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Company Registration No. SC024976 (Scotland)
Margaret McIver Limited Unaudited accounts for the year ended 30 April 2024
Margaret McIver Limited Unaudited accounts Contents
Page
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Margaret McIver Limited Company Information for the year ended 30 April 2024
Directors
Mrs A Dick DJR McArthur CPA(Ontario) CA(Ontario) Mrs F Weber
Secretary
R T Aird CA
Company Number
SC024976 (Scotland)
Registered Office
244 Gallowgate Glasgow G4 0TT
Accountants
The Accounting Crew Scotland Limited Certified Public Accountants 8 Benview Road Glasgow G76 7PP
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Margaret McIver Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
509,311 
509,311 
Investments
1,000 
1,000 
510,311 
510,311 
Current assets
Inventories
31,553 
22,713 
Debtors
11,913 
19,837 
Cash at bank and in hand
1,251,779 
1,064,978 
1,295,245 
1,107,528 
Creditors: amounts falling due within one year
(240,867)
(254,854)
Net current assets
1,054,378 
852,674 
Net assets
1,564,689 
1,362,985 
Capital and reserves
Called up share capital
50,000 
50,000 
Capital contribution reserve
139,932 
139,932 
Profit and loss account
1,374,757 
1,173,053 
Shareholders' funds
1,564,689 
1,362,985 
For the year ending 30 April 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 directors acknowledge their 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 of Directors and authorised for issue on 4 July 2024 and were signed on its behalf by
Mrs A Dick Director Company Registration No. SC024976
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Margaret McIver Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Margaret McIver Limited is a private company, limited by shares, registered in Scotland, registration number SC024976. The registered office is 244 Gallowgate, Glasgow, G4 0TT.
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
No depreciation has been provided on the Buildings. The Directors are of the opinion that these buildings are maintained in good state of repair and accordingly, the market value of these properties is in excess of their stated value in the accounts. This is a departure from the Companies Act 2006 and FRS 15. In the opinion of the directors, this departure is not material. Other 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
Straight Line over term of Lease
Fixtures & fittings
Straight Line over 3 years
Investments
Investments are shown at cost less amounts written off.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Turnover
Turnover comprises the value of sales (excluding VAT and similar taxes and trade discounts) of goods and services in the normal course of business. Turnover and profit on ordinary activities before taxation are attributable to the rental of market stalls, Barrowland Ballroom and other properties.
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Margaret McIver Limited Notes to the Accounts for the year ended 30 April 2024
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 May 2023
526,267 
440,024 
966,291 
At 30 April 2024
526,267 
440,024 
966,291 
Depreciation
At 1 May 2023
41,700 
415,280 
456,980 
At 30 April 2024
41,700 
415,280 
456,980 
Net book value
At 30 April 2024
484,567 
24,744 
509,311 
At 30 April 2023
484,567 
24,744 
509,311 
5
Investments
Other investments 
£ 
Valuation at 1 May 2023
1,000 
Valuation at 30 April 2024
1,000 
The Company owns 20,000 shares of the Barras Centre Limited. The Company's Directors assessed the net realisable value of this investment, and have written it down to a nominal value of £1,000.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
11,913 
19,837 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
24,440 
35,230 
Trade creditors
34,898 
75,370 
Taxes and social security
143,745 
109,250 
Other creditors
37,784 
35,004 
240,867 
254,854 
There is a first Standard Security in favour of the Company's bank over 13 Gibson Street, Glasgow for all sums due to the bank.
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
50,000 Ordinary shares of £1 each
50,000 
50,000 
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Margaret McIver Limited Notes to the Accounts for the year ended 30 April 2024
9
Average number of employees
During the year the average number of employees was 40 (2023: 40).
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