M J Egan Contractors Ltd 06827472 false 2023-04-06 2024-04-05 2024-04-05 The principal activity of the company is ground work for land and building development. Digita Accounts Production Advanced 6.30.9574.0 true true 06827472 2023-04-06 2024-04-05 06827472 2024-04-05 06827472 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-04-05 06827472 core:CurrentFinancialInstruments 2024-04-05 06827472 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-05 06827472 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-05 06827472 bus:SmallEntities 2023-04-06 2024-04-05 06827472 bus:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 06827472 bus:FilletedAccounts 2023-04-06 2024-04-05 06827472 bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 06827472 bus:RegisteredOffice 2023-04-06 2024-04-05 06827472 bus:Director2 2023-04-06 2024-04-05 06827472 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-04-06 2024-04-05 06827472 bus:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 06827472 core:Buildings 2023-04-06 2024-04-05 06827472 core:MotorVehicles 2023-04-06 2024-04-05 06827472 core:PlantMachinery 2023-04-06 2024-04-05 06827472 countries:England 2023-04-06 2024-04-05 06827472 2023-04-05 06827472 2022-04-06 2023-04-05 06827472 2023-04-05 06827472 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-04-05 06827472 core:CurrentFinancialInstruments 2023-04-05 06827472 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-05 06827472 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-05 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06827472

M J Egan Contractors Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 5 April 2024

 

M J Egan Contractors Ltd

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 6

 

M J Egan Contractors Ltd

(Registration number: 06827472)
Abridged Balance Sheet as at 5 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

96,672

117,922

Current assets

 

Debtors

379,343

332,462

Cash at bank and in hand

 

470,104

444,463

 

849,447

776,925

Prepayments and accrued income

 

400

400

Creditors: Amounts falling due within one year

5.1

(118,904)

(116,336)

Net current assets

 

730,943

660,989

Total assets less current liabilities

 

827,615

778,911

Creditors: Amounts falling due after more than one year

5.2

(15,000)

(27,382)

Provisions for liabilities

(21,091)

(20,098)

Accruals and deferred income

 

(1,555)

(1,485)

Net assets

 

789,969

729,946

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

789,869

729,846

Shareholders' funds

 

789,969

729,946

 

M J Egan Contractors Ltd

(Registration number: 06827472)
Abridged Balance Sheet as at 5 April 2024

For the financial year ending 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 27 November 2024 and signed on its behalf by:
 

.........................................
C Schofield
Director

 

M J Egan Contractors Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 5 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Height End Cottage
Harrow Stiles Lane
Bacup
Lancashire
OL13 8RF

These financial statements were authorised for issue by the Board on 27 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

M J Egan Contractors Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 5 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

30% per annum reducing balance basis

Motor vehicles

25% per annum reducing balance basis

Buildings

2% depreciation on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

M J Egan Contractors Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 5 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

M J Egan Contractors Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 5 April 2024

4

Tangible assets

Total
£

Cost

At 6 April 2023

205,785

Additions

20,000

Disposals

(22,350)

At 5 April 2024

203,435

Depreciation

At 6 April 2023

87,863

Charge for the year

33,412

Eliminated on disposal

(14,512)

At 5 April 2024

106,763

Net book value

At 5 April 2024

96,672

At 5 April 2023

117,922

5

Creditors

Creditors: amounts falling due within one year

Creditors include net obligations under hire purchase contracts which are secured of £2,382 (2023 - £9,157).

Creditors: amounts falling due after more than one year

Creditors include net obligations under hire purchase contracts which are secured of £nil (2023 - £2,382).

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100