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REGISTERED NUMBER: 06580766 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

P G MAC LIMITED

P G MAC LIMITED (REGISTERED NUMBER: 06580766)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P G MAC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: P M Procter
Miss E L Gosling



REGISTERED OFFICE: 19 Linton Close
Bawtry
Doncaster
DN10 6XD



REGISTERED NUMBER: 06580766 (England and Wales)



ACCOUNTANTS: Waite & Hartley
66 North Street
Wetherby
LS22 6NR



BANKERS: National Westminster Bank plc
Market Place
Bawtry
Doncaster
DN10 6JL

P G MAC LIMITED (REGISTERED NUMBER: 06580766)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 91,798 100,231
91,798 100,231

CURRENT ASSETS
Stocks 6 170,450 186,044
Debtors 7 159,995 98,264
Cash at bank 16,918 7
347,363 284,315
CREDITORS
Amounts falling due within one year 8 334,829 270,447
NET CURRENT ASSETS 12,534 13,868
TOTAL ASSETS LESS CURRENT
LIABILITIES

104,332

114,099

CREDITORS
Amounts falling due after more than one
year

9

(14,677

)

(31,020

)

PROVISIONS FOR LIABILITIES (22,949 ) (19,002 )
NET ASSETS 66,706 64,077

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 66,606 63,977
SHAREHOLDERS' FUNDS 66,706 64,077

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

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

The directors acknowledge their 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.

P G MAC LIMITED (REGISTERED NUMBER: 06580766)

BALANCE SHEET - continued
31ST MARCH 2024


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 Board of Directors and authorised for issue on 22nd November 2024 and were signed on its behalf by:




P M Procter - Director



Miss E L Gosling - Director


P G MAC LIMITED (REGISTERED NUMBER: 06580766)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

P G Mac Limited 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


P G MAC LIMITED (REGISTERED NUMBER: 06580766)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 80,532
AMORTISATION
At 1st April 2023
and 31st March 2024 80,532
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

P G MAC LIMITED (REGISTERED NUMBER: 06580766)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st April 2023 9,266 197,346 26,935 44,787 278,334
Additions - 7,299 3,670 - 10,969
At 31st March 2024 9,266 204,645 30,605 44,787 289,303
DEPRECIATION
At 1st April 2023 9,266 131,334 20,256 17,247 178,103
Charge for year - 10,964 1,553 6,885 19,402
At 31st March 2024 9,266 142,298 21,809 24,132 197,505
NET BOOK VALUE
At 31st March 2024 - 62,347 8,796 20,655 91,798
At 31st March 2023 - 66,012 6,679 27,540 100,231

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st April 2023
and 31st March 2024 44,787
DEPRECIATION
At 1st April 2023 17,247
Charge for year 6,885
At 31st March 2024 24,132
NET BOOK VALUE
At 31st March 2024 20,655
At 31st March 2023 27,540

6. STOCKS
2024 2023
£    £   
Stocks 127,157 119,234
Work-in-progress 43,293 66,810
170,450 186,044

P G MAC LIMITED (REGISTERED NUMBER: 06580766)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 159,395 65,807
VAT - 25,046
Prepayments 600 7,411
159,995 98,264

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 33,176 41,124
Hire purchase contracts 6,343 7,010
Trade creditors 218,447 154,954
Tax 14,309 9,862
Social security and other taxes 2,542 3,020
VAT 11,847 -
Directors' current accounts 45,457 51,457
Accrued expenses 2,708 3,020
334,829 270,447

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 11,667 21,667
Hire purchase contracts 3,010 9,353
14,677 31,020

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the Directors had made loans to the Company of £45,457 (2023 - £51,457).

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P M Procter and Miss E L Gosling.