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REGISTERED NUMBER: SC483457 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

MacGordon Freight Ltd

MacGordon Freight Ltd (Registered number: SC483457)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MacGordon Freight Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: S R Gordon
J Macdonald





REGISTERED OFFICE: Speedy Freight Edinburgh
Room 202, EH20 Business Centre
Dryden Road, Bilston Glen Industrial Est
Loanhead
EH20 9LZ





REGISTERED NUMBER: SC483457 (Scotland)





ACCOUNTANTS: EQ Accountants Ltd
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

MacGordon Freight Ltd (Registered number: SC483457)

Balance Sheet
31 August 2024

31/8/24 31/8/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 59,665 50,046
59,665 50,046

CURRENT ASSETS
Stocks 57,359 50,428
Debtors 6 156,029 107,314
Cash at bank 44,830 60,882
258,218 218,624
CREDITORS
Amounts falling due within one year 7 238,867 255,715
NET CURRENT ASSETS/(LIABILITIES) 19,351 (37,091 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

79,016

12,955

CREDITORS
Amounts falling due after more than one
year

8

(22,184

)

-

PROVISIONS FOR LIABILITIES (15,000 ) (10,000 )
NET ASSETS 41,832 2,955

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 41,732 2,855
41,832 2,955

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

MacGordon Freight Ltd (Registered number: SC483457)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2025 and were signed on its behalf by:




J Macdonald - Director



S R Gordon - Director


MacGordon Freight Ltd (Registered number: SC483457)

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

1. STATUTORY INFORMATION

MacGordon Freight 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 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.

MacGordon Freight Ltd (Registered number: SC483457)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 September 2023
and 31 August 2024 163,141
AMORTISATION
At 1 September 2023
and 31 August 2024 163,141
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 1,345 26,261 133,580 1,918 163,104
Additions - - 28,520 - 28,520
At 31 August 2024 1,345 26,261 162,100 1,918 191,624
DEPRECIATION
At 1 September 2023 888 12,721 97,531 1,918 113,058
Charge for year 457 3,385 15,059 - 18,901
At 31 August 2024 1,345 16,106 112,590 1,918 131,959
NET BOOK VALUE
At 31 August 2024 - 10,155 49,510 - 59,665
At 31 August 2023 457 13,540 36,049 - 50,046

MacGordon Freight Ltd (Registered number: SC483457)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Trade debtors 13,190 11,879
Other debtors 142,839 95,435
156,029 107,314

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Bank loans and overdrafts 30,937 45,577
Hire purchase contracts 4,178 24,173
Trade creditors 47,560 7,924
Taxation and social security 110,168 43,577
Other creditors 46,024 134,464
238,867 255,715

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/8/24 31/8/23
£    £   
Hire purchase contracts 22,184 -