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REGISTERED NUMBER: SC504748 (Scotland)















Unaudited Financial Statements for the Year Ended 30th April 2024

for

W Maclean Formwork Ltd

W Maclean Formwork Ltd (Registered number: SC504748)

Contents of the Financial Statements
for the year ended 30th April 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


W Maclean Formwork Ltd

Company Information
for the year ended 30th April 2024







Directors: M Campbell
D Campbell
C W Maclean





Registered office: 4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT





Registered number: SC504748 (Scotland)





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

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
W Maclean Formwork Ltd


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 W Maclean Formwork Ltd for the year ended 30th April 2024 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 W Maclean Formwork Ltd, 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 W Maclean Formwork Ltd and state those matters that we have agreed to state to the Board of Directors of W Maclean Formwork Ltd, 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 W Maclean Formwork Ltd 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 W Maclean Formwork Ltd. You consider that W Maclean Formwork Ltd 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 W Maclean Formwork Ltd. 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


21st January 2025

W Maclean Formwork Ltd (Registered number: SC504748)

Balance Sheet
30th April 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 72,608 88,108
72,608 88,108

Current assets
Stocks 7,950 7,500
Debtors 6 248,738 206,564
Cash at bank 234,084 336,324
490,772 550,388
Creditors
Amounts falling due within one year 7 323,922 299,675
Net current assets 166,850 250,713
Total assets less current liabilities 239,458 338,821

Creditors
Amounts falling due after more than one year 8 (558 ) (8,878 )

Provisions for liabilities (18,153 ) (16,594 )
Net assets 220,747 313,349

W Maclean Formwork Ltd (Registered number: SC504748)

Balance Sheet - continued
30th April 2024

2024 2023
Notes £    £    £    £   
Capital and reserves
Called up share capital 1,002 1,002
Retained earnings 219,745 312,347
220,747 313,349

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21st January 2025 and were signed on its behalf by:





M Campbell - Director


W Maclean Formwork Ltd (Registered number: SC504748)

Notes to the Financial Statements
for the year ended 30th April 2024


1. Statutory information

W Maclean Formwork Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of four years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost and 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


W Maclean Formwork Ltd (Registered number: SC504748)

Notes to the Financial Statements - continued
for the year ended 30th April 2024


2. Accounting policies - continued
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.

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.

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 in the statement of financial position 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 in finance costs in profit or loss in the period it arises.

3. Employees and directors

The average number of employees during the year was 6 (2023 - 7 ) .

W Maclean Formwork Ltd (Registered number: SC504748)

Notes to the Financial Statements - continued
for the year ended 30th April 2024


4. Intangible fixed assets
Goodwill
£   
Cost
At 1st May 2023
and 30th April 2024 40,000
Amortisation
At 1st May 2023
and 30th April 2024 40,000
Net book value
At 30th April 2024 -
At 30th April 2023 -

5. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1st May 2023 139,669 6,547 148,085 294,301
Additions 17,846 1,368 - 19,214
At 30th April 2024 157,515 7,915 148,085 313,515
Depreciation
At 1st May 2023 111,592 3,706 90,895 206,193
Charge for year 9,185 842 24,687 34,714
At 30th April 2024 120,777 4,548 115,582 240,907
Net book value
At 30th April 2024 36,738 3,367 32,503 72,608
At 30th April 2023 28,077 2,841 57,190 88,108

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 232,019 192,535
Other debtors 16,719 14,029
248,738 206,564

W Maclean Formwork Ltd (Registered number: SC504748)

Notes to the Financial Statements - continued
for the year ended 30th April 2024


7. Creditors: amounts falling due within one year
2024 2023
£    £   
Hire purchase contracts 8,382 12,010
Trade creditors 20,617 12,226
Taxation and social security 31,293 42,488
Other creditors 263,630 232,951
323,922 299,675

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Hire purchase contracts 558 8,878

9. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 30th April 2024 and 30th April 2023:

2024 2023
£    £   
C W Maclean
Balance outstanding at start of year 742 -
Amounts advanced 74,734 61,042
Amounts repaid (76,000 ) (60,300 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (524 ) 742