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REGISTERED NUMBER: SC662813 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

MCGREGOR MEMORIALS LTD

MCGREGOR MEMORIALS LTD (REGISTERED NUMBER: SC662813)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MCGREGOR MEMORIALS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Robert McGregor
Paul McGregor





REGISTERED OFFICE: 1 Leask Road
Forres
Moray
IV36 1SW





REGISTERED NUMBER: SC662813 (Scotland)

MCGREGOR MEMORIALS LTD (REGISTERED NUMBER: SC662813)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 24,711 13,999

CURRENT ASSETS
Stocks 7,213 6,440
Debtors 6 27,246 6,575
Cash at bank 11,548 5,072
46,007 18,087
CREDITORS
Amounts falling due within one year 7 50,247 28,256
NET CURRENT LIABILITIES (4,240 ) (10,169 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,471

3,830

CREDITORS
Amounts falling due after more than one
year

8

(14,420

)

-

PROVISIONS FOR LIABILITIES (5,043 ) (1,768 )
NET ASSETS 1,008 2,062

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 908 1,962
SHAREHOLDERS' FUNDS 1,008 2,062

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

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

MCGREGOR MEMORIALS LTD (REGISTERED NUMBER: SC662813)

BALANCE SHEET - continued
30 JUNE 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 4 April 2024 and were signed on its behalf by:





Paul McGregor - Director


MCGREGOR MEMORIALS LTD (REGISTERED NUMBER: SC662813)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

McGregor Memorials 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors consider that there are no estimates and underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities.

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 etc - 20% on reducing balance

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.


MCGREGOR MEMORIALS LTD (REGISTERED NUMBER: SC662813)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

3. ACCOUNTING POLICIES - continued
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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

MCGREGOR MEMORIALS LTD (REGISTERED NUMBER: SC662813)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 17,928
Additions 20,915
Disposals (6,495 )
At 30 June 2023 32,348
DEPRECIATION
At 1 July 2022 3,929
Charge for year 5,421
Eliminated on disposal (1,713 )
At 30 June 2023 7,637
NET BOOK VALUE
At 30 June 2023 24,711
At 30 June 2022 13,999

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

Plant and
machinery
etc
£   
COST
Additions 14,870
At 30 June 2023 14,870
DEPRECIATION
Charge for year 2,535
At 30 June 2023 2,535
NET BOOK VALUE
At 30 June 2023 12,335

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 677 5,925
Other debtors 26,569 650
27,246 6,575

MCGREGOR MEMORIALS LTD (REGISTERED NUMBER: SC662813)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 4,161 -
Trade creditors 10,052 7,041
Taxation and social security 22,684 10,088
Other creditors 13,350 11,127
50,247 28,256

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 8,014 -
Other creditors 6,406 -
14,420 -

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 4,161 -
Between one and five years 8,014 -
12,175 -

Non-cancellable operating leases
2023 2022
£    £   
Between one and five years - 30,891

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
Robert McGregor
Balance outstanding at start of year - -
Amounts advanced 16,289 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,289 -

MCGREGOR MEMORIALS LTD (REGISTERED NUMBER: SC662813)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Paul McGregor
Balance outstanding at start of year - -
Amounts advanced 9,630 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,630 -

11. ULTIMATE CONTROLLING PARTY

The company is under the joint control of P McGregor and R McGregor (the directors).