IRIS Accounts Production v25.1.0.734 02925827 Board of Directors 1.11.23 31.10.24 31.10.24 false true false false false true false Ordinary A 1.00000 Ordinary B 1.00000 Ordinary C 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh029258272023-10-31029258272024-10-31029258272023-11-012024-10-31029258272022-04-30029258272022-05-012023-10-31029258272023-10-3102925827ns15:EnglandWales2023-11-012024-10-3102925827ns14:PoundSterling2023-11-012024-10-3102925827ns10:Director12023-11-012024-10-3102925827ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3102925827ns10:SmallEntities2023-11-012024-10-3102925827ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-3102925827ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3102925827ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3102925827ns10:FullAccounts2023-11-012024-10-310292582712023-11-012024-10-3102925827ns10:OrdinaryShareClass12023-11-012024-10-3102925827ns10:OrdinaryShareClass22023-11-012024-10-3102925827ns10:OrdinaryShareClass32023-11-012024-10-3102925827ns10:Director22023-11-012024-10-3102925827ns10:CompanySecretary12023-11-012024-10-3102925827ns10:RegisteredOffice2023-11-012024-10-3102925827ns5:CurrentFinancialInstruments2024-10-3102925827ns5:CurrentFinancialInstruments2023-10-3102925827ns5:Non-currentFinancialInstruments2024-10-3102925827ns5:Non-currentFinancialInstruments2023-10-3102925827ns5:ShareCapital2024-10-3102925827ns5:ShareCapital2023-10-3102925827ns5:RetainedEarningsAccumulatedLosses2024-10-3102925827ns5:RetainedEarningsAccumulatedLosses2023-10-3102925827ns5:NetGoodwill2023-11-012024-10-3102925827ns5:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3102925827ns5:PlantMachinery2023-11-012024-10-3102925827ns5:MotorVehicles2023-11-012024-10-3102925827ns5:NetGoodwill2023-10-3102925827ns5:NetGoodwill2024-10-3102925827ns5:NetGoodwill2023-10-3102925827ns5:PlantMachinery2023-10-3102925827ns5:MotorVehicles2023-10-3102925827ns5:PlantMachinery2024-10-3102925827ns5:MotorVehicles2024-10-3102925827ns5:PlantMachinery2023-10-3102925827ns5:MotorVehicles2023-10-3102925827ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-10-3102925827ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-10-3102925827ns5:LeasedAssetsHeldAsLessee2023-10-3102925827ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-11-012024-10-3102925827ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-11-012024-10-3102925827ns5:LeasedAssetsHeldAsLessee2023-11-012024-10-3102925827ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-10-3102925827ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-10-3102925827ns5:LeasedAssetsHeldAsLessee2024-10-3102925827ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-10-3102925827ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-10-3102925827ns5:LeasedAssetsHeldAsLessee2023-10-3102925827ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3102925827ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3102925827ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-10-3102925827ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-10-3102925827ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-10-3102925827ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-10-3102925827ns5:Secured2024-10-3102925827ns5:Secured2023-10-3102925827ns5:DeferredTaxation2023-10-3102925827ns5:DeferredTaxation2024-10-3102925827ns10:OrdinaryShareClass12024-10-3102925827ns10:OrdinaryShareClass22024-10-3102925827ns10:OrdinaryShareClass32024-10-31029258271ns10:Director12023-10-31029258271ns10:Director12022-04-30029258271ns10:Director12023-11-012024-10-31029258271ns10:Director12022-05-012023-10-31029258271ns10:Director12024-10-31029258271ns10:Director12023-10-3102925827ns10:Director222023-10-3102925827ns10:Director222022-04-3002925827ns10:Director222023-11-012024-10-3102925827ns10:Director222022-05-012023-10-3102925827ns10:Director222024-10-3102925827ns10:Director222023-10-3102925827ns10:Director32023-11-012024-10-31029258273ns10:Director32023-10-31029258273ns10:Director32022-04-30029258273ns10:Director32023-11-012024-10-31029258273ns10:Director32022-05-012023-10-31029258273ns10:Director32024-10-31029258273ns10:Director32023-10-31
REGISTERED NUMBER: 02925827 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2024

FOR

A + S MCKAY SHEET METAL FABRICATION LTD

A + S MCKAY SHEET METAL FABRICATION LTD (REGISTERED NUMBER: 02925827)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A + S MCKAY SHEET METAL FABRICATION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2024







DIRECTORS: A W McKay
S McKay



SECRETARY: S McKay



REGISTERED OFFICE: 66 Old Bidston Road
Birkenhead
Merseyside
CH41 8BL



REGISTERED NUMBER: 02925827 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
10 Nicholas Street
Chester
CH1 2NX



BANKERS: Barclays Bank PLC
2 Liscard Village
Wallesey
CH45 4JS

A + S MCKAY SHEET METAL FABRICATION LTD (REGISTERED NUMBER: 02925827)

BALANCE SHEET
31ST OCTOBER 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 138,292 182,387
138,292 182,387

CURRENT ASSETS
Stocks 6 38,162 29,793
Debtors 7 260,298 250,270
Prepayments and accrued income - 33,882
Cash at bank 8,206 17,397
306,666 331,342
CREDITORS
Amounts falling due within one year 8 233,662 222,233
NET CURRENT ASSETS 73,004 109,109
TOTAL ASSETS LESS CURRENT
LIABILITIES

