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REGISTERED NUMBER: 07290586 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 March 2024

for

Mcgee Ductwork Limited

Mcgee Ductwork Limited (Registered number: 07290586)

Contents of the Financial Statements
For The Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mcgee Ductwork Limited

Company Information
For The Year Ended 31 March 2024







DIRECTORS: J D Garrington
R W G Triggs





SECRETARY:





REGISTERED OFFICE: Unit 2A
Mounument Business Centre
Monument Way East
Woking
Surrey
GU21 5LG





REGISTERED NUMBER: 07290586 (England and Wales)





ACCOUNTANTS: Hunt Ford & Co
Osborne House
143-145 Stanwell Road
Ashford
Middlesex
TW15 3QN

Mcgee Ductwork Limited (Registered number: 07290586)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 150,000 225,000

CURRENT ASSETS
Debtors 5 1,717,727 1,777,531
Cash at bank 454,360 592,850
2,172,087 2,370,381
CREDITORS
Amounts falling due within one year 6 563,834 680,790
NET CURRENT ASSETS 1,608,253 1,689,591
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,758,253

1,914,591

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Revaluation reserve 7 500,000 500,000
Retained earnings 7 1,248,253 1,404,591
SHAREHOLDERS' FUNDS 1,758,253 1,914,591

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Mcgee Ductwork Limited (Registered number: 07290586)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2024 and were signed on its behalf by:




J D Garrington - Director



R W G Triggs - Director


Mcgee Ductwork Limited (Registered number: 07290586)

Notes to the Financial Statements
For The Year Ended 31 March 2024


1. STATUTORY INFORMATION

Mcgee Ductwork Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is being amortised equally over ten years from 2017.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Mcgee Ductwork Limited (Registered number: 07290586)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 750,000
AMORTISATION
At 1 April 2023 525,000
Charge for year 75,000
At 31 March 2024 600,000
NET BOOK VALUE
At 31 March 2024 150,000
At 31 March 2023 225,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 1,607,525 1,708,315
Other debtors 110,202 69,216
1,717,727 1,777,531

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 325,357 437,688
Taxation and social security 32,262 25,492
Other creditors 206,215 217,610
563,834 680,790

Mcgee Ductwork Limited (Registered number: 07290586)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024


7. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 1,404,591 500,000 1,904,591
Deficit for the year (10,338 ) (10,338 )
Dividends (146,000 ) (146,000 )
At 31 March 2024 1,248,253 500,000 1,748,253

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end there were loans due to the directors as follows:
JD Garrington £60,000 (2023 £60,000 )
RWG Triggs £60,000 (2023 £60,000 )

These outstanding loans are included in other creditors in note 7.

9. ULTIMATE CONTROLLING PARTY

JD Garrington and RWG Triggs as directors and equal shareholders have remained in ultimate control of the company.