Mackman Ltd 31/12/2024 iXBRL

Company registration number: 04987877

(England and Wales)

Mackman Ltd

Unaudited filleted financial statements

for the year ended

31 December 2024

Mackman Ltd

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Mackman Ltd

Directors and other information


	Directors	P. Mackman
		G. Mackman


	Secretary	P Mackman


	Company number	04987877


	Registered office	Meadow House
		1 Meadow Ln
		Sudbury
		Suffolk
		CO10 2TD


	Business address	Meadow House
		1 Meadow Ln
		Sudbury
		Suffolk
		CO10 2TD


	Accountants	Griffin Chapman
		4 & 5 The Cedars
		Apex 12, Old Ipswich Road
		Colchester
		CO7 7QR

Mackman Ltd

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Mackman Ltd

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mackman Ltd for the year ended 31 December 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of Mackman Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Mackman Ltd and state those matters that we have agreed to state to the board of directors of Mackman Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mackman Ltd and its board of directors as a body for our work or for this report.

It is your duty to ensure that Mackman Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Mackman Ltd. You consider that Mackman Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mackman Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Griffin Chapman

Chartered accountants

4 & 5 The Cedars

Apex 12, Old Ipswich Road

Colchester

CO7 7QR

9 October 2025

Mackman Ltd

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	6	59,757		83,626
Investments	7	49		49
		_______		_______
			59,806		83,675

Current assets
Debtors	8	49,090		39,181
Cash at bank and in hand		4,375		143,350
		_______		_______
		53,465		182,531
Creditors: amounts falling due
within one year	9	( 130,692)		( 117,201)
		_______		_______
Net current (liabilities)/assets			( 77,227)		65,330
			_______		_______
Total assets less current liabilities			( 17,421)		149,005

Creditors: amounts falling due
after more than one year	10		( 32,929)		( 83,230)

Provisions for liabilities			-		( 17,320)

			_______		_______
Net (liabilities)/assets			( 50,350)		48,455
			_______		_______

Capital and reserves
Called up share capital			2		2
Profit and loss account			( 50,352)		48,453
			_______		_______
Shareholders (deficit)/funds			( 50,350)		48,455
			_______		_______

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.

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 income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 07 October 2025 , and are signed on behalf of the board by:

P. Mackman G. Mackman

Director Director

Company registration number: 04987877

Mackman 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 Meadow House, 1 Meadow Ln, Sudbury, Suffolk, CO10 2TD.

The principal activity of the company continues to be that of marketing research and design.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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 company has net liabilities of £50,350 at the year end. The working capital is provided by bank loans and overdrafts and by trade and other creditors.On this basis the directors consider it appropriate to prepare the financial statements on the going concern basis. Should this prove to be inappropriate the accounts would require adjustments to be made to reduce the value of the assets to their recoverable amounts and to provide for any further liabilities that might arise.

Turnover

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.

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

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


Fittings fixtures and equipment	-	20 %	straight line
Motor vehicles	-	20 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

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

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Other operating income

	2024	2023
	£	£
Government grant income	-	10,150
Other operating income	500	-
	_______	_______
	500	10,150
	_______	_______

Government grants include those received last year from Growth Through Innovation Fund and from Babergh District Council through the Business Innovation Support.Other operating income this year is from the Colchester Institute Youth Opportunity Funding.

5. Employee numbers

The average number of persons employed by the company during the year amounted to 12 (2023: 15 ).

6. Tangible assets

	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£
Cost
At 1 January 2024	74,380	80,619	154,999
Additions	109	-	109
	_______	_______	_______
At 31 December 2024	74,489	80,619	155,108
	_______	_______	_______
Depreciation
At 1 January 2024	53,905	17,468	71,373
Charge for the year	7,854	16,124	23,978
	_______	_______	_______
At 31 December 2024	61,759	33,592	95,351
	_______	_______	_______
Carrying amount
At 31 December 2024	12,730	47,027	59,757
	_______	_______	_______
At 31 December 2023	20,475	63,151	83,626
	_______	_______	_______

7. Investments

	Shares in group undertakings and participating interests	Total
	£	£
Cost
At 1 January 2024 and 31 December 2024	49	49
	_______	_______
Impairment
At 1 January 2024 and 31 December 2024	-	-
	_______	_______
Carrying amount
At 31 December 2024	49	49
	_______	_______
At 31 December 2023	49	49
	_______	_______

8. Debtors

	2024	2023
	£	£
Trade debtors	44,539	32,630
Other debtors	4,551	6,551
	_______	_______
	49,090	39,181
	_______	_______

9. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	46,331	38,395
Trade creditors	3,478	14,178
Taxation and social security	48,938	42,756
Other creditors	31,945	21,872
	_______	_______
	130,692	117,201
	_______	_______

The company have a Business Interruption Loan supported by the UK government. Payments of interest for the loan were covered by the UK Government for the first 12 months. The interest rate is 9.50% p.a. Capital repayments commenced in November 2021, over a term of 48 months.

10. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans	-	34,892
Other creditors	32,929	48,338
	_______	_______
	32,929	83,230
	_______	_______

The hire purchase agreement is secured by the asset it funded.

11. Other financial commitments

The total amount of operating lease commitment as at the year end was £ 3,713 .