McGarry Flooring and Contracts Ltd
|
Registered Number
:
SC
228845
|
For the year ended 31 March 2020
Scotland
Unaudited Financial Statements
For the year ended 31 March 2020
McGarry Flooring and Contracts Ltd
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
McGarry Flooring and Contracts Ltd
Statement of Financial Position
2019
2020
Property
,
plant and equipment
|
43,276
45,013
2
50
50
3
43,326
45,063
665,573
561,903
4
Trade and other receivables
|
243,812
261,147
5
791,988
Cash and cash equivalents
|
828,323
1,651,373
1,701,373
Trade and other payables
:
amounts falling due within one
|
year
|
(466,392)
(372,194)
6
1,234,981
1,279,179
Net current assets
Total assets less current liabilities
|
1,322,505
1,280,044
1,322,505
Net assets
1,280,044
500
500
1,322,005
1,279,544
1,322,505
1,280,044
Shareholders' funds
For the year ended 31 March 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006
|
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
|
These financial statements were approved and authorised for issue by the Board on 03 November 2020 and were signed by:
|
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For the year ended 31 March 2020
McGarry Flooring and Contracts Ltd
Statement of Financial Position Continued
The notes form part of these financial statements
|
2 of 5
For the year ended 31 March 2020
McGarry Flooring and Contracts Ltd
Notes to the Financial Statements
Statutory Information
McGarry Flooring and Contracts Ltd is a private limited company
,
limited by shares
,
domiciled in Scotland
,
|
registration number SC
228845
.
|
60 Canyon Road
Netherton Industrial Estate
Wishaw
ML2 0EG
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A 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 costs convention as
|
modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover comprises the invoiced value of services supplied by the company, net of value added tax.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Land and buildings
Plant and machinery
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
|
3 of 5
For the year ended 31 March 2020
McGarry Flooring and Contracts Ltd
Notes to the Financial Statements Continued
2
.
Property
,
plant and equipment
|
88,354
21,354
67,000
67,000
21,354
88,354
Provision for depreciation and impairment
|
43,341
20,561
22,780
Charge for year
1,737
397
1,340
45,078
20,958
24,120
42,880
396
43,276
44,220
793
45,013
3
.
Investments held as fixed assets
|
50
50
50
50
50
50
2019
2020
561,903
665,573
4 of 5
For the year ended 31 March 2020
McGarry Flooring and Contracts Ltd
Notes to the Financial Statements Continued
5
.
Trade and other receivables
|
2019
2020
165,408
156,613
Amounts owed by group undertakings and participating interests
|
50,716
46,410
45,023
40,789
243,812
261,147
6
.
Trade and other payables
:
amounts falling due within one year
|
2019
2020
72,239
16,589
160,980
309,874
Taxation and social security
|
125,724
122,451
13,251
17,478
372,194
466,392
7
.
Average number of persons employed
|
During the year the average number of employees was 31 (2019 : 31)
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