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Registered number: 07036610
McGarry Blinds Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Aspreys Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07036610
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 135,922 106,509
135,922 106,509
CURRENT ASSETS
Debtors 5 86,731 73,574
Cash at bank and in hand 192,033 262,024
278,764 335,598
Creditors: Amounts falling due within one year 6 (169,857 ) (196,265 )
NET CURRENT ASSETS (LIABILITIES) 108,907 139,333
TOTAL ASSETS LESS CURRENT LIABILITIES 244,829 245,842
Creditors: Amounts falling due after more than one year 7 (10,682 ) (20,752 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (28,987 ) (19,990 )
NET ASSETS 205,160 205,100
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 205,060 205,000
SHAREHOLDERS' FUNDS 205,160 205,100
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For the year ending 31 December 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael McGarry
Director
10/07/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
McGarry Blinds Limited is a private company limited by shares, and is incorporated in England & Wales (registered number 07036610 .) Its registered office and principal place of business is located at Unit 17, Nonsuch Industrial Estate, Kiln Lane, Epsom, Surrey, KT17 1DH.
The principal activity of the company continued to be the sale and fitting of bespoke blinds and shutters to retail and wholesale customers.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are presented in sterling, which is the functional currency of the company.
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 have also been consistently applied within the same accounts.
2.2. Significant judgements and estimations
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.  The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant.  Actual results may differ from these estimates.
Estimates and their underlying assumptions are reviewed on an ongoing basis. 
The items in the financial statements where these judgement and estimates have been made include: 
- The useful life of fixed assets
2.3. Turnover
Tunover represents the net invoiced sales of goods and services, excluding value added tax - except in respect of service contracts, where turnover is recognised when the company earns the right to consideration based on the extent to which work has been completed.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on cost
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% on cost
Computer Equipment 33% on cost
Impairment of Assets
At each reporting date, fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount. 
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment been recognised for the asset in prior years. 
All impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
2.5. Leasing and Hire Purchase Contracts
Rentals payable under 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 over the lease term.
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2.6. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans with related parties and other third parties.
Financial Assets
Basic financial assets, including trade and other receivables, and cash and bank balances are recognised at transaction price, less any impairment.
Financial Liabilities
Basic financial liabilities, including trade and other payables, are recognised at transaction price, less any impairment, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
2.7. Taxation
The overall tax charge represents the sum of the tax currently payable and deferred tax.
Current and deferred tax are recognised in the profit and loss account for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.  On the grounds of immateriality, deferred tax assets and liabilities are not discounted.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because it excludes items of income and expenditure that are not taxable or deductible, or that are taxable or deductible in other accounting periods. 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
Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise.  Timing differences arise from the inclusion of items of income and expenditure in the taxation computation in periods different from those in which they are included in the financial statements. 
Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Employee Benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 13)
12 13
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 January 2024 247,331
Additions 74,986
Disposals (62,812 )
As at 31 December 2024 259,505
...CONTINUED
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Page 5
Depreciation
As at 1 January 2024 140,822
Provided during the period 32,600
Disposals (49,839 )
As at 31 December 2024 123,583
Net Book Value
As at 31 December 2024 135,922
As at 1 January 2024 106,509
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 73,022 59,696
Other debtors 13,709 13,878
86,731 73,574
6. Creditors: Amounts falling due within one year
2024 2023
£ £
Trade creditors 73,764 47,515
Bank loans and overdrafts 10,072 9,994
Other creditors 61,755 102,702
Taxation and social security 24,266 36,054
169,857 196,265
7. Creditors: Amounts falling due after more than one year
2024 2023
£ £
Bank loans 10,682 20,752
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
75 Ordinary A shares of £ 1.00 each 75 75
10 Ordinary B shares of £ 1.00 each 10 10
5 Ordinary C shares of £ 1.00 each 5 5
5 Ordinary D shares of £ 1.00 each 5 5
5 Ordinary E shares of £ 1.00 each 5 5
100 100
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9. Other Commitments
At the balance sheet date, the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases as follows:
2024 2023
£ £
Not later than one year 52,753 58,408
Later than one year and not later than five years 22,426 62,787
75,179 121,195
10. Ultimate Controlling Party
The company's ultimate controlling party is Michael McGarry , by virtue of his shareholding in the company.
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