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REGISTERED NUMBER: SC279763 (Scotland)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

MCGOVERN DECORATORS PAINTING
CONTRACTORS LTD

MCGOVERN DECORATORS PAINTING
CONTRACTORS LTD (REGISTERED NUMBER: SC279763)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


MCGOVERN DECORATORS PAINTING
CONTRACTORS LTD (REGISTERED NUMBER: SC279763)

ABRIDGED BALANCE SHEET
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,534 2,831

CURRENT ASSETS
Stocks 1,155 84,129
Debtors 90,636 130,390
Cash at bank 50,032 19,866
141,823 234,385
CREDITORS
Amounts falling due within one year 158,622 231,883
NET CURRENT (LIABILITIES)/ASSETS (16,799 ) 2,502
TOTAL ASSETS LESS CURRENT
LIABILITIES

(10,265

)

5,333

PROVISIONS FOR LIABILITIES - 3,768
NET (LIABILITIES)/ASSETS (10,265 ) 1,565

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (10,365 ) 1,465
SHAREHOLDERS' FUNDS (10,265 ) 1,565

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 director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

MCGOVERN DECORATORS PAINTING
CONTRACTORS LTD (REGISTERED NUMBER: SC279763)

ABRIDGED BALANCE SHEET - continued
31 July 2023



The financial statements were approved by the director and authorised for issue on 7 March 2024 and were signed by:





P McGovern - Director


MCGOVERN DECORATORS PAINTING
CONTRACTORS LTD (REGISTERED NUMBER: SC279763)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

McGovern Decorators Painting Contractors Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC279763

Registered office: Unit 13 Simpson Court
11 South Avenue
Clydebank Business Park
Glasgow
G81 2NR

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 and revenue recognition
Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when goods and services are provided 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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

MCGOVERN DECORATORS PAINTING
CONTRACTORS LTD (REGISTERED NUMBER: SC279763)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 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 4 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022 71,733
Additions 1,064
Disposals (34,176 )
At 31 July 2023 38,621
DEPRECIATION
At 1 August 2022 68,902
Charge for year 2,185
Eliminated on disposal (39,000 )
At 31 July 2023 32,087
NET BOOK VALUE
At 31 July 2023 6,534
At 31 July 2022 2,831

5. ULTIMATE CONTROLLING PARTY

The company is wholly owned and controlled by the director.