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REGISTERED NUMBER: SC213888 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

McDonald & Sons (Bakers) Limited

McDonald & Sons (Bakers) Limited (Registered number: SC213888)






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

Chartered Accountants' Report 8

McDonald & Sons (Bakers) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J McDonald
P A McDonald





REGISTERED OFFICE: 278 Drumoyne Road
Glasgow
G51 4BH





REGISTERED NUMBER: SC213888 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

McDonald & Sons (Bakers) Limited (Registered number: SC213888)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,254,749 1,300,234
Investments 6 40 40
1,254,789 1,300,274

CURRENT ASSETS
Stocks 11,475 11,290
Debtors 7 16,138 16,287
Cash at bank and in hand 554,162 353,055
581,775 380,632
CREDITORS
Amounts falling due within one year 8 298,716 143,457
NET CURRENT ASSETS 283,059 237,175
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,537,848

1,537,449

PROVISIONS FOR LIABILITIES 53,172 43,655
NET ASSETS 1,484,676 1,493,794

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 1,484,376 1,493,494
SHAREHOLDERS' FUNDS 1,484,676 1,493,794

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 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.

McDonald & Sons (Bakers) Limited (Registered number: SC213888)

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 & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 January 2025 and were signed on its behalf by:





J McDonald - Director


McDonald & Sons (Bakers) Limited (Registered number: SC213888)

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

1. STATUTORY INFORMATION

McDonald & Sons (Bakers) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from bakery and confectionery services supplied by the company.

Turnover is measured at the fair value of bakery and confectionery services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on cost, 20% on cost and 5% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to the income statement as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amounts of stocks recognised as an expense in the period in which the reversal occurs.


McDonald & Sons (Bakers) Limited (Registered number: SC213888)

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

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & 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.

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.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement on a straight line basis.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2023 - 34 ) .

McDonald & Sons (Bakers) Limited (Registered number: SC213888)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 1,411,677 564,184 1,975,861
Additions - 24,092 24,092
At 31 March 2024 1,411,677 588,276 1,999,953
DEPRECIATION
At 1 April 2023 343,824 331,803 675,627
Charge for year 28,234 41,343 69,577
At 31 March 2024 372,058 373,146 745,204
NET BOOK VALUE
At 31 March 2024 1,039,619 215,130 1,254,749
At 31 March 2023 1,067,853 232,381 1,300,234

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 40
NET BOOK VALUE
At 31 March 2024 40
At 31 March 2023 40

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments and accrued income 16,138 16,287

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 35,262 17,946
Taxation and social security 111,983 70,224
Other creditors 151,471 55,287
298,716 143,457

McDonald & Sons (Bakers) Limited (Registered number: SC213888)

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

9. RELATED PARTY DISCLOSURES

The company operates a loan account with each of the directors, J McDonald and P A McDonald.

During the year, the directors advanced the following to the company:
- J McDonald £37,915 (2023 - £ £2,130)
- P A McDonald £49,144 (2023 - £5,163)

At the year end, the balance due to each of the directors was:
- J McDonald £57,706 (2023 - £19,791
- P A McDonald £73,643 (2022 - £24,499)

No interest was charged on these loans during this year or the previous year.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
McDonald & Sons (Bakers) Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of McDonald & Sons (Bakers) Limited for the year ended 31 March 2024 which comprise the Profit & Loss Account, Balance Sheet, Statement of Changes in Equity 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 McDonald & Sons (Bakers) 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 McDonald & Sons (Bakers) Limited and state those matters that we have agreed to state to the Board of Directors of McDonald & Sons (Bakers) 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 McDonald & Sons (Bakers) 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 McDonald & Sons (Bakers) Limited. You consider that McDonald & Sons (Bakers) 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 McDonald & Sons (Bakers) 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.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


7 January 2025