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REGISTERED NUMBER: SC610744 (Scotland)














Unaudited Financial Statements

for the Year Ended 31 January 2024

for

McHugh Madden & Shaw Ltd

McHugh Madden & Shaw Ltd (Registered number: SC610744)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 7

McHugh Madden & Shaw Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: A McHugh
S Shaw
J P Madden
K MCHUGH
J P MADDEN





SECRETARY: K MCHUGH





REGISTERED OFFICE: 76 Hamilton Road
Motherwell
ML1 3BY





REGISTERED NUMBER: SC610744 (Scotland)





ACCOUNTANTS: Gordon Ferguson & Co Ltd
76 Hamilton Road
Motherwell
Lanarkshire
ML1 3BY

McHugh Madden & Shaw Ltd (Registered number: SC610744)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 523,190 627,828
Tangible assets 5 320,317 359,729
843,507 987,557

CURRENT ASSETS
Stocks 105,554 106,964
Debtors 6 83,512 66,762
Cash at bank 220,772 270,131
409,838 443,857
CREDITORS
Amounts falling due within one year 7 347,091 311,948
NET CURRENT ASSETS 62,747 131,909
TOTAL ASSETS LESS CURRENT
LIABILITIES

906,254

1,119,466

CREDITORS
Amounts falling due after more than one
year

8

256,371

312,229
NET ASSETS 649,883 807,237

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 643,090 643,090
Retained earnings 6,693 164,047
649,883 807,237

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2024 and were signed on its behalf by:



K MCHUGH - Director


McHugh Madden & Shaw Ltd (Registered number: SC610744)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

McHugh Madden & Shaw Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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
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 the 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.

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

McHugh Madden & Shaw Ltd (Registered number: SC610744)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

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 37 (2023 - 36 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 1,046,380
AMORTISATION
At 1 February 2023 418,552
Charge for year 104,638
At 31 January 2024 523,190
NET BOOK VALUE
At 31 January 2024 523,190
At 31 January 2023 627,828

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 February 2023 120,000 102,956 106,245
Additions - 20,125 -
At 31 January 2024 120,000 123,081 106,245
DEPRECIATION
At 1 February 2023 - 36,303 34,712
Charge for year - 16,663 17,883
At 31 January 2024 - 52,966 52,595
NET BOOK VALUE
At 31 January 2024 120,000 70,115 53,650
At 31 January 2023 120,000 66,653 71,533

McHugh Madden & Shaw Ltd (Registered number: SC610744)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 91,415 18,564 439,180
Additions - 395 20,520
At 31 January 2024 91,415 18,959 459,700
DEPRECIATION
At 1 February 2023 - 8,436 79,451
Charge for year 22,854 2,532 59,932
At 31 January 2024 22,854 10,968 139,383
NET BOOK VALUE
At 31 January 2024 68,561 7,991 320,317
At 31 January 2023 91,415 10,128 359,729

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2023
and 31 January 2024 91,415
DEPRECIATION
Charge for year 22,854
At 31 January 2024 22,854
NET BOOK VALUE
At 31 January 2024 68,561
At 31 January 2023 91,415

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 65,429 59,219
Other debtors 18,083 7,543
83,512 66,762

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 34,054 34,054
Hire purchase contracts 12,374 12,374
Trade creditors 66,856 45,852
Taxation and social security 58,661 49,522
Other creditors 175,146 170,146
347,091 311,948

McHugh Madden & Shaw Ltd (Registered number: SC610744)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 199,204 243,719
Hire purchase contracts 57,167 68,510
256,371 312,229

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 62,988 107,503

McHugh Madden & Shaw Ltd

Report of the Accountants to the Directors of
McHugh Madden & Shaw Ltd

The following reproduces the text of the report prepared for the directors 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 Directors 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 January 2024 set out on pages two to six 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.






Gordon Ferguson & Co Ltd
76 Hamilton Road
Motherwell
Lanarkshire
ML1 3BY


Date: .............................................