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Company registration number: 06679217
MCPACK LIMITED
UNAUDITED FILLETED FINANCIAL STATEMENTS
31 August 2024
MCPACK LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
MCPACK LIMITED
DIRECTORS AND OTHER INFORMATION
Director Mr M J McLaughlin
Secretary Mrs S A McLaughlin
Company number 06679217
Registered office The Hazles
Hazles Road
Shawbury
Shropshire
SY4 4HE
Business address The Hazles
Hazles Road
Shawbury
Shropshire
SY4 4HE
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
MCPACK LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MCPACK LIMITED
YEAR ENDED 31ST AUGUST 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MCPack Limited for the year ended 31 August 2024 as set out on pages 5 to 11 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of MCPack Limited, as a body, in accordance with the terms of our engagement letter dated 21 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of MCPack Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MCPack Limited and its director as a body for our work or for this report.
It is your duty to ensure that MCPack Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MCPack Limited. You consider that MCPack Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of MCPack Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
6 November 2024
MCPACK LIMITED
STATEMENT OF FINANCIAL POSITION
31ST AUGUST 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 34,531 36,409
_______ _______
34,531 36,409
Current assets
Debtors 6 34,701 60,381
Cash at bank and in hand 6,317 26,684
_______ _______
41,018 87,065
Creditors: amounts falling due
within one year 7 ( 19,834) ( 67,678)
_______ _______
Net current assets 21,184 19,387
_______ _______
Total assets less current liabilities 55,715 55,796
Creditors: amounts falling due
after more than one year 8 ( 6,002) ( 13,958)
Provisions for liabilities ( 1,352) ( 1,667)
_______ _______
Net assets 48,361 40,171
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 48,360 40,170
_______ _______
Shareholder funds 48,361 40,171
_______ _______
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has 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 their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 31 October 2024 , and are signed on behalf of the board by:
Mr M J McLaughlin
Director
Company registration number: 06679217
MCPACK LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31ST AUGUST 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 September 2022 1 18,843 18,844
Profit for the year 22,327 22,327
_______ _______ _______
Total comprehensive income for the year - 22,327 22,327
Dividends paid and payable ( 1,000) ( 1,000)
_______ _______ _______
Total investments by and distributions to owners - ( 1,000) ( 1,000)
_______ _______ _______
At 31 August 2023 and 1 September 2023 1 40,170 40,171
Profit for the year 8,690 8,690
_______ _______ _______
Total comprehensive income for the year - 8,690 8,690
Dividends paid and payable ( 500) ( 500)
_______ _______ _______
Total investments by and distributions to owners - ( 500) ( 500)
_______ _______ _______
At 31 August 2024 1 48,360 48,361
_______ _______ _______
MCPACK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST AUGUST 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 The Hazles, Hazles Road, Shawbury, Shropshire, SY4 4HE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the value of the consideration received or receivable for services supplied, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 September 2023 26,424 4,171 6,534 15,250 52,379
Additions - - 900 - 900
Disposals - - ( 1,765) - ( 1,765)
_______ _______ _______ _______ _______
At 31 August 2024 26,424 4,171 5,669 15,250 51,514
_______ _______ _______ _______ _______
Depreciation
At 1 September 2023 - 2,118 5,669 8,184 15,971
Charge for the year - 513 197 1,767 2,477
Disposals - - ( 1,465) - ( 1,465)
_______ _______ _______ _______ _______
At 31 August 2024 - 2,631 4,401 9,951 16,983
_______ _______ _______ _______ _______
Carrying amount
At 31 August 2024 26,424 1,540 1,268 5,299 34,531
_______ _______ _______ _______ _______
At 31 August 2023 26,424 2,053 865 7,066 36,408
_______ _______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 2,396 39,131
Other debtors 32,305 21,250
_______ _______
34,701 60,381
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 9,769 8,691
Trade creditors 1,988 36,182
Corporation tax 2,354 5,750
Social security and other taxes 1,733 3,549
Other creditors 3,990 13,506
_______ _______
19,834 67,678
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 6,002 13,958
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr M J McLaughlin ( 10,906) 9,151 - ( 1,755)
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr M J McLaughlin ( 23,836) - 12,930 ( 10,906)
_______ _______ _______ _______