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REGISTERED NUMBER: SC038931 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2022

for

George McDougal (Bassendean) Limited

George McDougal (Bassendean) Limited (Registered number: SC038931)






Contents of the Financial Statements
for the Year Ended 31 May 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


George McDougal (Bassendean) Limited

Company Information
for the Year Ended 31 May 2022







DIRECTORS: J McDougal
Mrs C A McDougal





SECRETARY: Mrs C A McDougal





REGISTERED OFFICE: Bassendean
Gordon
Borders
TD3 6LU





REGISTERED NUMBER: SC038931 (Scotland)





ACCOUNTANT: Susan Cove Accountancy Limited
Chartered Accountant
Ty Hapus
Clerklands
Melrose
Roxburghshire
TD6 9JR

George McDougal (Bassendean) Limited (Registered number: SC038931)

Balance Sheet
31 May 2022

31.5.22 31.5.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,026,490 1,994,368

CURRENT ASSETS
Stocks 1,159,866 1,056,635
Debtors 5 173,224 94,628
Cash at bank 3,412,072 670,291
4,745,162 1,821,554
CREDITORS
Amounts falling due within one
year

6

709,696

632,597
NET CURRENT ASSETS 4,035,466 1,188,957
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,061,956

3,183,325

CREDITORS
Amounts falling due after more than
one year

7

(139,962

)

(149,455

)

PROVISIONS FOR LIABILITIES (189,317 ) (143,521 )
NET ASSETS 5,732,677 2,890,349

George McDougal (Bassendean) Limited (Registered number: SC038931)

Balance Sheet - continued
31 May 2022

31.5.22 31.5.21
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Other reserves 136 136
Retained earnings 5,730,541 2,888,213
5,732,677 2,890,349

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 30 August 2022 and were signed on its behalf by:





J McDougal - Director


George McDougal (Bassendean) Limited (Registered number: SC038931)

Notes to the Financial Statements
for the Year Ended 31 May 2022

1. STATUTORY INFORMATION

George McDougal (Bassendean) Limited 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Buildings - at varying rates on cost
Plant and machinery - 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.


George McDougal (Bassendean) Limited (Registered number: SC038931)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022

2. ACCOUNTING POLICIES - continued
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 8 (2021 - 9 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property Buildings machinery
£    £    £   
COST
At 1 June 2021 996,206 591,376 1,554,075
Additions - 77,524 348,291
Disposals (84,213 ) - (192,350 )
At 31 May 2022 911,993 668,900 1,710,016
DEPRECIATION
At 1 June 2021 - 369,129 794,338
Charge for year - 21,159 268,678
Eliminated on disposal - - (158,490 )
At 31 May 2022 - 390,288 904,526
NET BOOK VALUE
At 31 May 2022 911,993 278,612 805,490
At 31 May 2021 996,206 222,247 759,737

George McDougal (Bassendean) Limited (Registered number: SC038931)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2021 55,845 2,604 3,200,106
Additions 26,000 - 451,815
Disposals (16,500 ) - (293,063 )
At 31 May 2022 65,345 2,604 3,358,858
DEPRECIATION
At 1 June 2021 39,667 2,604 1,205,738
Charge for year 10,131 - 299,968
Eliminated on disposal (14,848 ) - (173,338 )
At 31 May 2022 34,950 2,604 1,332,368
NET BOOK VALUE
At 31 May 2022 30,395 - 2,026,490
At 31 May 2021 16,178 - 1,994,368

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.5.22 31.5.21
£    £   
Trade debtors 123,900 63,365
Other debtors 49,324 31,263
173,224 94,628

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.22 31.5.21
£    £   
Bank loans and overdrafts 16,965 16,157
Trade creditors 267,039 250,999
Taxation and social security 16,583 32,336
Other creditors 409,109 333,105
709,696 632,597

George McDougal (Bassendean) Limited (Registered number: SC038931)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
31.5.22 31.5.21
£    £   
Bank loans 139,962 149,455

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after
5 years 72,102 84,826
72,102 84,826