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REGISTERED NUMBER: SC160512 (Scotland)







Unaudited Financial Statements

For The Year Ended 31st March 2024

for

Buchanan McPherson Ltd

Buchanan McPherson Ltd (Registered number: SC160512)






Contents of the Financial Statements
For The Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Buchanan McPherson Ltd

Company Information
For The Year Ended 31st March 2024







DIRECTORS: K D Buchanan
C M Douglas
Mrs K Baxter





SECRETARY: K D Buchanan





REGISTERED OFFICE: 2 Portland Place
Hamilton
Lanarkshire
ML3 7JU





REGISTERED NUMBER: SC160512 (Scotland)





ACCOUNTANTS: J S Mackie & Co Ltd
8 Douglas Street
Hamilton
Lanarkshire
ML3 0BP

Buchanan McPherson Ltd (Registered number: SC160512)

Balance Sheet
31st March 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 204,917 198,018
204,917 198,018

CURRENT ASSETS
Stocks 90,557 83,460
Debtors 6 192,235 202,357
Cash at bank and in hand 1,025,392 936,700
1,308,184 1,222,517
CREDITORS
Amounts falling due within one year 7 (159,593 ) (124,944 )
NET CURRENT ASSETS 1,148,591 1,097,573
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,353,508

1,295,591

CREDITORS
Amounts falling due after more than one
year

8

(40,184

)

(40,721

)

PROVISIONS FOR LIABILITIES (38,196 ) (32,080 )
NET ASSETS 1,275,128 1,222,790

CAPITAL AND RESERVES
Called up share capital 3,350 3,350
Company share buy back (58,350 ) (58,350 )
Retained earnings 1,330,128 1,277,790
SHAREHOLDERS' FUNDS 1,275,128 1,222,790

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

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

Buchanan McPherson Ltd (Registered number: SC160512)

Balance Sheet - continued
31st March 2024


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 26th September 2024 and were signed on its behalf by:





K D Buchanan - Director


Buchanan McPherson Ltd (Registered number: SC160512)

Notes to the Financial Statements
For The Year Ended 31st March 2024

1. STATUTORY INFORMATION

Buchanan McPherson Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over 20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% 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.

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.

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.

Buchanan McPherson Ltd (Registered number: SC160512)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1st April 2023
and 31st March 2024 225,000
AMORTISATION
At 1st April 2023
and 31st March 2024 225,000
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1st April 2023 1,027,145
Additions 55,032
Disposals (29,918 )
At 31st March 2024 1,052,259
DEPRECIATION
At 1st April 2023 829,127
Charge for year 40,402
Eliminated on disposal (22,187 )
At 31st March 2024 847,342
NET BOOK VALUE
At 31st March 2024 204,917
At 31st March 2023 198,018

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 186,741 195,490
Other debtors 5,494 6,867
192,235 202,357

Buchanan McPherson Ltd (Registered number: SC160512)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 66,019 55,045
Taxation and social security 51,288 28,684
Other creditors 42,286 41,215
159,593 124,944

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Other creditors 40,184 40,721

9. CONTINGENT LIABILITIES

There were no contingent liabilities at 31st March 2024 or 31st March 2023.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company is committed to paying rent for the property owned by the director Mr Buchanan at £53,000 per annum.

11. RELATED PARTY DISCLOSURES

At the start of the year, the company owed Mr Buchanan £40721. Mr Buchanan had a dividend of £40400 raised he was repaid £40937.. The amount owed to Mr Buchanan 31 March 2023 was £40184.

The property from which the company operates is owned by Mr Buchanan. The annual rental paid by the company was £53,000 (2023 - £53,000 ).

Buchanan McPherson Ltd

Report of the Accountants to the Directors of
Buchanan McPherson Ltd

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 March 2024 set out on pages three to eight 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.






J S Mackie & Co Ltd
8 Douglas Street
Hamilton
Lanarkshire
ML3 0BP


26th September 2024