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2023-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
05159617
2023-01-01
2023-12-31
05159617
2023-12-31
05159617
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05159617
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2022-12-31
05159617
2022-12-31
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05159617
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2023-12-31
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2023-12-31
05159617
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2023-12-31
05159617
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05159617
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05159617
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2022-12-31
05159617
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2023-12-31
05159617
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2022-12-31
05159617
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05159617
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05159617
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2023-12-31
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2023-12-31
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2023-12-31
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2023-12-31
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05159617
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2022-12-31
COMPANY REGISTRATION NUMBER:
05159617
McCarthy Holden (Odiham) Limited |
|
Filleted Unaudited Financial Statements |
|
McCarthy Holden (Odiham) Limited |
|
Year ended 31 December 2023
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements |
1 |
|
|
Statement of financial position |
2 to 3 |
|
|
Accounting policies |
4 to 5 |
|
|
Notes to the financial statements |
6 to 7 |
|
|
McCarthy Holden (Odiham) Limited |
|
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
McCarthy Holden (Odiham) Limited |
|
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 financial statements of McCarthy Holden (Odiham) Limited for the year ended 31 December 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
PORTER GARLAND
Chartered accountants
Communication House
Victoria Avenue
Camberley
Surrey
GU15 3HX
19 September 2024
McCarthy Holden (Odiham) Limited |
|
Statement of Financial Position |
|
31 December 2023
Fixed assets
Current assets
Debtors |
5 |
58,747 |
|
117,870 |
|
Cash at bank and in hand |
76 |
|
– |
|
|
-------- |
|
--------- |
|
|
58,823 |
|
117,870 |
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
14,874 |
|
15,088 |
|
|
-------- |
|
--------- |
|
Net current assets |
|
43,949 |
|
102,782 |
|
|
-------- |
|
--------- |
Total assets less current liabilities |
|
43,950 |
|
102,783 |
|
|
-------- |
|
--------- |
Net assets |
|
43,950 |
|
102,783 |
|
|
-------- |
|
--------- |
|
|
|
|
|
|
Capital and reserves
Called up share capital |
|
1 |
|
1 |
Profit and loss account |
|
43,949 |
|
102,782 |
|
|
-------- |
|
--------- |
Shareholders funds |
|
43,950 |
|
102,783 |
|
|
-------- |
|
--------- |
|
|
|
|
|
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.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
McCarthy Holden (Odiham) Limited |
|
Statement of Financial Position (continued) |
|
31 December 2023
These financial statements were approved by the
board of directors
and authorised for issue on
19 September 2024
, and are signed on behalf of the board by:
Company registration number:
05159617
McCarthy Holden (Odiham) Limited |
|
Year ended 31 December 2023
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.
Revenue recognition
Turnover comprises the value of sales (net of VAT, similar taxes and trade discounts) of goods and services provided in the normal course of business. Turnover is recognised by reference to the invoice date as this is the point at which the risks and rewards pass to the customer.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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 |
- |
15% straight line |
|
Equipment |
- |
15% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
McCarthy Holden (Odiham) 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 Communication House, Victoria Avenue, Camberley, Surrey, GU15 3HX.
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.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2022:
4
).
4.
Tangible assets
|
Fixtures and fittings |
Equipment |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 January 2023 and 31 December 2023 |
46,377 |
13,853 |
60,230 |
|
-------- |
-------- |
-------- |
Depreciation |
|
|
|
At 1 January 2023 and 31 December 2023 |
46,377 |
13,852 |
60,229 |
|
-------- |
-------- |
-------- |
Carrying amount |
|
|
|
At 31 December 2023 |
– |
1 |
1 |
|
-------- |
-------- |
-------- |
At 31 December 2022 |
– |
1 |
1 |
|
-------- |
-------- |
-------- |
|
|
|
|
5.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
13,978 |
26,230 |
Other debtors |
44,769 |
91,640 |
|
-------- |
--------- |
|
58,747 |
117,870 |
|
-------- |
--------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
– |
145 |
Trade creditors |
4,083 |
5,080 |
Social security and other taxes |
3,291 |
– |
Other creditors |
7,500 |
9,863 |
|
-------- |
-------- |
|
14,874 |
15,088 |
|
-------- |
-------- |
|
|
|
7.
Other financial commitments
The company has the total amount of £60,000 (2022: £80,000) in respect of financial commitments, guarantees and contingencies at the balance sheet date.
8.
Director's advances, credits and guarantees
The directors loan account is not disclosed as permitted under Section 1A of FRS 102.