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REGISTERED NUMBER: SC288944 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

Macd Electrical Ltd.

Macd Electrical Ltd. (Registered number: SC288944)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Macd Electrical Ltd.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: D MacDonald
Mrs F MacDonald





REGISTERED OFFICE: 79 Eastmuir Street
Block 4 Unit 51
Annick Industrial Estate, Shettleston
Glasgow
G32 0HS





REGISTERED NUMBER: SC288944 (Scotland)





ACCOUNTANTS: Burgoyne Carey
Chartered Accountants
Pavilion 2
3 Dava Street
Broomloan Road
Glasgow
G51 2JA

Macd Electrical Ltd. (Registered number: SC288944)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 400,242 138,048

CURRENT ASSETS
Stocks 449,860 304,000
Debtors 5 276,840 321,056
Cash at bank and in hand 348,387 321,291
1,075,087 946,347
CREDITORS
Amounts falling due within one year 6 760,339 618,652
NET CURRENT ASSETS 314,748 327,695
TOTAL ASSETS LESS CURRENT
LIABILITIES

714,990

465,743

CREDITORS
Amounts falling due after more than one
year

7

(216,473

)

(41,167

)

PROVISIONS FOR LIABILITIES (37,810 ) (20,413 )
NET ASSETS 460,707 404,163

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 460,607 404,063
SHAREHOLDERS' FUNDS 460,707 404,163

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

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

Macd Electrical Ltd. (Registered number: SC288944)

BALANCE SHEET - continued
31 JULY 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 10 April 2025 and were signed on its behalf by:





D MacDonald - Director


Macd Electrical Ltd. (Registered number: SC288944)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Macd Electrical 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 represents amounts invoiced during the year net, exclusive of Value Added Tax.

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, 25% on cost and 15% on reducing balance

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

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.

Macd Electrical Ltd. (Registered number: SC288944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 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.

The company makes payments on behalf of the employees into money purchase pension schemes.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 346,812
Additions 323,490
Disposals (131,845 )
At 31 July 2024 538,457
DEPRECIATION
At 1 August 2023 208,764
Charge for year 44,276
Eliminated on disposal (114,825 )
At 31 July 2024 138,215
NET BOOK VALUE
At 31 July 2024 400,242
At 31 July 2023 138,048

Macd Electrical Ltd. (Registered number: SC288944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

4. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 1 August 2023 269,517
Additions 295,644
Disposals (131,845 )
At 31 July 2024 433,316
DEPRECIATION
At 1 August 2023 144,389
Charge for year 38,466
Eliminated on disposal (114,825 )
At 31 July 2024 68,030
NET BOOK VALUE
At 31 July 2024 365,286
At 31 July 2023 125,128

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 190,895 286,798
Other debtors 85,945 34,258
276,840 321,056

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts and finance leases 46,188 46,096
Trade creditors 522,811 265,040
Taxation and social security 56,212 125,853
Other creditors 135,128 181,663
760,339 618,652

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts and finance leases 216,473 41,167

Macd Electrical Ltd. (Registered number: SC288944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits from directors subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
D MacDonald and Mrs F MacDonald
Balance outstanding at start of year - (86 )
Amounts repaid (1,007 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,007 ) -

9. RELATED PARTY DISCLOSURES

Synergy Building Consultants Ltd, a company controlled by the directors D MacDonald and F MacDonald, was charged £120,410 (2023: £83,000) during the year for consultancy services.