J&E MacGregor Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC365611 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2019

FOR

J&E MACGREGOR LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J E MacGregor

A MacGregor

SECRETARY:

A MacGregor

REGISTERED OFFICE:

1/4 Borthwick View

Pentland industrial Estate

Loanhead

EH20 9QH

REGISTERED NUMBER:

SC365611 (Scotland)

ACCOUNTANTS:

Mitchell Edwards

Chartered Certified Accountants

24A Ainslie Place

Edinburgh

EH3 6AJ

BANKERS:

Royal Bank of Scotland

142-144 Princes Street

Edinburgh

EH2 4EQ

FIXED ASSETS

Intangible assets

4

53,529

58,882

Tangible assets

5

24,149

18,928

77,678

77,810

CURRENT ASSETS

Stocks

6

4,500

7,500

Debtors

7

24,796

44,758

Cash at bank and in hand

102,548

101,038

131,844

153,296

CREDITORS

Amounts falling due within one year

8

193,823

193,081

NET CURRENT LIABILITIES

(61,979

)

(39,785

)

TOTAL ASSETS LESS CURRENT LIABILITIES

15,699

38,025

PROVISIONS FOR LIABILITIES

4,256

3,582

NET ASSETS

11,443

34,443

CAPITAL AND RESERVES

Called up share capital

30

30

Retained earnings

11,413

34,413

SHAREHOLDERS' FUNDS

11,443

34,443

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 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 21 July 2020 and were signed on its behalf by:

J E MacGregor - Director

A MacGregor - Director

1.	STATUTORY INFORMATION

J&E MacGregor Ltd. is a private company, limited by shares , registered in Scotland. 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, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of seventeen years.

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.

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

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.

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 8 (2018 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2018

and 31 October 2019

130,000

AMORTISATION

At 1 November 2018

71,118

Charge for year

5,353

At 31 October 2019

76,471

NET BOOK VALUE

At 31 October 2019

53,529

At 31 October 2018

58,882

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 November 2018

12,371

3,066

48,087

8,649

72,173

Additions

-

2,716

7,500

3,416

13,632

At 31 October 2019

12,371

5,782

55,587

12,065

85,805

DEPRECIATION

At 1 November 2018

4,254

2,982

37,950

8,059

53,245

Charge for year

812

629

5,254

1,716

8,411

At 31 October 2019

5,066

3,611

43,204

9,775

61,656

NET BOOK VALUE

At 31 October 2019

7,305

2,171

12,383

2,290

24,149

At 31 October 2018

8,117

84

10,137

590

18,928

6.

STOCKS

2019

2018

£

£

Stocks

4,500

7,500

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

20,022

34,143

Other debtors

4,774

10,615

24,796

44,758

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

-

341

Trade creditors

26,685

35,200

Taxation and social security

22,154

36,681

Other creditors

144,984

120,859

193,823

193,081

9.	OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £5,633 (2018: £5,600)