Acorah Software Products - Accounts Production 16.1.200 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 NI629764 Mr Michael McGurk Mr Noel McGurk iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI629764 2023-05-31 NI629764 2024-05-31 NI629764 2023-06-01 2024-05-31 NI629764 frs-core:CurrentFinancialInstruments 2024-05-31 NI629764 frs-core:MotorVehicles 2024-05-31 NI629764 frs-core:MotorVehicles 2023-06-01 2024-05-31 NI629764 frs-core:MotorVehicles 2023-05-31 NI629764 frs-core:ShareCapital 2024-05-31 NI629764 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 NI629764 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI629764 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 NI629764 frs-bus:SmallEntities 2023-06-01 2024-05-31 NI629764 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 NI629764 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 NI629764 frs-bus:Director1 2023-06-01 2024-05-31 NI629764 frs-bus:Director1 2023-05-31 NI629764 frs-bus:Director1 2024-05-31 NI629764 frs-bus:Director2 2023-06-01 2024-05-31 NI629764 frs-bus:Director2 2023-05-31 NI629764 frs-bus:Director2 2024-05-31 NI629764 frs-countries:NorthernIreland 2023-06-01 2024-05-31 NI629764 2022-05-31 NI629764 2023-05-31 NI629764 2022-06-01 2023-05-31 NI629764 frs-core:CurrentFinancialInstruments 2023-05-31 NI629764 frs-core:ShareCapital 2023-05-31 NI629764 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: NI629764
McGurk Electrics Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
MMC Accountancy Services
ICAEW
6 Linenhall Street
Limavady
BT49 0HQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: NI629764
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 14,711 -
14,711 -
CURRENT ASSETS
Debtors 5 74,121 3,480
Cash at bank and in hand 16,937 27,177
91,058 30,657
Creditors: Amounts Falling Due Within One Year 6 (71,371 ) (13,377 )
NET CURRENT ASSETS (LIABILITIES) 19,687 17,280
TOTAL ASSETS LESS CURRENT LIABILITIES 34,398 17,280
NET ASSETS 34,398 17,280
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 34,396 17,278
SHAREHOLDERS' FUNDS 34,398 17,280
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Noel McGurk
Director
20/12/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
McGurk Electrics Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI629764 . The registered office is 37 Temain Road, Limavady, BT49 0QA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Motor Vehicles
£
Cost
As at 1 June 2023 -
Additions 17,653
As at 31 May 2024 17,653
Depreciation
As at 1 June 2023 -
Provided during the period 2,942
As at 31 May 2024 2,942
Net Book Value
As at 31 May 2024 14,711
As at 1 June 2023 -
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Page 4
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 74,121 2,944
Prepayments and accrued income - 500
Directors' loan accounts - 36
74,121 3,480
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 396 73
Corporation tax 22,662 11,428
Other taxes and social security 1,020 131
VAT 14,994 1,220
Other creditors - 525
Directors' loan accounts 32,299 -
71,371 13,377
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Michael McGurk 18 - 18 - -
Mr Noel McGurk 18 - 18 - -
The above loan is unsecured, interest free and repayable on demand.
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