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REGISTERED NUMBER: 08138632 (England and Wales)














Financial Statements

for the Year Ended 31 December 2024

for

McMillans Engineering Limited

McMillans Engineering Limited (Registered number: 08138632)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


McMillans Engineering Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: A Arthur
J A Campbell





REGISTERED OFFICE: High House Farm
Mill End
Bishop's Stortford
CM22 6PL





REGISTERED NUMBER: 08138632 (England and Wales)





AUDITORS: Henderson & Company
73 Union Street
Greenock
Renfrewshire
PA16 8BG

McMillans Engineering Limited (Registered number: 08138632)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 161,293 118,922
161,293 118,922

CURRENT ASSETS
Stocks 26,290 28,460
Debtors 6 494,271 487,656
Cash at bank 69,527 22,122
590,088 538,238
CREDITORS
Amounts falling due within one year 7 139,738 113,746
NET CURRENT ASSETS 450,350 424,492
TOTAL ASSETS LESS CURRENT
LIABILITIES

611,643

543,414

CREDITORS
Amounts falling due after more than one
year

8

(11,151

)

(15,180

)

PROVISIONS FOR LIABILITIES (32,308 ) (20,142 )
NET ASSETS 568,184 508,092

CAPITAL AND RESERVES
Called up share capital 1 1
Share premium 6,874 6,874
Retained earnings 561,309 501,217
568,184 508,092

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2025 and were signed on its behalf by:





A Arthur - Director


McMillans Engineering Limited (Registered number: 08138632)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

McMillans Engineering 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, 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 rates calculated to write off the cost less estimated residual value of each asset over their expected useful lives as follows:

Plant and Machinery - at variable rates over 3 - 20 years
Motor Vehicles - at 10% on cost
Fixtures and Fittings - at 10% on cost
Computer Equipment - over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate or if there is an indication of significant change since the last reporting date.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


McMillans Engineering Limited (Registered number: 08138632)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on 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. Deferred tax liabilities are recognised for all taxable timing differences. Deferred tax assets are recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount for 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 recoverd.

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 asset realised, based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Hire purchase and leasing commitments
Assets held under finance lease and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Operating lease payments are recognised as an expense on a straightline basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expenses on a straight line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. The assets of the plan are held separately from the company in independently administered funds.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position bank overdrafts are shown within borrowings in current liabilities.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value and thereafter stated at amortised cost using the effective interest method, less any impairment.

McMillans Engineering Limited (Registered number: 08138632)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Creditors
Basic financial instruments, including preference shares that are classified as debt, are measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is initially measured at fair value and subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 50,000
AMORTISATION
At 1 January 2024
and 31 December 2024 50,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2024 84,686 1,490 108,800 194,976
Additions 62,906 - - 62,906
At 31 December 2024 147,592 1,490 108,800 257,882
DEPRECIATION
At 1 January 2024 43,759 1,468 30,827 76,054
Charge for year 9,646 9 10,880 20,535
At 31 December 2024 53,405 1,477 41,707 96,589
NET BOOK VALUE
At 31 December 2024 94,187 13 67,093 161,293
At 31 December 2023 40,927 22 77,973 118,922

The written down value of tangible fixed assets includes £49,270 (2023 - £38,393) in respect of fixed assets held under hire purchase agreements.

McMillans Engineering Limited (Registered number: 08138632)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 141,417 120,767
Amounts owed by group undertakings 326,427 341,000
Other debtors 26,427 25,889
494,271 487,656

Included in other debtors at 31.12.24 is a balance of £9,440 (2023 - £Nil) which is repayable in more than one year from the balance sheet date.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 15,180 3,307
Trade creditors 56,206 49,676
Amounts owed to group undertakings 15,129 -
Taxation and social security 47,232 51,628
Other creditors 5,991 9,135
139,738 113,746

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 11,151 15,180

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Henderson (Senior Statutory Auditor)
for and on behalf of Henderson & Company

10. ULTIMATE CONTROLLING PARTY

The company is a subsidiary of Blue Group Collective Limited, a company registered in England. The registered office of Blue Group Collective Limited is Gallop House, Haslers Lane, Dunmow, CM6 1XS. Blue Group Collective Limited prepare and file group accounts which consolidate the results of all group companies.

Blue Group Collective Limited is a company under the control of Mr & Mrs J. Baker who own 85.63% of the issued share capital and are therefore the ultimate controlling party.