Murray McGregor Limited SC354639 false 2022-01-01 2022-12-31 2022-12-31 The principal activity of the company is The principal activity of the company during the year was bee keeping and the production and sale of honey. Digita Accounts Production Advanced 6.30.9574.0 true true SC354639 2022-01-01 2022-12-31 SC354639 2022-12-31 SC354639 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-12-31 SC354639 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC354639 core:RevaluationReserve 2022-12-31 SC354639 core:ShareCapital 2022-12-31 SC354639 core:CurrentFinancialInstruments 2022-12-31 SC354639 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 SC354639 core:Non-currentFinancialInstruments 2022-12-31 SC354639 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 SC354639 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 SC354639 core:MotorVehicles 2022-12-31 SC354639 core:OfficeEquipment 2022-12-31 SC354639 core:PlantMachinery 2022-12-31 SC354639 bus:SmallEntities 2022-01-01 2022-12-31 SC354639 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 SC354639 bus:FullAccounts 2022-01-01 2022-12-31 SC354639 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 SC354639 bus:RegisteredOffice 2022-01-01 2022-12-31 SC354639 bus:Director1 2022-01-01 2022-12-31 SC354639 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-01-01 2022-12-31 SC354639 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 SC354639 core:LandBuildings 2022-01-01 2022-12-31 SC354639 core:LandBuildings core:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 SC354639 core:MotorVehicles 2022-01-01 2022-12-31 SC354639 core:OfficeEquipment 2022-01-01 2022-12-31 SC354639 core:PlantMachinery 2022-01-01 2022-12-31 SC354639 countries:Scotland 2022-01-01 2022-12-31 SC354639 2021-12-31 SC354639 core:LandBuildings core:OwnedOrFreeholdAssets 2021-12-31 SC354639 core:MotorVehicles 2021-12-31 SC354639 core:OfficeEquipment 2021-12-31 SC354639 core:PlantMachinery 2021-12-31 SC354639 2021-01-01 2021-12-31 SC354639 2021-12-31 SC354639 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2021-12-31 SC354639 core:RetainedEarningsAccumulatedLosses 2021-12-31 SC354639 core:RevaluationReserve 2021-12-31 SC354639 core:ShareCapital 2021-12-31 SC354639 core:CurrentFinancialInstruments 2021-12-31 SC354639 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 SC354639 core:Non-currentFinancialInstruments 2021-12-31 SC354639 core:Non-currentFinancialInstruments core:AfterOneYear 2021-12-31 SC354639 core:LandBuildings core:OwnedOrFreeholdAssets 2021-12-31 SC354639 core:MotorVehicles 2021-12-31 SC354639 core:OfficeEquipment 2021-12-31 SC354639 core:PlantMachinery 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC354639

Murray McGregor Limited

Unaudited Financial Statements

for the Year Ended 31 December 2022

 

Murray McGregor Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Murray McGregor Limited

(Registration number: SC354639)
Statement of Financial Position as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

1,211,657

1,079,930

Current assets

 

Stocks

5

358,986

326,351

Debtors

6

6,750

68,691

Cash at bank and in hand

 

53,332

20,874

 

419,068

415,916

Creditors: Amounts falling due within one year

7

(642,888)

(534,340)

Net current liabilities

 

(223,820)

(118,424)

Total assets less current liabilities

 

987,837

961,506

Creditors: Amounts falling due after more than one year

7

(749)

(15,958)

Provisions for liabilities

(180,739)

(155,383)

Net assets

 

806,349

790,165

Capital and reserves

 

Called up share capital

8

100

100

Revaluation reserve

509,651

509,651

Retained earnings

296,598

280,414

Shareholders' funds

 

806,349

790,165

For the financial year ending 31 December 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Income Statement.

 

Murray McGregor Limited

(Registration number: SC354639)
Statement of Financial Position as at 31 December 2022

Approved and authorised by the director on 9 November 2023
 

.........................................
Mr Murray McGregor
Director

 

Murray McGregor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1

General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
29 Commercial Street
Dundee
DD1 3DG
Scotland

The principal place of business is:
Denrosa
Victoria Street
Coupar Angus
Perthshire
PH13 9AE
Scotland

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

Murray McGregor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land & Buildings

10% reducing balance

Plant & Machinery

10% reducing balance

Office Equipment

15% reducing balance

Motor Vehicles

25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Murray McGregor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 21 (2021 - 24).

 

Murray McGregor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2022

145,800

1,358,569

18,394

188,378

1,711,141

Additions

-

202,802

2,042

-

204,844

At 31 December 2022

145,800

1,561,371

20,436

188,378

1,915,985

Depreciation

At 1 January 2022

8,532

478,615

8,357

135,707

631,211

Charge for the year

1,373

56,766

1,813

13,165

73,117

At 31 December 2022

9,905

535,381

10,170

148,872

704,328

Carrying amount

At 31 December 2022

135,895

1,025,990

10,266

39,506

1,211,657

At 31 December 2021

137,268

879,954

10,037

52,671

1,079,930

5

Stocks

2022
£

2021
£

Other inventories

358,986

326,351

6

Debtors

Current

2022
£

2021
£

Other debtors

6,750

68,691

 

Murray McGregor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

9

230,285

114,796

Trade creditors

 

241,451

203,035

Taxation and social security

 

27,964

76,219

Accruals and deferred income

 

6,528

6,528

Other creditors

 

136,660

133,762

 

642,888

534,340

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

9

749

15,958

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         
 

Murray McGregor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

9

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Other borrowings

749

15,958

2022
£

2021
£

Current loans and borrowings

Bank borrowings

70,075

95,379

Bank overdrafts

145,000

-

Other borrowings

15,210

19,417

230,285

114,796