J&E MacGregor Ltd. - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: SC365611 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

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

37,470

42,823

Tangible assets

5

30,009

18,373

67,479

61,196

CURRENT ASSETS

Stocks

6

7,000

7,000

Debtors

7

21,964

17,400

Cash at bank and in hand

153,372

150,457

182,336

174,857

CREDITORS

Amounts falling due within one year

8

181,638

191,501

NET CURRENT ASSETS/(LIABILITIES)

698

(16,644

)

TOTAL ASSETS LESS CURRENT LIABILITIES

68,177

44,552

CREDITORS

Amounts falling due after more than one year

9

(10,694

)

(14,586

)

PROVISIONS FOR LIABILITIES

(5,502

)

(3,220

)

NET ASSETS

51,981

26,746

CAPITAL AND RESERVES

Called up share capital

30

30

Retained earnings

51,951

26,716

SHAREHOLDERS' FUNDS

51,981

26,746

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 24 April 2023 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

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.

Financial instruments

Bank and other loans are shown at amortised cost, with interest and up front charges in connection with the loans being allocated to accounting periods by applying the effective interest rate method.

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.

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 (2021 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2021

and 31 October 2022

130,000

AMORTISATION

At 1 November 2021

87,177

Charge for year

5,353

At 31 October 2022

92,530

NET BOOK VALUE

At 31 October 2022

37,470

At 31 October 2021

42,823

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 November 2021

12,371

7,638

54,016

14,082

88,107

Additions

-

-

21,216

4,933

26,149

At 31 October 2022

12,371

7,638

75,232

19,015

114,256

DEPRECIATION

At 1 November 2021

6,454

5,374

45,145

12,761

69,734

Charge for year

592

914

10,677

2,330

14,513

At 31 October 2022

7,046

6,288

55,822

15,091

84,247

NET BOOK VALUE

At 31 October 2022

5,325

1,350

19,410

3,924

30,009

At 31 October 2021

5,917

2,264

8,871

1,321

18,373

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

Computer

equipment

£

COST

Additions

2,205

At 31 October 2022

2,205

DEPRECIATION

Charge for year

728

At 31 October 2022

728

NET BOOK VALUE

At 31 October 2022

1,477

6.

STOCKS

2022

2021

£

£

Stocks

7,000

7,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

19,285

14,593

Other debtors

2,679

2,807

21,964

17,400

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Finance leases

1,114

-

Trade creditors

27,907

20,284

Taxation and social security

23,855

30,239

Other creditors

128,762

140,978

181,638

191,501

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Other creditors

10,694

14,586

10.	OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £6,000 (2021: £6,000).

11.	BOUNCE BACK LOAN SCHEME

The company has borrowed £20,000 under the Governments Bounce Back Loan Scheme. Under the scheme the Government provides the bank with a guarantee that the loan will be repaid in full. Interest is charged at the rate of 2.5% and the loan is repayable by installments as detailed below.

2022

2021

£

£

< 1 year

3,892

3,842

2-5 years

10,694

14,586

> 5 years

-

-

14,586

18,428