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REGISTERED NUMBER: 01687108 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

MALCOLM MCCULLOCH & SONS LIMITED

MALCOLM MCCULLOCH & SONS LIMITED (REGISTERED NUMBER: 01687108)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MALCOLM MCCULLOCH & SONS LIMITED

COMPANY INFORMATION
for the year ended 31 October 2023







DIRECTORS: Mr Mark Alan McCulloch
Mr Martin Anthony McCulloch
Mr Andrew Mark McCulloch





SECRETARY: Mr Mark Alan McCulloch





REGISTERED OFFICE: Macoil Building
"Wyrefields"
Poulton Business Park
Poulton Le Fylde
Lancashire
FY6 8JX





REGISTERED NUMBER: 01687108 (England and Wales)





ACCOUNTANTS: Jones Harris Limited
Chartered Accountants
17 St Peters Place
Fleetwood
Lancashire
FY7 6EB

MALCOLM MCCULLOCH & SONS LIMITED (REGISTERED NUMBER: 01687108)

BALANCE SHEET
31 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 451,828 452,207

CURRENT ASSETS
Stocks 25,000 45,000
Debtors 5 121,993 127,344
Cash at bank 28,829 26,532
175,822 198,876
CREDITORS
Amounts falling due within one year 6 (150,238 ) (193,530 )
NET CURRENT ASSETS 25,584 5,346
TOTAL ASSETS LESS CURRENT
LIABILITIES

477,412

457,553

CREDITORS
Amounts falling due after more than one
year

7

(21,224

)

(38,954

)

PROVISIONS FOR LIABILITIES (48,629 ) (48,701 )
NET ASSETS 407,559 369,898

CAPITAL AND RESERVES
Called up share capital 130 130
Fair value reserve 9 272,776 272,776
Retained earnings 134,653 96,992
SHAREHOLDERS' FUNDS 407,559 369,898

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

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

MALCOLM MCCULLOCH & SONS LIMITED (REGISTERED NUMBER: 01687108)

BALANCE SHEET - continued
31 October 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 24 January 2024 and were signed on its behalf by:





Mr Martin Anthony McCulloch - Director


MALCOLM MCCULLOCH & SONS LIMITED (REGISTERED NUMBER: 01687108)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 October 2023

1. STATUTORY INFORMATION

Malcolm McCulloch & Sons Limited is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance

Depreciation is not charged on freehold buildings contrary to the provisions of FRS102 Section 1A (effective January 2016). In the opinion of the directors the residual value of the properties is so high and the useful economic life so long that any depreciation is wholly immaterial.

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

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.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MALCOLM MCCULLOCH & SONS LIMITED (REGISTERED NUMBER: 01687108)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2023

2. ACCOUNTING POLICIES - continued

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 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 November 2022
and 31 October 2023 450,000 4,401 19,013 473,414
DEPRECIATION
At 1 November 2022 - 4,185 17,022 21,207
Charge for year - 49 330 379
At 31 October 2023 - 4,234 17,352 21,586
NET BOOK VALUE
At 31 October 2023 450,000 167 1,661 451,828
At 31 October 2022 450,000 216 1,991 452,207

Cost or valuation at 31 October 2023 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
Valuation in 1992 52,787 - - 52,787
Valuation in 2009 169,321 - - 169,321
Valuation in 2021 98,950 - - 98,950
Cost 128,942 4,401 19,013 152,356
450,000 4,401 19,013 473,414

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 128,942 128,942

Value of land in freehold land and buildings 22,944 22,944

Freehold land and buildings were valued on an open market basis on 31 October 2023 by the directors .

MALCOLM MCCULLOCH & SONS LIMITED (REGISTERED NUMBER: 01687108)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 121,993 127,344

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 12,227 10,466
Trade creditors 83,942 138,274
Tax 27,519 29,748
VAT 21,393 9,365
Directors' current accounts 85 505
Accruals and deferred income 5,072 5,172
150,238 193,530

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 21,224 33,510
Deferred trade creditor - 5,444
21,224 38,954

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 33,451 43,976

9. RESERVES
Fair
value
reserve
£   
At 1 November 2022
and 31 October 2023 272,776

MALCOLM MCCULLOCH & SONS LIMITED (REGISTERED NUMBER: 01687108)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
Mr Mark Alan McCulloch
Balance outstanding at start of year - -
Amounts advanced 14,384 6,400
Amounts repaid (14,384 ) (6,400 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mr Martin Anthony McCulloch
Balance outstanding at start of year - -
Amounts advanced 7,332 7,500
Amounts repaid (7,332 ) (7,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mr Andrew Mark McCulloch
Balance outstanding at start of year - -
Amounts advanced 9,039 6,000
Amounts repaid (9,039 ) (6,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loan to the directors was unsecured and repayable on demand. Interest is payable at the HMRC rate applicable to beneficial loan arrangements.

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £61,500 (2022 - £49,500) were paid to the directors .