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REGISTERED NUMBER: SC478652 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

M B LANGMUIR & HAY (UK) LIMITED

M B LANGMUIR & HAY (UK) LIMITED (REGISTERED NUMBER: SC478652)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


M B LANGMUIR & HAY (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Montgomery Langmuir
Mark Langmuir
Frank Black
Stephen Daniels
Allan Paton



REGISTERED OFFICE: 60 Kelvingrove Street
Glasgow
G3 7SA



REGISTERED NUMBER: SC478652 (Scotland)



ACCOUNTANTS: William Duncan (UK) Limited
Chartered Accountants
4d Auchingramont Road
Hamilton
ML3 6JT



BANKERS: Clydesdale Bank plc
14 Bothwell Street
Glasgow
G2 6QY

M B LANGMUIR & HAY (UK) LIMITED (REGISTERED NUMBER: SC478652)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

31.3.23 31.3.22
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 105,000 210,000
Tangible assets 5 5,706 7,945
110,706 217,945

CURRENT ASSETS
Stocks 40,526 35,419
Debtors 6 554,168 538,620
Cash at bank and in hand 624,561 624,169
1,219,255 1,198,208
CREDITORS
Amounts falling due within one year 7 499,056 678,628
NET CURRENT ASSETS 720,199 519,580
TOTAL ASSETS LESS CURRENT
LIABILITIES

830,905

737,525

PROVISIONS FOR LIABILITIES 1,426 2,217
NET ASSETS 829,479 735,308

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 829,179 735,008
SHAREHOLDERS' FUNDS 829,479 735,308

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.

M B LANGMUIR & HAY (UK) LIMITED (REGISTERED NUMBER: SC478652)

STATEMENT OF FINANCIAL POSITION - 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 14 November 2023 and were signed on its behalf by:





Montgomery Langmuir - Director


M B LANGMUIR & HAY (UK) LIMITED (REGISTERED NUMBER: SC478652)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

M B Langmuir & Hay (UK) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Rendering of services
Turnover from the rendering of services, namely the provision of construction consultancy, is recognised by reference to the stage of completion of the service at the statement of financial position date.

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 the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 20% on cost

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of impairment loss is recognised immediately in the income statement.

Work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

M B LANGMUIR & HAY (UK) LIMITED (REGISTERED NUMBER: SC478652)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised as follows:

(i) 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.

(ii) Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand.

Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the statement of financial position.

(iii) 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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 the income statement in the period to which they relate.

Provision for liabilities
The company recognises a provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

M B LANGMUIR & HAY (UK) LIMITED (REGISTERED NUMBER: SC478652)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 1,050,000
AMORTISATION
At 1 April 2022 840,000
Amortisation for year 105,000
At 31 March 2023 945,000
NET BOOK VALUE
At 31 March 2023 105,000
At 31 March 2022 210,000

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 1,805 25,101 26,906
Additions 2,070 1,465 3,535
At 31 March 2023 3,875 26,566 30,441
DEPRECIATION
At 1 April 2022 1,366 17,595 18,961
Charge for year 831 4,943 5,774
At 31 March 2023 2,197 22,538 24,735
NET BOOK VALUE
At 31 March 2023 1,678 4,028 5,706
At 31 March 2022 439 7,506 7,945

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
as restated
£    £   
Trade debtors 545,606 537,486
Other debtors 1,304 952
Prepaid charges 7,258 182
554,168 538,620

M B LANGMUIR & HAY (UK) LIMITED (REGISTERED NUMBER: SC478652)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
as restated
£    £   
Trade creditors 5,069 1,332
Corporation tax 231,279 294,970
PAYE and NIC 4,565 2,827
VAT 150,718 202,662
Other creditors 59,221 1,004
Directors' loans 45,304 169,469
Accrued charges 2,900 6,364
499,056 678,628