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Registration number: SC679728

MacGregor Management Solutions Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

MacGregor Management Solutions Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

Accountants' Report

7

 

MacGregor Management Solutions Ltd

Company Information

Director

Mrs Emma Ann MacGregor

Registered office

Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

Accountants

Yates & Co CA
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

MacGregor Management Solutions Ltd

(Registration number: SC679728)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

978

916

Current assets

 

Stocks

5

-

3,150

Debtors

6

9,810

18,142

Cash at bank and in hand

 

45,068

54,385

 

54,878

75,677

Creditors: Amounts falling due within one year

7

(20,383)

(58,410)

Net current assets

 

34,495

17,267

Net assets

 

35,473

18,183

Capital and reserves

 

Called up share capital

100

100

Retained earnings

35,373

18,083

Shareholders' funds

 

35,473

18,183

For the financial year ending 30 November 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 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 her 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 Profit and Loss Account.

Approved and authorised by the director on 12 January 2024
 

.........................................
Mrs Emma Ann MacGregor
Director

 

MacGregor Management Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

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

2

Accounting policies

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.

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.

Tax

The tax expense for the period comprises current 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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Computer equipment

33% straight line

 

MacGregor Management Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, 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

Employees and Directors

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

MacGregor Management Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 December 2022

1,679

1,679

Additions

932

932

At 30 November 2023

2,611

2,611

Depreciation

At 1 December 2022

763

763

Charge for the year

870

870

At 30 November 2023

1,633

1,633

Carrying amount

At 30 November 2023

978

978

At 30 November 2022

916

916

5

Stocks

2023
£

2022
£

Work in progress

-

3,150

6

Debtors

Current

2023
£

2022
£

Trade debtors

9,810

18,142

 

9,810

18,142

7

Creditors

Creditors: amounts falling due within one year

 

MacGregor Management Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

2023
£

2022
£

Due within one year

Taxation and social security

18,953

14,145

Other creditors

1,430

44,265

20,383

58,410

8

Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

2023
 £

2022
 £

Mrs E MacGregor

1,430

44,265

 

1,430

44,265

The maximum balance outstanding during the year amounted to £44,265.

The director's current account is repayable on demand.

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
MacGregor Management Solutions Ltd
for the Year Ended 30 November 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MacGregor Management Solutions Ltd for the year ended 30 November 2023 as set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of MacGregor Management Solutions Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of MacGregor Management Solutions Ltd and state those matters that we have agreed to state to the Board of Directors of MacGregor Management Solutions Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MacGregor Management Solutions Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that MacGregor Management Solutions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of MacGregor Management Solutions Ltd. You consider that MacGregor Management Solutions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of MacGregor Management Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Yates & Co CA
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

12 January 2024