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REGISTERED NUMBER: 06438836 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

MACFARLANE CONCRETE PUMPING LTD

MACFARLANE CONCRETE PUMPING LTD (REGISTERED NUMBER: 06438836)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MACFARLANE CONCRETE PUMPING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: J T Macfarlane





SECRETARY: J T Macfarlane





REGISTERED OFFICE: Winsford Saw Mills
Smokehall Lane
Winsford
Cheshire
CW7 3BE





REGISTERED NUMBER: 06438836 (England and Wales)





ACCOUNTANTS: Michael Donnan & Co Limited
Oaktree Court Business Ctr
Mill Lane
Ness
Cheshire
CH64 8TP

MACFARLANE CONCRETE PUMPING LTD (REGISTERED NUMBER: 06438836)

BALANCE SHEET
30 NOVEMBER 2023

30/11/23 30/11/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,263,344 2,938,597

CURRENT ASSETS
Stocks 87,100 315,779
Debtors 5 239,787 477,332
Cash at bank 38,604 61,382
365,491 854,493
CREDITORS
Amounts falling due within one year 6 1,084,034 1,107,868
NET CURRENT LIABILITIES (718,543 ) (253,375 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,544,801

2,685,222

CREDITORS
Amounts falling due after more than
one year

7

(1,400,517

)

(2,251,672

)

PROVISIONS FOR LIABILITIES (90,000 ) (111,704 )
NET ASSETS 54,284 321,846

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 10 54,282 321,844
SHAREHOLDERS' FUNDS 54,284 321,846

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

MACFARLANE CONCRETE PUMPING LTD (REGISTERED NUMBER: 06438836)

BALANCE SHEET - continued
30 NOVEMBER 2023


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 23 August 2024 and were signed by:





J T Macfarlane - Director


MACFARLANE CONCRETE PUMPING LTD (REGISTERED NUMBER: 06438836)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Macfarlane Concrete Pumping Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


Transactions are rounded to the nearest £.

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.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 25% on reducing balance
Plant and machinery - at variable rates on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 33% on reducing balance
Computer equipment - 33% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


MACFARLANE CONCRETE PUMPING LTD (REGISTERED NUMBER: 06438836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MACFARLANE CONCRETE PUMPING LTD (REGISTERED NUMBER: 06438836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 December 2022 80,839 3,456,086 16,452
Additions - 249,995 -
Disposals - (1,085,243 ) -
At 30 November 2023 80,839 2,620,838 16,452
DEPRECIATION
At 1 December 2022 7,980 681,426 3,138
Charge for year 18,215 164,265 3,329
Eliminated on disposal - (406,276 ) -
At 30 November 2023 26,195 439,415 6,467
NET BOOK VALUE
At 30 November 2023 54,644 2,181,423 9,985
At 30 November 2022 72,859 2,774,660 13,314

MACFARLANE CONCRETE PUMPING LTD (REGISTERED NUMBER: 06438836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2022 168,161 13,568 3,735,106
Additions 39,930 1,413 291,338
Disposals (142,515 ) (3,880 ) (1,231,638 )
At 30 November 2023 65,576 11,101 2,794,806
DEPRECIATION
At 1 December 2022 92,751 11,214 796,509
Charge for year 7,446 1,078 194,333
Eliminated on disposal (49,512 ) (3,592 ) (459,380 )
At 30 November 2023 50,685 8,700 531,462
NET BOOK VALUE
At 30 November 2023 14,891 2,401 2,263,344
At 30 November 2022 75,410 2,354 2,938,597

MACFARLANE CONCRETE PUMPING LTD (REGISTERED NUMBER: 06438836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 December 2022 3,314,797 37,251 3,352,048
Additions 249,995 39,930 289,925
Disposals (1,061,678 ) (39,930 ) (1,101,608 )
Transfer to ownership (13,119 ) - (13,119 )
At 30 November 2023 2,489,995 37,251 2,527,246
DEPRECIATION
At 1 December 2022 609,237 20,179 629,416
Charge for year 163,045 5,691 168,736
Eliminated on disposal (342,562 ) - (342,562 )
Transfer to ownership (3,915 ) - (3,915 )
At 30 November 2023 425,805 25,870 451,675
NET BOOK VALUE
At 30 November 2023 2,064,190 11,381 2,075,571
At 30 November 2022 2,705,560 17,072 2,722,632

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Trade debtors 222,325 327,510
Other debtors - 58,089
Tax 14,483 -
VAT - 80,783
Prepayments and accrued income 2,979 10,950
239,787 477,332

MACFARLANE CONCRETE PUMPING LTD (REGISTERED NUMBER: 06438836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Bank loans and overdrafts 453,860 360,709
Hire purchase contracts (see note 8)
473,656

584,634
Trade creditors 60,938 135,027
Social security and other taxes - 5,867
VAT 16,350 -
Other creditors 14,351 17,344
Directors' current accounts 61,379 1,735
Accrued expenses 3,500 2,552
1,084,034 1,107,868

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30/11/23 30/11/22
£    £   
Bank loans and overdrafts 132,357 549,545
Bank loans - 2-5 years 194,263 -
Hire purchase contracts (see note 8)
1,018,897

1,702,127
Other creditors 55,000 -
1,400,517 2,251,672

The amount of total £55,122 included in creditors due within one year and after one year is subject to a UK Government guarantee. The facility is provided through the Coronavirus Business Interruption Scheme (CBILS), managed by the British Business Bank on Behalf and with the Financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The CBILS guarantee is provided to the lender.

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
30/11/23 30/11/22
£    £   
Net obligations repayable:
Within one year 473,656 584,634
Between one and five years 1,018,897 1,702,127
1,492,553 2,286,761

MACFARLANE CONCRETE PUMPING LTD (REGISTERED NUMBER: 06438836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


8. LEASING AGREEMENTS - continued

Hire purchase contracts
The loan and hire purchase obligations are secured against motor vehicle and plant & machinery assets with a book value of £2,075,571.

Operating leases
At 30 November 2023, the company had total commitments under operating leases over the remaining life of those leases of £193,122 (2022 - £244,055). The commitments are due by:

£50,933 less than one year
£50,933 between one and two years
£91,255 between two and five years

There is a Break Clause available to exercise from 15 September 2024 on the total commitments whereby notice of a minimum of six months can be given to terminate the lease.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/11/23 30/11/22
value: £    £   
2 Ordinary 1 2 2

10. RESERVES
Retained
earnings
£   

At 1 December 2022 321,844
Deficit for the year (267,562 )
At 30 November 2023 54,282

11. EXCEPTIONAL ITEMS

During the year, the company restructured its business operations and reduced the number of pumps included in the fleet. In doing so, an exceptional cost of £119,660 was incurred which relates to charges from early settlement of hire purchase agreements.