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REGISTERED NUMBER: SC518432















MCINTOSH & ROBERTSON LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024






MCINTOSH & ROBERTSON LIMITED (REGISTERED NUMBER: SC518432)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


MCINTOSH & ROBERTSON LIMITED (REGISTERED NUMBER: SC518432)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,000 15,000
Tangible assets 5 125,536 196,934
135,536 211,934

CURRENT ASSETS
Stocks 30,500 41,575
Debtors 6 141,499 107,416
171,999 148,991
CREDITORS
Amounts falling due within one year 7 261,117 334,039
NET CURRENT LIABILITIES (89,118 ) (185,048 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,418

26,886

CREDITORS
Amounts falling due after more than one
year

8

70,494

85,212
NET LIABILITIES (24,076 ) (58,326 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (24,078 ) (58,328 )
(24,076 ) (58,326 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

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

MCINTOSH & ROBERTSON LIMITED (REGISTERED NUMBER: SC518432)

BALANCE SHEET - continued
30 APRIL 2024


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 Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:




Mrs S A Robertson - Director



D S Robertson - Director


MCINTOSH & ROBERTSON LIMITED (REGISTERED NUMBER: SC518432)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

McIntosh & Robertson Limited is a private company, limited by shares, registered in Scotland. The company's registered office is Gellyburn Quarry, Murthly, Perth, Scotland, PH1 4HJ.

The presentation currency of the financial statements is Sterling (£)

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. There were no material departures from that standard.

Significant judgements and estimates
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider that there are no such significant judgements.

Turnover
Turnover represents the invoice value of goods sold and services rendered during the year, exclusive of value added tax. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the goods and services have been passed to the buyer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over it's estimated useful life of 10 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 the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance

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

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

Government grants
Government grants of a capital nature are taken to a separate deferred income account and released to the profit and loss account in accordance with the company's depreciation policy over the useful economic life of the asset concerned. Government grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

MCINTOSH & ROBERTSON LIMITED (REGISTERED NUMBER: SC518432)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at lower of cost and estimated selling price less costs to sell after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from related parties, bank loans and other third parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

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 recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

MCINTOSH & ROBERTSON LIMITED (REGISTERED NUMBER: SC518432)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 50,000
AMORTISATION
At 1 May 2023 35,000
Charge for year 5,000
At 30 April 2024 40,000
NET BOOK VALUE
At 30 April 2024 10,000
At 30 April 2023 15,000

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 103,387 263,828 367,215
Additions - 1 1
Disposals - (102,170 ) (102,170 )
At 30 April 2024 103,387 161,659 265,046
DEPRECIATION
At 1 May 2023 8,271 162,010 170,281
Charge for year 2,067 10,830 12,897
Eliminated on disposal - (43,668 ) (43,668 )
At 30 April 2024 10,338 129,172 139,510
NET BOOK VALUE
At 30 April 2024 93,049 32,487 125,536
At 30 April 2023 95,116 101,818 196,934

The net book value of fixed assets held under finance leases was Nil (2023:57,450)

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 123,790 106,670
Other debtors 17,709 746
141,499 107,416

MCINTOSH & ROBERTSON LIMITED (REGISTERED NUMBER: SC518432)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 32,198 39,812
Hire purchase contracts 11,942 31,169
Trade creditors 27,801 54,165
Taxation and social security 24,315 44,051
Other creditors 164,861 164,842
261,117 334,039

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 70,494 73,270
Hire purchase contracts - 11,942
70,494 85,212

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 21,598 -
Hire purchase contracts 11,942 43,111
Bank loans 102,692 -
Hire purchase contracts 11,942 -
148,174 43,111

The bank loans are secured over the property. The hire purchase contracts included in creditors are secured over the assets to whick they relate.