David McCarty Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03052267 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

DAVID MCCARTY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

D P McCarty

P D McCarty

C E Yeabsley

SECRETARY:

M E McCarty

REGISTERED OFFICE:

4 Devonshire Business Park

Chester Road

Borehamwood

Hertfordshire

WD6 1NA

REGISTERED NUMBER:

03052267 (England and Wales)

FIXED ASSETS

Tangible assets

4

74,458

91,163

CURRENT ASSETS

Stocks

58,000

233,000

Debtors

5

418,594

339,767

Cash at bank and in hand

171,600

1,259,875

648,194

1,832,642

CREDITORS

Amounts falling due within one year

6

699,050

1,103,504

NET CURRENT (LIABILITIES)/ASSETS

(50,856

)

729,138

TOTAL ASSETS LESS CURRENT LIABILITIES

23,602

820,301

CREDITORS

Amounts falling due after more than one year

7

-

785,375

NET ASSETS

23,602

34,926

CAPITAL AND RESERVES

Called up share capital

8

300

300

Retained earnings

23,302

34,626

SHAREHOLDERS' FUNDS

23,602

34,926

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 January 2020 and were signed on its behalf by:

P D McCarty - Director

1.	STATUTORY INFORMATION

David McCarty 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.

Short leasehold

-

10% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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 5 (2018 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2018

and 31 March 2019

28,722

161,769

16,058

20,312

226,861

DEPRECIATION

At 1 April 2018

27,827

73,811

15,391

18,669

135,698

Charge for year

89

15,248

116

1,252

16,705

At 31 March 2019

27,916

89,059

15,507

19,921

152,403

NET BOOK VALUE

At 31 March 2019

806

72,710

551

391

74,458

At 31 March 2018

895

87,958

667

1,643

91,163

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

212,615

26,113

Other debtors

10,000

310,080

VAT

173,379

-

Prepayments and accrued income

22,600

3,574

418,594

339,767

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

490,531

470,535

Corporation tax

26,331

8,083

Social security and other taxes

4,721

4,919

VAT

-

181,401

Other creditors

50,012

15,345

Directors' loan accounts

1,866

14,946

Accruals and deferred income

125,589

408,275

699,050

1,103,504

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

-

785,375

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary A

£1

100

100

100

Ordinary B

£1

100

100

100

Ordinary C

£1

100

100

300

300

Holders of Ordinary A, B and C shares rank pari passu with regard to entitlement to dividend, except that the

directors may at any time resolve to declare either dividend payments of different amounts payable on each

class of share or a dividend payable on one class of share to the exclusion of the other classes of shares.

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £91,147 were paid to the directors .