Registered number
09535770
A and K McQuire Limited
Filleted Accounts
30 April 2024
A and K McQuire Limited
Registered number: 09535770
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 197,465 144,830
Current assets
Stocks 85,000 105,000
Debtors 5 675,006 439,647
Cash at bank and in hand 1,225,990 1,244,962
1,985,996 1,789,609
Creditors: amounts falling due within one year 6 (902,825) (835,847)
Net current assets 1,083,171 953,762
Net assets 1,280,636 1,098,592
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,280,536 1,098,492
Shareholders' funds 1,280,636 1,098,592
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A McQuire
Director
Approved by the board on 28 August 2024
A and K McQuire Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% straight line
Motor Vehicles 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 8,000
At 30 April 2024 8,000
Amortisation
At 1 May 2023 8,000
At 30 April 2024 8,000
Net book value
At 30 April 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 87,929 355,689 443,618
Additions 3,825 152,599 156,424
Disposals - (7,250) (7,250)
At 30 April 2024 91,754 501,038 592,792
Depreciation
At 1 May 2023 79,961 218,827 298,788
Charge for the year 3,484 93,055 96,539
At 30 April 2024 83,445 311,882 395,327
Net book value
At 30 April 2024 8,309 189,156 197,465
At 30 April 2023 7,968 136,862 144,830
5 Debtors 2024 2023
£ £
Trade debtors 264,116 217,480
Other debtors 410,890 222,167
675,006 439,647
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 16,325 11,581
Trade creditors 695,726 663,766
Taxation and social security costs 11,174 27,879
Other creditors 179,600 132,621
902,825 835,847
7 Other information
A and K McQuire Limited is a private company limited by shares and incorporated in England. Its registered office is:
12a Montpellier Parade
Harrogate
North Yorkshire
HG1 2TJ
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