Company Registration No. SC662760 (Scotland)
Murray and McGregor Stoves and Fireplaces Ltd
Unaudited accounts
for the year ended 30 June 2024
Murray and McGregor Stoves and Fireplaces Ltd
Unaudited accounts
Contents
Murray and McGregor Stoves and Fireplaces Ltd
Company Information
for the year ended 30 June 2024
Company Number
SC662760 (Scotland)
Registered Office
UNIT 7, BLOCK 1 DUCKBURN BUSINESS PARK
DUNBLANE
FK15 0EW
SCOTLAND
Accountants
Added Accounting Ltd
8 Whitehouse Crescent
Gorebridge
EH23 4FT
Murray and McGregor Stoves and Fireplaces Ltd
Statement of financial position
as at 30 June 2024
Tangible assets
25,283
28,066
Inventories
128,967
136,477
Cash at bank and in hand
15,770
91,059
Creditors: amounts falling due within one year
(173,118)
(297,331)
Net current assets
26,386
35,527
Total assets less current liabilities
51,669
63,593
Creditors: amounts falling due after more than one year
(26,973)
(31,943)
Called up share capital
1
1
Profit and loss account
24,695
31,649
Shareholders' funds
24,696
31,650
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 February 2025 and were signed on its behalf by
Mr Ross Poole
Director
Company Registration No. SC662760
Murray and McGregor Stoves and Fireplaces Ltd
Notes to the Accounts
for the year ended 30 June 2024
Murray and McGregor Stoves and Fireplaces Ltd is a private company, limited by shares, registered in Scotland, registration number SC662760. The registered office is UNIT 7, BLOCK 1 DUCKBURN BUSINESS PARK, DUNBLANE, FK15 0EW, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight Line over 4 years
Fixtures & fittings
Straight Line over 10 years
Computer equipment
Straight Line over 3 years
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Murray and McGregor Stoves and Fireplaces Ltd
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2023
281
27,413
2,391
30,085
At 30 June 2024
430
27,413
3,253
31,096
At 1 July 2023
43
1,431
545
2,019
Charge for the year
43
2,642
1,109
3,794
At 30 June 2024
86
4,073
1,654
5,813
At 30 June 2024
344
23,340
1,599
25,283
At 30 June 2023
238
25,982
1,846
28,066
Amounts falling due within one year
Trade debtors
32,858
84,272
Other debtors
19,781
21,050
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
6,434
6,483
Trade creditors
27,427
35,193
Taxes and social security
7,580
10,064
Loans from directors
109,254
165,241
Deferred income
21,185
74,209
7
Creditors: amounts falling due after more than one year
2024
2023
8
Average number of employees
During the year the average number of employees was 5 (2023: 5).