McCarthy Environmental Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06386199 (England and Wales)

McCarthy Environmental Limited

Unaudited Financial Statements for the Year Ended 31st May 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M C McCarthy

SECRETARY:

Courts Accountancy Services Limited

REGISTERED OFFICE:

Investment House 22-26 Celtic Court

Balloor

Buckingham

MK18 1RQ

REGISTERED NUMBER:

06386199 (England and Wales)

ACCOUNTANTS:

Courts Accountancy Services Ltd

Investment House

26 Celtic Court

Ballmoor

Buckingham

Buckinghamshire

MK18 1RQ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

212,900

130,871

212,900

130,871

CURRENT ASSETS

Stocks

180,861

254,544

Debtors

6

241,610

365,412

Cash at bank

162,432

111,077

584,903

731,033

CREDITORS

Amounts falling due within one year

7

290,088

440,790

NET CURRENT ASSETS

294,815

290,243

TOTAL ASSETS LESS CURRENT LIABILITIES

507,715

421,114

CREDITORS

Amounts falling due after more than one year

8

192,236

11,771

NET ASSETS

315,479

409,343

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

315,379

409,243

315,479

409,343

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 12th May 2021 and were signed by:

M C McCarthy - Director

1.	STATUTORY INFORMATION

McCarthy Environmental 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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 14 (2019 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st June 2019

and 31st May 2020

115,456

AMORTISATION

At 1st June 2019

and 31st May 2020

115,456

NET BOOK VALUE

At 31st May 2020

-

At 31st May 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st June 2019

303,468

Additions

157,354

Disposals

(18,726

)

At 31st May 2020

442,096

DEPRECIATION

At 1st June 2019

172,597

Charge for year

70,971

Eliminated on disposal

(14,372

)

At 31st May 2020

229,196

NET BOOK VALUE

At 31st May 2020

212,900

At 31st May 2019

130,871

6.

DEBTORS

31.5.20

31.5.19

£

£

Amounts falling due within one year:

Trade debtors

187,898

304,404

Other debtors

19,168

35,080

207,066

339,484

Amounts falling due after more than one year:

Other debtors

34,544

25,928

Aggregate amounts

241,610

365,412

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Bank loans and overdrafts

901

5,204

Hire purchase contracts

27,012

15,705

Trade creditors

173,621

332,344

Taxation and social security

80,592

80,821

Other creditors

7,962

6,716

290,088

440,790

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.20

31.5.19

£

£

Bank loans

100,000

-

Hire purchase contracts

92,236

11,771

192,236

11,771

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st May 2020 and 31st May 2019:

31.5.20

31.5.19

£

£

M C McCarthy

Balance outstanding at start of year

19,750

36,896

Amounts advanced

-

25,438

Amounts repaid

(1,201

)

(42,584

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

18,549

19,750