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REGISTERED NUMBER: SC038931 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

George McDougal (Bassendean) Limited

George McDougal (Bassendean) Limited (Registered number: SC038931)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


George McDougal (Bassendean) Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: J McDougal
Mrs C A McDougal





SECRETARY: Mrs C A McDougal





REGISTERED OFFICE: Bassendean
Gordon
Borders
TD3 6LU





REGISTERED NUMBER: SC038931 (Scotland)





ACCOUNTANT: Susan Cove Accountancy Limited
Chartered Accountant
Ty Hapus
Clerklands
Melrose
Roxburghshire
TD6 9JR

George McDougal (Bassendean) Limited (Registered number: SC038931)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,986,032 2,003,479

CURRENT ASSETS
Stocks 1,205,927 1,185,375
Debtors 5 185,581 168,306
Cash at bank 4,002,326 3,745,573
5,393,834 5,099,254
CREDITORS
Amounts falling due within one
year

6

626,414

739,912
NET CURRENT ASSETS 4,767,420 4,359,342
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,753,452

6,362,821

CREDITORS
Amounts falling due after more than
one year

7

(119,622

)

(130,040

)

PROVISIONS FOR LIABILITIES (241,834 ) (186,837 )
NET ASSETS 6,391,996 6,045,944

George McDougal (Bassendean) Limited (Registered number: SC038931)

Balance Sheet - continued
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2,002 2,002
Other reserves 136 136
Retained earnings 6,389,858 6,043,806
6,391,996 6,045,944

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

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 23 August 2024 and were signed on its behalf by:





J McDougal - Director


George McDougal (Bassendean) Limited (Registered number: SC038931)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

George McDougal (Bassendean) 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.

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.
Buildings - at varying rates on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% 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.

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.


George McDougal (Bassendean) Limited (Registered number: SC038931)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property Buildings machinery
£    £    £   
COST
At 1 June 2023 911,993 668,900 1,867,505
Additions - - 319,359
Disposals - - (81,550 )
At 31 May 2024 911,993 668,900 2,105,314
DEPRECIATION
At 1 June 2023 - 411,448 1,090,308
Charge for year - 21,159 265,289
Eliminated on disposal - - (46,113 )
At 31 May 2024 - 432,607 1,309,484
NET BOOK VALUE
At 31 May 2024 911,993 236,293 795,830
At 31 May 2023 911,993 257,452 777,197

George McDougal (Bassendean) Limited (Registered number: SC038931)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 105,595 2,604 3,556,597
Additions - - 319,359
Disposals (4,000 ) - (85,550 )
At 31 May 2024 101,595 2,604 3,790,406
DEPRECIATION
At 1 June 2023 48,758 2,604 1,553,118
Charge for year 13,972 - 300,420
Eliminated on disposal (3,051 ) - (49,164 )
At 31 May 2024 59,679 2,604 1,804,374
NET BOOK VALUE
At 31 May 2024 41,916 - 1,986,032
At 31 May 2023 56,837 - 2,003,479

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.5.24 31.5.23
£    £   
Trade debtors 162,879 124,620
Other debtors 22,702 43,686
185,581 168,306

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 19,139 17,937
Trade creditors 116,999 262,237
Taxation and social security 163,021 82,792
Other creditors 327,255 376,946
626,414 739,912

George McDougal (Bassendean) Limited (Registered number: SC038931)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 119,622 130,040

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after
5 years 43,064 58,294
43,064 58,294