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J. A. MCDONAGH ENGINEERING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






J. A. MCDONAGH ENGINEERING LIMITED (REGISTERED NUMBER: 01297772)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J. A. MCDONAGH ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: J A McDonagh (Snr)
J A McDonagh
Mrs R H McDonagh





REGISTERED OFFICE: Unit 16, Northedge Business Park,
Alfreton Road
Derby
Derbyshire
DE21 4BN





REGISTERED NUMBER: 01297772 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

J. A. MCDONAGH ENGINEERING LIMITED (REGISTERED NUMBER: 01297772)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,377 11,732
Tangible assets 5 458,391 322,973
Investments 6 - 200
468,768 334,905

CURRENT ASSETS
Stocks 97,600 97,600
Debtors 7 825,753 1,034,086
Cash at bank 1,088,245 560,542
2,011,598 1,692,228
CREDITORS
Amounts falling due within one year 8 634,760 430,588
NET CURRENT ASSETS 1,376,838 1,261,640
TOTAL ASSETS LESS CURRENT LIABILITIES 1,845,606 1,596,545

CREDITORS
Amounts falling due after more than one year 9 (122,974 ) (61,302 )

PROVISIONS FOR LIABILITIES 12 (110,700 ) (58,100 )
NET ASSETS 1,611,932 1,477,143

CAPITAL AND RESERVES
Called up share capital 13 200 200
Retained earnings 1,611,732 1,476,943
SHAREHOLDERS' FUNDS 1,611,932 1,477,143

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

J. A. MCDONAGH ENGINEERING LIMITED (REGISTERED NUMBER: 01297772)

BALANCE SHEET - continued
31 JANUARY 2024


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 Board of Directors and authorised for issue on 24 August 2024 and were signed on its behalf by:





J A McDonagh - Director


J. A. MCDONAGH ENGINEERING LIMITED (REGISTERED NUMBER: 01297772)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

J. A. McDonagh Engineering Limited 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 (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

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

J. A. MCDONAGH ENGINEERING LIMITED (REGISTERED NUMBER: 01297772)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 February 2023
and 31 January 2024 13,550
AMORTISATION
At 1 February 2023 1,818
Amortisation for year 1,355
At 31 January 2024 3,173
NET BOOK VALUE
At 31 January 2024 10,377
At 31 January 2023 11,732

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 February 2023 6,600 1,407,153 137,298 1,551,051
Additions 9,100 246,601 61,088 316,789
Disposals - (46,613 ) (38,295 ) (84,908 )
At 31 January 2024 15,700 1,607,141 160,091 1,782,932
DEPRECIATION
At 1 February 2023 - 1,125,639 102,439 1,228,078
Charge for year - 140,714 17,157 157,871
Eliminated on disposal - (46,613 ) (14,795 ) (61,408 )
At 31 January 2024 - 1,219,740 104,801 1,324,541
NET BOOK VALUE
At 31 January 2024 15,700 387,401 55,290 458,391
At 31 January 2023 6,600 281,514 34,859 322,973

J. A. MCDONAGH ENGINEERING LIMITED (REGISTERED NUMBER: 01297772)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2023 200
Disposals (200 )
At 31 January 2024 -
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 200

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 793,788 1,010,075
Other debtors 31,965 24,011
825,753 1,034,086

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 9,555
Hire purchase contracts (see note 10) 57,798 36,557
Trade creditors 306,655 189,129
Amounts owed to group undertakings - 3,802
Taxation and social security 202,759 124,424
Other creditors 57,548 67,121
634,760 430,588

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 21,583 31,336
Hire purchase contracts (see note 10) 101,391 29,966
122,974 61,302

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 57,798 36,557
Between one and five years 101,391 29,966
159,189 66,523

J. A. MCDONAGH ENGINEERING LIMITED (REGISTERED NUMBER: 01297772)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 31,583 40,891
Hire purchase contracts 159,189 66,523
190,772 107,414

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 110,700 58,100

Deferred
tax
£   
Balance at 1 February 2023 58,100
Provided during year 52,600
Balance at 31 January 2024 110,700

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary 1 200 200