Company registration number 03517608 (England and Wales)
EDWARD MACKENZIE LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
EDWARD MACKENZIE LIMITED
CONTENTS
Page
Director's report
Balance sheet
1
Notes to the financial statements
2 - 4
EDWARD MACKENZIE LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,071
4,566
Current assets
Cash at bank and in hand
4,747
10,559
Creditors: amounts falling due within one year
4
(4,467)
(5,569)
Net current assets
280
4,990
Total assets less current liabilities
5,351
9,556
Creditors: amounts falling due after more than one year
5
(975)
(1,875)
Net assets
4,376
7,681
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
4,276
7,581
Total equity
4,376
7,681
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 5 November 2024
J Hague
Director
Company registration number 03517608 (England and Wales)
EDWARD MACKENZIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information
Edward Mackenzie Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Lace Market Square, Nottingham, NG1 1PB. The company registration number is 03517608.
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. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Turnover is recognised when services are provided.
1.3
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
15% reducing balance
Fixtures and fittings
15% reducing balance
Computers
33% 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.
1.4
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
EDWARD MACKENZIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
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 equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 May 2023
11,446
3,845
15,291
Additions
108
208
1,922
2,238
Disposals
(2,555)
(1,264)
(3,819)
At 30 April 2024
108
9,099
4,503
13,710
Depreciation and impairment
At 1 May 2023
8,606
2,119
10,725
Depreciation charged in the year
16
398
1,001
1,415
Eliminated in respect of disposals
(2,296)
(1,205)
(3,501)
At 30 April 2024
16
6,708
1,915
8,639
Carrying amount
At 30 April 2024
92
2,391
2,588
5,071
At 30 April 2023
2,840
1,726
4,566
EDWARD MACKENZIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
900
900
Corporation tax
203
1,807
Other taxation and social security
1,269
1,798
Other creditors
1,065
1,064
Accruals and deferred income
1,030
4,467
5,569
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
975
1,875
6
Related party transactions
All transactions that took place were on normal commercial terms and on an arms length basis and therefore no further disclosure is required by FRS102 Section 1A.