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REGISTERED NUMBER: SC288944 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

Macd Electrical Ltd.

Macd Electrical Ltd. (Registered number: SC288944)






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




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Macd Electrical Ltd.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: D MacDonald
Mrs F MacDonald





REGISTERED OFFICE: 79 Eastmuir Street
Block 4 Unit 51
Annick Industrial Estate, Shettleston
Glasgow
G32 0HS





REGISTERED NUMBER: SC288944 (Scotland)





ACCOUNTANTS: Burgoyne Carey
Chartered Accountants
Pavilion 2
3 Dava Street
Broomloan Road
Glasgow
G51 2JA

Macd Electrical Ltd. (Registered number: SC288944)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 138,048 138,344

CURRENT ASSETS
Stocks 304,000 82,692
Debtors 5 321,056 661,556
Cash at bank and in hand 321,291 396,953
946,347 1,141,201
CREDITORS
Amounts falling due within one year 6 618,652 808,771
NET CURRENT ASSETS 327,695 332,430
TOTAL ASSETS LESS CURRENT
LIABILITIES

465,743

470,774

CREDITORS
Amounts falling due after more than one
year

7

(41,167

)

(49,424

)

PROVISIONS FOR LIABILITIES (20,413 ) (12,599 )
NET ASSETS 404,163 408,751

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 404,063 408,651
SHAREHOLDERS' FUNDS 404,163 408,751

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

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

Macd Electrical Ltd. (Registered number: SC288944)

BALANCE SHEET - continued
31 JULY 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 12 March 2024 and were signed on its behalf by:





D MacDonald - Director


Macd Electrical Ltd. (Registered number: SC288944)

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

1. STATUTORY INFORMATION

Macd Electrical Ltd. 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 represents amounts invoiced during the year net, exclusive of Value Added Tax.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 25% on cost and 15% 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.

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.

Macd Electrical Ltd. (Registered number: SC288944)

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

2. ACCOUNTING POLICIES - continued

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.

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

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 18 (2022 - 18 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 351,079
Additions 61,101
Disposals (65,368 )
At 31 July 2023 346,812
DEPRECIATION
At 1 August 2022 212,735
Charge for year 48,797
Eliminated on disposal (52,768 )
At 31 July 2023 208,764
NET BOOK VALUE
At 31 July 2023 138,048
At 31 July 2022 138,344

Macd Electrical Ltd. (Registered number: SC288944)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 August 2022 239,170
Additions 58,188
Disposals (27,841 )
At 31 July 2023 269,517
DEPRECIATION
At 1 August 2022 128,870
Charge for year 41,960
Eliminated on disposal (26,441 )
At 31 July 2023 144,389
NET BOOK VALUE
At 31 July 2023 125,128
At 31 July 2022 110,300

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 286,798 459,281
Other debtors 34,258 202,275
321,056 661,556

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 46,096 38,719
Trade creditors 265,040 427,833
Taxation and social security 125,853 160,917
Other creditors 181,663 181,302
618,652 808,771

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 41,167 49,424

Macd Electrical Ltd. (Registered number: SC288944)

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

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits from directors subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
D MacDonald and Mrs F MacDonald
Balance outstanding at start of year (86 ) (143 )
Amounts advanced - 57
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (86 )

9. RELATED PARTY DISCLOSURES

Synergy Building Consultants Ltd, a company controlled by the directors D MacDonald and F MacDonald, was paid £83,000 during the year for consultancy services.