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REGISTERED NUMBER: SC163310 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

McColl's Travel Limited

McColl's Travel Limited (Registered number: SC163310)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


McColl's Travel Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: W McColl





SECRETARY: Mrs S A McColl





REGISTERED OFFICE: Block 4
Vale Of Leven Industrial Estate
Dumbarton
G82 3PD





REGISTERED NUMBER: SC163310 (Scotland)





ACCOUNTANTS: Bell Barr & Company
Chartered Accountants
2 Stewart Street
Milngavie
Glasgow
G62 6BW

McColl's Travel Limited (Registered number: SC163310)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,004,573 850,541

CURRENT ASSETS
Debtors 5 141,314 149,449
Cash at bank 143,433 84,401
284,747 233,850
CREDITORS
Amounts falling due within one year 6 730,101 416,266
NET CURRENT LIABILITIES (445,354 ) (182,416 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

559,219

668,125

CREDITORS
Amounts falling due after more than one
year

7

553,214

468,928
NET ASSETS 6,005 199,197

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 6,002 199,194
SHAREHOLDERS' FUNDS 6,005 199,197

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

McColl's Travel Limited (Registered number: SC163310)

Balance Sheet - continued
31 May 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 August 2024 and were signed by:





W McColl - Director


McColl's Travel Limited (Registered number: SC163310)

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

1. STATUTORY INFORMATION

McColl's Travel 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.

The directors have reviewed the company's operating costs for the next twelve months, and the sources of funds available, and are satisfied that the company is a going concern.

Turnover
Turnover represents gross revenue earned for road passenger transport together with amounts receivable for other services supplied in the ordinary course of business, excluding value added tax.

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 - 10% on reducing balance
Commercial vehicles - 15% on reducing balance
Computer equipment - 33% on reducing balance

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

McColl's Travel Limited (Registered number: SC163310)

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

2. ACCOUNTING POLICIES - continued

Cash at bank
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the account.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Commercial Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 185,148 5,422 1,039,572 66,982 1,297,124
Additions - - 324,850 2,521 327,371
At 31 May 2023 185,148 5,422 1,364,422 69,503 1,624,495
DEPRECIATION
At 1 June 2022 69,386 2,360 318,040 56,797 446,583
Charge for year 11,577 612 156,957 4,193 173,339
At 31 May 2023 80,963 2,972 474,997 60,990 619,922
NET BOOK VALUE
At 31 May 2023 104,185 2,450 889,425 8,513 1,004,573
At 31 May 2022 115,762 3,062 721,532 10,185 850,541

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 11,965 7,110
Other debtors 129,349 142,339
141,314 149,449

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 5,556 6,756
Hire purchase contracts 180,193 135,026
Trade creditors 168,664 106,195
Taxation and social security 308 47,340
Other creditors 375,380 120,949
730,101 416,266

McColl's Travel Limited (Registered number: SC163310)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 33,333 37,337
Hire purchase contracts 519,881 431,591
553,214 468,928

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
W McColl
Balance outstanding at start of year 41,857 52,607
Amounts repaid (29,640 ) (10,750 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,217 41,857