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REGISTERED NUMBER: SC515765 (Scotland)















Abridged Unaudited Financial Statements for the Year Ended 30 September 2023

for

McAdams Transport Ltd.

McAdams Transport Ltd. (Registered number: SC515765)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


McAdams Transport Ltd.

Company Information
for the Year Ended 30 September 2023







DIRECTORS: W McAdam
mrs J McAdam





REGISTERED OFFICE: 2 Cypres Road
Motherwell





REGISTERED NUMBER: SC515765 (Scotland)





ACCOUNTANTS: RAEBURN ALLISON & CO
CHARTERED ACCOUNTANTS
13/15 STRATHMORE HOUSE
TOWN CENTRE
EAST KILBRIDE
GLASGOW
G74 1LF

McAdams Transport Ltd. (Registered number: SC515765)

Abridged Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 382,197 267,319

CURRENT ASSETS
Debtors 222,389 200,592
Cash at bank and in hand 294,163 364,403
516,552 564,995
CREDITORS
Amounts falling due within one year (303,766 ) (351,639 )
NET CURRENT ASSETS 212,786 213,356
TOTAL ASSETS LESS CURRENT
LIABILITIES

594,983

480,675

CREDITORS
Amounts falling due after more than one
year

(231,313

)

(137,305

)

PROVISIONS FOR LIABILITIES 6 (56,945 ) (42,208 )
NET ASSETS 306,725 301,162

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 306,625 301,062
SHAREHOLDERS' FUNDS 306,725 301,162

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

McAdams Transport Ltd. (Registered number: SC515765)

Abridged Balance Sheet - continued
30 September 2023


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 30 September 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.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2024 and were signed on its behalf by:





W McAdam - Director


McAdams Transport Ltd. (Registered number: SC515765)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

McAdams Transport 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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
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.

McAdams Transport Ltd. (Registered number: SC515765)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2022 605,888
Additions 232,982
Disposals (64,605 )
At 30 September 2023 774,265
DEPRECIATION
At 1 October 2022 338,569
Charge for year 96,527
Eliminated on disposal (43,028 )
At 30 September 2023 392,068
NET BOOK VALUE
At 30 September 2023 382,197
At 30 September 2022 267,319

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

Totals
£   
COST
At 1 October 2022 439,525
Additions 232,982
Disposals (50,425 )
Transfer to ownership (233,600 )
At 30 September 2023 388,482
DEPRECIATION
At 1 October 2022 238,344
Charge for year 70,645
Eliminated on disposal (34,470 )
Transfer to ownership (168,881 )
At 30 September 2023 105,638
NET BOOK VALUE
At 30 September 2023 282,844
At 30 September 2022 201,181

McAdams Transport Ltd. (Registered number: SC515765)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. LOANS

An analysis of the maturity of loans is given below:

30.9.23 30.9.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 8,257 18,067

6. PROVISIONS FOR LIABILITIES
30.9.23 30.9.22
£    £   
Deferred tax 56,945 42,208

Deferred
tax
£   
Balance at 1 October 2022 42,208
Provided during year 14,737
Balance at 30 September 2023 56,945

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
100 Ordinary 1 100 100

8. ULTIMATE CONTROLLING PARTY

The controlling party is W McAdam.

The ultimate controlling party is W McAdam.