4 4 P McGarry & Son Limited 01418746 false 2024-06-01 2025-05-31 2025-05-31 The principal activity of the company is that of vehicle hire and motor vehicle repairs Digita Accounts Production Advanced 6.30.9574.0 true 01418746 2024-06-01 2025-05-31 01418746 2025-05-31 01418746 core:RetainedEarningsAccumulatedLosses 2025-05-31 01418746 core:ShareCapital 2025-05-31 01418746 core:CurrentFinancialInstruments 2025-05-31 01418746 core:CurrentFinancialInstruments core:WithinOneYear 2025-05-31 01418746 core:FurnitureFittings 2025-05-31 01418746 core:LandBuildings core:OwnedOrFreeholdAssets 2025-05-31 01418746 core:MotorVehicles 2025-05-31 01418746 bus:SmallEntities 2024-06-01 2025-05-31 01418746 bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 01418746 bus:FilletedAccounts 2024-06-01 2025-05-31 01418746 bus:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 01418746 bus:RegisteredOffice 2024-06-01 2025-05-31 01418746 bus:Director2 2024-06-01 2025-05-31 01418746 bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 01418746 core:FurnitureFittings 2024-06-01 2025-05-31 01418746 core:LandBuildings 2024-06-01 2025-05-31 01418746 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-01 2025-05-31 01418746 core:MotorVehicles 2024-06-01 2025-05-31 01418746 core:PlantMachinery 2024-06-01 2025-05-31 01418746 countries:AllCountries 2024-06-01 2025-05-31 01418746 2024-05-31 01418746 core:FurnitureFittings 2024-05-31 01418746 core:LandBuildings core:OwnedOrFreeholdAssets 2024-05-31 01418746 core:MotorVehicles 2024-05-31 01418746 2023-06-01 2024-05-31 01418746 2024-05-31 01418746 core:RetainedEarningsAccumulatedLosses 2024-05-31 01418746 core:ShareCapital 2024-05-31 01418746 core:CurrentFinancialInstruments 2024-05-31 01418746 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 01418746 core:FurnitureFittings 2024-05-31 01418746 core:LandBuildings core:OwnedOrFreeholdAssets 2024-05-31 01418746 core:MotorVehicles 2024-05-31 xbrli:pure iso4217:GBP

Registration number: 01418746

P McGarry & Son Limited
Unaudited Financial Statements
for the Year Ended 31 May 2025

P McGarry & Son Limited

Contents

Statement of Financial Position | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 6

P McGarry & Son Limited

(Registration number: 01418746)
Statement of Financial Position as at 31 May 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 153,351 | 180,201
Current assets |  |  |
Stocks | 5 | 2,500 | 2,500
Debtors | 6 | 73,357 | 47,724
Cash at bank and in hand |  | 2,174,288 | 2,013,376
|  | 2,250,145 | 2,063,600
Creditors: Amounts falling due within one year | 7 | (124,092) | (133,946)
Net current assets |  | 2,126,053 | 1,929,654
Total assets less current liabilities |  | 2,279,404 | 2,109,855
Provisions for liabilities |  | (29,574) | (40,050)
Net assets |  | 2,249,830 | 2,069,805
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | 2,249,730 | 2,069,705
Shareholders' funds |  | 2,249,830 | 2,069,805

For the financial year ending 31 May 2025 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

P McGarry & Son Limited

(Registration number: 01418746)
Statement of Financial Position as at 31 May 2025

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 13 February 2026 and signed on its behalf by:

......................................... P E McGarry Director

P McGarry & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

1 | General information

The company is a private company limited by share capital, incorporated in England .

The address of its registered office is:
11 Collop Drive
Heywood
Lancashire
OL10 2LS

These financial statements were authorised for issue by the Board on 13 February 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
It is probable that future economic benefits will flow to the entity; and
Specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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 taxable income.

P McGarry & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Freehold Land & Buildings | 2% straight line
Plant & Machinery | 20% reducing balance
Motor Vehicles | 25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

P McGarry & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

4 | Tangible assets

| Land and buildings £ | Plant and machinery £ | Motor vehicles £ | Total £
Cost or valuation
At 1 June 2024 | 76,531 | 4,451 | 762,083 | 843,065
Additions | - | - | 20,718 | 20,718
Disposals | - | - | (26,503) | (26,503)
At 31 May 2025 | 76,531 | 4,451 | 756,298 | 837,280
Depreciation
At 1 June 2024 | 54,523 | 3,203 | 605,138 | 662,864
Charge for the year | 1,531 | 250 | 43,966 | 45,747
Eliminated on disposal | - | - | (24,682) | (24,682)
At 31 May 2025 | 56,054 | 3,453 | 624,422 | 683,929
Carrying amount
At 31 May 2025 | 20,477 | 998 | 131,876 | 153,351
At 31 May 2024 | 22,008 | 1,248 | 156,945 | 180,201

Included within the net book value of land and buildings above is £20,477 (2024 - £22,008) in respect of freehold land and buildings.

5 | Stocks

| 2025 £ | 2024 £
Other inventories | 2,500 | 2,500

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 56,986 | 29,123
Amounts owed by related parties | 2,011 | 2,651
Prepayments | 14,360 | 15,950
| 73,357 | 47,724

P McGarry & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

7 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 6,213 | 7,255
Taxation and social security | 89,034 | 109,444
Accruals and deferred income | 4,480 | 4,892
Other creditors | 24,365 | 12,355
| 124,092 | 133,946