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REGISTERED NUMBER: SC606567 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Mandie McCutcheon Holdings Limited

Mandie McCutcheon Holdings Limited (Registered number: SC606567)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mandie McCutcheon Holdings Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mrs A R McCutcheon





REGISTERED OFFICE: 87 Paisley Road
Renfrew
PA4 8LH





REGISTERED NUMBER: SC606567 (Scotland)





ACCOUNTANTS: Bell Barr & Company
Chartered Accountants
2 Stewart Street
Milngavie
Glasgow
G62 6BW

Mandie McCutcheon Holdings Limited (Registered number: SC606567)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,707,275 1,707,275
Investment property 5 274,961 274,961
1,982,236 1,982,236

CURRENT ASSETS
Debtors 6 124,292 713,231
Cash at bank 5,483 5,251
129,775 718,482
CREDITORS
Amounts falling due within one year 7 317,019 609,340
NET CURRENT (LIABILITIES)/ASSETS (187,244 ) 109,142
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,794,992

2,091,378

CREDITORS
Amounts falling due after more than one
year

8

1,463,323

1,538,882
NET ASSETS 331,669 552,496

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 331,668 552,495
331,669 552,496

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Mandie McCutcheon Holdings Limited (Registered number: SC606567)

Balance Sheet - continued
31 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 December 2024 and were signed by:





Mrs A R McCutcheon - Director


Mandie McCutcheon Holdings Limited (Registered number: SC606567)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Mandie McCutcheon Holdings 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.

The director has reviewed the company's operating costs for the next twelve months, and the sources of funds available, and is satisfied that the company is a going concern.

Significant judgements and estimates
The preparation of financial statements in compliance with FRS 102 may require the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. The director is of the opinion that due to the nature of the business, there are no critical accounting estimates or judgements used in the preparation of these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Mandie McCutcheon Holdings Limited (Registered number: SC606567)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Cash at bank
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the account.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability on the balance sheet and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 1,707,275
NET BOOK VALUE
At 31 March 2024 1,707,275
At 31 March 2023 1,707,275

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 274,961
NET BOOK VALUE
At 31 March 2024 274,961
At 31 March 2023 274,961

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 124,292 713,231

Mandie McCutcheon Holdings Limited (Registered number: SC606567)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 121,500 121,500
Taxation and social security - 133,954
Other creditors 195,519 353,886
317,019 609,340

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 1,463,323 1,538,882

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 977,323 1,052,882

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mrs A R McCutcheon
Balance outstanding at start of year 588,939 532,437
Amounts advanced - 56,502
Amounts repaid (588,939 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 588,939