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REGISTERED NUMBER: 14441398 (England and Wales)















J P MCGUIRE DEVELOPMENTS BOLTON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 25 OCTOBER 2022 TO 31 DECEMBER 2023






J P MCGUIRE DEVELOPMENTS BOLTON LIMITED (REGISTERED NUMBER: 14441398)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 25 OCTOBER 2022 TO 31 DECEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


J P MCGUIRE DEVELOPMENTS BOLTON LIMITED

COMPANY INFORMATION
FOR THE PERIOD 25 OCTOBER 2022 TO 31 DECEMBER 2023







DIRECTOR: J N Twentyman





REGISTERED OFFICE: The Exchange
5 Bank Street
Bury
Lancashire
BL9 0DN





REGISTERED NUMBER: 14441398 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
The Exchange
5 Bank Street
Bury
Lancashire
BL9 0DN

J P MCGUIRE DEVELOPMENTS BOLTON LIMITED (REGISTERED NUMBER: 14441398)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

Notes £   
CURRENT ASSETS
Inventory 9,046,290
Debtors 4 184,261
Cash at bank 61,213
9,291,764
CREDITORS
Amounts falling due within one year 5 (3,136,765 )
NET CURRENT ASSETS 6,154,999
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,154,999

CREDITORS
Amounts falling due after more than one
year

6

(6,871,603

)
NET LIABILITIES (716,604 )

CAPITAL AND RESERVES
Called up share capital 1
Retained earnings (716,605 )
(716,604 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 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.

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 17 August 2024 and were signed by:



J N Twentyman - Director


J P MCGUIRE DEVELOPMENTS BOLTON LIMITED (REGISTERED NUMBER: 14441398)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 25 OCTOBER 2022 TO 31 DECEMBER 2023


1. STATUTORY INFORMATION

J P McGuire Developments Bolton Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 14441398 and the registered office address is The Exchange, 5 Bank Street, Bury, Lancashire, BL9 0DN.

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.

The company has the full support of it's director via a connected company loan, and also a director's loan which will not be repaid within one year. Therefore the director has adopted the going concern basis in preparing the financial statements.

Preparation of consolidated financial statements
The financial statements contain information about J P Mcguire Developments Bolton Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

i) Making judgement based on historical experience on the level of provision required for impairment of work in progress. Further information received after the statement of financial position date may impact on the level of provision required.

Inventory
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items. Net realisable value is estimated selling price less costs to complete and sell.

Cost includes any direct materials, direct labour costs and those overheads that have been incurred in bringing inventories to their present condition.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Basic financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost.

J P MCGUIRE DEVELOPMENTS BOLTON LIMITED (REGISTERED NUMBER: 14441398)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 25 OCTOBER 2022 TO 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the period 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 184,261

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 214,278
Amounts owed to group 2,730,330
Taxation and social security 83,223
Other creditors 108,934
3,136,765

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Bank loans 5,591,621
Other creditors 1,279,982
6,871,603

J P MCGUIRE DEVELOPMENTS BOLTON LIMITED (REGISTERED NUMBER: 14441398)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 25 OCTOBER 2022 TO 31 DECEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
£   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 5,591,621

7. SECURED DEBTS

The following secured debts are included within creditors:

£   
Bank loans 5,591,621

The bank loan is secured on all the freehold land and property at Union Mill, Vernon Street, Bolton BL1 2PT.