IRIS Accounts Production v24.3.0.553 12597490 director 1.6.23 31.5.24 31.5.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh125974902023-05-31125974902024-05-31125974902023-06-012024-05-31125974902022-05-31125974902022-06-012023-05-31125974902023-05-3112597490ns15:EnglandWales2023-06-012024-05-3112597490ns14:PoundSterling2023-06-012024-05-3112597490ns10:Director12023-06-012024-05-3112597490ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3112597490ns10:SmallEntities2023-06-012024-05-3112597490ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3112597490ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3112597490ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3112597490ns10:FullAccounts2023-06-012024-05-3112597490ns5:CurrentFinancialInstruments2024-05-3112597490ns5:CurrentFinancialInstruments2023-05-3112597490ns5:ShareCapital2024-05-3112597490ns5:ShareCapital2023-05-3112597490ns5:RetainedEarningsAccumulatedLosses2024-05-3112597490ns5:RetainedEarningsAccumulatedLosses2023-05-3112597490ns5:FurnitureFittings2023-05-3112597490ns5:FurnitureFittings2023-06-012024-05-3112597490ns5:FurnitureFittings2024-05-3112597490ns5:FurnitureFittings2023-05-3112597490ns5:WithinOneYear2024-05-3112597490ns5:WithinOneYear2023-05-3112597490ns5:BetweenOneFiveYears2024-05-3112597490ns5:BetweenOneFiveYears2023-05-3112597490ns5:MoreThanFiveYears2024-05-3112597490ns5:MoreThanFiveYears2023-05-3112597490ns5:AllPeriods2024-05-3112597490ns5:AllPeriods2023-05-31
REGISTERED NUMBER: 12597490 (England and Wales)










MCNAB INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024






MCNAB INVESTMENTS LIMITED (REGISTERED NUMBER: 12597490)

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










Page

Balance Sheet 1

Notes to the Financial Statements 2 to 3


MCNAB INVESTMENTS LIMITED (REGISTERED NUMBER: 12597490)

BALANCE SHEET
31ST MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 11,730 7,115

CURRENT ASSETS
Cash at bank 1,279 862

CREDITORS
Amounts falling due within one year 4 19,978 4,465
NET CURRENT LIABILITIES (18,699 ) (3,603 )
TOTAL ASSETS LESS CURRENT LIABILITIES (6,969 ) 3,512

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (6,979 ) 3,502
(6,969 ) 3,512

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

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

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 director and authorised for issue on 26th February 2025 and were signed by:





Mr A McNab - Director


MCNAB INVESTMENTS LIMITED (REGISTERED NUMBER: 12597490)

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


1. 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures and Fittings 15% Reducing Balance

Financial instruments
The company only enters into transactions in ‘basic’ financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties. These are recognised in the company’s balance sheet when it becomes party to the contractual provisions of the instrument.
Basic financial assets (other than those classified as payable within one year) are initially measured at cost and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses.
Basic financial assets classed as receivable within one year are not amortised.
Basic financial liabilities (other than those classified as payable within one year) are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Basic financial liabilities classed as payable within one year are not amortised.
Financial assets and liabilities are offset, with the net amount reported in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

MCNAB INVESTMENTS LIMITED (REGISTERED NUMBER: 12597490)

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


3. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st June 2023 9,847
Additions 6,193
At 31st May 2024 16,040
DEPRECIATION
At 1st June 2023 2,732
Charge for year 1,578
At 31st May 2024 4,310
NET BOOK VALUE
At 31st May 2024 11,730
At 31st May 2023 7,115

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 16,000 2,000
Other creditors 3,978 2,465
19,978 4,465

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 15,000 15,000
Between one and five years 15,000 15,000
In more than five years 180,000 195,000
210,000 225,000