2022-12-012023-11-302023-11-30falseSC047307THOMAS MUIR (METALS) 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THOMAS MUIR (METALS) LIMITED

Registered Number
SC047307
(Scotland)

Unaudited Financial Statements for the Year ended
30 November 2023

THOMAS MUIR (METALS) LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

George Muir
Thomas Muir

Company Secretary

George Muir

Registered Address

Dunnikier Works Den Road
Kirkcaldy
KY1 2ER

Registered Number

SC047307 (Scotland)
THOMAS MUIR (METALS) LIMITED
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets330,61830,618
Tangible assets412,8795,172
Investments521,42921,429
64,92657,219
Current assets
Stocks300,087365,822
Debtors62,042,1552,036,092
Cash at bank and on hand182,72316,274
2,524,9652,418,188
Creditors amounts falling due within one year7(974,250)(861,647)
Net current assets (liabilities)1,550,7151,556,541
Total assets less current liabilities1,615,6411,613,760
Provisions for liabilities(2,447)(983)
Net assets1,613,1941,612,777
Capital and reserves
Called up share capital400400
Profit and loss account1,612,7941,612,377
Shareholders' funds1,613,1941,612,777
The financial statements were approved and authorised for issue by the Board of Directors on 29 August 2024, and are signed on its behalf by:
Thomas Muir
Director
Registered Company No. SC047307
THOMAS MUIR (METALS) LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover represents the total invoice value of sales, excluding vat, made during the year.
Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the companys pension scheme are charged to profit or loss in the period to which they relate.
Current 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.
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. The intangible fixed asset comprises several personalised car number plates which are recorded at cost. The directors consider these number plates to have an indefinite useful life. As such no amortisation is charged but the carrying value is subject to an annual impairment review in accordance with the requirements of FRS11.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Long leasehold - straight line over period of lease Plant and machinery - 33.3% on cost, 20% on cost and 16.67% on cost Motor vehicles - 25% on reducing balance
Investments
Fixed asset investments are stated at cost less provision for any diminution in value.
Stocks and work in progress
Stock, which comprises of scrap metal and goods for resale, are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost comprises all direct expenditure incurred in bringing stock to its current location and condition.
2.Average number of employees

20232022
Average number of employees during the year77
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 December 2230,61830,618
At 30 November 2330,61830,618
Net book value
At 30 November 2330,61830,618
At 30 November 2230,61830,618
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 December 22104,811259,25719,200383,268
Additions--12,00012,000
At 30 November 23104,811259,25731,200395,268
Depreciation and impairment
At 01 December 22104,811259,25714,028378,096
Charge for year--4,2934,293
At 30 November 23104,811259,25718,321382,389
Net book value
At 30 November 23--12,87912,879
At 30 November 22--5,1725,172
5.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 December 2221,42921,429
At 30 November 2321,42921,429
Net book value
At 30 November 2321,42921,429
At 30 November 2221,42921,429

Notes

1Other investments other than loans
6.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables843,121639,392
Other debtors1,189,3491,394,342
Prepayments and accrued income9,6852,358
Total2,042,1552,036,092
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables48,405219,132
Taxation and social security72,14595,906
Other creditors850,271543,543
Accrued liabilities and deferred income3,4293,066
Total974,250861,647