Company Registration No. 08296778 (England and Wales)
D A McNeil Electrical Limited
Unaudited accounts
for the year ended 30 November 2023
D A McNeil Electrical Limited
Unaudited accounts
Contents
D A McNeil Electrical Limited
Company Information
for the year ended 30 November 2023
Directors
Mr S. D. McNeil
Mr R. D. McNeil
Company Number
08296778 (England and Wales)
Registered Office
103 High Street
Waltham Cross
Hertfordshire
EN8 7AN
Accountants
Brindley Goldstein Ltd
103 High Street
Waltham Cross
EN8 7AN
D A McNeil Electrical Limited
Statement of financial position
as at 30 November 2023
Tangible assets
7,065
11,101
Cash at bank and in hand
(8,178)
(9,437)
Creditors: amounts falling due within one year
(68,145)
(47,219)
Net current liabilities
(69,303)
(48,307)
Total assets less current liabilities
(62,238)
(37,206)
Creditors: amounts falling due after more than one year
(10,332)
(18,261)
Net liabilities
(72,570)
(55,467)
Called up share capital
100
100
Profit and loss account
(72,670)
(55,567)
Shareholders' funds
(72,570)
(55,467)
For the year ending 30 November 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 directors acknowledge their 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 of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by
Mr R. D. McNeil
Director
Company Registration No. 08296778
D A McNeil Electrical Limited
Notes to the Accounts
for the year ended 30 November 2023
D A McNeil Electrical Limited is a private company, limited by shares, registered in England and Wales, registration number 08296778. The registered office is 103 High Street, Waltham Cross, Hertfordshire, EN8 7AN.
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.
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 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
20% Straight Line Basis
Computer equipment
33 1/3% Straight Line Basis
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.
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.
D A McNeil Electrical Limited
Notes to the Accounts
for the year ended 30 November 2023
The directors, having considered the net liability position of the company and made due enquiries, continue to adopt the going concern basis in preparing the financial statements as they will support the company and believe the company will continue in operation for the foreseeable future.
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 December 2022
36,216
366
36,582
At 30 November 2023
36,216
366
36,582
At 1 December 2022
25,116
365
25,481
Charge for the year
4,036
-
4,036
At 30 November 2023
29,152
365
29,517
At 30 November 2023
7,064
1
7,065
At 30 November 2022
11,100
1
11,101
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
4,259
4,259
Obligations under finance leases and hire purchase contracts
4,036
4,036
Trade creditors
7,554
6,476
Taxes and social security
7,808
4,573
Other creditors
40,012
25,096
Loans from directors
350
15
D A McNeil Electrical Limited
Notes to the Accounts
for the year ended 30 November 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
3,027
7,062
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Transactions with related parties
The company was under the control of Mr S. D. McNeil and Mr R. D. McNeil throughout the current year. Mr S. D McNeil and Mr R. D. McNeil are both personally interested in 50% of the company's share capital.
Mr S. D. McNeil and Mr R. D. McNeil each received a dividend from the company during the year of £13,250 (2022: £21,325).
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Average number of employees
During the year the average number of employees was 3 (2022: 3).