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REGISTERED NUMBER: SC127975 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

McLachlan (Elgin) Limited

McLachlan (Elgin) Limited (Registered number: SC127975)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


McLachlan (Elgin) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mrs E B Bowlt





SECRETARY: Mrs E B Bowlt





REGISTERED OFFICE: c/o Clements
Chartered Accountants
39 St Vincent Place
Glasgow
United Kingdom
G1 2ER





REGISTERED NUMBER: SC127975 (Scotland)





ACCOUNTANTS: Clements
Chartered Accountants
39 St Vincent Place
Glasgow
G1 2ER

McLachlan (Elgin) Limited (Registered number: SC127975)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 499,572 559,975
Investments 6 370,405 477,170
869,977 1,037,145

CURRENT ASSETS
Stocks 168,206 158,758
Debtors 7 319,657 300,163
Investments 8 51,223 50,134
Cash at bank and in hand 133,923 7,300
673,009 516,355
CREDITORS
Amounts falling due within one year 9 221,647 324,323
NET CURRENT ASSETS 451,362 192,032
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,321,339

1,229,177

PROVISIONS FOR LIABILITIES 55,085 54,185
NET ASSETS 1,266,254 1,174,992

CAPITAL AND RESERVES
Called up share capital 101 101
Share premium 10 298 298
Capital redemption reserve 10 101 101
Retained earnings 10 1,265,754 1,174,492
SHAREHOLDERS' FUNDS 1,266,254 1,174,992

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

McLachlan (Elgin) Limited (Registered number: SC127975)

Balance Sheet - continued
31 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2024 and were signed by:





Mrs E B Bowlt - Director


McLachlan (Elgin) Limited (Registered number: SC127975)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

McLachlan (Elgin) 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.

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 as modified by the revaluation of certain assets.

Turnover
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts. Revenue is recognised when the company has the right to receive it.

Goodwill
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill- 100% on cost

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.
Freehold land and buildings - 4% on cost
Improvements to property - 15% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and selling price less costs to complete and sell.

Financial instruments
The company only has basic financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current 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.
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

McLachlan (Elgin) Limited (Registered number: SC127975)

Notes to the Financial Statements - continued
for the Year Ended 31 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.

Investments
Listed investments held as both fixed and current assets, are recognised at fair value which is the equivalent to market value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 10,500
AMORTISATION
At 1 January 2023
and 31 December 2023 10,500
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 237,427 1,731,660 1,969,087
Additions - 50,198 50,198
At 31 December 2023 237,427 1,781,858 2,019,285
DEPRECIATION
At 1 January 2023 104,456 1,304,656 1,409,112
Charge for year 9,496 101,105 110,601
At 31 December 2023 113,952 1,405,761 1,519,713
NET BOOK VALUE
At 31 December 2023 123,475 376,097 499,572
At 31 December 2022 132,971 427,004 559,975

McLachlan (Elgin) Limited (Registered number: SC127975)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 302 476,868 477,170
Additions - 10,011 10,011
Disposals - (81,782 ) (81,782 )
Revaluations - (34,994 ) (34,994 )
At 31 December 2023 302 370,103 370,405
NET BOOK VALUE
At 31 December 2023 302 370,103 370,405
At 31 December 2022 302 476,868 477,170

Cost or valuation at 31 December 2023 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2016 - 11,512 11,512
Valuation in 2017 - (1,539 ) (1,539 )
Valuation in 2018 - (20,261 ) (20,261 )
Valuation in 2019 - 19,961 19,961
Valuation in 2020 - 17,417 17,417
Valuation in 2021 - 16,387 16,387
Valuation in 2022 - (3,244 ) (3,244 )
Valuation in 2023 - (40,835 ) (40,835 )
Cost 302 370,705 371,007
302 370,103 370,405

7. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 96,970 66,646
Other debtors 19,786 25,075
116,756 91,721

Amounts falling due after more than one year:
Other debtors 202,901 208,442

Aggregate amounts 319,657 300,163

Included in other debtors is the director's loan account which is unsecured, interest free and repayable on demand.

McLachlan (Elgin) Limited (Registered number: SC127975)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CURRENT ASSET INVESTMENTS
31.12.23 31.12.22
£    £   
Listed investments 51,223 50,134

Current asset investments are stated at fair value at 31st December 2023.

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 119,773 129,365
Taxation and social security 81,441 39,658
Other creditors 20,433 155,300
221,647 324,323

Included in other creditors is the director's loan account which is unsecured, interest free and repayable on demand.

10. RESERVES

Retained earnings include undistributable reserves at 31st December 2023 of (£23,402) (2022 - £20,278).

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £7,500 (2022 - £15,000) were paid to the director .