2
01/08/2023
31/07/2024
2024-07-31
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
false
false
No description of principal activities is disclosed
2023-08-01
Sage Accounts Production 24.0 - FRS102_2024
xbrli:pure
xbrli:shares
iso4217:GBP
06303852
2023-08-01
2024-07-31
06303852
2024-07-31
06303852
2023-07-31
06303852
2022-08-01
2023-07-31
06303852
2023-07-31
06303852
2022-07-31
06303852
core:PlantMachinery
2023-08-01
2024-07-31
06303852
core:FurnitureFittingsToolsEquipment
2023-08-01
2024-07-31
06303852
core:NetGoodwill
2023-08-01
2024-07-31
06303852
bus:RegisteredOffice
2023-08-01
2024-07-31
06303852
bus:LeadAgentIfApplicable
2023-08-01
2024-07-31
06303852
bus:Director1
2023-08-01
2024-07-31
06303852
bus:Director2
2023-08-01
2024-07-31
06303852
bus:CompanySecretary1
2023-08-01
2024-07-31
06303852
core:NetGoodwill
2024-07-31
06303852
core:PlantMachinery
2023-07-31
06303852
core:FurnitureFittingsToolsEquipment
2023-07-31
06303852
core:PlantMachinery
2024-07-31
06303852
core:FurnitureFittingsToolsEquipment
2024-07-31
06303852
core:WithinOneYear
2024-07-31
06303852
core:WithinOneYear
2023-07-31
06303852
core:AfterOneYear
2024-07-31
06303852
core:AfterOneYear
2023-07-31
06303852
core:ShareCapital
2024-07-31
06303852
core:ShareCapital
2023-07-31
06303852
core:RetainedEarningsAccumulatedLosses
2024-07-31
06303852
core:RetainedEarningsAccumulatedLosses
2023-07-31
06303852
core:NetGoodwill
2023-07-31
06303852
core:PlantMachinery
2023-07-31
06303852
core:FurnitureFittingsToolsEquipment
2023-07-31
06303852
core:LeasedAssetsHeldAsLessee
core:PlantMachinery
2024-07-31
06303852
core:LeasedAssetsHeldAsLessee
core:PlantMachinery
2023-07-31
06303852
bus:Director1
2023-07-31
06303852
bus:Director1
2024-07-31
06303852
bus:Director2
2023-07-31
06303852
bus:Director2
2024-07-31
06303852
bus:Director1
2022-07-31
06303852
bus:Director1
2023-07-31
06303852
bus:Director2
2022-07-31
06303852
bus:Director2
2023-07-31
06303852
bus:Director1
2022-08-01
2023-07-31
06303852
bus:Director2
2022-08-01
2023-07-31
06303852
bus:SmallEntities
2023-08-01
2024-07-31
06303852
bus:AuditExemptWithAccountantsReport
2023-08-01
2024-07-31
06303852
bus:SmallCompaniesRegimeForAccounts
2023-08-01
2024-07-31
06303852
bus:PrivateLimitedCompanyLtd
2023-08-01
2024-07-31
06303852
bus:FullAccounts
2023-08-01
2024-07-31
Company registration number:
06303852
Nigel Mckie Ltd
Unaudited filleted financial statements
Year ended
31 July 2024
Nigel Mckie Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Nigel Mckie Ltd
Directors and other information
|
|
|
|
Directors |
Mr N Mckie |
|
|
Mrs V Mckie |
|
|
|
|
|
|
|
Secretary |
Mrs V Mckie |
|
|
|
|
|
|
|
Company number |
06303852 |
|
|
|
|
|
|
|
Registered office |
Heronsbeck |
|
|
1 Badby Road West |
|
|
Daventry |
|
|
Northamptonshire |
|
|
NN11 4HJ |
|
|
|
|
|
|
|
Accountants |
Rogove & Company |
|
|
Chartered Accountants |
|
|
70 White Lion Street |
|
|
London |
|
|
N1 9PP |
|
|
|
Nigel Mckie Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Nigel Mckie Ltd
Year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nigel Mckie Ltd for the year ended 31 July 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance.
