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REGISTERED NUMBER: SC528649 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

MC Building Contractors Ltd

MC Building Contractors Ltd (Registered number: SC528649)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MC Building Contractors Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: M Carroll
Mrs P A Carroll





REGISTERED OFFICE: 2 Stewart Street
Milngavie
Glasgow
G62 6BW





REGISTERED NUMBER: SC528649 (Scotland)





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

MC Building Contractors Ltd (Registered number: SC528649)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,379 70,773

CURRENT ASSETS
Stocks 750 686
Debtors 5 214,576 232,142
Cash at bank 716,440 764,465
931,766 997,293
CREDITORS
Amounts falling due within one year 6 94,015 266,608
NET CURRENT ASSETS 837,751 730,685
TOTAL ASSETS LESS CURRENT
LIABILITIES

884,130

801,458

PROVISIONS FOR LIABILITIES 11,595 17,693
NET ASSETS 872,535 783,765

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 872,435 783,665
872,535 783,765

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

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

MC Building Contractors Ltd (Registered number: SC528649)

Balance Sheet - continued
30 June 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 Board of Directors and authorised for issue on 17 January 2025 and were signed on its behalf by:





M Carroll - Director


MC Building Contractors Ltd (Registered number: SC528649)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

MC Building Contractors 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.

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

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements and estimates about the carrying value of assets and liabilities where values are not readily apparent from other sources. The estimates and judgements are based on historical experience and other factors considered to be relevant. Actual results may differ from these estimates.

Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Valuation of amounts recoverable on contracts
The amount due form customers for contract work is recorded as the costs incurred to the balance sheet date, plus recognised profits, less recognised losses and progress billings.

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.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on reducing balance

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

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.


MC Building Contractors Ltd (Registered number: SC528649)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

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 6 (2023 - 6 ) .

MC Building Contractors Ltd (Registered number: SC528649)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2023 3,462 127,819 5,881 137,162
Additions 801 - 1,998 2,799
Disposals - (30,169 ) - (30,169 )
At 30 June 2024 4,263 97,650 7,879 109,792
DEPRECIATION
At 1 July 2023 2,097 59,302 4,990 66,389
Charge for year 433 10,677 953 12,063
Eliminated on disposal - (15,039 ) - (15,039 )
At 30 June 2024 2,530 54,940 5,943 63,413
NET BOOK VALUE
At 30 June 2024 1,733 42,710 1,936 46,379
At 30 June 2023 1,365 68,517 891 70,773

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 148,908 139,732
Amounts recoverable on contract 53,546 92,000
Other debtors 12,122 410
214,576 232,142

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 31,841 83,892
Taxation and social security 19,220 133,139
Other creditors 42,954 49,577
94,015 266,608