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REGISTERED NUMBER: 12742598 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Macgill UK Limited

Macgill UK Limited (Registered number: 12742598)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Macgill UK Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: C Kurti





REGISTERED OFFICE: Preston House
1 Carlton Parade
Preston Road
Wembley
Middlesex
HA9 8NE





REGISTERED NUMBER: 12742598 (England and Wales)





ACCOUNTANTS: Preston Accountants Limited.
Chartered Certified Accountants
1 Carlton Parade
Preston Road
Wembley
Middlesex
HA9 8NE

Macgill UK Limited (Registered number: 12742598)

Statement of Financial Position
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 227,550 228,460

CURRENT ASSETS
Stocks 134,821 -
Debtors 5 665,562 576,062
Cash at bank and in hand 211,313 284,010
1,011,696 860,072
CREDITORS
Amounts falling due within one year 6 248,259 263,906
NET CURRENT ASSETS 763,437 596,166
TOTAL ASSETS LESS CURRENT
LIABILITIES

990,987

824,626

CREDITORS
Amounts falling due after more than one year 7 139,122 2,409
NET ASSETS 851,865 822,217

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 851,765 822,117
SHAREHOLDERS' FUNDS 851,865 822,217

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Macgill UK Limited (Registered number: 12742598)

Statement of Financial Position - continued
31 July 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 December 2024 and were signed by:





C Kurti - Director


Macgill UK Limited (Registered number: 12742598)

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

1. STATUTORY INFORMATION

Macgill UK 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.

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 - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

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 Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Macgill UK Limited (Registered number: 12742598)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 101 (2023 - 98 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2023 229,182 135,964 - 365,146
Additions 36,259 19,493 227 55,979
At 31 July 2024 265,441 155,457 227 421,125
DEPRECIATION
At 1 August 2023 97,107 39,579 - 136,686
Charge for year 33,667 23,176 46 56,889
At 31 July 2024 130,774 62,755 46 193,575
NET BOOK VALUE
At 31 July 2024 134,667 92,702 181 227,550
At 31 July 2023 132,075 96,385 - 228,460

Included within the category of Motor Vehicles is an amount of £58,667 as at 31 July 2024. This amount represents assets acquired under hire purchase agreements. The corresponding liabilities are disclosed under creditors. The assets are depreciated on 20% reducing balance and the related finance charges are allocated to the profit and loss account over the term of the agreements using the effective interest method.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 526,902 563,562
Other debtors 126,160 -
Prepayments 12,500 12,500
665,562 576,062

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other loans 19,765 -
Hire purchase contracts 12,204 61,330
Trade creditors 82,033 -
Tax 7,342 91,221
VAT 75,253 57,888
Other creditors 45,162 47,197
Accrued expenses 6,500 6,270
248,259 263,906

Macgill UK Limited (Registered number: 12742598)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Other loans - 2-5 years 90,250 -
Hire purchase contracts 46,463 -
Directors' loan accounts 2,409 2,409
139,122 2,409

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 Ordinary Shares 1 100 100