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REGISTERED NUMBER: SC084200 (Scotland)















Financial Statements For The Year Ended 30 June 2024

for

J McFadyen
(Building Contractors) Limited

J McFadyen
(Building Contractors) Limited (Registered number: SC084200)






Contents of the Financial Statements
For The Year Ended 30 June 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


J McFadyen
(Building Contractors) Limited

Company Information
For The Year Ended 30 June 2024







DIRECTORS: J McFadyen
Mrs H McFadyen



REGISTERED OFFICE: 18 Crowhill Road
Bishopbriggs
Glasgow
G64 1QY



REGISTERED NUMBER: SC084200 (Scotland)



ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ



SOLICITORS: Duffy Toshner
23 Main Street
Cambuslang
Glasgow
G72 7EX

J McFadyen
(Building Contractors) Limited (Registered number: SC084200)

Abridged Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 5,983
Investment property 5 305,000 230,000
305,000 235,983

CURRENT ASSETS
Debtors 1,301 5,406
Cash at bank and in hand 9,805 38,687
11,106 44,093
CREDITORS
Amounts falling due within one year 71,986 9,421
NET CURRENT (LIABILITIES)/ASSETS (60,880 ) 34,672
TOTAL ASSETS LESS CURRENT
LIABILITIES

244,120

270,655

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 6 78,825 3,825
Retained earnings 165,195 266,730
SHAREHOLDERS' FUNDS 244,120 270,655

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.

J McFadyen
(Building Contractors) Limited (Registered number: SC084200)

Abridged Statement of Financial Position - 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.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:





J McFadyen - Director


J McFadyen
(Building Contractors) Limited (Registered number: SC084200)

Notes to the Financial Statements
For The Year Ended 30 June 2024

1. STATUTORY INFORMATION

J McFadyen (Building Contractors) 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. 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 as modified by the revaluation of certain assets.

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.
Improvements to property - 15% on reducing balance
Fixed plant and equipment - 33.33% on cost and 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is included at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. Deferred taxation is provided on gains at the rate expected to apply when the property is sold.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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 statement of financial position date.

Current or deferred taxation assets and liabilities are not discounted.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

J McFadyen
(Building Contractors) Limited (Registered number: SC084200)

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

2. ACCOUNTING POLICIES - continued

Investments
Fixed asset investments are originally stated at cost. An annual review of market value takes place at each year end the investments are still held and any increases or permanent diminutions in value adjusted for accordingly in the accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023 134,087
Disposals (25,223 )
At 30 June 2024 108,864
DEPRECIATION
At 1 July 2023 128,104
Charge for year 1,497
Eliminated on disposal (20,737 )
At 30 June 2024 108,864
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 5,983

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 230,000
Revaluations 75,000
At 30 June 2024 305,000
NET BOOK VALUE
At 30 June 2024 305,000
At 30 June 2023 230,000

The directors have reviewed the carrying value of investment property at the Statement of Financial Position date.

In July 2024, this property was sold for £305,000.

J McFadyen
(Building Contractors) Limited (Registered number: SC084200)

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

5. INVESTMENT PROPERTY - continued

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2024 78,825
Cost 226,175
305,000

6. RESERVES
Fair
value
reserve
£   
At 1 July 2023 3,825
Property revaluation 75,000

At 30 June 2024 78,825

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, the balance of loans due to the directors was £64,910. (2023: £1,021) The director's loans are interest free and repayable on demand.