211,296

291,496

CREDITORS
Amounts falling due after more than one
year

9

(130,833

)

(165,833

)

PROVISIONS FOR LIABILITIES 12 (34,573 ) (45,597 )
NET ASSETS 45,890 80,066

CAPITAL AND RESERVES
Called up share capital 13 100 100
Retained earnings 45,790 79,966
SHAREHOLDERS' FUNDS 45,890 80,066

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

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

A + S MCKAY SHEET METAL FABRICATION LTD (REGISTERED NUMBER: 02925827)

BALANCE SHEET - continued
31ST OCTOBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th February 2025 and were signed on its behalf by:





S McKay - Director


A + S MCKAY SHEET METAL FABRICATION LTD (REGISTERED NUMBER: 02925827)

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

1. STATUTORY INFORMATION

A + S Mckay Sheet Metal Fabrication Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


A + S MCKAY SHEET METAL FABRICATION LTD (REGISTERED NUMBER: 02925827)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 10 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st November 2023
and 31st October 2024 100,905
AMORTISATION
At 1st November 2023
and 31st October 2024 100,905
NET BOOK VALUE
At 31st October 2024 -
At 31st October 2023 -

A + S MCKAY SHEET METAL FABRICATION LTD (REGISTERED NUMBER: 02925827)

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

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st November 2023 309,662 74,595 384,257
Additions 2,471 - 2,471
At 31st October 2024 312,133 74,595 386,728
DEPRECIATION
At 1st November 2023 137,423 64,447 201,870
Charge for year 44,030 2,536 46,566
At 31st October 2024 181,453 66,983 248,436
NET BOOK VALUE
At 31st October 2024 130,680 7,612 138,292
At 31st October 2023 172,239 10,148 182,387

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st November 2023
and 31st October 2024 175,000 21,495 196,495
DEPRECIATION
At 1st November 2023 21,875 15,828 37,703
Charge for year 38,281 1,416 39,697
At 31st October 2024 60,156 17,244 77,400
NET BOOK VALUE
At 31st October 2024 114,844 4,251 119,095
At 31st October 2023 153,125 5,667 158,792

6. STOCKS
31.10.24 31.10.23
£    £   
Stocks 1,800 2,000
Work-in-progress 36,362 27,793
38,162 29,793

A + S MCKAY SHEET METAL FABRICATION LTD (REGISTERED NUMBER: 02925827)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 84,927 82,466
Other debtors 32,519 32,519
Loan 2,955 16,400
Directors' current accounts 116,066 96,236
Prepayments 23,831 22,649
260,298 250,270

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts (see note 10) 10,000 10,000
Hire purchase contracts 25,000 27,866
Trade creditors 93,589 139,073
Tax 21,819 6,845
Social security and other taxes 9,342 6,899
VAT 23,938 24,941
Other creditors 639 599
Invoice discounting 44,190 -
Accrued expenses 5,145 6,010
233,662 222,233

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans (see note 10) 5,833 15,833
Hire purchase contracts 125,000 150,000
130,833 165,833

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase 25,000 50,000

10. LOANS

An analysis of the maturity of loans is given below:

31.10.24 31.10.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,833 10,000

A + S MCKAY SHEET METAL FABRICATION LTD (REGISTERED NUMBER: 02925827)

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

10. LOANS - continued
31.10.24 31.10.23
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years - 5,833

11. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Bank loans 15,833 25,833
Hire purchase contracts 150,000 177,866
165,833 203,699

12. PROVISIONS FOR LIABILITIES
31.10.24 31.10.23
£    £   
Deferred tax
Accelerated capital allowances 34,573 45,597

Deferred
tax
£   
Balance at 1st November 2023 45,597
Movement in the year due to:
changes in tax rates
changes in tax allowances (11,024 )
Balance at 31st October 2024 34,573

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
45 Ordinary A £1 45 45
45 Ordinary B £1 45 45
10 Ordinary C £1 10 10
100 100

14. CAPITAL COMMITMENTS
31.10.24 31.10.23
£    £   
Contracted but not provided for in the
financial statements - -

A + S MCKAY SHEET METAL FABRICATION LTD (REGISTERED NUMBER: 02925827)

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

15. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31st October 2024 and the period ended 31st October 2023:

31.10.24 31.10.23
£    £   
S McKay
Balance outstanding at start of year 18,110 23,661
Amounts advanced 60,251 71,625
Amounts repaid (60,428 ) (77,176 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,933 18,110

A W McKay
Balance outstanding at start of year 19,809 24,201
Amounts advanced 59,207 72,784
Amounts repaid (60,428 ) (77,176 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,588 19,809

W R Swarbrick Deceased
Balance outstanding at start of year 58,317 49,242
Amounts advanced 24,035 61,041
Amounts repaid (2,807 ) (51,966 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 79,545 58,317

The company paid rent of £23,040 (2023: £34,560 for the 18 month period, £23,040 per year) to A.W. McKay and S. McKay in respect of the premises used by the company.

Advances and credits have been granted to directors during the year which are interest free and repayable on demand.

16. RELATED PARTY DISCLOSURES

An interest free loan which is repayable on demand and classified in debtors was granted to J M Precision Fabrication & Welding Limited a company owned and controlled by a close family member of A Mckay. The amount outstanding at the year end was £nil (2023: £16,400).