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REGISTERED NUMBER: SC224081 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Reid Mackellar Limited

Reid Mackellar Limited (Registered number: SC224081)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Reid Mackellar Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: J Mackellar
Mrs K Mackellar
Mrs M McGeehan
C Mackellar





REGISTERED OFFICE: 86-90 West Blackhall Street
Greenock
Renfrewshire
PA15 1XG





REGISTERED NUMBER: SC224081 (Scotland)





ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU

Reid Mackellar Limited (Registered number: SC224081)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 160,148 172,480
Investments 6 101,500 101,500
261,648 273,980

CURRENT ASSETS
Stocks 64,347 65,586
Debtors 7 134,438 126,698
Cash at bank 190,979 263,392
389,764 455,676
CREDITORS
Amounts falling due within one year 8 84,570 93,982
NET CURRENT ASSETS 305,194 361,694
TOTAL ASSETS LESS CURRENT
LIABILITIES

566,842

635,674

PROVISIONS FOR LIABILITIES 19,656 16,741
NET ASSETS 547,186 618,933

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 545,186 616,933
547,186 618,933

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Reid Mackellar Limited (Registered number: SC224081)

Balance Sheet - continued
30 November 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 30 September 2024 and were signed on its behalf by:





C Mackellar - Director


Reid Mackellar Limited (Registered number: SC224081)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Reid Mackellar 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten 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.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and Straight line over 3 years

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.

Reid Mackellar Limited (Registered number: SC224081)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

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 15 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 12,500
AMORTISATION
At 1 December 2022
and 30 November 2023 12,500
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022 105,000 450,824 555,824
Additions - 16,505 16,505
At 30 November 2023 105,000 467,329 572,329
DEPRECIATION
At 1 December 2022 44,100 339,244 383,344
Charge for year 2,100 26,737 28,837
At 30 November 2023 46,200 365,981 412,181
NET BOOK VALUE
At 30 November 2023 58,800 101,348 160,148
At 30 November 2022 60,900 111,580 172,480

Reid Mackellar Limited (Registered number: SC224081)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2022
and 30 November 2023 101,500
NET BOOK VALUE
At 30 November 2023 101,500
At 30 November 2022 101,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 130,673 122,381
VAT 2,996 3,678
Prepayments and other debtors 769 639
134,438 126,698

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 31,995 44,552
Tax 38,092 36,411
Social security and other taxes 8,749 8,225
Directors' current accounts 416 416
Accrued expenses 5,318 4,378
84,570 93,982