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COMPANY REGISTRATION NUMBER: SC511341
McCall Group Limited
Filleted Unaudited Financial Statements
For the year ended
31 March 2023
McCall Group Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Current assets
Debtors
4
491,935
47,500
Cash at bank and in hand
17,319
140
---------
--------
509,254
47,640
Creditors: amounts falling due within one year
5
505,119
47,365
---------
--------
Net current assets
4,135
275
-------
----
Total assets less current liabilities
4,135
275
-------
----
Net assets
4,135
275
-------
----
Capital and reserves
Called up share capital
100
100
Profit and loss account
4,035
175
-------
----
Shareholder funds
4,135
275
-------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 31 October 2023 , and are signed on behalf of the board by:
Mr S McCall
Director
Company registration number: SC511341
McCall Group Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is The Corrie, Houston Road, Kilmacolm, Renfrewshire, PA13 4NY, Scotland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
4. Debtors
2023
2022
£
£
Other debtors
491,935
47,500
---------
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
36,100
Corporation tax
64,473
23,967
Social security and other taxes
19,000
Other creditors
385,546
23,398
---------
--------
505,119
47,365
---------
--------
6. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr S McCall
( 15)
420,450
( 221,000)
199,435
----
---------
---------
---------
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr S McCall
( 15)
( 15)
----
----
----
----
7. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
Balance owed by/(owed to)
2023
2022
2023
2022
£
£
£
£
McCall Developments Limited
( 340,000)
(47,500)
(384,896)
(22,663)
---------
--------
---------
--------
The above entity was under the control of Director S L McCall throughout the current an preceeding period. Each transaction between McCall Group Limited and the above entity was in respect of management services. No further transactions were entered into with related parties that are required to be disclosed under the terms of FRS 102 Section 1A.