ACCOUNTS - Final Accounts preparation

Commitments under operating leases

At 31 October 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Company registration number: 05455906

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 OCTOBER 2024

	PRODDOW MACKAY LIMITED


PRODDOW MACKAY LIMITED

CONTENTS

	Page
Company information	1
Statement of financial position	2
Notes to the financial statements	3 - 5


PRODDOW MACKAY LIMITED

COMPANY INFORMATION

Directors	R J Helsby
	D J Mackay
	R S Mackay


Company secretary	J H Bostock


Registered number	05455906


Registered office	250 Shepcote Lane
	Sheffield
	South Yorkshire
	S9 1TP


Accountants	Menzies LLP
	Chartered Accountants
	2nd Floor, Midas House
	62 Goldsworth Road
	Woking
	Surrey
	GU21 6LQ

Page 1


PRODDOW MACKAY LIMITED REGISTERED NUMBER:05455906

STATEMENT OF FINANCIAL POSITION

AS AT 31 OCTOBER 2024

		2024		2023
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	754,759		705,994
		754,759		705,994
Creditors: amounts falling due within one year	5	(540,735)		(501,844)
Net current assets			214,024		204,150
Total assets less current liabilities			214,024		204,150

Net assets			214,024		204,150

Capital and reserves
Called up share capital	1,000	1,000
Profit and loss account	213,024	203,150
	214,024	204,150

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

D J Mackay

Director

Date: 5 October 2025

The notes on pages 3 to 5 form part of these financial statements.

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PRODDOW MACKAY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

1.	General information

Proddow Mackay Limited is a private company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the principal place of business is the same as the company's registered office disclosed on the company information page.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetaryamounts in these financial statements are rounded to the nearest £.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

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PRODDOW MACKAY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

2.5

Pensions

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.7

Financial instruments

The Company only 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.

Employees

The average monthly number of employees, including directors, during the year was 46 (2023 - 39).

Debtors

					2024	2023
					£	£


Trade debtors	139,932	153,160
Other debtors	410,216	410,216
Amounts recoverable on contracts	204,611	142,618
	754,759	705,994

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PRODDOW MACKAY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

5.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Bank overdrafts	6,772	2,172
Corporation tax	10,340	12,912
Other taxation and social security	18,833	16,871
Other creditors	499,840	464,939
Accruals and deferred income	4,950	4,950
	540,735	501,844

Bank borrowing and overdrafts are secured by a fixed and floating charge on the assets of the company.

6.	Contingent liabilities

The company is part of a VAT group in which all members are jointly and severally liable for any VAT the group owes to HMRC. At 31 October 2024 the overall liability held by the associated company Proddow Mackay Solicitors LLP totals £1,435,017 (2023 - £1,086,681)

Not later than 1 year	23,005	34,216
Later than 1 year and not later than 5 years	11,591	34,594
	34,596	68,810

Description of nature of transactions and balances with related parties

At the year end date, Proddow Mackay Limited ("The company") had the following transactions:
The company owed £495,132 to Proddow Mackay Solicitors LLP (2023 - £464,939). The loan is interest free and is repayable on demand. The entity is under common control.
The company was owed £410,216 by PM Law Limited (2023 - £410,216). The loan is interest free and is repayable on demand. The entity is under common control.
An inter-company guarantee exists between PM Law Limited, Proddow Mackay Limited and Proddow Mackay (Conveyancing) Limited in favour of Yorkshire Bank Plc.

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