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COMPANY REGISTRATION NUMBER: 09107158
MACOI Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2023
MACOI Limited
Financial Statements
Year ended 31 December 2023
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
MACOI Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
2,094
2,887
Current assets
Stocks
23,030
31,184
Debtors
6
127,833
119,423
Cash at bank and in hand
6,628
1,710
---------
---------
157,491
152,317
Creditors: amounts falling due within one year
7
128,802
180,036
---------
---------
Net current assets/(liabilities)
28,689
( 27,719)
--------
--------
Total assets less current liabilities
30,783
( 24,832)
Creditors: amounts falling due after more than one year
8
19,249
29,167
--------
--------
Net assets/(liabilities)
11,534
( 53,999)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
11,434
( 54,099)
--------
--------
Shareholders funds/(deficit)
11,534
( 53,999)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MACOI Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 30 July 2024 , and are signed on behalf of the board by:
D Griffin
Director
Company registration number: 09107158
MACOI Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Potton House, Wyboston Lakes, Great North Road, Wyboston, Bedford, MK44 3BZ. The principal place of business is Centree House, Unit 6-8, Bicton Industrial Park, Kimbolton, Huntingdon, Cambridgeshire, PE28 0LQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements. The company is supported by bank loans and by other companies within the group and the directors have concluded that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.
Revenue recognition
The turnover shown in the Statement of Income and Retained Earnings represents the goods and services supplied during the period, exclusive of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
33% straight line
Motor vehicles
-
25% reducing balance
Stocks
Goods for resale have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items.
Defined contribution pension plans
The company makes contributions to defined contribution pension schemes for the benefit of directors and employees. The assets of the schemes are held separately from those of the company. The contributions due for the period are charged to the Statement of Income and Retained Earnings.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
22,145
20,818
42,963
--------
--------
--------
Depreciation
At 1 January 2023
22,145
17,931
40,076
Charge for the year
793
793
--------
--------
--------
At 31 December 2023
22,145
18,724
40,869
--------
--------
--------
Carrying amount
At 31 December 2023
2,094
2,094
--------
--------
--------
At 31 December 2022
2,887
2,887
--------
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
17,432
24,145
Amounts owed by group undertakings and undertakings in which the company has a participating interest
84,845
83,064
Other debtors
25,556
12,214
---------
---------
127,833
119,423
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
58,185
47,511
Amounts owed to group undertakings and undertakings in which the company has a participating interest
56,378
118,114
Other creditors
4,239
4,411
---------
---------
128,802
180,036
---------
---------
Bank loans and overdrafts are liabilities secured by the UK Government under the coronavirus Bounce Back Loan Scheme.
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
19,249
29,167
--------
--------
Bank loans and overdrafts are liabilities secured by the UK Government under the coronavirus Bounce Back Loan Scheme.
9. Controlling party
The company's parent undertaking is C.O.I. Properties Limited, a company incorporated in England and Wales and whose registered office address is Potton House, Wyboston Lakes, Great North Road, Wyboston, Bedford, MK44 3BZ.