Company registration number 10935577 (England and Wales)
MCMAHON PROJECTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
MCMAHON PROJECTS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MCMAHON PROJECTS LTD
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
246,008
Current assets
Debtors
4
8,931
40,970
Cash at bank and in hand
2,206
5,114
11,137
46,084
Creditors: amounts falling due within one year
5
(168,398)
(352,836)
Net current liabilities
(157,261)
(306,752)
Net liabilities
(157,261)
(60,744)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(157,361)
(60,844)
Total equity
(157,261)
(60,744)

For the financial year ended 31 August 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 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 4 November 2024
Mr B J McMahon
Director
Company registration number 10935577 (England and Wales)
MCMAHON PROJECTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information

McMahon Projects Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Prospect House, 1 Prospect Place, Derby, DE24 8HG. The company registration number is 10935577.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

 

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% Reducing balance
Fixtures and fittings
20% Reducing balance
Computers
33% Straight line
Motor vehicles
20% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

MCMAHON PROJECTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023
565,972
Additions
977
Disposals
(566,949)
At 31 August 2024
-
0
Depreciation and impairment
At 1 September 2023
319,964
Eliminated in respect of disposals
(319,964)
At 31 August 2024
-
0
Carrying amount
At 31 August 2024
-
0
At 31 August 2023
246,008
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
32,039
Other debtors
8,931
8,931
8,931
40,970
MCMAHON PROJECTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
7,939
Taxation and social security
217
2,594
Other creditors
168,181
342,303
168,398
352,836
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