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MCA Windows And Doors Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Ian Roper & Company Ltd
Chartered Accountants
37 Fore Street
Sidmouth
Devon
EX10 8AQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 9644117
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 18,290 27,435
Tangible Assets 5 26,319 12,246
44,609 39,681
CURRENT ASSETS
Stocks 6 31,156 28,480
Debtors 7 15,480 26,188
Cash at bank and in hand 61,395 35,503
108,031 90,171
Creditors: Amounts Falling Due Within One Year 8 (115,597 ) (85,290 )
NET CURRENT ASSETS (LIABILITIES) (7,566 ) 4,881
TOTAL ASSETS LESS CURRENT LIABILITIES 37,043 44,562
Creditors: Amounts Falling Due After More Than One Year 9 (19,896 ) (14,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,987 ) (2,987 )
NET ASSETS 14,160 27,575
CAPITAL AND RESERVES
Called up share capital 12 2 2
Profit and Loss Account 14,158 27,573
SHAREHOLDERS' FUNDS 14,160 27,575
Page 1
Page 2
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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Steven Taylor
Director
Mrs Laura Taylor
Director
29th August 2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MCA Windows And Doors Limited is a private company, limited by shares, incorporated in England & Wales, registered number 9644117 . The registered office is Unit 4 West End, Lords Meadow Industrial Estate, Crediton, Devon, EX17 1ES.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10%
Plant & Machinery 25%
Motor Vehicles 25%
Fixtures & Fittings 25%
Computer Equipment 33%
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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Page 4
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 5)
4 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 91,450
As at 30 November 2023 91,450
Amortisation
As at 1 December 2022 64,015
Provided during the period 9,145
As at 30 November 2023 73,160
Net Book Value
As at 30 November 2023 18,290
As at 1 December 2022 27,435
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5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 December 2022 9,070 1,291 24,844 359
Additions - 16,995 - 1,788
As at 30 November 2023 9,070 18,286 24,844 2,147
Depreciation
As at 1 December 2022 4,535 1,062 18,764 274
Provided during the period 907 57 3,290 21
As at 30 November 2023 5,442 1,119 22,054 295
Net Book Value
As at 30 November 2023 3,628 17,167 2,790 1,852
As at 1 December 2022 4,535 229 6,080 85
Computer Equipment Total
£ £
Cost
As at 1 December 2022 3,378 38,942
Additions - 18,783
As at 30 November 2023 3,378 57,725
Depreciation
As at 1 December 2022 2,061 26,696
Provided during the period 435 4,710
As at 30 November 2023 2,496 31,406
Net Book Value
As at 30 November 2023 882 26,319
As at 1 December 2022 1,317 12,246
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Motor Vehicles 15,225 -
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Page 6
6. Stocks
2023 2022
£ £
Materials 17,741 9,844
Work in progress 13,415 18,636
31,156 28,480
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 9,143 22,593
Prepayments and accrued income 849 612
Other debtors 5,488 2,983
15,480 26,188
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 3,599 -
Trade creditors 36,521 16,534
Bank loans and overdrafts 7,000 7,000
Corporation tax 13,184 11,939
Other taxes and social security 7,547 2,791
VAT 8,848 10,389
Net wages 4,038 4,350
Other creditors 11,728 11,134
Accruals and deferred income 4,008 2,341
Directors' loan accounts 19,124 18,812
115,597 85,290
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 12,896 -
Bank loans 7,000 14,000
19,896 14,000
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10. Secured Creditors
Of the creditors the following amounts are secured.
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 16,495 -
11. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,727 -
Later than one year and not later than five years 16,938 -
21,665 -
Less: Finance charges allocated to future periods 5,170 -
16,495 -
12. Share Capital
2023 2022
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1 each 2 2
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