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REGISTERED NUMBER: SC154514 (Scotland)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31st December 2023

for

Maclean Plastering Company Limited

Maclean Plastering Company Limited (Registered number: SC154514)

Contents of the Financial Statements
for the year ended 31st December 2023










Page

Company Information 1

Report of the Directors 2

Chartered Accountants' Report 3

Statement of Income and Retained Earnings 4

Balance Sheet 5

Notes to the Financial Statements 7


Maclean Plastering Company Limited

Company Information
for the year ended 31st December 2023







Directors: S A Maclean
S C Maclean





Registered office: Unit 5
20 Carsegate Road North
Carsegate Industrial Estate
Inverness
IV3 8EA





Registered number: SC154514 (Scotland)





Accountants: Frame Kennedy
4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT

Maclean Plastering Company Limited (Registered number: SC154514)

Report of the Directors
for the year ended 31st December 2023


The directors present their report with the financial statements of the company for the year ended 31st December 2023.

Directors
The directors shown below have held office during the whole of the period from 1st January 2023 to the date of this report.

S A Maclean
S C Maclean

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:





S C Maclean - Director


24th October 2024

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Maclean Plastering Company Limited



In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Maclean Plastering Company Limited for the year ended 31st December 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Maclean Plastering Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Maclean Plastering Company Limited and state those matters that we have agreed to state to the Board of Directors of Maclean Plastering Company Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Maclean Plastering Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Maclean Plastering Company Limited. You consider that Maclean Plastering Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Maclean Plastering Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Frame Kennedy
4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT


24th October 2024

Maclean Plastering Company Limited (Registered number: SC154514)

Statement of Income and
Retained Earnings
for the year ended 31st December 2023

2023 2022
Notes £    £   

Turnover 1,981,464 1,555,365

Cost of sales 1,581,807 1,249,435
Gross profit 399,657 305,930

Administrative expenses 244,600 251,388
Operating profit 4 155,057 54,542

Interest receivable and similar income - 84
155,057 54,626

Interest payable and similar expenses 2,211 2,037
Profit before taxation 152,846 52,589

Tax on profit 5 43,346 17,097
Profit for the financial year 109,500 35,492

Retained earnings at beginning of year 261,117 272,215

Dividends (79,745 ) (46,590 )

Retained earnings at end of year 290,872 261,117

Maclean Plastering Company Limited (Registered number: SC154514)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 6 135,547 129,549

Current assets
Stocks 40,600 -
Debtors 7 208,731 184,280
Cash at bank 191,727 157,596
441,058 341,876
Creditors
Amounts falling due within one year 8 206,310 132,907
Net current assets 234,748 208,969
Total assets less current liabilities 370,295 338,518

Creditors
Amounts falling due after more than one
year

9

(45,534

)

(45,932

)

Provisions for liabilities (33,887 ) (31,467 )
Net assets 290,874 261,119

Capital and reserves
Called up share capital 2 2
Retained earnings 290,872 261,117
290,874 261,119

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

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

Maclean Plastering Company Limited (Registered number: SC154514)

Balance Sheet - continued
31st December 2023


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 24th October 2024 and were signed on its behalf by:





S C Maclean - Director


Maclean Plastering Company Limited (Registered number: SC154514)

Notes to the Financial Statements
for the year ended 31st December 2023


1. Statutory information

Maclean Plastering Company 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.
Freehold property - 20% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Maclean Plastering Company Limited (Registered number: SC154514)

Notes to the Financial Statements - continued
for the year ended 31st December 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.

Fair value
Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm's length transaction.

3. Employees and directors

The average number of employees during the year was 7 (2022 - 9 ) .

4. Operating profit

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 34,536 32,945

5. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 40,927 13,558

Deferred tax 2,419 3,539
Tax on profit 43,346 17,097

Maclean Plastering Company Limited (Registered number: SC154514)

Notes to the Financial Statements - continued
for the year ended 31st December 2023


6. Tangible fixed assets
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Cost
At 1st January 2023 18,400 118,342 15,908 177,579 330,229
Additions - 16,567 - 41,835 58,402
Disposals - - - (46,255 ) (46,255 )
At 31st December 2023 18,400 134,909 15,908 173,159 342,376
Depreciation
At 1st January 2023 14,720 58,571 12,366 115,023 200,680
Charge for year 920 11,455 531 21,630 34,536
Eliminated on disposal - - - (28,387 ) (28,387 )
At 31st December 2023 15,640 70,026 12,897 108,266 206,829
Net book value
At 31st December 2023 2,760 64,883 3,011 64,893 135,547
At 31st December 2022 3,680 59,771 3,542 62,556 129,549

7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 104,964 132,667
Other debtors 103,767 51,613
208,731 184,280

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Hire purchase contracts 18,275 21,167
Trade creditors 108,154 72,194
Taxation and social security 45,106 21,386
Other creditors 34,775 18,160
206,310 132,907

9. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Hire purchase contracts 45,534 45,932

Maclean Plastering Company Limited (Registered number: SC154514)

Notes to the Financial Statements - continued
for the year ended 31st December 2023


10. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 63,809 -

11. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31st December 2023 and 31st December 2022:

2023 2022
£    £   
S C Maclean
Balance outstanding at start of year (9,306 ) 12,296
Amounts advanced 31,116 -
Amounts repaid (44,561 ) (21,602 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (22,751 ) (9,306 )

S A Maclean
Balance outstanding at start of year 2,297 9,552
Amounts advanced 42,497 10,665
Amounts repaid (45,166 ) (17,920 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (372 ) 2,297