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REGISTERED NUMBER: SC393896 (Scotland)











Unaudited Financial Statements for the Year Ended 31st August 2024

for

McDougall Commercials Limited

McDougall Commercials Limited (Registered number: SC393896)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6

Report of the Accountants 7

McDougall Commercials Limited

Company Information
for the Year Ended 31st August 2024







DIRECTORS: P K Lisak
M W Shankland





REGISTERED OFFICE: Unit 3
Dargavel Stores
Lockerbie Road
Dumfries
DUMFRIESSHIRE
DG1 3PG





REGISTERED NUMBER: SC393896 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

McDougall Commercials Limited (Registered number: SC393896)

Balance Sheet
31st August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 278,205 168,644

CURRENT ASSETS
Stocks 2,750 2,750
Debtors 5 349,006 304,104
Cash at bank and in hand 249,922 100,531
601,678 407,385
CREDITORS
Amounts falling due within one year 6 304,656 216,533
NET CURRENT ASSETS 297,022 190,852
TOTAL ASSETS LESS CURRENT
LIABILITIES

575,227

359,496

CREDITORS
Amounts falling due after more than one year 7 (61,171 ) (30,815 )

PROVISIONS FOR LIABILITIES (63,281 ) (35,490 )
NET ASSETS 450,775 293,191

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 450,675 293,091
SHAREHOLDERS' FUNDS 450,775 293,191

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17th March 2025 and were signed on its behalf by:





M W Shankland - Director


McDougall Commercials Limited (Registered number: SC393896)

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

1. STATUTORY INFORMATION

McDougall Commercials 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.

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 from servicing and repairing commercial vehicles, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Amounts written off each asset over the estimated useful life represent cost less residual value.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
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.

Pensions
The company makes contributions into a recognised UK defined contribution pension scheme. The company also makes regular payments into a pension scheme on behalf of the directors but is not contractually obliged to do so. Contributions paid in the year are charged in the profit and loss account.

McDougall Commercials Limited (Registered number: SC393896)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 22 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st September 2023 535,975
Additions 210,101
Disposals (51,500 )
At 31st August 2024 694,576
DEPRECIATION
At 1st September 2023 367,331
Charge for year 68,180
Eliminated on disposal (19,140 )
At 31st August 2024 416,371
NET BOOK VALUE
At 31st August 2024 278,205
At 31st August 2023 168,644

McDougall Commercials Limited (Registered number: SC393896)

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

4. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 1st September 2023 30,200
Additions 90,000
At 31st August 2024 120,200
DEPRECIATION
At 1st September 2023 13,210
Charge for year 26,750
At 31st August 2024 39,960
NET BOOK VALUE
At 31st August 2024 80,240
At 31st August 2023 16,990

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 322,458 299,034
Other debtors 26,548 5,070
349,006 304,104

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,000 6,000
Hire purchase contracts 18,019 3,519
Trade creditors 65,481 93,730
Taxation and social security 147,150 102,141
Other creditors 68,006 11,143
304,656 216,533

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 6,500 12,500
Hire purchase contracts 54,671 18,315
61,171 30,815

McDougall Commercials Limited (Registered number: SC393896)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 72,690 21,834

The hire purchase creditor is secured on the assets on which the finance is actually outstanding.

9. RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary of McDougall Commercials Holdings Limited.

During the year dividends totalling £171,652 were paid to McDougall Commercials Holdings Limited.

McDougall Commercials Limited

Report of the Accountants to the Directors of
McDougall Commercials Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st August 2024 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ


17th March 2025