IRIS Accounts Production v24.1.0.578 SC698927 director 1.6.23 31.5.24 31.5.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC6989272023-05-31SC6989272024-05-31SC6989272023-06-012024-05-31SC6989272022-05-31SC6989272022-06-012023-05-31SC6989272023-05-31SC698927ns15:Scotland2023-06-012024-05-31SC698927ns14:PoundSterling2023-06-012024-05-31SC698927ns10:Director12023-06-012024-05-31SC698927ns10:PrivateLimitedCompanyLtd2023-06-012024-05-31SC698927ns10:SmallEntities2023-06-012024-05-31SC698927ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-31SC698927ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-31SC698927ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-31SC698927ns10:FullAccounts2023-06-012024-05-31SC69892712023-06-012024-05-31SC698927ns10:CompanySecretary12023-06-012024-05-31SC698927ns10:RegisteredOffice2023-06-012024-05-31SC698927ns5:CurrentFinancialInstruments2024-05-31SC698927ns5:CurrentFinancialInstruments2023-05-31SC698927ns5:Non-currentFinancialInstruments2024-05-31SC698927ns5:Non-currentFinancialInstruments2023-05-31SC698927ns5:ShareCapital2024-05-31SC698927ns5:ShareCapital2023-05-31SC698927ns5:RetainedEarningsAccumulatedLosses2024-05-31SC698927ns5:RetainedEarningsAccumulatedLosses2023-05-31SC698927ns5:NetGoodwill2023-06-012024-05-31SC698927ns5:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-31SC698927ns5:PlantMachinery2023-06-012024-05-31SC698927ns5:NetGoodwill2023-05-31SC698927ns5:NetGoodwill2024-05-31SC698927ns5:NetGoodwill2023-05-31SC698927ns5:PlantMachinery2023-05-31SC698927ns5:PlantMachinery2024-05-31SC698927ns5:PlantMachinery2023-05-31SC698927ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-31SC698927ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-31
REGISTERED NUMBER: SC698927 (Scotland)












Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Daniel McMahon Ltd

Daniel McMahon Ltd (Registered number: SC698927)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Daniel McMahon Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: D K McMahon





SECRETARY:





REGISTERED OFFICE: 23 St James Avenue
EAST KILBRIDE
G74 5QD





REGISTERED NUMBER: SC698927 (Scotland)





ACCOUNTANTS: AMS Chartered Accountants
Unit 23
St James Avenue
EAST KILBRIDE
Lanarkshire
G74 5QD

Daniel McMahon Ltd (Registered number: SC698927)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 76,600 70,600
Tangible assets 5 10,409 13,962
87,009 84,562

CURRENT ASSETS
Stocks 3,500 3,500
Debtors 6 969 341
Cash at bank and in hand 47,441 57,093
51,910 60,934
CREDITORS
Amounts falling due within one year 7 40,052 48,731
NET CURRENT ASSETS 11,858 12,203
TOTAL ASSETS LESS CURRENT
LIABILITIES

98,867

96,765

CREDITORS
Amounts falling due after more than one
year

8

8,318

29,778
NET ASSETS 90,549 66,987

CAPITAL AND RESERVES
Called up share capital 100 1
Retained earnings 90,449 66,986
90,549 66,987

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

Daniel McMahon Ltd (Registered number: SC698927)

Balance Sheet - continued
31 May 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 July 2024 and were signed by:





D K McMahon - Director


Daniel McMahon Ltd (Registered number: SC698927)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Daniel McMahon Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 25% on reducing balance and 25% on cost

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

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.

Daniel McMahon Ltd (Registered number: SC698927)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023 84,000
Additions 16,000
At 31 May 2024 100,000
AMORTISATION
At 1 June 2023 13,400
Charge for year 10,000
At 31 May 2024 23,400
NET BOOK VALUE
At 31 May 2024 76,600
At 31 May 2023 70,600

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 16,659
DEPRECIATION
At 1 June 2023 2,697
Charge for year 3,553
At 31 May 2024 6,250
NET BOOK VALUE
At 31 May 2024 10,409
At 31 May 2023 13,962

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 969 341

Daniel McMahon Ltd (Registered number: SC698927)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 3,633 3,633
Trade creditors - 2
Taxation and social security 28,071 20,023
Other creditors 8,348 25,073
40,052 48,731

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 4,074 7,806
Other creditors 4,244 21,972
8,318 29,778