Registered number
NI612565
Mockford Milk Distribution Ltd
Filleted Accounts
30 June 2024
Mockford Milk Distribution Ltd
Registered number: NI612565
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 171,122 114,283
Current assets
Stocks 10,850 7,883
Debtors 5 156,260 127,760
Cash at bank and in hand 22,907 9,549
190,017 145,192
Creditors: amounts falling due within one year 6 (234,411) (194,671)
Net current liabilities (44,394) (49,479)
Total assets less current liabilities 126,728 64,804
Creditors: amounts falling due after more than one year 7 (75,896) (57,448)
Net assets 50,832 7,356
Capital and reserves
Called up share capital 2 2
Profit and loss account 50,830 7,354
Shareholder's funds 50,832 7,356
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Colin Mockford
Director
Approved by the board on 8 January 2025
Mockford Milk Distribution Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and equipment 20% reducing balance
Motor vehicles 18% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 20,000
At 30 June 2024 20,000
Amortisation
At 1 July 2023 20,000
At 30 June 2024 20,000
Net book value
At 30 June 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 1,790 204,027 205,817
Additions - 102,200 102,200
Disposals - (67,734) (67,734)
At 30 June 2024 1,790 238,493 240,283
Depreciation
At 1 July 2023 644 90,890 91,534
Charge for the year 230 25,519 25,749
On disposals - (48,122) (48,122)
At 30 June 2024 874 68,287 69,161
Net book value
At 30 June 2024 916 170,206 171,122
At 30 June 2023 1,146 113,137 114,283
5 Debtors 2024 2023
£ £
Trade debtors 148,815 118,620
Other debtors 7,445 9,140
156,260 127,760
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 13,011 21,237
Obligations under finance lease and hire purchase contracts 46,927 32,224
Trade creditors 161,610 138,090
Taxation and social security costs 11,465 1,973
Other creditors 1,398 1,147
234,411 194,671
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,936 20,891
Obligations under finance lease and hire purchase contracts 64,960 36,557
75,896 57,448
8 Other information
Mockford Milk Distribution Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
64 Kilcarn Road
Killinchy
BT23 6SE
Mockford Milk Distribution Ltd NI612565 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts July 2024 Colin Mockford No description of principal activity NI612565 2022-07-01 2023-06-30 NI612565 core:WithinOneYear 2023-06-30 NI612565 core:AfterOneYear 2023-06-30 NI612565 core:ShareCapital 2023-06-30 NI612565 core:RetainedEarningsAccumulatedLosses 2023-06-30 NI612565 2023-07-01 2024-06-30 NI612565 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI612565 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 NI612565 bus:Director40 2023-07-01 2024-06-30 NI612565 1 2023-07-01 2024-06-30 NI612565 2 2023-07-01 2024-06-30 NI612565 core:PlantMachinery 2023-07-01 2024-06-30 NI612565 core:Vehicles 2023-07-01 2024-06-30 NI612565 countries:England 2023-07-01 2024-06-30 NI612565 bus:FRS102 2023-07-01 2024-06-30 NI612565 bus:FilletedAccounts 2023-07-01 2024-06-30 NI612565 2024-06-30 NI612565 core:WithinOneYear 2024-06-30 NI612565 core:AfterOneYear 2024-06-30 NI612565 core:ShareCapital 2024-06-30 NI612565 core:RetainedEarningsAccumulatedLosses 2024-06-30 NI612565 core:Goodwill 2024-06-30 NI612565 core:PlantMachinery 2024-06-30 NI612565 core:Vehicles 2024-06-30 NI612565 2023-06-30 NI612565 core:Goodwill 2023-06-30 NI612565 core:PlantMachinery 2023-06-30 NI612565 core:Vehicles 2023-06-30 iso4217:GBP xbrli:pure