REGISTERED NUMBER: 00819827 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MACK & LAWLER BUILDERS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D P McManaman

Mrs F E McManaman

Mr I C McManaman

Mrs S M McManaman

SECRETARY:

Mrs S M McManaman

REGISTERED OFFICE:

57 Micklegate

York

YO1 6LJ

REGISTERED NUMBER:

00819827 (England and Wales)

ACCOUNTANTS:

Fortus Limited

Business Advisors & Accountants

Equinox House

Clifton Park, Shipton Road

York

YO30 5PA

FIXED ASSETS

Tangible assets

4

142,394

140,277

Investments

5

100,000

100,000

Investment property

6

3,015,000

3,015,000

3,257,394

3,255,277

CURRENT ASSETS

Stocks

7

6,673,609

6,300,336

Debtors

8

5,302,062

5,372,110

Cash at bank and in hand

1,014,184

1,510,341

12,989,855

13,182,787

CREDITORS

Amounts falling due within one year

9

558,033

587,504

NET CURRENT ASSETS

12,431,822

12,595,283

TOTAL ASSETS LESS CURRENT LIABILITIES

15,689,216

15,850,560

CREDITORS

Amounts falling due after more than one year

10

8,126

37,500

NET ASSETS

15,681,090

15,813,060

CAPITAL AND RESERVES

Called up share capital

12

10,000

10,000

Retained earnings

15,671,090

15,803,060

SHAREHOLDERS' FUNDS

15,681,090

15,813,060

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2025 and were signed on its behalf by:

Mr I C McManaman - Director

1.	STATUTORY INFORMATION

Mack & Lawler Builders 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.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from Other Sources. The estimates and associated assumptions are based on historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Turnover is recognized at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. Turnover relating to the sale of land and property is recognized when the contract for sale becomes unconditional. Non-refundable plot reservation fees are recognized when paid.

Rental Income is recognized in accordance with the period to which it relates

In respect of the long-term contracts and for on -going service. turnover represents the value of work done in the year, Including estimates of amounts not invoiced. Turnover in respect of long term contracts and contracts for ongoing services is recognized by reference to the stage of Completion.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognized at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end data. The surplus or deficit on revaluation is recognized in profit and loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.

Financial instruments

The company has elected to apply the provisions of section 11" Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS102 to all of its Financial Instruments.

Financial Instrument are recognized in the company's statement of financial Position when the company becomes party to the contractual provisions of the Instrument.

Basics Financial Assets:

Basic financial assets, which Include debtors and cash bank balances, are measured at transaction price including transaction cost. Financial assets classified as receivable within one year are not amortized.

Basic Financial Liabilities:

Basic Financial Liabilities, Including creditors are initially recognized at transaction price unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods or services that have been acquired in the Ordinary course of business from Suppliers, amounts payable are classified as current liabilities if payment is due within one year or less.

Leases

Rental payments under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed

Cash at bank in hand

Cash at Bank and in hand are basic financial assets and include cash in Hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

Equity instruments

Equity Instruments issued by the company are recorded at the proceeds received. net of transactions costs. Dividend payable on equity instruments are recognized as liabilities once they are no longer at the discretion of the company

Employee benefits

The cost of short-term employee benefits are recognized as a liability and an expense, unless those costs are required to be recognized as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognized in the period in which the employee's services are received.

Termination benefits are recognized immediately as a expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination in benefits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

3,911

118,313

57,359

201,590

381,173

Additions

-

23,996

-

19,500

43,496

Disposals

-

(33,600

)

(16,772

)

(26,400

)

(76,772

)

At 31 December 2024

3,911

108,709

40,587

194,690

347,897

DEPRECIATION

At 1 January 2024

3,910

57,877

37,155

141,954

240,896

Charge for year

-

15,400

1,573

15,971

32,944

Eliminated on disposal

-

(33,565

)

(10,950

)

(23,822

)

(68,337

)

At 31 December 2024

3,910

39,712

27,778

134,103

205,503

NET BOOK VALUE

At 31 December 2024

1

68,997

12,809

60,587

142,394

At 31 December 2023

1

60,436

20,204

59,636

140,277

5.	FIXED ASSET INVESTMENTS

Listed

investments

£

COST

At 1 January 2024

and 31 December 2024

100,000

NET BOOK VALUE

At 31 December 2024

100,000

At 31 December 2023

100,000

In 2020 the company invested £100,000 for a 2.857% equity share in Coney Street III LLP, an LLP incorporated in England and Wales whose trading activity is property development.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

3,015,000

NET BOOK VALUE

At 31 December 2024

3,015,000

At 31 December 2023

3,015,000

Investment properties with a historical cost of £3,015,911 were revalued by the directors of the company. The current fair value is considered to be £3,015,000 (2023 - £3,015,000). The valuation takes into account a number of valuation factors including the length of existing leases.

7.

STOCKS

2024

2023

£

£

Stocks

4,943,337

4,944,337

Work-in-progress

1,730,272

1,355,999

6,673,609

6,300,336

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

10,656

59,215

Other debtors

5,291,406

5,312,895

5,302,062

5,372,110

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 11)

37,500

50,000

Hire purchase contracts

8,865

-

Trade creditors

41,636

41,894

Taxation and social security

6,999

7,621

Other creditors

463,033

487,989

558,033

587,504

The bank loans are secured by a debenture and a first priority legal charge over each property held by the company.

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 11)

-

37,500

Hire purchase contracts

8,126

-

8,126

37,500

The bank loans are secured by a debenture and a first priority legal charge over each property held by the company.

11.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

37,500

50,000

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

37,500

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

10,000

Ordinary

1

10,000

10,000

13.	OPERATING LEASE COMMITMENTS

Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024

2023

£

£

100,000

140,000

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31st December 2024, the company owed £314,515 to I C McManaman (2023 - £361,521).This comprises an opening creditor balance of £361,521, the director was advanced £226,232 and repaid £179,226.The balance of £314,515 is included in other creditors.

At 31 December 2024, the company owed £1,017 to D P McManaman (2023 debtor - £189).This comprises an opening debtor balance of £189, the director was advanced £25,000 and repaid £26,206 The balance of £1,017 is included in other creditors.

15.	RELATED PARTY DISCLOSURES

The company is controlled by the directors.

The Directors of the company are also directors of Dalian Properties Ltd. At the year end the company was owed £5,112,960 (2023 - £5,143,150) by Dalian Properties Ltd in respect of loans made to the company. This is included within Other debtors.