REGISTERED NUMBER: |
MCCRINDLE GROUP LIMITED |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 |
REGISTERED NUMBER: |
MCCRINDLE GROUP LIMITED |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 |
MCCRINDLE GROUP LIMITED (REGISTERED NUMBER: SC043738) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MCCRINDLE GROUP LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
11 Portland Road |
Kilmarnock |
Ayrshire |
KA1 2BT |
BANKERS: |
69 High Street |
Irvine |
KA12 0AL |
MCCRINDLE GROUP LIMITED (REGISTERED NUMBER: SC043738) |
BALANCE SHEET |
31ST DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 10 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
MCCRINDLE GROUP LIMITED (REGISTERED NUMBER: SC043738) |
BALANCE SHEET - continued |
31ST DECEMBER 2023 |
The financial statements were approved by the director and authorised for issue on |
MCCRINDLE GROUP LIMITED (REGISTERED NUMBER: SC043738) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
1. | STATUTORY INFORMATION |
McCrindle Group Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1st January 2023 |
Additions |
At 31st December 2023 |
DEPRECIATION |
At 1st January 2023 |
Charge for year |
At 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
MCCRINDLE GROUP LIMITED (REGISTERED NUMBER: SC043738) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
The director has considered the fair value of the company's freehold properties at the balance sheet date as follows: |
Property at Kilmarnock - £400,000 |
Property at Ardrossan - £1,680,000 |
This assessment takes into consideration an external valuation of part of the Ardrossan property which was carried out by Alistair G. Paterson, FRICS, on 14 September 2021. |
This was in respect of the fair value of the existing property lease with a third party which was reported at £680,000 as at 31 December 2020. The valuation of the Ardrossan property also takes into consideration an adjacent residential development site which was valued by the director at £1,000,000 as at 31st December 2021 and retained at that level at the 2023 balance sheet date. |
The valuation of the Kilmarnock property has been retained at the previous valuation taking into consideration the existing lease with a third party. This valuation was fully realised in a property sale since the balance sheet date. |
The formal title to the land in respect of the above properties is held by the wholly owned subsidiary company, McCrindle Tooling Limited (SC058557). |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st January 2023 |
and 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
MCCRINDLE GROUP LIMITED (REGISTERED NUMBER: SC043738) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Amounts owed to group undertakings |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
10. | RESERVES |
Revaluation |
reserve |
£ |
At 1st January 2023 |
and 31st December 2023 |
11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31st December 2023 and 31st December 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The loan balance includes interest charged by the company of £437 and has been fully repaid during April 2024. |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Mr W R McCrindle MBE who owns 60% of the share capital. |