McKenna (Plasterers) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01262251 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

MCKENNA (PLASTERERS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M E McKenna

A McKenna

T Howarth

SECRETARY:

M E McKenna

REGISTERED OFFICE:

4 South Terrace

Cornsay Colliery

Co. Durham

DH7 9ED

REGISTERED NUMBER:

01262251 (England and Wales)

ACCOUNTANTS:

Ribchesters

Chartered Accountants

Finchale House

Belmont Business Park

Durham

DH1 1TW

FIXED ASSETS

Tangible assets

4

59,663

28,255

CURRENT ASSETS

Stocks

10,930

11,435

Debtors

5

296,755

236,323

Cash at bank

238,047

301,044

545,732

548,802

CREDITORS

Amounts falling due within one year

6

176,532

141,775

NET CURRENT ASSETS

369,200

407,027

TOTAL ASSETS LESS CURRENT LIABILITIES

428,863

435,282

PROVISIONS FOR LIABILITIES

11,336

5,653

NET ASSETS

417,527

429,629

CAPITAL AND RESERVES

Called up share capital

7

5,000

5,000

Retained earnings

412,527

424,629

SHAREHOLDERS' FUNDS

417,527

429,629

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 14 November 2017 and were signed on its behalf by:

A McKenna - Director

1.	STATUTORY INFORMATION

McKenna (Plasterers) 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

straight line over 25 years

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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 (2016 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2016

109,914

Additions

41,600

Disposals

(2,600

)

At 30 June 2017

148,914

DEPRECIATION

At 1 July 2016

81,659

Charge for year

9,639

Eliminated on disposal

(2,047

)

At 30 June 2017

89,251

NET BOOK VALUE

At 30 June 2017

59,663

At 30 June 2016

28,255

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

259,945

226,188

Other debtors

36,810

10,135

296,755

236,323

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

83,489

67,522

Taxation and social security

81,691

64,377

Other creditors

11,352

9,876

176,532

141,775

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

5,000

Ordinary

£1

5,000

5,000

8.	RELATED PARTY DISCLOSURES

Business premises at 4 South Terrace, Cornsay Colliery, County Durham are owned by Mr A McKenna, one of

the directors of the company, and were occupied rent free by the company during the year.

During the year the directors maintained interest free loans to the company. The balance on the loans at 30 June

2017 was £756 (2016: £420)