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Registered Number: 08503267
England and Wales

 

 

 


Filleted Accounts

for the year ended 30 April 2024

for

MCGUIRE TRANSPORT LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 156,718    208,726 
156,718    208,726 
Current assets      
Debtors: amounts falling due within one year 4 64,572    64,136 
Cash at bank and in hand 57,379    36,784 
121,951    100,920 
Creditors: amount falling due within one year 5 (56,038)   (60,725)
Net current assets 65,913    40,195 
 
Total assets less current liabilities 222,631    248,921 
Creditors: amount falling due after more than one year 6 (107,893)   (169,282)
Provisions for liabilities 7 (17,164)   (39,658)
Net assets 97,574    39,981 
 

Capital and reserves
     
Called up share capital 8 1    1 
Profit and loss account 97,573    39,980 
Shareholders' funds 97,574    39,981 
 


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 22 April 2025 and were signed by:


-------------------------------
Michael McGuire
Director
1
General Information
McGuire Transport Ltd is a private company, limited by shares, registered in England and Wales, registration number 08503267, registration address Penny Lane Business Centre, 374 Smithdown Road, Liverpool, Merseyside, L15 5AN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 4 (2023 : 5).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 May 2023 23,058    452,422    4,024    479,504 
Additions     230    230 
Disposals      
At 30 April 2024 23,058    452,422    4,254    479,734 
Depreciation
At 01 May 2023 13,701    254,243    2,834    270,778 
Charge for year 2,339    49,544    355    52,238 
On disposals      
At 30 April 2024 16,040    303,787    3,189    323,016 
Net book values
Closing balance as at 30 April 2024 7,018    148,635    1,065    156,718 
Opening balance as at 01 May 2023 9,357    198,179    1,190    208,726 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 64,572    63,771 
Other Debtors   365 
64,572    64,136 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 20,100    46,211 
Bank Loans & Overdrafts 10,456    9,479 
PAYE & Social Security 639    521 
Accrued Expenses 182    182 
Other Creditors 20,342   
Directors' Current Accounts 3,000    4,332 
VAT 1,319   
56,038    60,725 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 7,305    11,572 
Obligations Under HP/Financial Leases 100,588    157,710 
107,893    169,282 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 17,164    39,658 
17,164    39,658 

8.

Share Capital

Authorised
1 Ordinary share of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
1 Ordinary share of £1.00 each  
 

2