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COMPANY REGISTRATION NUMBER: 01828678
McDOUGALLS MAINTENANCE LTD (FORMERLY McDOUGALL BROS. (METAL WINDOWS) LIMITED)
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 August 2024
McDOUGALLS MAINTENANCE LTD (FORMERLY McDOUGALL BROS. (METAL WINDOWS) LIMITED)
STATEMENT OF FINANCIAL POSITION
31 August 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
7,592
19,093
CURRENT ASSETS
Stocks
3,291
2,152
Debtors
6
36,656
45,142
Cash at bank and in hand
785,805
1,293,049
---------
------------
825,752
1,340,343
CREDITORS: amounts falling due within one year
7
80,238
90,351
---------
------------
NET CURRENT ASSETS
745,514
1,249,992
---------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
753,106
1,269,085
PROVISIONS
Taxation including deferred tax
2,012
5,060
---------
------------
NET ASSETS
751,094
1,264,025
---------
------------
CAPITAL AND RESERVES
Called up share capital
8
2,500
5,000
Capital redemption reserve
2,500
Profit and loss account
746,094
1,259,025
---------
------------
SHAREHOLDERS FUNDS
751,094
1,264,025
---------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
McDOUGALLS MAINTENANCE LTD (FORMERLY McDOUGALL BROS. (METAL WINDOWS) LIMITED)
STATEMENT OF FINANCIAL POSITION (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 8 April 2025 , and are signed on behalf of the board by:
Mr G A Cole
Director
Company registration number: 01828678
McDOUGALLS MAINTENANCE LTD (FORMERLY McDOUGALL BROS. (METAL WINDOWS) LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 August 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 28 Horton Close, Sedgley, Dudley, DY3 3TL, England.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment property measured at fair value through the income statement. The financial statements are prepared in Sterling, which is the functional currency of the company. 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.
Revenue recognition
Turnover in the profit and loss account is recognised when the goods are delivered and the installation or maintenance is carried out.
Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Fixtures, fittings and office equipment
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value with cost determined on a first in first out basis and net realisable value representing the estimated selling price. Provision is made for slow moving, obsolete or damaged stock where net realisable value is less than cost.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2023: 3 ).
5. TANGIBLE ASSETS
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 September 2023
3,973
3,237
43,330
50,540
Disposals
( 21,518)
( 21,518)
-------
-------
--------
--------
At 31 August 2024
3,973
3,237
21,812
29,022
-------
-------
--------
--------
Depreciation
At 1 September 2023
3,309
3,088
25,050
31,447
Charge for the year
100
22
2,301
2,423
Disposals
( 12,440)
( 12,440)
-------
-------
--------
--------
At 31 August 2024
3,409
3,110
14,911
21,430
-------
-------
--------
--------
Carrying amount
At 31 August 2024
564
127
6,901
7,592
-------
-------
--------
--------
At 31 August 2023
664
149
18,280
19,093
-------
-------
--------
--------
6. DEBTORS
2024
2023
£
£
Trade debtors
35,353
42,420
Other debtors
1,303
2,722
--------
--------
36,656
45,142
--------
--------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
10,827
19,525
Corporation tax
51,360
47,834
Social security and other taxes
8,967
11,991
Other creditors
9,084
11,001
--------
--------
80,238
90,351
--------
--------
8. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
2,500
2,500
5,000
5,000
-------
-------
-------
-------
On 27 June 2024 the company redeemed 2,500 ordinary £1 shares at a cost of £632,000.