McKenzie Design & Build Limited 30/09/2018 iXBRL

McKenzie Design & Build Limited 30/09/2018 iXBRL

MCKENZIE DESIGN & BUILD LTD - Company Information

Print Friendly Version

30/09/2018 2018-09-30 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2017-10-01 Sage Accounts Production 18.30 Update 1 - FRS xbrli:pure xbrli:shares iso4217:GBP 07775451 2017-10-01 2018-09-30 07775451 2018-09-30 07775451 2017-09-30 07775451 2016-10-01 2017-09-30 07775451 2017-09-30 07775451 2016-09-30 07775451 core:MotorVehicles 2017-10-01 2018-09-30 07775451 bus:RegisteredOffice 2017-10-01 2018-09-30 07775451 bus:LeadAgentIfApplicable 2017-10-01 2018-09-30 07775451 bus:Director1 2017-10-01 2018-09-30 07775451 bus:Director2 2017-10-01 2018-09-30 07775451 core:MotorVehicles 2017-09-30 07775451 core:MotorVehicles 2018-09-30 07775451 core:WithinOneYear 2018-09-30 07775451 core:WithinOneYear 2017-09-30 07775451 core:ShareCapital 2018-09-30 07775451 core:ShareCapital 2017-09-30 07775451 core:RetainedEarningsAccumulatedLosses 2018-09-30 07775451 core:RetainedEarningsAccumulatedLosses 2017-09-30 07775451 core:MotorVehicles 2017-09-30 07775451 bus:Director1 2017-09-30 07775451 bus:Director1 2018-09-30 07775451 bus:Director2 2017-09-30 07775451 bus:Director2 2018-09-30 07775451 bus:Director1 2016-09-30 07775451 bus:Director1 2017-09-30 07775451 bus:Director2 2016-09-30 07775451 bus:Director2 2017-09-30 07775451 bus:Director1 2016-10-01 2017-09-30 07775451 bus:Director2 2016-10-01 2017-09-30 07775451 bus:SmallEntities 2017-10-01 2018-09-30 07775451 bus:AuditExemptWithAccountantsReport 2017-10-01 2018-09-30 07775451 bus:FullAccounts 2017-10-01 2018-09-30 07775451 bus:SmallCompaniesRegimeForAccounts 2017-10-01 2018-09-30 07775451 bus:PrivateLimitedCompanyLtd 2017-10-01 2018-09-30
Company registration number: 07775451
McKenzie Design & Build Limited
Unaudited filleted financial statements
30 September 2018
McKenzie Design & Build Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
McKenzie Design & Build Limited
Directors and other information
Directors Mr David St George McKenzie
Mr Martin St George McKenzie
Company number 07775451
Registered office 6 Fir Tree Close
Hemel Hempstead
Herts
HP3 8NG
Business address 6 Fir Tree Close
Hemel Hempstead
Herts
HP3 8NG
Accountants Hicks and Company
83 High Street
Hemel Hempstead
Herts
HP1 3AH
McKenzie Design & Build Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of McKenzie Design & Build Limited
Year ended 30 September 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of McKenzie Design & Build Limited for the year ended 30 September 2018 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, 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 McKenzie Design & Build Limited, 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 McKenzie Design & Build Limited and state those matters that we have agreed to state to the board of directors of McKenzie Design & Build Limited as a body, in this report in accordance with the ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than McKenzie Design & Build Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that McKenzie Design & Build Limited 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 profit of McKenzie Design & Build Limited. You consider that McKenzie Design & Build Limited 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 McKenzie Design & Build Limited. 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.
Hicks and Company
Chartered Accountants
83 High Street
Hemel Hempstead
Herts
HP1 3AH
8 March 2019
McKenzie Design & Build Limited
Statement of financial position
30 September 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 5 7,329 12,002
_______ _______
7,329 12,002
Current assets
Debtors 6 58,799 48,094
Cash at bank and in hand 84,170 43,050
_______ _______
142,969 91,144
Creditors: amounts falling due
within one year 7 ( 55,997) ( 57,821)
_______ _______
Net current assets 86,972 33,323
_______ _______
Total assets less current liabilities 94,301 45,325
_______ _______
Net assets 94,301 45,325
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 94,299 45,323
_______ _______
Shareholders funds 94,301 45,325
_______ _______
For the year ending 30 September 2018 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 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 08 March 2019 , and are signed on behalf of the board by:
Mr David St George McKenzie Mr Martin St George McKenzie
Director Director
Company registration number: 07775451
McKenzie Design & Build Limited
Notes to the financial statements
Year ended 30 September 2018
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 6 Fir Tree Close, Hemel Hempstead, Herts, HP3 8NG.
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.
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.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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:
Motor vehicles - 25 % 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.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).
5. Tangible assets
Motor vehicles Total
£ £
Cost
At 1 October 2017 and 30 September 2018 18,693 18,693
_______ _______
Depreciation
At 1 October 2017 6,691 6,691
Charge for the year 4,673 4,673
_______ _______
At 30 September 2018 11,364 11,364
_______ _______
Carrying amount
At 30 September 2018 7,329 7,329
_______ _______
At 30 September 2017 12,002 12,002
_______ _______
6. Debtors
2018 2017
£ £
Trade debtors 12,630 21,000
Other debtors 46,169 27,094
_______ _______
58,799 48,094
_______ _______
7. Creditors: amounts falling due within one year
2018 2017
£ £
Corporation tax 38,909 34,578
Social security and other taxes 9,552 13,177
Other creditors 7,536 10,066
_______ _______
55,997 57,821
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2018
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr David St George McKenzie ( 1,537) ( 214) ( 1,751)
Mr Martin St George McKenzie ( 1,213) 10 ( 1,203)
_______ _______ _______
( 2,750) ( 204) ( 2,954)
_______ _______ _______
2017
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr David St George McKenzie ( 727) ( 810) ( 1,537)
Mr Martin St George McKenzie ( 402) ( 810) (1,212)
_______ _______ _______
( 1,129) ( 1,620) (2,749)
_______ _______ _______