McCain Consulting Limited Filleted accounts for Companies House (small and micro)

McCain Consulting Limited Filleted accounts for Companies House (small and micro)

MCCAIN CONSULTING LTD - Company Information

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1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 4,883 3,507 275 3,782 1,101 1,376 xbrli:pure xbrli:shares iso4217:GBP SC439026 2022-04-01 2023-03-31 SC439026 2023-03-31 SC439026 2022-03-31 SC439026 2021-04-01 2022-03-31 SC439026 2022-03-31 SC439026 2021-03-31 SC439026 bus:LeadAgentIfApplicable 2022-04-01 2023-03-31 SC439026 bus:Director1 2022-04-01 2023-03-31 SC439026 core:AfterOneYear 2023-03-31 SC439026 core:AfterOneYear 2022-03-31 SC439026 core:WithinOneYear 2023-03-31 SC439026 core:WithinOneYear 2022-03-31 SC439026 core:ShareCapital 2023-03-31 SC439026 core:ShareCapital 2022-03-31 SC439026 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC439026 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC439026 bus:SmallEntities 2022-04-01 2023-03-31 SC439026 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC439026 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 SC439026 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC439026 bus:FullAccounts 2022-04-01 2023-03-31 SC439026 core:OfficeEquipment 2022-04-01 2023-03-31 SC439026 core:OfficeEquipment 2023-03-31 SC439026 core:OfficeEquipment 2022-03-31 SC439026 bus:Director1 1 2023-03-31
COMPANY REGISTRATION NUMBER: SC439026
McCain Consulting Limited
Filleted Unaudited Financial Statements
31 March 2023
McCain Consulting Limited
Financial Statements
Year ended 31 March 2023
Contents
Page
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
McCain Consulting Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of McCain Consulting Limited
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of McCain Consulting Limited for the year ended 31 March 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of McCain Consulting Limited. Our work has been undertaken solely to prepare for your approval the financial statements of McCain Consulting Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than McCain Consulting Limited and its director for our work or for this report.
It is your duty to ensure that McCain Consulting Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of McCain Consulting Limited. You consider that McCain Consulting Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of McCain Consulting Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
GILLILAND & COMPANY Chartered Accountants
216 West George Street Glasgow G2 2PQ
20 December 2023
McCain Consulting Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
1,101
1,376
Current assets
Debtors
6
88,612
67,014
Cash at bank and in hand
4,086
1,828
--------
--------
92,698
68,842
Creditors: amounts falling due within one year
7
75,934
51,268
--------
--------
Net current assets
16,764
17,574
--------
--------
Total assets less current liabilities
17,865
18,950
Creditors: amounts falling due after more than one year
8
14,071
18,412
--------
--------
Net assets
3,794
538
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
3,694
438
-------
----
Shareholders funds
3,794
538
-------
----
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 Section 1A of 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 31 March 2023 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 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 .
McCain Consulting Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 20 December 2023 , and are signed on behalf of the board by:
Mr T McCain
Director
Company registration number: SC439026
McCain Consulting Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 15 Station Drive, Hurlford, Kilmarnock, Ayrshire, KA15AU, Scotland.
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
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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.
Income 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
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:
Equipment
-
20% reducing balance
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 April 2022 and 31 March 2023
4,883
4,883
-------
-------
Depreciation
At 1 April 2022
3,507
3,507
Charge for the year
275
275
-------
-------
At 31 March 2023
3,782
3,782
-------
-------
Carrying amount
At 31 March 2023
1,101
1,101
-------
-------
At 31 March 2022
1,376
1,376
-------
-------
6. Debtors
2023
2022
£
£
Other debtors
88,612
67,014
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
62,412
43,780
Social security and other taxes
11,432
6,153
Other creditors
2,090
1,335
--------
--------
75,934
51,268
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
14,071
18,412
--------
--------
9. Director's advances, credits and guarantees
As at 31 March 2023 T McCain, director owed the business £ 47,499 (2022: £54,220).
10. Controlling party
The company was under the control of Mr T McCain throughout the current period. Mr T McCain is the managing director and majority shareholder.