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REGISTERED NUMBER: 04239015 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 August 2024

for

DEREK MACHIN & SON LTD

DEREK MACHIN & SON LTD (REGISTERED NUMBER: 04239015)

Contents of the Financial Statements
for the Year Ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

DEREK MACHIN & SON LTD

Company Information
for the Year Ended 31 August 2024







DIRECTOR: S J Machin





SECRETARY: Mrs M L Machin





REGISTERED OFFICE: 45 Kiddemore Green Road
Brewood
Stafford
ST19 9BQ





REGISTERED NUMBER: 04239015 (England and Wales)





ACCOUNTANTS: CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW

DEREK MACHIN & SON LTD (REGISTERED NUMBER: 04239015)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,923 39,364

CURRENT ASSETS
Stocks 550 450
Debtors 5 2,937 1,776
Cash at bank 16,265 14,559
19,752 16,785
CREDITORS
Amounts falling due within one year 6 22,780 30,826
NET CURRENT LIABILITIES (3,028 ) (14,041 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,895

25,323

PROVISIONS FOR LIABILITIES 5,875 7,479
NET ASSETS 22,020 17,844

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 21,920 17,744
SHAREHOLDERS' FUNDS 22,020 17,844

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 November 2024 and were signed by:





S J Machin - Director


DEREK MACHIN & SON LTD (REGISTERED NUMBER: 04239015)

Notes to the Financial Statements
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

Derek Machin & Son Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

As a result of the COVID-19 pandemic and its impact on the global economy, the directors have reviewed the risks to the business, and have concluded that it should be treated as a going concern.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts reported for the assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year.

Stock Provision
The directors review stock held at the balance sheet date to ensure that only those goods deemed fit for future sales are included.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

DEREK MACHIN & SON LTD (REGISTERED NUMBER: 04239015)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 30,150 68,999 450 99,599
Additions 1,511 - - 1,511
Disposals (4,094 ) (24,000 ) - (28,094 )
At 31 August 2024 27,567 44,999 450 73,016
DEPRECIATION
At 1 September 2023 18,005 41,792 438 60,235
Charge for year 1,854 6,470 12 8,336
Eliminated on disposal (3,806 ) (22,672 ) - (26,478 )
At 31 August 2024 16,053 25,590 450 42,093
NET BOOK VALUE
At 31 August 2024 11,514 19,409 - 30,923
At 31 August 2023 12,145 27,207 12 39,364

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 1,161 -
Other debtors 1,776 1,776
2,937 1,776

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 2,027 3,091
Taxation and social security 15,069 7,750
Other creditors 5,684 19,985
22,780 30,826

7. ULTIMATE CONTROLLING PARTY

The Company is under the control of the directors who own 100% of the issued share capital.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Derek Machin & Son Ltd


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Derek Machin & Son Ltd for the year ended 31 August 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Derek Machin & Son Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Derek Machin & Son Ltd and state those matters that we have agreed to state to the director of Derek Machin & Son Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Derek Machin & Son Ltd and its director for our work or for this report.

It is your duty to ensure that Derek Machin & Son Ltd 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 Derek Machin & Son Ltd. You consider that Derek Machin & Son Ltd 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 Derek Machin & Son Ltd. 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.






CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW


26 November 2024