IRIS Accounts Production v24.2.0.383 SC325399 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3253992022-12-31SC3253992023-12-31SC3253992023-01-012023-12-31SC3253992021-12-31SC3253992022-01-012022-12-31SC3253992022-12-31SC325399ns15:Scotland2023-01-012023-12-31SC325399ns14:PoundSterling2023-01-012023-12-31SC325399ns10:Director12023-01-012023-12-31SC325399ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31SC325399ns10:SmallEntities2023-01-012023-12-31SC325399ns10:AuditExemptWithAccountantsReport2023-01-012023-12-31SC325399ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31SC325399ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC325399ns10:FullAccounts2023-01-012023-12-31SC32539912023-01-012023-12-31SC325399ns10:Director22023-01-012023-12-31SC325399ns10:RegisteredOffice2023-01-012023-12-31SC325399ns5:CurrentFinancialInstruments2023-12-31SC325399ns5:CurrentFinancialInstruments2022-12-31SC325399ns5:ShareCapital2023-12-31SC325399ns5:ShareCapital2022-12-31SC325399ns5:RetainedEarningsAccumulatedLosses2023-12-31SC325399ns5:RetainedEarningsAccumulatedLosses2022-12-31SC325399ns5:NetGoodwill2023-01-012023-12-31SC325399ns5:FurnitureFittings2023-01-012023-12-31SC325399ns5:ComputerEquipment2023-01-012023-12-31SC325399ns5:NetGoodwill2022-12-31SC325399ns5:NetGoodwill2023-12-31SC325399ns5:NetGoodwill2022-12-31SC325399ns5:FurnitureFittings2022-12-31SC325399ns5:ComputerEquipment2022-12-31SC325399ns5:FurnitureFittings2023-12-31SC325399ns5:ComputerEquipment2023-12-31SC325399ns5:FurnitureFittings2022-12-31SC325399ns5:ComputerEquipment2022-12-31SC325399ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-31SC325399ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-31SC325399ns5:CurrentFinancialInstruments2023-01-012023-12-31SC325399ns5:Secured2023-12-31SC325399ns5:Secured2022-12-31SC3253991ns10:Director12022-12-31SC3253991ns10:Director12021-12-31SC3253991ns10:Director12023-01-012023-12-31SC3253991ns10:Director12022-01-012022-12-31SC3253991ns10:Director12023-12-31SC3253991ns10:Director12022-12-31
REGISTERED NUMBER: SC325399 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

MCADAM DESIGN (SCOTLAND) LIMITED

MCADAM DESIGN (SCOTLAND) LIMITED (REGISTERED NUMBER: SC325399)






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

Report of the Accountants 7

MCADAM DESIGN (SCOTLAND) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: R T Antczak
A Angus





REGISTERED OFFICE: 70 King Street
Peterhead
Aberdeenshire
AB42 1QJ





REGISTERED NUMBER: SC325399 (Scotland)





ACCOUNTANTS: Goldwells
Goldwells House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN

MCADAM DESIGN (SCOTLAND) LIMITED (REGISTERED NUMBER: SC325399)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,206 3,847
3,206 3,847

CURRENT ASSETS
Stocks 9,425 9,800
Debtors 6 11,068 22,109
20,493 31,909
CREDITORS
Amounts falling due within one year 7 43,215 40,964
NET CURRENT LIABILITIES (22,722 ) (9,055 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(19,516

)

(5,208

)

PROVISIONS FOR LIABILITIES - 734
NET LIABILITIES (19,516 ) (5,942 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (19,616 ) (6,042 )
SHAREHOLDERS' FUNDS (19,516 ) (5,942 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

MCADAM DESIGN (SCOTLAND) LIMITED (REGISTERED NUMBER: SC325399)

BALANCE SHEET - continued
31ST DECEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd September 2024 and were signed on its behalf by:





R T Antczak - Director


MCADAM DESIGN (SCOTLAND) LIMITED (REGISTERED NUMBER: SC325399)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

McAdam Design (Scotland) 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
The turnover shown in the profit and loss account represents the value of all engineering and architectural services during the year, less credits given, at selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the product, such as obsolescence, have been transferred to the customer.

Amortisation
Amortisation is calculated so as to write off the cost of an asset, net of anticipated disposal proceeds, over the estimated useful economic life of that asset as follows:

Goodwill - Over 10 years

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MCADAM DESIGN (SCOTLAND) LIMITED (REGISTERED NUMBER: SC325399)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

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.

Going concern
The director, having made due and careful enquiry, is of the opinion that the company has adequate working capital to execute its operations over the next 12 months. The director, therefore, has made an informed judgement, at the time of approving the financial statements that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result, the director has continued to adopt the going concern basis of accounting in preparing the annual financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 21,960
AMORTISATION
At 1st January 2023
and 31st December 2023 21,960
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st January 2023 4,996 19,064 24,060
Additions - 500 500
Disposals - (1,879 ) (1,879 )
At 31st December 2023 4,996 17,685 22,681
DEPRECIATION
At 1st January 2023 4,906 15,307 20,213
Charge for year 26 978 1,004
Eliminated on disposal - (1,742 ) (1,742 )
At 31st December 2023 4,932 14,543 19,475
NET BOOK VALUE
At 31st December 2023 64 3,142 3,206
At 31st December 2022 90 3,757 3,847

MCADAM DESIGN (SCOTLAND) LIMITED (REGISTERED NUMBER: SC325399)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,024 20,418
Prepayments and accrued income 44 1,691
11,068 22,109

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 29,767 27,687
Trade creditors 1,081 1,280
Social security and other taxes 8,083 8,846
Other creditors 573 573
Directors' current accounts 3,471 58
Accrued expenses 240 2,520
43,215 40,964

The loan to the director is interest free with no fixed terms of repayment.

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 29,767 27,687

The bank overdraft was secured by a fixed and floating charge over all of the company's assets.

9. DIRECTORS' 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
£    £   
R T Antczak
Balance outstanding at start of year (58 ) 4,942
Amounts repaid (3,413 ) (5,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,471 ) (58 )

10. ULTIMATE CONTROLLING PARTY

R T Antczak is the ultimate controlling party by virtue of his shareholding.

MCADAM DESIGN (SCOTLAND) LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
MCADAM DESIGN (SCOTLAND) LIMITED

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 31st December 2023 set out on page nil 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.






Goldwells
Goldwells House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN


23rd September 2024