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REGISTERED NUMBER: SC610508 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

David Edward McGregor Limited

David Edward McGregor Limited (Registered number: SC610508)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

David Edward McGregor Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: Mr David Edward McGregor





REGISTERED OFFICE: 2nd Floor
22-24 Blythswood Square
Glasgow
G2 4BG





REGISTERED NUMBER: SC610508 (Scotland)





ACCOUNTANTS: Wallace White Accountants
2nd Floor
22-24 Blythswood Square
Glasgow
G2 4BG

David Edward McGregor Limited (Registered number: SC610508)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 223,406 270,449

CURRENT ASSETS
Stocks 8,029 10,676
Debtors 5 91,645 332,394
Cash in hand 444 -
100,118 343,070
CREDITORS
Amounts falling due within one year 6 360,520 436,676
NET CURRENT LIABILITIES (260,402 ) (93,606 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(36,996

)

176,843

CREDITORS
Amounts falling due after more than one year 7 70,753 137,517
NET (LIABILITIES)/ASSETS (107,749 ) 39,326

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (107,750 ) 39,325
(107,749 ) 39,326

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

David Edward McGregor Limited (Registered number: SC610508)

Balance Sheet - continued
31 October 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 director and authorised for issue on 25 July 2024 and were signed by:





Mr David Edward McGregor - Director


David Edward McGregor Limited (Registered number: SC610508)

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

1. STATUTORY INFORMATION

David Edward McGregor 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 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.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

David Edward McGregor Limited (Registered number: SC610508)

Notes to the Financial Statements - continued
for the Year Ended 31 October 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 12 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 412,847
Additions 58,130
Disposals (81,213 )
At 31 October 2023 389,764
DEPRECIATION
At 1 November 2022 142,398
Charge for year 58,484
Eliminated on disposal (34,524 )
At 31 October 2023 166,358
NET BOOK VALUE
At 31 October 2023 223,406
At 31 October 2022 270,449

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 75,598 275,605
Other debtors 16,047 56,789
91,645 332,394

David Edward McGregor Limited (Registered number: SC610508)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 70,071 31,959
Hire purchase contracts 48,843 77,689
Trade creditors 137,197 242,264
Taxation and social security 86,231 (5,539 )
Other creditors 18,178 90,303
360,520 436,676

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 6,215 19,548
Hire purchase contracts 64,538 117,969
70,753 137,517

David Edward McGregor Limited

Report of the Accountants to the Director of
David Edward McGregor Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 October 2023 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Wallace White Accountants
2nd Floor
22-24 Blythswood Square
Glasgow
G2 4BG


25 July 2024