Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-30trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-07-01falseThe principal activity of the company during the year was that of installers of insulated panal systems.33falsefalse 08122128 2023-07-01 2024-06-30 08122128 2022-07-01 2023-06-30 08122128 2024-06-30 08122128 2023-06-30 08122128 c:Director1 2023-07-01 2024-06-30 08122128 c:Director2 2023-07-01 2024-06-30 08122128 c:RegisteredOffice 2023-07-01 2024-06-30 08122128 d:Buildings 2023-07-01 2024-06-30 08122128 d:PlantMachinery 2023-07-01 2024-06-30 08122128 d:MotorVehicles 2023-07-01 2024-06-30 08122128 d:OfficeEquipment 2023-07-01 2024-06-30 08122128 d:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 08122128 d:OtherPropertyPlantEquipment 2024-06-30 08122128 d:OtherPropertyPlantEquipment 2023-06-30 08122128 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 08122128 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 08122128 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 08122128 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 08122128 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 08122128 d:ShareCapital 2024-06-30 08122128 d:ShareCapital 2023-06-30 08122128 d:RetainedEarningsAccumulatedLosses 2024-06-30 08122128 d:RetainedEarningsAccumulatedLosses 2023-06-30 08122128 c:FRS102 2023-07-01 2024-06-30 08122128 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 08122128 c:AbridgedAccounts 2023-07-01 2024-06-30 08122128 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08122128 d:WithinOneYear 2024-06-30 08122128 d:WithinOneYear 2023-06-30 08122128 d:BetweenOneFiveYears 2024-06-30 08122128 d:BetweenOneFiveYears 2023-06-30 08122128 2 2023-07-01 2024-06-30 08122128 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 08122128









MCVEIGH PROJECTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
MCVEIGH PROJECTS LIMITED
 

CONTENTS



Page
Company Information
 
1
Statement of Financial Position
 
2 - 3
Notes to the Financial Statements
 
4 - 8


 
MCVEIGH PROJECTS LIMITED
 
 
COMPANY INFORMATION


Directors
M L McVeigh 
A S McVeigh 




Registered number
08122128



Registered office
Unit 7

Waterloo Court

Stalybridge

Cheshire

SK15 2AU




Page 1

 
MCVEIGH PROJECTS LIMITED
REGISTERED NUMBER: 08122128

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
28,094
19,047

  
28,094
19,047

Current assets
  

Debtors
  
254,003
590,711

Cash at bank and in hand
  
646,042
175,288

  
900,045
765,999

Creditors: amounts falling due within one year
  
(689,358)
(572,535)

Net current assets
  
 
 
210,687
 
 
193,464

Total assets less current liabilities
  
238,781
212,511

Creditors: amounts falling due after more than one year
  
(9,167)
(19,167)

Deferred tax
  
(6,787)
(5,298)

Net assets
  
222,827
188,046


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
222,727
187,946

  
222,827
188,046

Page 2

 
MCVEIGH PROJECTS LIMITED
REGISTERED NUMBER: 08122128
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M L McVeigh
Director

Date: 5 March 2025

The notes on pages 4 to 8 form part of these financial statements.
Page 3

 
MCVEIGH PROJECTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The company is a private company limited by shares registered in England and Wales (company registration number 08122128). The address of the registered office is Unit 7 Waterloo court, Stalybridge, Cheshire, SK15 2AU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

the turnover in the profit and loss account represents the invoice value of goods and services provided during the year, exclusive of Value Added Tax.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
MCVEIGH PROJECTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Employee benefits

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
MCVEIGH PROJECTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Property Improvements
-
Straight line over the lease term (6 years)
Plant and machinery
-
20%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Office equipment
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
MCVEIGH PROJECTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

  
2.14

Judgements and key sources of estimation uncertainty

The preparation of the financial statements required management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Significant judgements
Management do not feel that these are any judgements (apart from this involving estimations) that have been made in the process of applying the entity's accounting policies which have a significant effect on the amounts recognised in the financial statements.
Key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimated uncertainty that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
Estimated useful life and residual value of fixed assets
Depreciation of tangible fixed assets have been based on the estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives and residual values, as evidenced by disposals during the current and prior accounting periods.
Impairment of debtors
The company makes and estimate of the recoverable value of trade debtors. When assessing the impairment of trade debtors, management includes factores including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

  
2.16

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown as equity as a deduction, net of tax from the proceeds.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 7

 
MCVEIGH PROJECTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Fixed assets

£



Cost or valuation


At 1 July 2023
49,801


Additions
14,595



At 30 June 2024

64,396



Depreciation


At 1 July 2023
30,754


Charge for the year on owned assets
5,548



At 30 June 2024

36,302



Net book value



At 30 June 2024
28,094



At 30 June 2023
19,047


5.


Commitments under operating leases

At 30 June 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
22,255
30,996

Later than 1 year and not later than 5 years
11,613
33,868

33,868
64,864

 
Page 8