Company Registration No. 13171183 (England and Wales)
Mac Heating Ltd
Unaudited accounts
for the year ended 29 February 2024
Mac Heating Ltd
Unaudited accounts
Contents
Mac Heating Ltd
Company Information
for the year ended 29 February 2024
Company Number
13171183 (England and Wales)
Registered Office
4 Coalpit Hill
Talke
Stoke on Trent
Staffordshire
ST7 1PN
UK
Accountants
James Accountancy Services Ltd
3 Waterloo Grove
Kidsgrove
Stoke-on-Trent
Staffordshire
ST7 4SY
Mac Heating Ltd
Statement of financial position
as at 29 February 2024
Tangible assets
2,700
10,890
Cash at bank and in hand
-
22,602
Creditors: amounts falling due within one year
(5,757)
(29,072)
Net current liabilities
(5,126)
(2,437)
Total assets less current liabilities
(2,426)
8,453
Provisions for liabilities
Net (liabilities)/assets
(2,969)
6,897
Called up share capital
100
100
Profit and loss account
(3,069)
6,797
Shareholders' funds
(2,969)
6,897
For the year ending 29 February 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 November 2024 and were signed on its behalf by
Jack McIntyre
Director
Company Registration No. 13171183
Mac Heating Ltd
Notes to the Accounts
for the year ended 29 February 2024
Mac Heating Ltd is a private company, limited by shares, registered in England and Wales, registration number 13171183. The registered office is 4 Coalpit Hill, Talke, Stoke on Trent, Staffordshire, ST7 1PN, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in ã sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance method
Motor vehicles
20% reducing balance method
Computer equipment
20% reducing balance method
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Mac Heating Ltd
Notes to the Accounts
for the year ended 29 February 2024
Accounts prepared on 'break-up' basis
The company ceased to trade during the year to 29 February 2024 and is unlikely to trade in the future as the director is now permanently employed elsewhere and has expressed a desire to liquidate the company and apply for 'strike-off' from Companies House.
The company has no outstanding liabilities (other than to the director and to the accountant for the preparation of these accounts). The only remaining assets of the company have been adjusted to show the realisable values of the assets on the balance sheet. The total value of these assets are less than ã3000 and less than the amount owed to the director, and therefore the director plans to take ownership of these assets in lieu of the outstanding amounts owed to him.
All obligations to HMRC have been met, there will be no further liabilities owed to HMRC, or to any other supplier or government body (although there will be a small repayment of corporation tax owed to the company following a loss carry back claim of the final period's loss).
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Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2023
5,873
9,600
500
15,973
Disposals
-
(9,600)
-
(9,600)
At 29 February 2024
5,873
-
500
6,373
At 1 March 2023
2,303
2,600
180
5,083
Charge for the year
1,070
-
120
1,190
On disposals
-
(2,600)
-
(2,600)
At 29 February 2024
3,373
-
300
3,673
At 29 February 2024
2,500
-
200
2,700
At 28 February 2023
3,570
7,000
320
10,890
Amounts falling due within one year
Accrued income and prepayments
-
289
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
-
1,538
Loans from directors
5,507
27,234
Mac Heating Ltd
Notes to the Accounts
for the year ended 29 February 2024
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Post balance sheet events
The company ceased to trade during the year to 29/2/2024. The director will apply to Companies House to strike off the company once the final accounts have been filed and all financial obligations have been settled.
The 'break up' basis has been applied in preparing these accounts and all assets and liabilities are stated at realisable value in the Balance Sheet.
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Average number of employees
During the year the average number of employees was 1 (2023: 1).