Company Registration No. 04834491 (England and Wales)
MC Lead Glaziers Limited
Unaudited accounts
for the year ended 30 November 2023
MC Lead Glaziers Limited
Unaudited accounts
Contents
MC Lead Glaziers Limited
Company Information
for the year ended 30 November 2023
Company Number
04834491 (England and Wales)
Registered Office
Unit 2 251 Holt Road
Horsford
Norwich
Norfolk
NR10 3EB
Accountants
Mrs A C Howell
13 Ipswich Grove
Norwich
Norfolk
NR2 2LU
MC Lead Glaziers Limited
Statement of financial position
as at 30 November 2023
Intangible assets
128,585
140,901
Tangible assets
25,620
31,910
Cash at bank and in hand
51,778
142,872
Creditors: amounts falling due within one year
(138,828)
(174,707)
Net current (liabilities)/assets
(50,736)
7,690
Total assets less current liabilities
103,469
180,501
Creditors: amounts falling due after more than one year
(14,598)
(24,300)
Provisions for liabilities
Deferred tax
(4,868)
(5,276)
Called up share capital
1
1
Profit and loss account
84,002
150,924
Shareholders' funds
84,003
150,925
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 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 15 August 2024 and were signed on its behalf by
P M Campling
Director
Company Registration No. 04834491
MC Lead Glaziers Limited
Notes to the Accounts
for the year ended 30 November 2023
MC Lead Glaziers Limited is a private company, limited by shares, registered in England and Wales, registration number 04834491. The registered office is Unit 2 251 Holt Road, Horsford, Norwich, Norfolk, NR10 3EB.
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. 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:
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
25% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
Stock has 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.
MC Lead Glaziers Limited
Notes to the Accounts
for the year ended 30 November 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
At 1 December 2022
246,313
At 30 November 2023
246,313
At 1 December 2022
105,412
Charge for the year
12,316
At 30 November 2023
117,728
At 30 November 2023
128,585
At 30 November 2022
140,901
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 December 2022
83,170
46,234
129,404
At 30 November 2023
83,412
46,234
129,646
At 1 December 2022
65,752
31,742
97,494
Charge for the year
2,908
3,624
6,532
At 30 November 2023
68,660
35,366
104,026
At 30 November 2023
14,752
10,868
25,620
At 30 November 2022
17,418
14,492
31,910
Amounts falling due within one year
Trade debtors
25,012
24,080
Accrued income and prepayments
6,369
11,023
MC Lead Glaziers Limited
Notes to the Accounts
for the year ended 30 November 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,648
10,648
Trade creditors
1,969
2,148
Taxes and social security
(6,065)
6,065
Loans from directors
130,682
138,889
8
Creditors: amounts falling due after more than one year
2023
2022
9
Transactions with related parties
The director provided the company with an unsecured interest free loan on balances outstanding at the year end. At the year end this amounted to £130,682 (2022: £138,889)
10
Average number of employees
During the year the average number of employees was 3 (2022: 3).