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Darren MacDonald Funeral Directors Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 June 2024

Registration number: 09096171

 

Darren MacDonald Funeral Directors Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 9

 

Darren MacDonald Funeral Directors Limited

Balance Sheet

30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,138,501

853,862

Current assets

 

Debtors

5

6,499

3,498

Cash at bank and in hand

 

114,397

54,635

 

120,896

58,133

Creditors: Amounts falling due within one year

6

(354,719)

(279,124)

Net current liabilities

 

(233,823)

(220,991)

Total assets less current liabilities

 

904,678

632,871

Creditors: Amounts falling due after more than one year

6

(845,414)

(509,254)

Provisions for liabilities

(20,329)

(35,824)

Net assets

 

38,935

87,793

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

38,835

87,693

Shareholders' funds

 

38,935

87,793

 

Darren MacDonald Funeral Directors Limited

Balance Sheet

30 June 2024

For the financial year ending 30 June 2024 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 8 October 2024
 

.........................................
D S P MacDonald
Director

Company Registration Number: 09096171

 

Darren MacDonald Funeral Directors Limited

Notes to the Financial Statements

Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
26 Pennyfarthing Street
Salisbury
Wiltshire
SP1 1HJ

These financial statements were authorised for issue by the director on 8 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The director has considered if there is sufficient working capital to meet these requirements, along with scheduled borrowing repayments, for a period of at least twelve months from the date of approval of these financial statements. Following this review, based on the information available to date the director is satisfied that the company has sufficient cash balances to meet these requirements and, accordingly, the director continues to adopt the going concern basis of presentation.

Revenue recognition

Turnover represents amounts chargeable in respect of goods and services provided to customers.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Darren MacDonald Funeral Directors Limited

Notes to the Financial Statements

Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

15% per annum, reducing balance

Other property, plant and equipment

25% per annum, reducing balance

Furniture, fittings and equipment

25% per annum, reducing balance

Land and buildings

Nil

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Darren MacDonald Funeral Directors Limited

Notes to the Financial Statements

Year Ended 30 June 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2023 - 12).

 

Darren MacDonald Funeral Directors Limited

Notes to the Financial Statements

Year Ended 30 June 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 July 2023

264,621

31,823

770,806

23,536

1,090,786

Additions

-

-

482,727

-

482,727

Disposals

-

-

(96,106)

-

(96,106)

At 30 June 2024

264,621

31,823

1,157,427

23,536

1,477,407

Depreciation

At 1 July 2023

-

25,762

192,626

18,536

236,924

Charge for the year

-

1,521

152,756

1,253

155,530

Eliminated on disposal

-

-

(53,548)

-

(53,548)

At 30 June 2024

-

27,283

291,834

19,789

338,906

Carrying amount

At 30 June 2024

264,621

4,540

865,593

3,747

1,138,501

At 30 June 2023

264,621

6,061

578,180

5,000

853,862

Included within the net book value of land and buildings above is £264,621 (2023 - £264,621) in respect of freehold land and buildings of which there is a legal charge on the property.
 

 

Darren MacDonald Funeral Directors Limited

Notes to the Financial Statements

Year Ended 30 June 2024

5

Debtors

2024
£

2023
£

Trade debtors

2,999

-

Other debtors

3,500

3,498

6,499

3,498

 

Darren MacDonald Funeral Directors Limited

Notes to the Financial Statements

Year Ended 30 June 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

130,989

81,232

Trade creditors

 

11,616

-

Taxation and social security

 

676

-

Accruals and deferred income

 

6,747

7,165

Other creditors

 

204,691

190,727

 

354,719

279,124

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

845,414

509,254

7

Loans and borrowings

2024
£

2023
£

Loans and borrowings due after one year

Bank borrowings

98,720

22,991

HP and finance lease liabilities

746,694

486,263

845,414

509,254

Current loans and borrowings

2024
£

2023
£

Bank borrowings

24,086

12,896

Hire purchase contracts

106,903

68,336

130,989

81,232

Security has been given on the aggregate value of finance leases held by the company.

 

Darren MacDonald Funeral Directors Limited

Notes to the Financial Statements

Year Ended 30 June 2024

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £6,118 (2023 - £12,236). These relate to operating leases of which are due within one year.