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REGISTERED NUMBER: 08410159 (England and Wales)















MCCARTNEY FOOD SERVICE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025






MCCARTNEY FOOD SERVICE LIMITED (REGISTERED NUMBER: 08410159)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


MCCARTNEY FOOD SERVICE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2025







DIRECTORS: P J McCartney
Mrs E McCartney
Mrs R E Short
M T S Short





REGISTERED OFFICE: Church Road
Freiston
Boston
Lincolnshire
PE22 0NX





REGISTERED NUMBER: 08410159 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
5 Resolution Close
Endeavour Park
Boston
Lincolnshire
PE21 7TT

MCCARTNEY FOOD SERVICE LIMITED (REGISTERED NUMBER: 08410159)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 209,863 219,413
209,863 219,413

CURRENT ASSETS
Stocks 194,377 370,085
Debtors 6 174,968 132,876
Cash in hand - 29,289
369,345 532,250
CREDITORS
Amounts falling due within one year 7 348,558 356,336
NET CURRENT ASSETS 20,787 175,914
TOTAL ASSETS LESS CURRENT LIABILITIES 230,650 395,327

CREDITORS
Amounts falling due after more than one year 8 (28,689 ) (67,326 )

PROVISIONS FOR LIABILITIES (52,433 ) (41,679 )
NET ASSETS 149,528 286,322

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 149,428 286,222
SHAREHOLDERS' FUNDS 149,528 286,322

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

MCCARTNEY FOOD SERVICE LIMITED (REGISTERED NUMBER: 08410159)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 2025


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 19 June 2025 and were signed on its behalf by:





M T S Short - Director


MCCARTNEY FOOD SERVICE LIMITED (REGISTERED NUMBER: 08410159)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

1. STATUTORY INFORMATION

McCartney Food Service Limited 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 represents net invoiced sales of goods, excluding value added tax, and is recognised on an invoice basis.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, 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 each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance and 10% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


MCCARTNEY FOOD SERVICE LIMITED (REGISTERED NUMBER: 08410159)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Rentals paid under operating leases are charged to the statement of income and retained earnings 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.

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the statement of income and retained earnings in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2024
and 28 February 2025 25,000
AMORTISATION
At 1 March 2024
and 28 February 2025 25,000
NET BOOK VALUE
At 28 February 2025 -
At 29 February 2024 -

MCCARTNEY FOOD SERVICE LIMITED (REGISTERED NUMBER: 08410159)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2024 501,673
Additions 20,163
At 28 February 2025 521,836
DEPRECIATION
At 1 March 2024 282,260
Charge for year 29,713
At 28 February 2025 311,973
NET BOOK VALUE
At 28 February 2025 209,863
At 29 February 2024 219,413

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 138,371 124,507
Other debtors 36,597 8,369
174,968 132,876

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 93,874 86,013
Hire purchase contracts (see note 9) 6,447 6,469
Trade creditors 209,254 233,115
Taxation and social security 7,496 15,500
Other creditors 31,487 15,239
348,558 356,336

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans 25,418 57,608
Hire purchase contracts (see note 9) 3,271 9,718
28,689 67,326

MCCARTNEY FOOD SERVICE LIMITED (REGISTERED NUMBER: 08410159)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2025 2024
£    £   
Net obligations repayable:
Within one year 6,447 6,469
Between one and five years 3,271 9,718
9,718 16,187

Non-cancellable operating leases
2025 2024
£    £   
Within one year 10,828 -
Between one and five years 14,728 -
25,556 -

10. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank overdrafts 69,538 54,758
Bank loans 49,754 88,863
Hire purchase contracts 9,718 16,187
129,010 159,808

The bank overdraft and bank loans are secured on company assets.

Hire purchase contracts are secured on the assets to which they relate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
100 Ordinary 1 100 100

12. RELATED PARTY DISCLOSURES

At the year end there was a credit balance on the director's current account of £7,508 (2024 - £11,400). During the year the company paid rent to Mr P and Mrs E McCartney of £27,480. This is based on the normal commercial terms.