1 November 2022 false No description of principal activity Taxfiler 2024.4 SC211542business:PrivateLimitedCompanyLtd2022-11-012023-10-31 SC2115422022-10-31 SC2115422022-11-012023-10-31 SC211542business:AuditExemptWithAccountantsReport2022-11-012023-10-31 SC211542business:FilletedAccounts2022-11-012023-10-31 SC2115422023-10-31 SC211542business:Director12022-11-012023-10-31 SC211542business:RegisteredOffice2022-11-012023-10-31 SC2115422022-10-31 SC211542core:WithinOneYear2023-10-31 SC211542core:WithinOneYear2022-10-31 SC211542core:ShareCapitalcore:PreviouslyStatedAmount2023-10-31 SC211542core:ShareCapitalcore:PreviouslyStatedAmount2022-10-31 SC211542core:RevaluationReservecore:PreviouslyStatedAmount2023-10-31 SC211542core:RevaluationReservecore:PreviouslyStatedAmount2022-10-31 SC211542core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-10-31 SC211542core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-10-31 SC211542core:PreviouslyStatedAmount2023-10-31 SC211542core:PreviouslyStatedAmount2022-10-31 SC211542business:SmallEntities2022-11-012023-10-31 SC211542countries:Scotland2022-11-012023-10-31 SC211542business:OrdinaryShareClass12022-11-012023-10-31 SC211542business:OrdinaryShareClass12021-11-012022-10-31 SC2115422021-11-012022-10-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. SC211542 (Scotland)
McLAUGHLIN AYR LIMITED Unaudited accounts for the year ended 31 October 2023
McLAUGHLIN AYR LIMITED Unaudited accounts Contents
Page
- 2 -
McLAUGHLIN AYR LIMITED Company Information for the year ended 31 October 2023
Director
Adam McLaughlin
Company Number
SC211542 (Scotland)
Registered Office
2a Taylor Street Ayr Ayrshire KA8 8AU
Accountants
McMorland & Co FTCA Limited 24 York Street Ayr KA8 8AZ
- 3 -
McLAUGHLIN AYR LIMITED Accountants' report
Accountants' report to the director of McLAUGHLIN AYR LIMITED on the preparation of the unaudited statutory accounts for the year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of McLAUGHLIN AYR LIMITED for the year ended 31 October 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of McLAUGHLIN AYR LIMITED, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of McLAUGHLIN AYR LIMITED and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than McLAUGHLIN AYR LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that McLAUGHLIN AYR LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of McLAUGHLIN AYR LIMITED. You consider that McLAUGHLIN AYR LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of McLAUGHLIN AYR LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
McMorland & Co FTCA Limited 24 York Street Ayr KA8 8AZ 29 July 2024
- 4 -
McLAUGHLIN AYR LIMITED Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Inventories
94,512 
- 
Debtors
28,511 
858 
Cash at bank and in hand
142,530 
6,654 
265,553 
7,512 
Creditors: amounts falling due within one year
(215,957)
- 
Net current assets
49,596 
7,512 
Net assets
49,596 
7,512 
Capital and reserves
Called up share capital
1,000 
1,000 
Revaluation reserve
- 
250 
Profit and loss account
48,596 
6,262 
Shareholders' funds
49,596 
7,512 
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 his 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 29 July 2024 and were signed on its behalf by
Adam McLaughlin Director Company Registration No. SC211542
- 5 -
McLAUGHLIN AYR LIMITED Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
McLAUGHLIN AYR LIMITED is a private company, limited by shares, registered in Scotland, registration number SC211542. The registered office is 2a Taylor Street, Ayr, Ayrshire, KA8 8AU.
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
These financial statements for the year ended 31 October 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 November 2021
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Work in Progress
Work in progress is valued at the lower of cost and net realisable value.
Taxation
Taxation for the year comprises current 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 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.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
7,458 
- 
Accrued income and prepayments
17,985 
- 
Other debtors
3,068 
858 
28,511 
858 
- 6 -
McLAUGHLIN AYR LIMITED Notes to the Accounts for the year ended 31 October 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
110,956 
- 
Taxes and social security
69,037 
- 
Other creditors
22,876 
- 
Loans from directors
250 
- 
Accruals
12,838 
- 
215,957 
- 
6
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000 
1,000 
7
Transactions with related parties
Adam McLaughlin Joinery Limited, a company in which Mr McLaughlin is a director and shareholder of, charges the company for the use of assets. They also purchase goods and pay for services on behalf of the company and charge the company for them. At the year end, the company owed Adam McLaughlin Joinery Limited £65,353. This has since been repaid in full.
8
Average number of employees
During the year the average number of employees was 13 (2022: 1).
9
Reconciliations on adoption of FRS 102
These financial statements for the year ended 31 October 2023 are the first financial statements of McLaughlin Ayr Limited that comply with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition was 1 November 2021. The transition has resulted in no changes to those used previously.
- 7 -