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McNabs Cash & Carry Limited
Registered Number:07145390
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2024
McNabs Cash & Carry Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
07145390
As at 31 March 2024
McNabs Cash & Carry Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
137,186
97,635
3
137,186
97,635
Current assets
Inventories
121,985
108,522
4
Trade and other receivables
19,947
21,248
5
9,531
Cash and cash equivalents
26,736
156,506
151,463
Trade and other payables: amounts falling due within one
year
(188,405)
(197,754)
6
(36,942)
(41,248)
Net current liabilities
Total assets less current liabilities
95,938
60,693
Trade and other payables: amounts falling due after more
than one year
(18,636)
(13,636)
7
8,333
7,471
Provisions for liabilities
90,635
Net assets
49,528
Capital and reserves
Called up share capital
100
100
Retained earnings
90,535
49,428
90,635
49,528
Shareholders' funds
For the year ended 31 March 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 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 proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
07145390
For the year ended 31 March 2024
McNabs Cash & Carry Limited
Statement of Financial Position Continued
Mr Louis James Bird Director
Mr Ashley David Kavanagh Director
These financial statements were approved and authorised for issue by the Board on 18 November 2024 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 March 2024
McNabs Cash & Carry Limited
Notes to the Financial Statements
Statutory Information
McNabs Cash & Carry Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 07145390.
Registered address:
McNabs Buildings
Bannerly Road
Garrets Green
Birmingham
B33 0SL
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 10 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
25% Reducing balance
50% Reducing balance
Computer equipment
25% Reducing balance
Motor vehicles
25% Reducing balance
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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6
For the year ended 31 March 2024
McNabs Cash & Carry Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 April 2023
19,000
At 31 March 2024
19,000
Amortisation
At 01 April 2023
19,000
At 31 March 2024
19,000
Net book value
At 31 March 2024
-
At 31 March 2023
-
3. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Motor vehicles
Plant and
machinery
£
£
£
£
£
Cost or
valuation
At 01 April 2023
229,583
965
300
62,404
165,914
85,314
-
-
26,854
58,460
Additions
At 31 March 2024
89,258
300
965
314,897
224,374
Provision for depreciation and impairment
At 01 April 2023
131,948
965
300
41,677
89,006
Charge for year
45,763
-
-
11,895
33,868
At 31 March 2024
177,711
965
300
53,572
122,874
At 31 March 2024
Net book value
101,500
35,686
-
-
137,186
At 31 March 2023
76,908
20,727
-
-
97,635
Freehold property is shown at cost as the company has not yet started trading.
4. Inventories
2023
2024
£
£
Stocks
108,522
121,985
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7
For the year ended 31 March 2024
McNabs Cash & Carry Limited
Notes to the Financial Statements Continued
5. Trade and other receivables
2023
2024
£
£
Trade debtors
21,248
19,947
6. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Trade creditors
171,641
160,127
Taxation and social security
21,803
19,106
Other creditors
4,310
9,172
197,754
188,405
7. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft (secured)
13,636
18,636
8. Average number of persons employed
During the year the average number of employees was 0 (2023 : 8)
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