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REGISTERED NUMBER: SC387053 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

MC Stores Limited

MC Stores Limited (Registered number: SC387053)






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


MC Stores Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: I Mitchell
G R Colvan FCCA
Mrs A Mitchell
Mrs L M Colvan





SECRETARY: G R Colvan FCCA





REGISTERED OFFICE: 9 Glencraig Street
Drongan
Ayr
Ayrshire
KA6 7AS





REGISTERED NUMBER: SC387053 (Scotland)






MC Stores Limited (Registered number: SC387053)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 214,755 93,881

CURRENT ASSETS
Inventories 94,428 95,907
Debtors 5 48,093 49,963
Cash at bank and in hand 591,666 643,805
734,187 789,675
CREDITORS
Amounts falling due within one year 6 354,215 298,149
NET CURRENT ASSETS 379,972 491,526
TOTAL ASSETS LESS CURRENT
LIABILITIES

594,727

585,407

CREDITORS
Amounts falling due after more than one
year

7

(15,895

)

(22,959

)

PROVISIONS FOR LIABILITIES (49,079 ) (17,496 )
NET ASSETS 529,753 544,952

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 529,751 544,950
SHAREHOLDERS' FUNDS 529,753 544,952

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 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.

MC Stores Limited (Registered number: SC387053)

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 Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





G R Colvan FCCA - Director


MC Stores Limited (Registered number: SC387053)

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

1. STATUTORY INFORMATION

MC Stores 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 20% on cost
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

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

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.

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.

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.

MC Stores Limited (Registered number: SC387053)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2022 - 25 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 14,646 231,505 246,151
Additions - 166,828 166,828
Disposals - (4,950 ) (4,950 )
At 31 December 2023 14,646 393,383 408,029
DEPRECIATION
At 1 January 2023 12,305 139,965 152,270
Charge for year 468 43,556 44,024
Eliminated on disposal - (3,020 ) (3,020 )
At 31 December 2023 12,773 180,501 193,274
NET BOOK VALUE
At 31 December 2023 1,873 212,882 214,755
At 31 December 2022 2,341 91,540 93,881

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1 6,615
Other debtors 48,092 43,348
48,093 49,963

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 192,391 175,370
Taxation and social security 99,476 88,480
Other creditors 62,348 34,299
354,215 298,149

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other creditors 15,895 22,959

MC Stores Limited (Registered number: SC387053)

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

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 67,581 48,195
Between one and five years 247,795 192,780
In more than five years - 32,130
315,376 273,105

9. SECURED DEBTS

The company has provided a bond & floating charge over its assets in respect of any borrowings it may have with The Royal Bank of Scotland. At the date of these accounts there were no such borrowings.

10. FINANCIAL INSTRUMENTS

During the year ended 31 December 2019 the company received an interest free loan of £55,769 from Energy Savings Ltd. The loan is repayable in equal instalments by 15 March 2027. At the balance sheet date the loan amount outstanding of £22,959 (2022 £30,024) is presented within creditors falling due within one year and amounts falling due after more than one year.