2023-01-012023-12-312023-12-31false02645700NUMAC ENGINEERING 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NUMAC ENGINEERING LIMITED

Registered Number
02645700
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

NUMAC ENGINEERING LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

MCLAREN, Andrew
MCLAREN, Neil Kennedy

Company Secretary

MCLAREN, Andrew

Registered Address

Numac Eng Ltd Gerrard Street
Stalybridge
Cheshire
SK15 2JY

Registered Number

02645700 (England and Wales)
NUMAC ENGINEERING LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets31,404,270976,873
1,404,270976,873
Current assets
Stocks355,494231,589
Debtors4806,941575,078
Cash at bank and on hand109,73724,444
1,272,172831,111
Creditors amounts falling due within one year5(797,171)(668,363)
Net current assets (liabilities)475,001162,748
Total assets less current liabilities1,879,2711,139,621
Creditors amounts falling due after one year6(1,020,610)(787,284)
Provisions for liabilities(155,201)(84,622)
Net assets703,460267,715
Capital and reserves
Called up share capital8080
Share premium4040
Revaluation reserve339,019-
Profit and loss account364,321267,595
Shareholders' funds8703,460267,715
The financial statements were approved and authorised for issue by the Board of Directors on 15 August 2024, and are signed on its behalf by:
MCLAREN, Andrew
Director
Registered Company No. 02645700
NUMAC ENGINEERING LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery15-
Fixtures and fittings15-
Vehicles25-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year2727
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 233,032,198
Additions222,720
Revaluations339,019
At 31 December 233,593,937
Depreciation and impairment
At 01 January 232,055,325
Charge for year134,342
At 31 December 232,189,667
Net book value
At 31 December 231,404,270
At 31 December 22976,873
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables457,938334,808
Other debtors343,792227,861
Prepayments and accrued income5,21112,409
Total806,941575,078
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables268,927136,906
Bank borrowings and overdrafts209,397152,538
Taxation and social security117,004200,000
Finance lease and HP contracts178,218134,330
Other creditors7,56435,609
Accrued liabilities and deferred income16,0618,980
Total797,171668,363
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts846,325612,586
Other creditors174,285174,698
Total1,020,610787,284
7.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts174,285174,697
8.Revaluation reserve
The revaluation reserve represents the cumulative surplus arising from the periodic revaluation of freehold property above their historical cost. The reserve is not distributable to shareholders until such time as the underlying assets are sold or otherwise disposed of, at which point the surplus is transferred to retained earnings. Key Revaluations During the Period: Freehold property was professionally revalued during the year resulting in a revaluation reserve. This reserve is recognized in accordance with UK accounting standards and the Companies Act 2006, reflecting the fair value adjustments to the company’s tangible assets.

£
Revaluations of other assets339,019
At 31 December 23339,019