This report is made solely to the board of directors of Nigel Mckie Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nigel Mckie Ltd and state those matters that we have agreed to state to the board of directors of Nigel Mckie Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nigel Mckie Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Nigel Mckie Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Nigel Mckie Ltd. You consider that Nigel Mckie Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Nigel Mckie Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Rogove & Company
Chartered Accountants
70 White Lion Street
London
N1 9PP
29 April 2025
Nigel Mckie Ltd
Statement of financial position
31 July 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
- |
|
|
|
- |
|
|
Tangible assets |
|
6 |
127,526 |
|
|
|
144,136 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
127,526 |
|
|
|
144,136 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
63,601 |
|
|
|
107,815 |
|
|
Debtors |
|
7 |
280,817 |
|
|
|
399,038 |
|
|
Cash at bank and in hand |
|
|
375,157 |
|
|
|
412,130 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
719,575 |
|
|
|
918,983 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
218,721) |
|
|
|
(
311,933) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
500,854 |
|
|
|
607,050 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
628,380 |
|
|
|
751,186 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
9 |
|
|
(
9,167) |
|
|
|
(
49,858) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
31,882) |
|
|
|
(
36,034) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
587,331 |
|
|
|
665,294 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
100 |
|
|
|
100 |
Profit and loss account |
|
|
|
|
587,231 |
|
|
|
665,194 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
587,331 |
|
|
|
665,294 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
29 April 2025
, and are signed on behalf of the board by:
Mrs V Mckie
Director
Company registration number:
06303852
Nigel Mckie Ltd
Notes to the financial statements
Year ended 31 July 2024
1.
General information
The company is a private company limited by shares, registered in England & Wales. The company registration number is:
06303852
. The address of the registered office is Heronsbeck, 1 Badby Road West, Daventry, Northamptonshire, NN11 4HJ.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention.
Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for discounts, customer rebates and other similar allowances. Revenue excludes Value Added Tax.
Taxation
Taxation represents the sum of tax currently payable and deferred tax.The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, has been amortised evenly over its estimated useful life of ten years.
Tangible assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.
Depreciation
Depreciation is provided at the following annual rates in order to write off 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 % |
straight line |
|
Fittings fixtures and equipment |
- |
25 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Stocks
Work in progress is valued at the lower of cost and net realisable value.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.
Hire purchase and finance leases
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.
Financial instruments
Loans are recognised at the transaction value.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
5.
Intangible assets
|
|
Goodwill |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 August 2023 and 31 July 2024 |
18,000 |
18,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 August 2023 and 31 July 2024 |
18,000 |
18,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 July 2024 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 July 2023 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Plant and machinery |
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 August 2023 |
394,088 |
12,198 |
406,286 |
|
|
|
|
|
Additions |
48,438 |
576 |
49,014 |
|
|
|
|
|
Disposals |
(
89,618) |
(
3,609) |
(
93,227) |
|
|
|
|
|
Transfers |
(
36,885) |
- |
(
36,885) |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 July 2024 |
316,023 |
9,165 |
325,188 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 August 2023 |
253,246 |
8,904 |
262,150 |
|
|
|
|
|
Charge for the year |
60,654 |
1,636 |
62,290 |
|
|
|
|
|
Disposals |
(
86,284) |
(
3,609) |
(
89,893) |
|
|
|
|
|
Transfers |
(
36,885) |
- |
(
36,885) |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 July 2024 |
190,731 |
6,931 |
197,662 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 July 2024 |
125,292 |
2,234 |
127,526 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 July 2023 |
140,842 |
3,294 |
144,136 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
Obligations under finance leases
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
|
|
|
|
|
|
|
|
|
|
|
Plant and machinery |
|
|
|
|
|
|
|
|
£ |
|
|
|
|
|
|
|
At 31 July 2024 |
12,083 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
At 31 July 2023 |
83,223 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
253,285 |
392,348 |
|
Other debtors |
|
27,532 |
6,690 |
|
|
|
_______ |
_______ |
|
|
|
280,817 |
399,038 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and other loans |
|
18,655 |
19,485 |
|
Trade creditors |
|
45,126 |
73,486 |
|
Corporation tax |
|
64,091 |
147,917 |
|
Social security and other taxes |
|
6 |
6 |
|
Net obligations under finance leases and hire purchase contracts |
|
7,754 |
30,932 |
|
Other creditors |
|
83,089 |
40,107 |
|
|
|
_______ |
_______ |
|
|
|
218,721 |
311,933 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and other loans |
|
9,167 |
30,297 |
|
Net obligations under finance leases and hire purchase contracts |
|
- |
19,561 |
|
|
|
_______ |
_______ |
|
|
|
9,167 |
49,858 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Directors advances, credits and guarantees
|
During the year the following loans with directors loans subsisted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
|
|
|
|
|
|
|
|
Balance outstanding at start of year |
Advances to the directors |
Amounts repaid |
Balance outstanding at end of year |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr N Mckie |
(
47) |
95,538 |
(
77,096) |
18,395 |
|
|
|
Mrs V Mckie |
(
52) |
39,264 |
(
47,362) |
(
8,150) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
(
99) |
134,802 |
(
124,458) |
10,245 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance outstanding at start of year |
Advances to the directors |
Amounts repaid |
Balance outstanding at end of year |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr N Mckie |
6,200 |
143,604 |
(
149,851) |
(
47) |
|
|
|
Mrs V Mckie |
6,735 |
155,570 |
(
162,357) |
(
52) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
12,935 |
299,174 |
(
312,208) |
(
99) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
Amounts owing by a director (£18,395) and to a director (£8,150) are unsecured, interest free and repayable on demand.