Macclesfield Bearings Limited - Filleted accounts

Macclesfield Bearings Limited
Registered number:		02086839
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		114,960			119,727

Current assets
Stocks		20,000			20,000
Debtors	4	94,135			106,493
Cash at bank and in hand		5,311			9,287
		119,446			135,780

Creditors: amounts falling due within one year	5	(179,280)			(173,558)

Net current liabilities			(59,834)			(37,778)

Total assets less current liabilities			55,126			81,949

Creditors: amounts falling due after more than one year	6		(103,092)			(106,524)

Provisions for liabilities			(751)			(397)


Net liabilities			(48,717)			(24,972)

Capital and reserves
Called up share capital			60			60
Profit and loss account			(48,777)			(25,032)

Shareholders' funds			(48,717)			(24,972)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




T Walters
Director
Approved by the board on 29 September 2025

Macclesfield Bearings Limited
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	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 from 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			over 50 years
	Plant and machinery			15% reducing balance
	Motor vehicles			25% reduciing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.




2	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					4		4


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 January 2024	130,000		23,144		18,650		171,794
	At 31 December 2024	130,000		23,144		18,650		171,794

	Depreciation
	At 1 January 2024	20,800		18,493		12,774		52,067
	Charge for the year	2,600		698		1,469		4,767
	At 31 December 2024	23,400		19,191		14,243		56,834

	Net book value
	At 31 December 2024	106,600		3,953		4,407		114,960
	At 31 December 2023	109,200		4,651		5,876		119,727


4	Debtors					2024		2023
£							£

	Trade debtors					80,801		93,343
	Other debtors					13,334		13,150
						94,135		106,493


5	Creditors: amounts falling due within one year					2024		2023
£							£

	Bank loans and overdrafts					2,500		1,500
	Trade creditors					153,250		144,974
	Corporation tax					17,264		16,177
	Other taxes and social security costs					2,626		8,117
	Other creditors					3,640		2,790
						179,280		173,558


6	Creditors: amounts falling due after one year					2024		2023
£							£

	Bank loans					103,092		106,524



7	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	T Walters
	Loan	5,979		184		-		6,163

	A Walters
	Loan	539		-		-		539

	J T Walters
	Loan	127		-		-		127

	J S Walters
	Loan	4,517		-		-		4,517

		11,162		184		-		11,346


8	Other information

	Macclesfield Bearings Limited is a private company limited by shares and incorporated in England. Its registered office is:
	23 Park Lane
	Macclesfield
	Cheshire
	SK11 6TJ