Mac Design and Build Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05221418

Mac Design and Build Ltd

Filleted Unaudited Financial Statements

31 December 2024

Mac Design and Build Ltd

Financial Statements

Year ended 31 December 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Mac Design and Build Ltd

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	5		–		13

Current assets

Stocks		1,014,573	1,639,115
Debtors	6	1,538,084	1,258,950
Cash at bank and in hand		4,065	4,197
		------------	------------
		2,556,722	2,902,262

Creditors: amounts falling due within one year	7	2,733,597		2,897,840
		------------		------------
Net current (liabilities)/assets			( 176,875)		4,422
			---------		-------
Total assets less current liabilities			( 176,875)		4,435
			---------		-------
Net (liabilities)/assets			( 176,875)		4,435
			---------		-------

Capital and reserves

Called up share capital	8	4	4
Share premium account		6,799	6,799
Profit and loss account		( 183,678)	( 2,368)
		---------	-------
Shareholders (deficit)/funds		( 176,875)	4,435
		---------	-------

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.

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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Mac Design and Build Ltd

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 25 September 2025 , and are signed on behalf of the board by:

Mr F J Macfarlane

Director

Company registration number: 05221418

Mac Design and Build Ltd

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

Going concern

The financial statements have been prepared on a going concern basis which is dependent upon the continued support of the directors. The directors have indicated their willingness to support the company in the foreseeable future by ensuring sufficient funds are available for the company to continue trading. Therefore the directors consider the going concern basis is appropriate.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

Fixtures and fittings	-	20% straight line
Equipment	-	25% straight line

Stocks and work in progress

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. Profit is recognised when there is a reliable estimate for the profit to be calculated.

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 January 2024 and 31 December 2024	2,500	4,027	6,527
	-------	-------	-------
Depreciation
At 1 January 2024	2,500	4,014	6,514
Charge for the year	–	13	13
	-------	-------	-------
At 31 December 2024	2,500	4,027	6,527
	-------	-------	-------
Carrying amount
At 31 December 2024	–	–	–
	-------	-------	-------
At 31 December 2023	–	13	13
	-------	-------	-------

6. Debtors

	2024	2023
	£	£
Amounts owed by group and/or related undertakings	1,473,417	1,204,027
Other debtors	64,667	54,923
	------------	------------
	1,538,084	1,258,950
	------------	------------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	3,864	–
Amounts owed to group and/or related undertakings	170,584	45,650
Accruals and deferred income	10,853	10,138
Social security and other taxes	1,955	2,086
Director loan accounts	2,546,341	2,839,966
	------------	------------
	2,733,597	2,897,840
	------------	------------

8. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
A Ordinary shares of £ 1 each	3	3	3	3
B Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----
	4	4	4	4
	----	----	----	----

9. Related party transactions

At the balance sheet date the company owed the directors of the company £2,546,341 (2023: £2,839,966) by way of a directors loan account. This loan, which is shown amongst creditors, is interest free and repayable on demand. At the balance sheet date the company was owed £1,473,417 (2023: £1,204,027) from group and related undertakings, which is shown amongst debtors. At the balance sheet date the company owed £170,584 (2023: £45,650) to group and related undertakings, which is shown amongst creditors.

10. Controlling party

The ultimate parent undertaking is Mac Design Holdings Ltd, a company incorporated in England and Wales. The registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.