MACKAN DEVELOPMENTS LTD - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07821048 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2019

for

MACKAN DEVELOPMENTS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr K. McCormack

Mrs D. McCormack

REGISTERED OFFICE:

Westrick House

64b Aldermans Hill

Palmers Green

London

N13 4PP

REGISTERED NUMBER:

07821048 (England and Wales)

ACCOUNTANTS:

AccountWorks Limited

Chartered Certified Accountants

Westrick House

64b Aldermans Hill

Palmers Green

London

N13 4PP

FIXED ASSETS

Tangible assets

4

11,120

5,679

CURRENT ASSETS

Debtors

5

3,580

-

Cash at bank and in hand

7,129

32,825

10,709

32,825

CREDITORS

Amounts falling due within one year

6

21,235

36,974

NET CURRENT LIABILITIES

(10,526

)

(4,149

)

TOTAL ASSETS LESS CURRENT LIABILITIES

594

1,530

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

7

494

1,430

SHAREHOLDERS' FUNDS

594

1,530

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 and authorised for issue on 28 October 2020 and were signed on its behalf by:

Mr K. McCormack - Director

1.	STATUTORY INFORMATION

MACKAN DEVELOPMENTS LTD 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 represents net invoiced sales of services, excluding value added tax.

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 etc

-

25% on reducing balance

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2018

23,716

Additions

9,149

At 31 October 2019

32,865

DEPRECIATION

At 1 November 2018

18,037

Charge for year

3,708

At 31 October 2019

21,745

NET BOOK VALUE

At 31 October 2019

11,120

At 31 October 2018

5,679

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Other debtors

3,580

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Taxation and social security

11,404

14,665

Other creditors

9,831

22,309

21,235

36,974

7.

RESERVES

Retained

earnings

£

At 1 November 2018

1,430

Profit for the year

25,064

Dividends

(26,000

)

At 31 October 2019

494