Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31false2022-11-01trueNo description of principal activity3938falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05455906 2022-11-01 2023-10-31 05455906 2023-10-31 05455906 2021-11-01 2022-10-31 05455906 2022-10-31 05455906 c:CompanySecretary1 2022-11-01 2023-10-31 05455906 c:Director1 2022-11-01 2023-10-31 05455906 c:Director2 2022-11-01 2023-10-31 05455906 c:Director3 2022-11-01 2023-10-31 05455906 c:RegisteredOffice 2022-11-01 2023-10-31 05455906 d:CurrentFinancialInstruments 2023-10-31 05455906 d:CurrentFinancialInstruments 2022-10-31 05455906 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 05455906 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 05455906 d:ShareCapital 2023-10-31 05455906 d:ShareCapital 2022-10-31 05455906 d:RetainedEarningsAccumulatedLosses 2023-10-31 05455906 d:RetainedEarningsAccumulatedLosses 2022-10-31 05455906 c:FRS102 2022-11-01 2023-10-31 05455906 c:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 05455906 c:FullAccounts 2022-11-01 2023-10-31 05455906 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 05455906 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure
Company registration number: 05455906







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 OCTOBER 2023


PRODDOW MACKAY LIMITED






































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PRODDOW MACKAY LIMITED
 



CONTENTS



Page
Company information
1
Accountants' report
2
Statement of financial position
3
Notes to the financial statements
4 - 6


 


PRODDOW MACKAY LIMITED
 


 
COMPANY INFORMATION


Directors
R J Helsby 
D J Mackay 
R S Mackay 




Company secretary
J H Bostock



Registered number
05455906



Registered office
250 Shepcote Lane

Sheffield

South Yorkshire

S9 1TP




Accountants
Menzies LLP
Chartered Accountants

1st Floor

Midas House

62 Goldsworth Road

Woking

Surrey

GU21 6LQ




Page 1

 


PRODDOW MACKAY LIMITED
 

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CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PRODDOW MACKAY LIMITED
FOR THE YEAR ENDED 31 OCTOBER 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 Proddow Mackay Limited for the year ended 31 October 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 to us.
 

As a 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/members/regulations-standards-and-guidance/.


This report is made solely to the Board of directors of Proddow Mackay Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Proddow Mackay Limited and state those matters that we have agreed to state to the Board of directors of Proddow Mackay Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Proddow Mackay Limited and its Board of directors, as a body, for our work or for this report.
 
 
It is your duty to ensure that Proddow Mackay Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit. You consider that Proddow Mackay Limited is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Proddow Mackay 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 financial statements.




$AccRepSigner

Menzies LLP
 
Chartered Accountants
  
1st Floor
Midas House
62 Goldsworth Road
Woking
Surrey
GU21 6LQ


31 October 2024
$AccRepSignerDate

Page 2

 


PRODDOW MACKAY LIMITED
REGISTERED NUMBER:05455906



STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
705,994
649,710

  
705,994
649,710

Creditors: amounts falling due within one year
 5 
(501,844)
(451,524)

Net current assets
  
 
 
204,150
 
 
198,186

Total assets less current liabilities
  
204,150
198,186

  

Net assets
  
204,150
198,186


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
203,150
197,186

  
204,150
198,186


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
D J Mackay
Director

Date: 31 October 2024

The notes on pages 4 to 6 form part of these financial statements.

Page 3

 


PRODDOW MACKAY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Proddow Mackay Limited is a private company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the principal place of business is the same as the company's registered office disclosed on the company information page.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetaryamounts in these financial statements are rounded to the nearest £ .

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 4

 


PRODDOW MACKAY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 39 (2022 - 38).


4.


Debtors

2023
2022
£
£


Trade debtors
153,160
187,249

Amounts owed by joint ventures and associated undertakings
410,216
325,216

Amounts recoverable on contracts
142,618
137,245

705,994
649,710



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
2,172
1,671

Amounts owed to associates
464,939
428,558

Corporation tax
12,912
21,295

Other taxation and social security
16,871
-

Accruals and deferred income
4,950
-

501,844
451,524


Bank borrowing and overdrafts are secured by a fixed and floating charge on the assets of the company.


6.


Contingent liabilities

The company is part of a VAT group in which all members are jointly and severally liable for any VAT the group owes to HMRC. At 31 October 2023 the overall liability held by the associated company Proddow Mackay Solicitors LLP totals £1,086,681 (2022 - £785,481)

Page 5

 


PRODDOW MACKAY LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

7.


Description of nature of transactions and balances with related parties

At the year end date, Proddow Mackay Limited ("The company") had the following transactions:
The company owed £464,939 to Proddow Mackay Solicitors LLP (2022 - £428,558). The loan is interest free and is repayable on demand. The entity is under common control.
The company was owed £410,216 by PM Law Limited (2022 - £325,216). The loan is interest free and is repayable on demand. The entity is under common control.
An inter-company guarantee exists between PM Law Limited, Proddow Mackay Limited and Proddow Mackay (Conveyancing) Limited in favour of Yorkshire Bank Plc.

 
Page 6