Registration number: 14391046

McGill Joinery & Building Ltd

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 6

McGill Joinery & Building Ltd

(Registration number: 14391046)
Balance Sheet as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	32,706	6,562
Current assets
Debtors	5	18,569	14,226
Cash at bank and in hand		60,695	62,354
		79,264	76,580
Creditors: Amounts falling due within one year	6	(50,960)	(46,155)
Net current assets		28,304	30,425
Total assets less current liabilities		61,010	36,987
Creditors: Amounts falling due after more than one year	6	(22,680)	-
Provisions for liabilities		(6,213)	(1,246)
Net assets		32,117	35,741
Capital and reserves
Called up share capital	7	1	1
Retained earnings		32,116	35,740
Shareholders' funds		32,117	35,741

For the financial year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 July 2026
 

......................................... Mr M McGill Director

McGill Joinery & Building Ltd

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

1	General information

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

The address of its registered office is:
20 Cottam Green
Cottam
Preston
PR4 0AB

These financial statements were authorised for issue by the director on 17 July 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 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 taxable income.

McGill Joinery & Building Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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 balance sheet 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	15% per annum reducing balance basis
Motor vehicles	25% per annum reducing balance basis
Plant and machinery	15% per annum reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

McGill Joinery & Building Ltd

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

McGill Joinery & Building Ltd

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

4	Tangible assets

	Office equipment  £	Motor vehicles  £	Plant and machinery £	Total £
Cost
At 1 November 2024	300	8,200	2,233	10,733
Additions	-	36,350	-	36,350
Disposals	-	(8,200)	-	(8,200)
At 31 October 2025	300	36,350	2,233	38,883
Depreciation
At 1 November 2024	83	3,588	500	4,171
Charge for the year	33	5,301	260	5,594
Eliminated on disposal	-	(3,588)	-	(3,588)
At 31 October 2025	116	5,301	760	6,177
Carrying amount
At 31 October 2025	184	31,049	1,473	32,706
At 31 October 2024	217	4,612	1,733	6,562

5

Debtors

	2025 £	2024 £
Trade debtors	11,285	7,565
Other debtors	6,725	6,661
Prepayments	559	-
	18,569	14,226

6

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	44,790	31,319
Trade creditors		2,794	2,105
Taxation and social security		64	9,419
Accruals and deferred income		3,312	3,312
		50,960	46,155

McGill Joinery & Building Ltd

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

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	22,680	-

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	1	1	1	1

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Hire purchase contracts	22,680	-

Current loans and borrowings

	2025 £	2024 £
Hire purchase contracts	4,299	-
Other borrowings	40,491	31,319
	44,790	31,319