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REGISTERED NUMBER: SC433484 (Scotland)















Financial Statements For The Year Ended 30 November 2023

for

Buchanan Mechanical Services Limited

Buchanan Mechanical Services Limited (Registered number: SC433484)






Contents of the Financial Statements
For The Year Ended 30 November 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Buchanan Mechanical Services Limited

Company Information
For The Year Ended 30 November 2023







DIRECTORS: Mrs L Buchanan
Mr S D Buchanan





REGISTERED OFFICE: c/o Robb Ferguson
Regent Court, 70 West Regent Street
GLASGOW
G2 2QZ





REGISTERED NUMBER: SC433484 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Buchanan Mechanical Services Limited (Registered number: SC433484)

Abridged Statement of Financial Position
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 60,626 52,111

CURRENT ASSETS
Stocks 33,000 33,000
Debtors 446,850 825,819
Cash at bank and in hand 234,056 223,148
713,906 1,081,967
CREDITORS
Amounts falling due within one year 401,719 726,780
NET CURRENT ASSETS 312,187 355,187
TOTAL ASSETS LESS CURRENT
LIABILITIES

372,813

407,298

CREDITORS
Amounts falling due after more than one
year

(38,352

)

(48,028

)

PROVISIONS FOR LIABILITIES (15,156 ) (13,028 )
NET ASSETS 319,305 346,242

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 319,303 346,240
SHAREHOLDERS' FUNDS 319,305 346,242

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

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

Buchanan Mechanical Services Limited (Registered number: SC433484)

Abridged Statement of Financial Position - continued
30 November 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 30 November 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





Mrs L Buchanan - Director


Buchanan Mechanical Services Limited (Registered number: SC433484)

Notes to the Financial Statements
For The Year Ended 30 November 2023

1. STATUTORY INFORMATION

Buchanan Mechanical Services 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.

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


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 stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the statement of financial position date turnover represents the value of the service provided to the date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

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.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 15% on reducing balance

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

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the statement of comprehensive income. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the statement of comprehensive income.


Buchanan Mechanical Services Limited (Registered number: SC433484)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive income.

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 statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position. 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 the statement of comprehensive income over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the statement of comprehensive income over the period of the lease.

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 the statement of comprehensive income in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 18 ) .

Buchanan Mechanical Services Limited (Registered number: SC433484)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2022 89,570
Additions 32,190
Disposals (19,245 )
At 30 November 2023 102,515
DEPRECIATION
At 1 December 2022 37,459
Charge for year 13,068
Eliminated on disposal (8,638 )
At 30 November 2023 41,889
NET BOOK VALUE
At 30 November 2023 60,626
At 30 November 2022 52,111


5. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 12,565 16,003
Between one and five years 23,352 22,521
35,917 38,524

Non-cancellable operating leases
2023 2022
£    £   
Within one year 3,376 4,933