MCL Packaging Limited Filleted accounts for Companies House (small and micro)

MCL PACKAGING LIMITED - Company Information

1 false false false false false false false false false true false false false false false false false No description of principal activity 2018-12-01 Sage Accounts Production Advanced 2020 - FRS102_2014 xbrli:pure xbrli:shares iso4217:GBP 04963507 2018-12-01 2019-11-30 04963507 2019-11-30 04963507 2018-11-30 04963507 2017-12-01 2018-11-30 04963507 2018-11-30 04963507 core:PlantMachinery 2018-12-01 2019-11-30 04963507 core:FurnitureFittings 2018-12-01 2019-11-30 04963507 core:MotorVehicles 2018-12-01 2019-11-30 04963507 bus:Director1 2018-12-01 2019-11-30 04963507 core:WithinOneYear 2019-11-30 04963507 core:WithinOneYear 2018-11-30 04963507 core:PlantMachinery 2018-11-30 04963507 core:FurnitureFittings 2018-11-30 04963507 core:MotorVehicles 2018-11-30 04963507 core:PlantMachinery 2019-11-30 04963507 core:FurnitureFittings 2019-11-30 04963507 core:MotorVehicles 2019-11-30 04963507 core:AfterOneYear 2019-11-30 04963507 core:AfterOneYear 2018-11-30 04963507 core:ShareCapital 2019-11-30 04963507 core:ShareCapital 2018-11-30 04963507 core:RetainedEarningsAccumulatedLosses 2019-11-30 04963507 core:RetainedEarningsAccumulatedLosses 2018-11-30 04963507 core:PlantMachinery 2018-11-30 04963507 core:FurnitureFittings 2018-11-30 04963507 core:MotorVehicles 2018-11-30 04963507 bus:SmallEntities 2018-12-01 2019-11-30 04963507 bus:AuditExemptWithAccountantsReport 2018-12-01 2019-11-30 04963507 bus:FullAccounts 2018-12-01 2019-11-30 04963507 bus:SmallCompaniesRegimeForAccounts 2018-12-01 2019-11-30 04963507 bus:PrivateLimitedCompanyLtd 2018-12-01 2019-11-30 04963507 core:KeyManagementPersonnel 2019-11-30 04963507 core:KeyManagementPersonnel 2018-11-30 04963507 core:OfficeEquipment 2018-12-01 2019-11-30 04963507 core:OfficeEquipment 2019-11-30 04963507 core:OfficeEquipment 2018-11-30 04963507 core:AfterOneYear 2018-12-01 2019-11-30 04963507 core:KeyManagementPersonnel 2018-12-01 2019-11-30

COMPANY REGISTRATION NUMBER: 04963507

MCL Packaging Limited

Filleted Unaudited Financial Statements

For the year ended

30 November 2019

MCL Packaging Limited

Statement of Financial Position

30 November 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	5		16,462	21,548

Current assets

Stocks		990	17,549
Debtors	6	88,414	68,415
Cash at bank and in hand		150,900	144,242
		----------	----------
		240,304	230,206

Creditors: amounts falling due within one year	7	105,503		96,900
		----------		----------
Net current assets			134,801	133,306
			----------	----------
Total assets less current liabilities			151,263	154,854

Creditors: amounts falling due after more than one year	8		12,875	17,197

Provisions

Taxation including deferred tax	2,799	3,663
	----------	----------
Net assets	135,589	133,994
	----------	----------

Capital and reserves

Called up share capital	1	1
Profit and loss account	135,588	133,993
	----------	----------
Shareholder funds	135,589	133,994
	----------	----------

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.

For the year ending 30 November 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

MCL Packaging Limited

Statement of Financial Position (continued)

30 November 2019

These financial statements were approved by the board of directors and authorised for issue on 16 July 2020 , and are signed on behalf of the board by:

M C Lang
Director

Company registration number: 04963507

MCL Packaging Limited

Notes to the Financial Statements

Year ended 30 November 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 2 Howard Street, Bolton, BL1 8HS.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. (b) Revenue recognition 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. (c) Current & deferred tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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. (d) Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. (e) 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:

Plant & Machinery	-	20% reducing balance
Fixture and Fittings	-	15% reducing balance
Motor Vehicles	-	25% reducing balance
Computer Equipment	-	15% reducing balance

(f) Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. (g) Finance leases and hire purchase contracts Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability. (h) Financial instruments Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

(i) Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2018: 1 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 December 2018 and 30 November 2019	5,500	1,312	22,371	2,132	31,315
	-------	-------	--------	-------	--------
Depreciation
At 1 December 2018	1,980	651	5,591	1,545	9,767
Charge for the year	704	99	4,195	88	5,086
	-------	-------	--------	-------	--------
At 30 November 2019	2,684	750	9,786	1,633	14,853
	-------	-------	--------	-------	--------
Carrying amount
At 30 November 2019	2,816	562	12,585	499	16,462
	-------	-------	--------	-------	--------
At 30 November 2018	3,520	661	16,780	587	21,548
	-------	-------	--------	-------	--------

6. Debtors

	2019	2018
	£	£
Trade debtors	88,372	68,119
Other debtors	42	296
	--------	--------
	88,414	68,415
	--------	--------

7. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	61,769	62,188
Accruals	7,400	8,650
Corporation tax	12,575	14,676
Social security and other taxes	8,977	3,360
Obligations under finance leases and hire purchase contracts	4,321	5,533
Directors current account	10,461	2,493
	----------	--------
	105,503	96,900
	----------	--------

The hire purchase liabilities noted above are secured on the associated asset.

8. Creditors: amounts falling due after more than one year

	2019	2018
	£	£
Obligations under finance leases and hire purchase contracts	12,875	17,197
	--------	--------

The hire purchase liabilities noted above are secured on the associated asset.

9. Related party transactions

During the year the director made available a loan to the company. The loan is interest free and repayable on demand. At the year end date the balance due to the director totalled £ 10,461 (2018: £2,493).