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Registration number: 08484390

MCR Finest Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

MCR Finest Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

MCR Finest Ltd

Company Information

Directors

James Alfred Barker

Steven Pankhurst

Matthew John Tyas

L A Isherwood

Registered office

Manchester's Finest Group
63 Newton Street
Manchester
M1 1ET

Accountants

Nolan James Ltd
Chartered Accountants
Suite 1 Armcon Business Park
London Road South Poynton
Stockport
Cheshire
SK12 1LQ

 

MCR Finest Ltd

(Registration number: 08484390)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

3,600

11,200

Tangible assets

5

55,078

43,311

 

58,678

54,511

Current assets

 

Debtors

6

98,069

66,078

Cash at bank and in hand

 

97,932

20,408

 

196,001

86,486

Creditors: Amounts falling due within one year

7

(137,318)

(104,665)

Net current assets/(liabilities)

 

58,683

(18,179)

Total assets less current liabilities

 

117,361

36,332

Creditors: Amounts falling due after more than one year

7

(10,083)

(26,417)

Provisions for liabilities

(10,455)

(1,964)

Net assets

 

96,823

7,951

Capital and reserves

 

Called up share capital

100

100

Retained earnings

96,723

7,851

Shareholders' funds

 

96,823

7,951

For the financial 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.

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 director acknowledges 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.

Approved and authorised by the Board on 29 January 2025 and signed on its behalf by:
 

.........................................
James Alfred Barker
Director

 

MCR Finest Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

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

The address of its registered office is:
Manchester's Finest Group
63 Newton Street
Manchester
M1 1ET

These financial statements were authorised for issue by the Board on 29 January 2025.

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 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 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.

These financial statements are presented in sterling, which is the functional currency of the entity.

Turnover

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

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 income 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.

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.

 

MCR Finest Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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 Machinery

25% RBM

Fixtures and fittings

25% RBM

Office Equipment

33% SLM

Intangible assets

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

The amortisation polity used is that of 20% straight line

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

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 14).

 

MCR Finest Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 June 2023

38,000

38,000

At 31 May 2024

38,000

38,000

Amortisation

At 1 June 2023

26,800

26,800

Amortisation charge

7,600

7,600

At 31 May 2024

34,400

34,400

Carrying amount

At 31 May 2024

3,600

3,600

At 31 May 2023

11,200

11,200

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 June 2023

52,459

4,226

24,904

81,589

Additions

334

-

30,072

30,406

At 31 May 2024

52,793

4,226

54,976

111,995

Depreciation

At 1 June 2023

16,980

2,889

18,409

38,278

Charge for the year

8,922

334

9,383

18,639

At 31 May 2024

25,902

3,223

27,792

56,917

Carrying amount

At 31 May 2024

26,891

1,003

27,184

55,078

At 31 May 2023

35,479

1,337

6,495

43,311

6

Debtors

 

MCR Finest Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Current

2024
£

2023
£

Trade debtors

97,713

65,702

Prepayments

139

158

Other debtors

217

218

 

98,069

66,078

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

16,333

16,333

Trade creditors

 

29,050

28,271

Taxation and social security

 

78,827

47,188

Accruals and deferred income

 

4,980

2,646

Other creditors

 

8,128

10,227

 

137,318

104,665

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10,083

26,417