2023-04-012024-03-312024-03-31false11191314MACKINTOSH & PARKER ELECTRICAL CONTRACTORS 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MACKINTOSH & PARKER ELECTRICAL CONTRACTORS LIMITED

Registered Number
11191314
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

MACKINTOSH & PARKER ELECTRICAL CONTRACTORS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

MACKINTOSH, Alexander
PARKER, Kevin

Registered Address

The Workshop, 6
Standard Way
Northallerton
DL6 2XE

Registered Number

11191314 (England and Wales)
MACKINTOSH & PARKER ELECTRICAL CONTRACTORS LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3-390
Tangible assets4123,97091,271
123,97091,661
Current assets
Stocks591,000110,000
Debtors6110,36443,551
Cash at bank and on hand197,310214,765
398,674368,316
Creditors amounts falling due within one year7(224,304)(230,628)
Net current assets (liabilities)174,370137,688
Total assets less current liabilities298,340229,349
Creditors amounts falling due after one year8(43,509)(41,638)
Provisions for liabilities10(30,900)-
Net assets223,931187,711
Capital and reserves
Called up share capital115115
Profit and loss account223,816187,596
Shareholders' funds223,931187,711
The financial statements were approved and authorised for issue by the Board of Directors on 8 August 2024, and are signed on its behalf by:
MACKINTOSH, Alexander
Director
Registered Company No. 11191314
MACKINTOSH & PARKER ELECTRICAL CONTRACTORS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

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.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. 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.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be five years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
Vehicles15
Office Equipment25
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 Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating 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). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year2215
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2323,40023,400
At 31 March 2423,40023,400
Amortisation and impairment
At 01 April 2323,01023,010
Charge for year390390
At 31 March 2423,40023,400
Net book value
At 31 March 24--
At 31 March 23390390
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 April 2310,621145,7622,376158,759
Additions14,77437,0793,67455,527
Disposals-(2,100)-(2,100)
At 31 March 2425,395180,7416,050212,186
Depreciation and impairment
At 01 April 233,29962,5671,62267,488
Charge for year1,42819,86468721,979
On disposals-(1,251)-(1,251)
At 31 March 244,72781,1802,30988,216
Net book value
At 31 March 2420,66899,5613,741123,970
At 31 March 237,32283,19575491,271
5.Stocks

2024

2023

££
Work in progress61,00080,000
Finished goods30,00030,000
Total91,000110,000
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables90,41741,059
Other debtors19,9472,492
Total110,36443,551
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables10,32229,125
Bank borrowings and overdrafts6,0006,000
Taxation and social security38,89731,273
Finance lease and HP contracts14,6168,994
Other creditors150,133152,136
Accrued liabilities and deferred income4,3363,100
Total224,304230,628
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts9,30315,316
Other creditors34,20626,322
Total43,50941,638
Liabilities under finance leases and hire purchase are secured against the assets to which they relate.
9.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts34,20626,322
10.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)30,900-
Total30,900-
11.Related party transactions
Included in other creditors are loans from the directors. These loans are interest free with no set terms for repayment.
12.Description of reasons for any change in chosen formats of the financial statments
The policies applied under the entity's previous accounting framework are not materially different to FRS 102 1A and have not impacted on equity or profit or loss.