James Mackle (U.K.) Limited 31/08/2024 iXBRL

Company registration number: 02674243

James Mackle (U.K.) Limited

Abridged filleted financial statements

31 August 2024

James Mackle (U.K.) Limited

Contents

Directors and other information

Directors responsibilities statement

Abridged statement of financial position

Notes to the financial statements

James Mackle (U.K.) Limited

Directors and other information


	Directors	Michael Mackle
		Winefride Mackle


	Secretary	Winefride Mackle


	Company number	02674243


	Registered office	57 Algores Way
		Wisbech
		Cambridgeshire
		PE13 2XQ


	Auditor	ASM (D) Ltd
		79 Cunninghams Lane
		Dungannon
		BT71 6BX




	Bankers	Danske Bank
		45-48 High Street
		Portadown
		BT62 1LB


	Solicitors	R M Cullen & Son
		16 - 20 Edward Street
		Portadown

James Mackle (U.K.) Limited

Directors responsibilities statement

Year ended 31 August 2024

The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

James Mackle (U.K.) Limited

Abridged statement of financial position

31 August 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	3,786,760		4,259,602
		_______		_______
			3,786,760		4,259,602

Current assets
Stocks		176,645		224,909
Debtors		970,697		352,412
		_______		_______
		1,147,342		577,321
Creditors: amounts falling due
within one year	6	( 2,245,556)		( 2,241,396)
		_______		_______
Net current liabilities			( 1,098,214)		( 1,664,075)
			_______		_______
Total assets less current liabilities			2,688,546		2,595,527

Creditors: amounts falling due
after more than one year			-		( 16,138)

Provisions for liabilities			( 73,604)		( 76,204)

Accruals and deferred income			( 212,503)		( 237,451)

			_______		_______
Net assets			2,402,439		2,265,734
			_______		_______

Capital and reserves
Called up share capital			100		100
Profit and loss account			2,402,339		2,265,634
			_______		_______
Shareholders funds			2,402,439		2,265,734
			_______		_______

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.

All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 31 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements were approved by the board of directors and authorised for issue on 16 May 2025 , and are signed on behalf of the board by:

Michael Mackle

Director

Company registration number: 02674243

James Mackle (U.K.) 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. The address of the registered office is 57 Algores Way, Wisbech, Cambridgeshire, PE13 2XQ.

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 on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

No analysis of turnover by activity or geographical area has been provided as, in the opinion of the directors, such disclosure would be seriously prejudicial to the interests of the company.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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 the 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.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

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:


Freehold property	-	2 %	straight line
Plant and machinery	-	10 %	straight line
Fittings fixtures and equipment	-	10 %	straight line
Motor vehicles	-	20 %	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

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 27 (2023: 32 ).

5. Tangible assets


		£
	Cost
	At 1 September 2023	8,295,844
	Additions	27,383
	Disposals	( 270,000)
		_______
	At 31 August 2024	8,053,227
		_______
	Depreciation
	At 1 September 2023	4,036,240
	Charge for the year	230,227
		_______
	At 31 August 2024	4,266,467
		_______
	Carrying amount
	At 31 August 2024	3,786,760
		_______
	At 31 August 2023	4,259,604
		_______

The net book value of tangible fixed assets includes an amount of £153,139 (2023: £176,608) in respect of assets held under hire purchase agreements.

6. Creditors: amounts falling due within one year

Obligations under hire pruchase contracts totalling £16,137 (2023: £86,261) are secured on the assets for which this finance was originaly obtained. The bank overdraft is secured by a floating charge over the assets of the company and there is a £350, 000 inter-company cross guarantee between James Mackle (UK) Limited and James Mackle Limited.

7. Summary audit opinion

The auditor's report dated 16 May 2025 was unqualified.

The senior statutory auditor was Alistair Cooke for and on behalf of ASM (D) Ltd

8. Controlling party

The directors regard James Mackle Limited , which is registered in Northern Ireland to be the company's parent company. James Mackle Limited has a 100% interest in the ordinary share capital of James Mackle (UK) Limited at 31 August 2024.The directors regard Michael Mackle as the company's ultimate controlling party.