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REGISTERED NUMBER: SC549148 (Scotland)











































McCran Contractors Limited

Unaudited Financial Statements

for the Year Ended 30th November 2023






McCran Contractors Limited (Registered number: SC549148)






Contents of the Financial Statements
for the year ended 30th November 2023




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 7


McCran Contractors Limited

Company Information
for the year ended 30th November 2023







Directors: Mrs M C Thomson
L McCran





Registered office: Sawmill Cottage
Gordon
Berwickshire
TD3 6LG





Registered number: SC549148 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

McCran Contractors Limited (Registered number: SC549148)

Balance Sheet
30th November 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 184,449 175,479

Current assets
Stocks 28,019 7,500
Debtors 5 2,602 16,033
Cash at bank 7 2,483
30,628 26,016
Creditors
Amounts falling due within one year 6 60,026 50,865
Net current liabilities (29,398 ) (24,849 )
Total assets less current liabilities 155,051 150,630

Creditors
Amounts falling due after more than one
year

7

(80,095

)

(82,866

)

Provisions for liabilities (7,560 ) (7,697 )
Net assets 67,396 60,067

Capital and reserves
Called up share capital 1 1
Retained earnings 67,395 60,066
67,396 60,067

McCran Contractors Limited (Registered number: SC549148)

Balance Sheet - continued
30th November 2023


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

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

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th July 2024 and were signed on its behalf by:





Mrs M C Thomson - Director


McCran Contractors Limited (Registered number: SC549148)

Notes to the Financial Statements
for the year ended 30th November 2023

1. Statutory information

McCran Contractors 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 and represents amounts receivable for goods supplied and joinery services rendered, stated net of discounts and of Value Added Tax.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.Turnover arising from the provision of joinery services is recognised as contract activity progresses and the right to consideration is earned.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, bank overdrafts, bank loans, hire purchase contracts and directors' loans.

Bank loans and hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest rate method.

Directors' loans (being repayable on demand), trade debtors, trade creditors, accruals and bank overdrafts are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.


McCran Contractors Limited (Registered number: SC549148)

Notes to the Financial Statements - continued
for the year ended 30th November 2023

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings, 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 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.

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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the statement of income and retained earnings in the period in which they are incurred.

Going concern
The directors have considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and have an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

McCran Contractors Limited (Registered number: SC549148)

Notes to the Financial Statements - continued
for the year ended 30th November 2023

4. Tangible fixed assets
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1st December 2022 180,020 69,042 860 249,922
Additions 13,065 29,438 - 42,503
At 30th November 2023 193,085 98,480 860 292,425
Depreciation
At 1st December 2022 41,036 33,055 352 74,443
Charge for year 21,379 11,939 215 33,533
At 30th November 2023 62,415 44,994 567 107,976
Net book value
At 30th November 2023 130,670 53,486 293 184,449
At 30th November 2022 138,984 35,987 508 175,479

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 300 300
Other debtors 2,302 15,733
2,602 16,033

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 17,649 5,861
Hire purchase contracts 28,831 28,239
Trade creditors 9,610 10,064
Taxation and social security 981 3,781
Other creditors 2,955 2,920
60,026 50,865

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Hire purchase contracts 70,688 67,442
Other creditors 9,407 15,424
80,095 82,866

McCran Contractors Limited (Registered number: SC549148)

Notes to the Financial Statements - continued
for the year ended 30th November 2023

8. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 99,519 95,681

Hire purchase contracts are secured against the assets to which they relate.

9. Directors' advances, credits and guarantees

The following advances and credits to the directors subsisted during the years ended 30th November 2023 and 30th November 2022:
20232022
Director 1
Balance outstanding at start of year12,1227,688
Amounts advanced3,30012,750
Amount repaid(13,277)(8,520)
Interest 157204
Balance outstanding at end of year2,30212,122


This loan is unsecured, interest has been charged at the official rates published by HMRC, and is repayable on demand.

10. Post balance sheet events

Since the year end, on 22nd July 2024, an interim dividend for the year ending 30th November 2024 of £4,000 per share has been declared.