MACKINTOSH & PARKER ELECTRICAL CONTRACTORS LIMITED


Directors	MACKINTOSH, Alexander
	PARKER, Kevin


Registered Address	The Workshop, 6
	Standard Way
	Northallerton
	DL6 2XE


Registered Number	11191314 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

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.

	Defined contribution pension plan
	The company operates a defined contribution 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 obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Defined contribution pension plan

The company operates a defined contribution 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 obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in other creditors in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	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
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Goodwill
	Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be five years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

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

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	15
	Vehicles	15
	Office Equipment	25

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 

At each date of Statement of Financial Position, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.  The impairment loss is recognised immediately in the Income Statement.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	21		22

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 April 24	23,400	23,400
At 31 March 25	23,400	23,400
Amortisation and impairment
At 01 April 24	23,400	23,400
At 31 March 25	23,400	23,400
Net book value
At 31 March 25	-	-
At 31 March 24	-	-

4.	Tangible fixed assets

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 April 24	25,395	180,741	6,050	212,186
Additions	12,750	20,833	-	33,583
At 31 March 25	38,145	201,574	6,050	245,769
Depreciation and impairment
At 01 April 24	4,726	81,181	2,309	88,216
Charge for year	4,544	22,686	935	28,165
At 31 March 25	9,270	103,867	3,244	116,381
Net book value
At 31 March 25	28,875	97,707	2,806	129,388
At 31 March 24	20,669	99,560	3,741	123,970

5.	Stocks

	2025	2024
	£	£
Work in progress	100,000	61,000
Finished goods	40,000	30,000
Total	140,000	91,000

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	86,863	90,417
Other debtors	18,949	19,945
Total	105,812	110,362

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	14,281	10,320
Bank borrowings and overdrafts	6,000	6,000
Taxation and social security	73,309	38,897
Finance lease and HP contracts	14,456	14,616
Other creditors	162,412	150,133
Accrued liabilities and deferred income	5,026	4,336
Total	275,484	224,302

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	3,303	9,303
Other creditors	19,910	34,206
Total	23,213	43,509


	Finance lease and Hire Purchase contracts amounting to £19,910 (2024 - £34,206) are included within other creditors.

9.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	32,300	30,900
Total	32,300	30,900

10.	Related party transactions
	On 01 April 2024 the company owed the directors' £150,133. During the period the directors' were repaid £19,259 and extracted a further £31,538. At 31 March 2025 the company owed the directors' £162,412. No interest was charged on this loan and the loan is repayable on demand.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		129,388		123,970
			129,388		123,970
Current assets
Stocks	5	140,000		91,000
Debtors	6	105,812		110,362
Cash at bank and on hand		298,464		197,310
		544,276		398,672
Creditors amounts falling due within one year	7	(275,484)		(224,302)
Net current assets (liabilities)			268,792		174,370
Total assets less current liabilities			398,180		298,340
Creditors amounts falling due after one year	8		(23,213)		(43,509)
Provisions for liabilities	9		(32,300)		(30,900)
Net assets			342,667		223,931
Capital and reserves
Called up share capital			115		115
Profit and loss account			342,552		223,816
Shareholders' funds			342,667		223,931