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REGISTERED NUMBER: SC087263 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Diack And Macaulay Limited

Diack And Macaulay Limited (Registered number: SC087263)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Diack And Macaulay Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: J M Diack
S J Diack





REGISTERED OFFICE: 7 Gartferry Road
Moodiesburn
Chryston
Glasgow
G69 0LY





REGISTERED NUMBER: SC087263 (Scotland)





ACCOUNTANTS: MacMillan Craig
Chartered Accountants
100 Brand Street
Glasgow
G51 1DG

Diack And Macaulay Limited (Registered number: SC087263)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 864,740 565,276

CURRENT ASSETS
Stocks 50,000 15,000
Debtors 5 1,231,420 1,288,757
Cash at bank and in hand 2,681,198 2,140,070
3,962,618 3,443,827
CREDITORS
Amounts falling due within one year 6 1,451,277 1,088,493
NET CURRENT ASSETS 2,511,341 2,355,334
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,376,081

2,920,610

CREDITORS
Amounts falling due after more than one
year

7

(40,201

)

-

PROVISIONS FOR LIABILITIES (206,000 ) (106,000 )
NET ASSETS 3,129,880 2,814,610

CAPITAL AND RESERVES
Called up share capital 40,486 74,486
Capital redemption reserve 60,856 26,856
Retained earnings 3,028,538 2,713,268
SHAREHOLDERS' FUNDS 3,129,880 2,814,610

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

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

Diack And Macaulay Limited (Registered number: SC087263)

Balance Sheet - continued
31 May 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 22 February 2024 and were signed on its behalf by:




S J Diack - Director



J M Diack - Director


Diack And Macaulay Limited (Registered number: SC087263)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Diack And Macaulay Limited 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 the invoiced value of goods and services supplied, excluding value added tax, except in the case of long term contracts, where it represents the sales value of work done in the year.

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 - 33% on cost, 25% on cost and 12.5% on cost

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

Amounts recoverable on contracts, which consist of cost plus profit attributable to the stage of completion, less losses foreseen and progress payments receivable, are included in debtors.

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.

Diack And Macaulay Limited (Registered number: SC087263)

Notes to the Financial Statements - continued
for the Year Ended 31 May 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 27 (2022 - 24 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 1,198,922
Additions 461,576
Disposals (48,975 )
At 31 May 2023 1,611,523
DEPRECIATION
At 1 June 2022 633,646
Charge for year 145,166
Eliminated on disposal (32,029 )
At 31 May 2023 746,783
NET BOOK VALUE
At 31 May 2023 864,740
At 31 May 2022 565,276

Diack And Macaulay Limited (Registered number: SC087263)

Notes to the Financial Statements - continued
for the Year Ended 31 May 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 June 2022 29,350
Additions 138,072
Transfer to ownership (29,350 )
At 31 May 2023 138,072
DEPRECIATION
At 1 June 2022 9,783
Charge for year 11,937
Transfer to ownership (9,783 )
At 31 May 2023 11,937
NET BOOK VALUE
At 31 May 2023 126,135
At 31 May 2022 19,567

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 193,763 101,296
Amounts recoverable on contract 863,240 1,131,036
Other debtors 20,791 7,757
VAT 142,109 45,946
Prepayments 11,517 2,722
1,231,420 1,288,757

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Hire purchase contracts 26,293 2,944
Trade creditors 890,509 763,570
Tax 285,000 186,000
Social security and other taxes 34,211 26,677
Other creditors 5,597 7,757
Directors' current accounts - 807
Accrued expenses 209,667 100,738
1,451,277 1,088,493

Diack And Macaulay Limited (Registered number: SC087263)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Hire purchase contracts 40,201 -

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Hire purchase contracts 66,494 2,944

Bank overdrafts and loans are secured by a floating charge over all the assets of the company.

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £208,000 were paid to the directors .

10. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors, S J Diack and J M Diack.