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Company Registration No. SC061609 (Scotland)
Maclin Electric Limited Unaudited accounts for the year ended 31 January 2024
Maclin Electric Limited Unaudited accounts Contents
Page
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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
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Maclin Electric Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
436,978 
472,737 
Current assets
Inventories
132,168 
115,493 
Debtors
1,527,514 
1,258,563 
Cash at bank and in hand
233,546 
353,959 
1,893,228 
1,728,015 
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 
Capital and reserves
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
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Maclin Electric Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
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.
2
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
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.
4
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 
Depreciation
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 
Net book value
At 31 January 2024
223,213 
24,744 
189,021 
436,978 
At 31 January 2023
228,657 
31,157 
212,923 
472,737 
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Maclin Electric Limited Notes to the Accounts for the year ended 31 January 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
591,530 
732,579 
Other debtors
220,833 
833 
812,363 
733,412 
Amounts falling due after more than one year
Amounts due from group undertakings etc.
715,151 
525,151 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
128,526 
80,025 
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 
Other creditors
2,511 
929 
Loans from directors
5,973 
5,973 
810,917 
662,630 
7
Average number of employees
During the year the average number of employees was 40 (2023: 40).
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