Company Registration No. 11027193 (England and Wales)
McGovern Assessments Limited
Unaudited accounts
for the year ended 31 October 2024
McGovern Assessments Limited
Unaudited accounts
Contents
McGovern Assessments Limited
Company Information
for the year ended 31 October 2024
Company Number
11027193 (England and Wales)
Registered Office
112 - 113 High Street
LINCOLN
LN5 7PY
UNITED KINGDOM
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA
Templar Accounting & Business Support
Services Limited (Incorp: Blake and Co )
112 - 113 High Street,
Lincoln, Lincolnshire
LN5 7PY
McGovern Assessments Limited
Statement of financial position
as at 31 October 2024
Tangible assets
123,373
88,130
Cash at bank and in hand
170,746
112,376
Creditors: amounts falling due within one year
(199,559)
(42,649)
Net current assets
134,062
140,936
Total assets less current liabilities
257,435
229,066
Creditors: amounts falling due after more than one year
(61,696)
(81,058)
Provisions for liabilities
Deferred tax
(36,891)
(26,424)
Other provisions
(100,000)
-
Called up share capital
100
100
Profit and loss account
58,748
121,484
Shareholders' funds
58,848
121,584
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 May 2025 and were signed on its behalf by
Jonjo McGovern
Director
Company Registration No. 11027193
McGovern Assessments Limited
Notes to the Accounts
for the year ended 31 October 2024
McGovern Assessments Limited is a private company, limited by shares, registered in England and Wales, registration number 11027193. The registered office is 112 - 113 High Street, LINCOLN, LN5 7PY, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Motor vehicles
25% Reducing balance
Fixtures & fittings
25% Reducing balance
Computer equipment
25% Reducing balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
McGovern Assessments Limited
Notes to the Accounts
for the year ended 31 October 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2023
-
127,194
9,248
136,442
Additions
60,300
35,507
1,778
97,585
Disposals
-
(48,500)
-
(48,500)
At 31 October 2024
60,300
114,201
11,026
185,527
At 1 November 2023
-
44,173
4,139
48,312
Charge for the year
15,075
24,327
1,721
41,123
On disposals
-
(27,281)
-
(27,281)
At 31 October 2024
15,075
41,219
5,860
62,154
At 31 October 2024
45,225
72,982
5,166
123,373
At 31 October 2023
-
83,021
5,109
88,130
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
72,982
83,021
Amounts falling due within one year
Trade debtors
162,875
71,026
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
20,319
2,250
Obligations under finance leases and hire purchase contracts
12,724
12,053
Taxes and social security
1,746
16,444
Loans from directors
591
1,238
McGovern Assessments Limited
Notes to the Accounts
for the year ended 31 October 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
49,848
66,948
Taxes and social security
-
105
8
Deferred taxation
2024
2023
Accelerated capital allowances
36,891
26,424
Provision at start of year
26,424
11,947
Charged to the profit and loss account
10,467
14,477
Provision at end of year
36,891
26,424
A deferred taxation reserve has been created, due to accelerated capital allowances of some £35,891 cumulative.
This reserve will reverse in future periods and create a tax liability at the prevailing rate on the day.
9
Provisions for liabilities
£
Additional provisions made during the period
100,000
At 31 October 2024
100,000
A provision has been created with regard to the development of the training site
Os Field 1600, Saxilby Road, Lincoln, Lincolnshire.
Change of Use Application made by
Mr. C Wilson (Professional Civil Engineer/Planning Consultant)
Land being cleared of all surface elements and used to create the earth noise abatement bunding.
Hardcore to site allowing drainage, followed by concrete surface with newton strength to accommodate medium plant and machinery used in training.
A wall 6" high to the perimeter of the training site to ensure environmental protection from oil ingress from the machines.
Planting of trees, shrubs, etc. to the areas necessary to prevent any changes in line of sight for any local neighboring houses or businesses.
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
11
Average number of employees
During the year the average number of employees was 2 (2023: 2).