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REGISTERED NUMBER: SC225609 (Scotland)





















Unaudited Financial Statements

For The Year Ended 31 March 2023

for

MCN Scotland Limited

MCN Scotland Limited (Registered number: SC225609)






Contents of the Financial Statements
For The Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MCN Scotland Limited

Company Information
For The Year Ended 31 March 2023







DIRECTORS: A Shearer
D Murray
Mrs F Murray
Mrs M L Shearer





SECRETARY: Mrs D Rodgers





REGISTERED OFFICE: 1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH





REGISTERED NUMBER: SC225609 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

MCN Scotland Limited (Registered number: SC225609)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 217,361 217,170

CURRENT ASSETS
Stocks 382,306 39,870
Debtors 5 388,784 780,056
Cash at bank 916,371 730,750
1,687,461 1,550,676
CREDITORS
Amounts falling due within one year 6 1,295,744 1,253,340
NET CURRENT ASSETS 391,717 297,336
TOTAL ASSETS LESS CURRENT
LIABILITIES

609,078

514,506

CREDITORS
Amounts falling due after more than one
year

7

(80,001

)

(134,708

)

PROVISIONS FOR LIABILITIES 8 (36,847 ) (2,432 )
NET ASSETS 492,230 377,366

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 492,130 377,266
SHAREHOLDERS' FUNDS 492,230 377,366

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

MCN Scotland Limited (Registered number: SC225609)

Balance Sheet - continued
31 March 2023


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 1 December 2023 and were signed on its behalf by:





A Shearer - Director


MCN Scotland Limited (Registered number: SC225609)

Notes to the Financial Statements
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

MCN Scotland 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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 33% on cost and 25% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances
Cash and bank balances are measured at the transaction price.

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.


MCN Scotland Limited (Registered number: SC225609)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

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
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 61 (2022 - 56 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 440,782 14,236 455,018
Additions 121,429 - 121,429
Disposals (54,526 ) - (54,526 )
At 31 March 2023 507,685 14,236 521,921
DEPRECIATION
At 1 April 2022 226,117 11,731 237,848
Charge for year 80,816 501 81,317
Eliminated on disposal (14,605 ) - (14,605 )
At 31 March 2023 292,328 12,232 304,560
NET BOOK VALUE
At 31 March 2023 215,357 2,004 217,361
At 31 March 2022 214,665 2,505 217,170

MCN Scotland Limited (Registered number: SC225609)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 274,760
Additions 81,055
Disposals (39,498 )
At 31 March 2023 316,317
DEPRECIATION
At 1 April 2022 108,717
Charge for year 63,190
Eliminated on disposal (9,374 )
At 31 March 2023 162,533
NET BOOK VALUE
At 31 March 2023 153,784
At 31 March 2022 166,043

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 257,165 666,288
Other debtors 131,619 113,768
388,784 780,056

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 32,387 9,707
Hire purchase contracts and finance leases 60,265 66,411
Trade creditors 858,848 875,177
Taxation and social security 257,610 238,786
Other creditors 86,634 63,259
1,295,744 1,253,340

MCN Scotland Limited (Registered number: SC225609)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 32,387
Hire purchase contracts and finance leases 80,001 102,321
80,001 134,708

8. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 36,847 2,432

Deferred
tax
£   
Balance at 1 April 2022 2,432
Provided during year 34,415
Balance at 31 March 2023 36,847