Company Registration No. SC061609 (Scotland)
Maclin Electric Limited
Unaudited accounts
for the year ended 31 January 2024
Maclin Electric Limited
Unaudited accounts
Contents
Maclin Electric Limited
Company Information
for the year ended 31 January 2024
Director
John McLaren Dowdeswell
Company Number
SC061609 (Scotland)
Registered Office
BLOCK 2, UNIT 3
INVERESK INDUSTRIAL ESTATE
MUSSELBURGH
EAST LOTHIAN
EH21 7UL
Accountants
Braes Accountancy Limited
Ironworks Business Centre
Castlelaurie Industrial Estate
Falkirk
Stirlingshire
FK2 7XE
Maclin Electric Limited
Statement of financial position
as at 31 January 2024
Tangible assets
436,978
472,737
Inventories
132,168
115,493
Debtors
1,527,514
1,258,563
Cash at bank and in hand
233,546
353,959
Creditors: amounts falling due within one year
(810,917)
(662,630)
Net current assets
1,082,311
1,065,385
Net assets
1,519,289
1,538,122
Called up share capital
49,566
49,566
Share premium
25,000
25,000
Profit and loss account
1,444,723
1,463,556
Shareholders' funds
1,519,289
1,538,122
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 October 2024 and were signed on its behalf by
John McLaren Dowdeswell
Director
Company Registration No. SC061609
Maclin Electric Limited
Notes to the Accounts
for the year ended 31 January 2024
Maclin Electric Limited is a private company, limited by shares, registered in Scotland, registration number SC061609. The registered office is BLOCK 2, UNIT 3, INVERESK INDUSTRIAL ESTATE, MUSSELBURGH, EAST LOTHIAN, EH21 7UL.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% Straight Line
Plant & machinery
15% Reducing Balance
Motor vehicles
25% Reducing Balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 February 2023
272,210
86,946
439,932
799,088
Additions
-
-
26,995
26,995
At 31 January 2024
272,210
86,946
466,927
826,083
At 1 February 2023
43,553
55,789
227,009
326,351
Charge for the year
5,444
6,413
50,897
62,754
At 31 January 2024
48,997
62,202
277,906
389,105
At 31 January 2024
223,213
24,744
189,021
436,978
At 31 January 2023
228,657
31,157
212,923
472,737
Maclin Electric Limited
Notes to the Accounts
for the year ended 31 January 2024
Amounts falling due within one year
Trade debtors
591,530
732,579
Amounts falling due after more than one year
Amounts due from group undertakings etc.
715,151
525,151
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Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
29,807
7,231
Trade creditors
581,230
374,939
Taxes and social security
62,870
193,533
Loans from directors
5,973
5,973
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Average number of employees
During the year the average number of employees was 40 (2023: 40).