M D McFerran & Co Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04393514 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2022

for

M D McFerran & Co Limited

Trading as

M D McFerran & Co, Accountants

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R J Meadows

J Meadows

REGISTERED OFFICE:

3 Millford Close

Hall Green

Birmingham

West Midlands

B28 0YL

REGISTERED NUMBER:

04393514 (England and Wales)

ACCOUNTANTS:

M.D.McFerran & Co, Accountants

3 Millford Close

Hall Green

Birmingham

West Midlands

B28 0YL

FIXED ASSETS

Intangible assets

4

22,782

26,504

Tangible assets

5

783

12,246

23,565

38,750

CURRENT ASSETS

Debtors

6

11,153

9,469

Cash at bank

64,527

59,631

75,680

69,100

CREDITORS

Amounts falling due within one year

7

93,987

73,365

NET CURRENT LIABILITIES

(18,307

)

(4,265

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,258

34,485

PROVISIONS FOR LIABILITIES

8

-

357

NET ASSETS

5,258

34,128

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

5,248

34,118

SHAREHOLDERS' FUNDS

5,258

34,128

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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 23 October 2022 and were signed on its behalf by:

R J Meadows - Director

1.	STATUTORY INFORMATION

M D McFerran & Co 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 is being written off equally over the next eight years .This is considered to be appropriate to reflect the current carrying value.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 3 (2021 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2021

and 31 August 2022

56,000

AMORTISATION

At 1 September 2021

29,496

Charge for year

3,722

At 31 August 2022

33,218

NET BOOK VALUE

At 31 August 2022

22,782

At 31 August 2021

26,504

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 September 2021

2,021

41,331

2,566

45,918

Disposals

-

(41,331

)

-

(41,331

)

At 31 August 2022

2,021

-

2,566

4,587

DEPRECIATION

At 1 September 2021

1,883

30,064

1,725

33,672

Charge for year

28

-

168

196

Eliminated on disposal

-

(30,064

)

-

(30,064

)

At 31 August 2022

1,911

-

1,893

3,804

NET BOOK VALUE

At 31 August 2022

110

-

673

783

At 31 August 2021

138

11,267

841

12,246

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 September 2021

41,331

Disposals

(41,331

)

At 31 August 2022

-

DEPRECIATION

At 1 September 2021

30,064

Eliminated on disposal

(30,064

)

At 31 August 2022

-

NET BOOK VALUE

At 31 August 2022

-

At 31 August 2021

11,267

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

£

Trade debtors

11,153

8,532

Other debtors

-

937

11,153

9,469

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

£

Trade creditors

1

1

Taxation and social security

12,499

16,844

Other creditors

81,487

56,520

93,987

73,365

8.	PROVISIONS FOR LIABILITIES

31.8.22

31.8.21

£

£

Deferred tax

-

357

Deferred

tax

£

Balance at 1 September 2021

357

Provided during year

(357

)

Profit and loss account

Balance at 31 August 2022

-