited (Registered number: 01392585)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


T. McGranaghan Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: B McGranaghan





SECRETARY: T McGranaghan





REGISTERED OFFICE: t/a M G Joinery
Dutton Road
Aldermans Green Industrial Estate
Coventry
CV2 2LE





REGISTERED NUMBER: 01392585 (England and Wales)





ACCOUNTANTS: Gopsall Services Limited
4 HRFC Business Centre
Leicester Road
Hinckley
Leicestershire
LE10 3DR

T. McGranaghan Limited (Registered number: 01392585)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 181,588 188,123

CURRENT ASSETS
Stocks 76,668 89,238
Debtors 5 296,429 171,640
Cash at bank and in hand 74,552 111,478
447,649 372,356
CREDITORS
Amounts falling due within one year 6 291,012 291,823
NET CURRENT ASSETS 156,637 80,533
TOTAL ASSETS LESS CURRENT
LIABILITIES

338,225

268,656

CREDITORS
Amounts falling due after more than one year 7 (262,234 ) (208,833 )

PROVISIONS FOR LIABILITIES (34,362 ) (35,026 )
NET ASSETS 41,629 24,797

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 40,629 23,797
41,629 24,797

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

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

The director acknowledges his 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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 July 2024 and were signed by:




P McGranaghan - Director


T. McGranaghan Limited (Registered number: 01392585)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

T. McGranaghan 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 24 ) .

T. McGranaghan Limited (Registered number: 01392585)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 540,853 16,335 64,078 7,064 628,330
Additions 24,775 - - - 24,775
Disposals (2,875 ) - - - (2,875 )
At 31 October 2023 562,753 16,335 64,078 7,064 650,230
DEPRECIATION
At 1 November 2022 371,406 - 62,111 6,690 440,207
Charge for year 28,868 - 492 184 29,544
Eliminated on disposal (1,109 ) - - - (1,109 )
At 31 October 2023 399,165 - 62,603 6,874 468,642
NET BOOK VALUE
At 31 October 2023 163,588 16,335 1,475 190 181,588
At 31 October 2022 169,447 16,335 1,967 374 188,123

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 211,095 145,205
Bad debt provision (2,000 ) (6,459 )
Other debtors 78,388 16,433
Prepayments 8,946 16,461
296,429 171,640

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 28,000 28,000
Trade creditors 157,849 70,993
Tax 10,263 47,720
Social security and other taxes 55,045 66,110
Other creditors 3,609 5,575
Directors' current accounts 260 22,300
Accrued expenses 4,859 14,505
Deferred grants 31,127 36,620
291,012 291,823

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans - 1-2 years 28,000 28,000
Bank loans - 2-5 years 16,334 44,333
Other creditors 217,900 136,500
262,234 208,833