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Company Registration No. SC644567 (Scotland)
Duncan McLaren Locksmiths Ltd. Unaudited accounts for the year ended 31 October 2023
Duncan McLaren Locksmiths Ltd. Unaudited accounts Contents
Page
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Duncan McLaren Locksmiths Ltd. Company Information for the year ended 31 October 2023
Director
Melanie McSherry
Company Number
SC644567 (Scotland)
Registered Office
29-31 BREAD STREET EDINBURGH EH3 9AL SCOTLAND
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Duncan McLaren Locksmiths Ltd. Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
14,190 
16,555 
Tangible assets
10,792 
14,390 
24,982 
30,945 
Current assets
Inventories
9,133 
8,945 
Debtors
1,808 
2,443 
Cash at bank and in hand
5,348 
14,090 
16,289 
25,478 
Creditors: amounts falling due within one year
(48,960)
(48,914)
Net current liabilities
(32,671)
(23,436)
Total assets less current liabilities
(7,689)
7,509 
Creditors: amounts falling due after more than one year
(10,751)
(19,753)
Net liabilities
(18,440)
(12,244)
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
(19,440)
(13,244)
Shareholders' funds
(18,440)
(12,244)
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 July 2024 and were signed on its behalf by
Melanie McSherry Director Company Registration No. SC644567
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Duncan McLaren Locksmiths Ltd. Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Duncan McLaren Locksmiths Ltd. is a private company, limited by shares, registered in Scotland, registration number SC644567. The registered office is 29-31 BREAD STREET, EDINBURGH, EH3 9AL, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Motor vehicles
25% Reducing balance
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 November 2022
23,650 
At 31 October 2023
23,650 
Amortisation
At 1 November 2022
7,095 
Charge for the year
2,365 
At 31 October 2023
9,460 
Net book value
At 31 October 2023
14,190 
At 31 October 2022
16,555 
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Duncan McLaren Locksmiths Ltd. Notes to the Accounts for the year ended 31 October 2023
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2022
19,000 
15,111 
34,111 
At 31 October 2023
19,000 
15,111 
34,111 
Depreciation
At 1 November 2022
10,985 
8,736 
19,721 
Charge for the year
2,004 
1,594 
3,598 
At 31 October 2023
12,989 
10,330 
23,319 
Net book value
At 31 October 2023
6,011 
4,781 
10,792 
At 31 October 2022
8,015 
6,375 
14,390 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
300 
- 
Trade debtors
1,508 
2,443 
1,808 
2,443 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
6,000 
6,000 
Obligations under finance leases and hire purchase contracts
3,002 
3,002 
Trade creditors
1,117 
- 
Taxes and social security
1,687 
1,021 
Other creditors
154 
265 
Loans from directors
37,000 
38,626 
48,960 
48,914 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
9,500 
15,500 
Obligations under finance leases and hire purchase contracts
1,251 
4,253 
10,751 
19,753 
9
Average number of employees
During the year the average number of employees was 4 (2022: 5).
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