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REGISTERED NUMBER: 01816503 (England and Wales)















P. MCCANN LIMITED

Unaudited Financial Statements for the Year Ended 30 September 2024






P. MCCANN LIMITED (REGISTERED NUMBER: 01816503)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P. MCCANN LIMITED

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mrs K M McCann
S D McCann
M J McCann





SECRETARY: Mrs K M McCann





REGISTERED OFFICE: 5 Griffin Industrial Estate
Penncricket Lane
Rowley Regis
Warley
West Midlands
B65 0SN





REGISTERED NUMBER: 01816503 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

P. MCCANN LIMITED (REGISTERED NUMBER: 01816503)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 254,157 267,148

CURRENT ASSETS
Stocks 891,490 893,797
Debtors 5 1,729,994 1,995,265
Cash at bank and in hand 735,812 594,798
3,357,296 3,483,860
CREDITORS
Amounts falling due within one year 6 2,408,831 2,021,176
NET CURRENT ASSETS 948,465 1,462,684
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,202,622

1,729,832

PROVISIONS FOR LIABILITIES 41,427 43,186
NET ASSETS 1,161,195 1,686,646

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,161,095 1,686,546
SHAREHOLDERS' FUNDS 1,161,195 1,686,646

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

P. MCCANN LIMITED (REGISTERED NUMBER: 01816503)

Balance Sheet - continued
30 September 2024


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 Board of Directors and authorised for issue on 1 April 2025 and were signed on its behalf by:




M J McCann - Director



S D McCann - Director


P. MCCANN LIMITED (REGISTERED NUMBER: 01816503)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

P. McCann Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

P. MCCANN LIMITED (REGISTERED NUMBER: 01816503)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 23 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2023 412,941 149,222 275,892 838,055
Additions 7,919 6,674 - 14,593
Disposals (19,324 ) - - (19,324 )
At 30 September 2024 401,536 155,896 275,892 833,324
DEPRECIATION
At 1 October 2023 284,455 104,097 182,355 570,907
Charge for year 19,600 4,513 1,559 25,672
Eliminated on disposal (17,412 ) - - (17,412 )
At 30 September 2024 286,643 108,610 183,914 579,167
NET BOOK VALUE
At 30 September 2024 114,893 47,286 91,978 254,157
At 30 September 2023 128,486 45,125 93,537 267,148

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,686,314 1,959,610
Prepayments 43,680 35,655
1,729,994 1,995,265

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 378,510 333,129
Social security and other taxes 601,838 770,413
Other creditors 2,903 3,843
Directors' current accounts 1,380,957 866,303
Accrued expenses 44,623 47,488
2,408,831 2,021,176

P. MCCANN LIMITED (REGISTERED NUMBER: 01816503)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 42,913 51,538
Between one and five years 16,875 59,789
59,788 111,327

8. TRANSACTIONS WITH DIRECTORS

P McCann (Holdings) Limited (Parent Company)

The company occupies premises owned by P McCann (Holdings) Limited rent free.

9. ULTIMATE CONTROLLING PARTY

The company was controlled throughout the current and previous period by the estate of P McCann, by virtue of it holding a majority of the issued ordinary share capital of P McCann (Holdings) Limited, the company's ultimate parent undertaking.