Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06937008 2023-03-01 2024-02-29 06937008 2022-03-01 2023-02-28 06937008 2024-02-29 06937008 2023-02-28 06937008 c:Director1 2023-03-01 2024-02-29 06937008 d:PlantMachinery 2023-03-01 2024-02-29 06937008 d:PlantMachinery 2024-02-29 06937008 d:PlantMachinery 2023-02-28 06937008 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 06937008 d:FurnitureFittings 2023-03-01 2024-02-29 06937008 d:FurnitureFittings 2024-02-29 06937008 d:FurnitureFittings 2023-02-28 06937008 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 06937008 d:OfficeEquipment 2023-03-01 2024-02-29 06937008 d:OfficeEquipment 2024-02-29 06937008 d:OfficeEquipment 2023-02-28 06937008 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 06937008 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 06937008 d:CurrentFinancialInstruments 2024-02-29 06937008 d:CurrentFinancialInstruments 2023-02-28 06937008 d:Non-currentFinancialInstruments 2024-02-29 06937008 d:Non-currentFinancialInstruments 2023-02-28 06937008 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 06937008 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 06937008 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 06937008 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 06937008 d:ShareCapital 2024-02-29 06937008 d:ShareCapital 2023-02-28 06937008 d:RetainedEarningsAccumulatedLosses 2024-02-29 06937008 d:RetainedEarningsAccumulatedLosses 2023-02-28 06937008 c:FRS102 2023-03-01 2024-02-29 06937008 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 06937008 c:FullAccounts 2023-03-01 2024-02-29 06937008 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 06937008 2 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure
Registered number: 06937008













M & D Patrick Motor Co. Limited

Financial statements
Information for filing with the registrar

29 February 2024




 
M & D Patrick Motor Co. Limited


Balance sheet
At 29 February 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
21,866
23,808

  
21,866
23,808

Current assets
  

Stocks
  
197,097
148,925

Debtors
 5 
3,054
4,999

Cash at bank and in hand
  
25,600
85,613

  
225,751
239,537

Creditors: amounts falling due within one year
 6 
(41,619)
(34,556)

Net current assets
  
 
 
184,132
 
 
204,981

Total assets less current liabilities
  
205,998
228,789

Creditors: amounts falling due after more than one year
 7 
(8,000)
(14,000)

  

Net assets
  
197,998
214,789


Capital and reserves
  

Called up share capital 
  
725,001
725,001

Profit and loss account
  
(527,003)
(510,212)

Shareholders' funds
  
197,998
214,789

1

 
M & D Patrick Motor Co. Limited

    
Balance sheet (continued)
At 29 February 2024

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 comprehensive income 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 on 5 November 2024.




R M Patrick
Director

Company registered number: 06937008
The notes on pages 3 to 6 form part of these financial statements. 
2

 
M & D Patrick Motor Co. Limited
 
 

Notes to the financial statements
Year ended 29 February 2024

1.


General information

The company is a private company limited by shares, registered in England and Wales.  The address of the registered office is Unit 20a, Second Avenue, Drum Industrial Estate, Chester le Street.  DH1 1AG

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

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.

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
3

 
M & D Patrick Motor Co. Limited
 

 
Notes to the financial statements
Year ended 29 February 2024

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as per below.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
straight line
Fixtures and fittings
-
10%
straight line
Office equipment
-
10%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

 
2.8

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 2 (2023 - 2).

4

 
M & D Patrick Motor Co. Limited
 
 

Notes to the financial statements
Year ended 29 February 2024

4.


Tangible fixed assets







Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost


At 1 March 2023
19,033
31,327
-
50,360


Additions
1,725
-
448
2,173



At 29 February 2024

20,758
31,327
448
52,533



Depreciation


At 1 March 2023
16,835
9,717
-
26,552


Charge for the year
880
3,213
22
4,115



At 29 February 2024

17,715
12,930
22
30,667



Net book value



At 29 February 2024
3,043
18,397
426
21,866



At 28 February 2023
2,198
21,610
-
23,808


5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
-
1,614

Prepayments and accrued income
3,054
3,385

3,054
4,999


5

 
M & D Patrick Motor Co. Limited
 
 

Notes to the financial statements
Year ended 29 February 2024

6.


Creditors: amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
6,000
6,000

Trade creditors
4,640
15,015

Other taxation and social security
3,461
6,337

Other creditors
20,000
-

Accruals and deferred income
7,518
7,204

41,619
34,556


Bank loans are secured by a floating charge over the assets of the company.


7.


Creditors: amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
8,000
14,000

8,000
14,000


Bank loans are secured by a floating charge over the assets of the company.

 
6