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REGISTERED NUMBER: SC158183 (Scotland)


















Unaudited Financial Statements for the Year Ended 31 May 2024

for

McLay McAlister & McGibbon (Ayr) Ltd

McLay McAlister & McGibbon (Ayr) Ltd (Registered number: SC158183)






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


McLay McAlister & McGibbon (Ayr) Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: P Martin
A McCaw
G Macshannon





SECRETARY: P Martin





REGISTERED OFFICE: 145 St Vincent Street
Glasgow
G2 5JF





REGISTERED NUMBER: SC158183 (Scotland)





ACCOUNTANTS: McLay, McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

McLay McAlister & McGibbon (Ayr) Ltd (Registered number: SC158183)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 11,139 319,527
11,139 319,527

CURRENT ASSETS
Stocks 174,000 195,000
Debtors 6 217,197 262,294
Cash at bank and in hand 185,261 44,271
576,458 501,565
CREDITORS
Amounts falling due within one year 7 123,437 214,087
NET CURRENT ASSETS 453,021 287,478
TOTAL ASSETS LESS CURRENT
LIABILITIES

464,160

607,005

CREDITORS
Amounts falling due after more than one
year

8

(11,500

)

(194,791

)

PROVISIONS FOR LIABILITIES (1,967 ) (2,703 )
NET ASSETS 450,693 409,511

CAPITAL AND RESERVES
Called up share capital 32 32
Retained earnings 450,661 409,479
SHAREHOLDERS' FUNDS 450,693 409,511

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.

McLay McAlister & McGibbon (Ayr) Ltd (Registered number: SC158183)

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 27 February 2025 and were signed on its behalf by:





P Martin - Director


McLay McAlister & McGibbon (Ayr) Ltd (Registered number: SC158183)

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

1. STATUTORY INFORMATION

McLay McAlister & McGibbon (Ayr) 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 businesses in 2005 and 2014, is being amortised evenly over their estimated useful lives of ten and five years respectively.

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.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on cost

The company's policy is to review the remaining useful lives and residual value of all tangible assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Stocks
Work in progress is valued at selling price less provisions for non recoverable time.

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.

3. EMPLOYEES AND DIRECTORS

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

McLay McAlister & McGibbon (Ayr) Ltd (Registered number: SC158183)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 578,587
AMORTISATION
At 1 June 2023
and 31 May 2024 578,587
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 371,153 43,072 414,225
Additions - 1,515 1,515
Disposals (371,153 ) - (371,153 )
At 31 May 2024 - 44,587 44,587
DEPRECIATION
At 1 June 2023 66,812 27,886 94,698
Charge for year - 5,562 5,562
Eliminated on disposal (66,812 ) - (66,812 )
At 31 May 2024 - 33,448 33,448
NET BOOK VALUE
At 31 May 2024 - 11,139 11,139
At 31 May 2023 304,341 15,186 319,527

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 211,036 256,588
Other debtors 6,161 5,706
217,197 262,294

McLay McAlister & McGibbon (Ayr) Ltd (Registered number: SC158183)

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 5,591 60,000
Taxation and social security 87,667 123,552
Other creditors 30,179 30,535
123,437 214,087

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 11,500 194,791

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 66,495

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.5.24 31.5.23
£    £   
Within one year 13,368 15,758
Between one and five years 29,756 41,224
43,124 56,982

10. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 17,091 254,791