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REGISTERED NUMBER: SC245464 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Morgan Blacksmiths (Scotland) Ltd.

Morgan Blacksmiths (Scotland) Ltd. (Registered number: SC245464)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Morgan Blacksmiths (Scotland) Ltd.

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr C.A. Shanks
Mrs F Linning





SECRETARY: Miss S Linning





REGISTERED OFFICE: 11-13 Lenziemill Road
Lenziemill Industrial Estate
Cumbernauld
North Lanarkshire
G67 2RL





REGISTERED NUMBER: SC245464 (Scotland)





ACCOUNTANTS: Advantage Accounting (Scotland) Ltd
Pavilion 2
Finnieston Business Park
Minerva Way
Glasgow
G3 8AU

Morgan Blacksmiths (Scotland) Ltd. (Registered number: SC245464)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 336,405 339,955
336,405 339,955

CURRENT ASSETS
Stocks 128,520 104,030
Debtors 6 227,613 216,456
Cash at bank 99,520 283,124
455,653 603,610
CREDITORS
Amounts falling due within one year 7 130,345 150,465
NET CURRENT ASSETS 325,308 453,145
TOTAL ASSETS LESS CURRENT
LIABILITIES

661,713

793,100

CREDITORS
Amounts falling due after more than one
year

8

(96,954

)

(239,557

)

PROVISIONS FOR LIABILITIES (17,102 ) (16,800 )
NET ASSETS 547,657 536,743

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 547,557 536,643
SHAREHOLDERS' FUNDS 547,657 536,743

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

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

Morgan Blacksmiths (Scotland) Ltd. (Registered number: SC245464)

Balance Sheet - continued
31 May 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 25 October 2025 and were signed on its behalf by:




Mr C.A. Shanks - Director



Mrs F Linning - Director


Morgan Blacksmiths (Scotland) Ltd. (Registered number: SC245464)

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

1. STATUTORY INFORMATION

Morgan Blacksmiths (Scotland) 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 2003, is being amortised evenly over its estimated useful life of ten 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - not provided
Plant and machinery etc - 25% 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. Work in progress includes a proportionate element of profit where the outcome of the contract can be assessed with reasonable certainty.

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.

Morgan Blacksmiths (Scotland) Ltd. (Registered number: SC245464)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 50,000
AMORTISATION
At 1 June 2023
and 31 May 2024 50,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

Morgan Blacksmiths (Scotland) Ltd. (Registered number: SC245464)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 258,670 307,000 565,670
Additions - 25,210 25,210
Disposals - (43,153 ) (43,153 )
At 31 May 2024 258,670 289,057 547,727
DEPRECIATION
At 1 June 2023 - 225,715 225,715
Charge for year - 23,590 23,590
Eliminated on disposal - (37,983 ) (37,983 )
At 31 May 2024 - 211,322 211,322
NET BOOK VALUE
At 31 May 2024 258,670 77,735 336,405
At 31 May 2023 258,670 81,285 339,955

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023 60,985
Transfer to ownership (19,995 )
At 31 May 2024 40,990
DEPRECIATION
At 1 June 2023 35,206
Charge for year 4,879
Transfer to ownership (13,734 )
At 31 May 2024 26,351
NET BOOK VALUE
At 31 May 2024 14,639
At 31 May 2023 25,779

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 190,561 201,362
Other debtors 37,052 15,094
227,613 216,456

Morgan Blacksmiths (Scotland) Ltd. (Registered number: SC245464)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 10,648 21,272
Hire purchase contracts 4,135 8,315
Trade creditors 124,796 133,909
Taxation and social security (16,209 ) (31,064 )
Other creditors 6,975 18,033
130,345 150,465

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 10,000 103,376
Hire purchase contracts - 4,135
Other creditors 86,954 132,046
96,954 239,557

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 40,926

9. SECURED DEBTS

The Royal Bank of Scotland holds a Standard Fixed Security over the Freehold Property owned by the company.

The Royal Bank of Scotland holds a Bond & Floating Charge over all assets of the company in respect of monies due or becoming due to the bank.

Hire Purchase liabilities are secured against the assets to which they relate.