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Registered number: 09569326
McCormick Construction Consultancy Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Inchmead Accountants Limited
100 Berkshire Place
Winnersh
Wokingham
RG41 5RD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09569326
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 81,138 50,695
81,138 50,695
CURRENT ASSETS
Debtors 5 382,287 250,824
Cash at bank and in hand 184,737 40,704
567,024 291,528
Creditors: Amounts Falling Due Within One Year 6 (275,467 ) (121,567 )
NET CURRENT ASSETS (LIABILITIES) 291,557 169,961
TOTAL ASSETS LESS CURRENT LIABILITIES 372,695 220,656
Creditors: Amounts Falling Due After More Than One Year 7 (102,127 ) (89,115 )
NET ASSETS 270,568 131,541
CAPITAL AND RESERVES
Called up share capital 8 3,998 3,998
Profit and Loss Account 266,570 127,543
SHAREHOLDERS' FUNDS 270,568 131,541
Page 1
Page 2
For the year ending 30 April 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Daniel Mccormick
Director
8 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
McCormick Construction Consultancy Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09569326 . The registered office is Inchmead Suite, 100 Berkshire Place, Winnersh, Wokingham, RG41 5RD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 5 years straight line
Fixtures & Fittings 3 years straight line
Computer Equipment 3 years straight line
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 67,491 - - 67,491
Additions 40,367 4,870 1,917 47,154
As at 30 April 2024 107,858 4,870 1,917 114,645
Depreciation
As at 1 May 2023 16,796 - - 16,796
Provided during the period 15,517 954 240 16,711
As at 30 April 2024 32,313 954 240 33,507
Net Book Value
As at 30 April 2024 75,545 3,916 1,677 81,138
As at 1 May 2023 50,695 - - 50,695
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 261,893 121,119
Prepayments and accrued income (115,000 ) -
Other debtors 71,089 6,306
Corporation tax recoverable assets 9,948 28,515
VAT 70,256 62,585
Other taxes and social security 69,928 32,299
Net wages 4,173 -
Directors' loan accounts 10,000 -
382,287 250,824
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 263,992 118,034
Bank loans and overdrafts 2,276 -
Corporation tax 9,199 -
Net wages - 3,533
275,467 121,567
Page 4
Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 26,899 31,913
Other creditors (1) 75,228 57,202
102,127 89,115
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3,998 3,998
9. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr Andre Schwarze 82,410 29,392
Mr Daniel Mccormick 79,765 67,669
10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 162,175 97,057
Page 5