REGISTERED NUMBER: 00880391 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

P. Mcguinness and Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P G Mcguinness

SECRETARY:

Mrs J L Mcguinness

REGISTERED OFFICE:

Rondin House

Rondin Road Ardwick

Manchester

M12 6BF

REGISTERED NUMBER:

00880391 (England and Wales)

ACCOUNTANTS:

Freedman Frankl & Taylor

Chartered Accountants

Reedham House

31 King Street West

Manchester

M3 2PJ

FIXED ASSETS

Tangible assets

4

715,788

760,600

CURRENT ASSETS

Debtors

5

378,206

559,192

Cash at bank and in hand

270,070

91,753

648,276

650,945

CREDITORS

Amounts falling due within one year

6

(223,635

)

(300,742

)

NET CURRENT ASSETS

424,641

350,203

TOTAL ASSETS LESS CURRENT LIABILITIES

1,140,429

1,110,803

CREDITORS

Amounts falling due after more than one year

7

(225,832

)

(239,751

)

PROVISIONS FOR LIABILITIES

-

(94,467

)

NET ASSETS

914,597

776,585

CAPITAL AND RESERVES

Called up share capital

100

100

Capital redemption reserve

900

900

Retained earnings

913,597

775,585

914,597

776,585

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 May 2026 and were signed by:

P G Mcguinness - Director

1.	STATUTORY INFORMATION

P. Mcguinness and Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are recorded at cost less accumulated depreciation and accumulated impairment losses.

Government grants

Grant of a revenue nature are credited to Income in the period to which they relate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2024 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2024

and 31 March 2025

517,044

884,843

3,150

282,179

1,687,216

DEPRECIATION

At 1 April 2024

-

689,940

2,472

234,204

926,616

Charge for year

10,341

18,308

170

15,993

44,812

At 31 March 2025

10,341

708,248

2,642

250,197

971,428

NET BOOK VALUE

At 31 March 2025

506,703

176,595

508

31,982

715,788

At 31 March 2024

517,044

194,903

678

47,975

760,600

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2024

and 31 March 2025

69,000

DEPRECIATION

At 1 April 2024

21,025

Charge for year

15,993

At 31 March 2025

37,018

NET BOOK VALUE

At 31 March 2025

31,982

At 31 March 2024

47,975

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

168,406

197,087

Other debtors

209,800

362,105

378,206

559,192

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

8,333

8,333

Hire purchase contracts

22,066

34,319

Trade creditors

120,529

221,057

Taxation and social security

24,134

13,795

Other creditors

48,573

23,238

223,635

300,742

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

11,806

20,139

Other creditors

214,026

219,612

225,832

239,751

8.	RELATED PARTY DISCLOSURES

Other creditors include director's current account balance of £524 (2024: £nil). There are no fixed repayment terms and no interest is chargeable to the company in respect of this balance.

Included within other creditors is a balance amounting to £197,985 (2024: £194,820) due to a pension scheme in which certain directors of the company are trustees and beneficiaries. Interest amounting to £3,165 (2024: £3,173) was charged to the company in respect of this balance.