Company Registration No. 06778934 (England and Wales)
McGimpsey Vallis Limited
Unaudited accounts
for the year ended 31 December 2023
McGimpsey Vallis Limited
Unaudited accounts
Contents
McGimpsey Vallis Limited
Company Information
for the year ended 31 December 2023
Directors
John McGimpsey
Mark Vallis
Company Number
06778934 (England and Wales)
Registered Office
Oakley Road
Chinnor
OX39 4TW
Accountants
Akusika Business Services Ltd
Sapphire House
116 Station Road
Chinnor
Oxon
OX39 4QG
McGimpsey Vallis Limited
Accountants' report
Accountants' report to the board of directors of McGimpsey Vallis Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
McGimpsey Vallis Limited for the year ended
31 December 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of McGimpsey Vallis Limited, as a body, in accordance with the terms of our engagement letter dated 4 January 2022. Our work has been undertaken solely to prepare for your approval the accounts of McGimpsey Vallis Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than McGimpsey Vallis Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that McGimpsey Vallis Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of McGimpsey Vallis Limited. You consider that McGimpsey Vallis Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of McGimpsey Vallis Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Akusika Business Services Ltd
Sapphire House
116 Station Road
Chinnor
Oxon
OX39 4QG
30 August 2024
McGimpsey Vallis Limited
Statement of financial position
as at 31 December 2023
Tangible assets
161,003
113,807
Investment property
328,575
65,109
Cash at bank and in hand
477,614
546,522
Creditors: amounts falling due within one year
(743,789)
(579,208)
Net current (liabilities)/assets
(88,939)
171,784
Total assets less current liabilities
400,639
413,558
Creditors: amounts falling due after more than one year
(36,855)
(36,529)
Net assets
363,784
377,029
Called up share capital
700
700
Revaluation reserve
36,670
36,670
Profit and loss account
326,414
339,659
Shareholders' funds
363,784
377,029
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. 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by
John McGimpsey
Director
Company Registration No. 06778934
McGimpsey Vallis Limited
Notes to the Accounts
for the year ended 31 December 2023
McGimpsey Vallis Limited is a private company, limited by shares, registered in England and Wales, registration number 06778934. The registered office is Oakley Road, Chinnor, OX39 4TW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
NPV per year
Plant & machinery
18% reducing balance
Motor vehicles
18% reducing value
Fixtures & fittings
18% reducing balance
Computer equipment
18% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
At 31 December 2023
20,728
At 31 December 2023
20,728
Specialist motor and IT software amortised at 18% reducing balance
McGimpsey Vallis Limited
Notes to the Accounts
for the year ended 31 December 2023
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2023
133,590
296,883
5,294
5,110
440,877
Additions
-
82,539
-
-
82,539
At 31 December 2023
133,590
379,422
5,294
5,110
523,416
At 1 January 2023
105,301
216,173
3,303
2,293
327,070
Charge for the year
5,092
29,385
359
507
35,343
At 31 December 2023
110,393
245,558
3,662
2,800
362,413
At 31 December 2023
23,197
133,864
1,632
2,310
161,003
At 31 December 2022
28,289
80,710
1,991
2,817
113,807
Fair value at 1 January 2023
65,109
At 31 December 2023
328,575
2 Investment properties owned during the year
7
Investments
Other investments
Valuation at 1 January 2023
57,213
Valuation at 31 December 2023
-
Amounts falling due within one year
Trade debtors
177,236
163,393
McGimpsey Vallis Limited
Notes to the Accounts
for the year ended 31 December 2023
9
Creditors: amounts falling due within one year
2023
2022
Trade creditors
52,412
95,562
Taxes and social security
278,707
205,214
Proposed dividends
206,000
151,000
Loans from directors
114,380
60,438
10
Creditors: amounts falling due after more than one year
2023
2022
Taxes and social security
3,439
3,113
Allotted, called up and fully paid:
700 Ordinary shares of £1 each
700
700
12
Average number of employees
During the year the average number of employees was 9 (2022: 8).