McKendry Stoves Limited - Period Ending 2021-12-31

McKendry Stoves Limited

(Registration number: NI614254)
Balance Sheet as at 31 December 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	5	13,437	14,687
Current assets
Stocks	6	21,155	18,455
Debtors	7	4,709	6,555
Cash at bank and in hand		6,861	33,701
		32,725	58,711
Creditors: Amounts falling due within one year	8	(41,887)	(76,591)
Net current liabilities		(9,162)	(17,880)
Net assets/(liabilities)		4,275	(3,193)
Capital and reserves
Called up share capital	9	100	100
Retained earnings		4,175	(3,293)
Shareholders' funds/(deficit)		4,275	(3,193)

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 21 September 2022
 

......................................... Mrs Hazel McKendry Company secretary and director

McKendry Stoves Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
51-53 Thomas Street
Ballymena
Co Antrim
BT43 6AZ
Northern Ireland

These financial statements were authorised for issue by the director on 21 September 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Buildings	5% straight line

McKendry Stoves Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2020 - 0).

McKendry Stoves Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2021	10,000	10,000
At 31 December 2021	10,000	10,000
Amortisation
At 1 January 2021	10,000	10,000
At 31 December 2021	10,000	10,000
Carrying amount
At 31 December 2021	-	-

5	Tangible assets

	Land and buildings £	Total £
Cost or valuation
At 1 January 2021	25,000	25,000
At 31 December 2021	25,000	25,000
Depreciation
At 1 January 2021	10,313	10,313
Charge for the year	1,250	1,250
At 31 December 2021	11,563	11,563
Carrying amount
At 31 December 2021	13,437	13,437
At 31 December 2020	14,687	14,687

Included within the net book value of land and buildings above is £13,437 (2020 - £14,687) in respect of freehold land and buildings.
 

6

Stocks

	2021 £	2020 £
Other inventories	21,155	18,455

McKendry Stoves Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

7

Debtors

Current	2021 £	2020 £
Trade debtors	4,709	6,555

8

Creditors

Creditors: amounts falling due within one year

	Note	2021 £	2020 £
Due within one year
Trade creditors		5,731	8,392
Taxation and social security		1,552	2,179
Other creditors		34,604	66,020
		41,887	76,591

9	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Ordinary £1 shares of £1 each	100	100	100	100