Acorah Software Products - Accounts Production 16.2.800 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 SC601442 Scott McLaren Ronald McLaren iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC601442 2023-07-31 SC601442 2024-07-31 SC601442 2023-08-01 2024-07-31 SC601442 frs-core:CurrentFinancialInstruments 2024-07-31 SC601442 frs-core:Non-currentFinancialInstruments 2024-07-31 SC601442 frs-core:FurnitureFittings 2024-07-31 SC601442 frs-core:FurnitureFittings 2023-08-01 2024-07-31 SC601442 frs-core:FurnitureFittings 2023-07-31 SC601442 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-07-31 SC601442 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 SC601442 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-31 SC601442 frs-core:MotorVehicles 2024-07-31 SC601442 frs-core:MotorVehicles 2023-08-01 2024-07-31 SC601442 frs-core:MotorVehicles 2023-07-31 SC601442 frs-core:PlantMachinery 2024-07-31 SC601442 frs-core:PlantMachinery 2023-08-01 2024-07-31 SC601442 frs-core:PlantMachinery 2023-07-31 SC601442 frs-core:ShareCapital 2024-07-31 SC601442 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 SC601442 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 SC601442 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 SC601442 frs-bus:SmallEntities 2023-08-01 2024-07-31 SC601442 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 SC601442 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 SC601442 frs-bus:Director1 2023-08-01 2024-07-31 SC601442 frs-bus:Director2 2023-08-01 2024-07-31 SC601442 frs-countries:Scotland 2023-08-01 2024-07-31 SC601442 2022-07-31 SC601442 2023-07-31 SC601442 2022-08-01 2023-07-31 SC601442 frs-core:CurrentFinancialInstruments 2023-07-31 SC601442 frs-core:Non-currentFinancialInstruments 2023-07-31 SC601442 frs-core:ShareCapital 2023-07-31 SC601442 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: SC601442
McLaren Agricultural Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC601442
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 415,163 473,405
415,163 473,405
CURRENT ASSETS
Stocks 5 2,100 5,500
Debtors 6 14,086 79,272
Cash at bank and in hand 45,564 10,557
61,750 95,329
Creditors: Amounts Falling Due Within One Year 7 (286,180 ) (322,886 )
NET CURRENT ASSETS (LIABILITIES) (224,430 ) (227,557 )
TOTAL ASSETS LESS CURRENT LIABILITIES 190,733 245,848
Creditors: Amounts Falling Due After More Than One Year 8 (134,269 ) (191,079 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (31,307 ) (50,771 )
NET ASSETS 25,157 3,998
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 25,057 3,898
SHAREHOLDERS' FUNDS 25,157 3,998
Page 1
Page 2
For the year ending 31 July 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Scott McLaren
Director
9 April 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
McLaren Agricultural Limited is a private company, limited by shares, incorporated in Scotland, registered number SC601442 . The registered office is Waterside Steading, Kintore, Inverurie, AB51 0UN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. 
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Plant & Machinery 15% reducing balance
Motor Vehicles 15% reducing balance
Fixtures & Fittings 20% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. 
2.6. Financial Instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors and directors' loans.
Trade debtors and trade creditors are measured at the undiscounted amounts receivable from a customer or payable to a supplier, which is normally the invoice price.
Directors' loans are measured at the undiscounted amount of cash expected to be paid.
Trade debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in profit or loss. 
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 August 2023 245,185 161,426 136,650 114 543,375
Additions - 7,725 50,605 - 58,330
Disposals - (110,841 ) (1,800 ) - (112,641 )
As at 31 July 2024 245,185 58,310 185,455 114 489,064
Depreciation
As at 1 August 2023 - 59,049 10,807 114 69,970
Provided during the period - 3,687 26,309 - 29,996
Disposals - (25,817 ) (248 ) - (26,065 )
As at 31 July 2024 - 36,919 36,868 114 73,901
Net Book Value
As at 31 July 2024 245,185 21,391 148,587 - 415,163
As at 1 August 2023 245,185 102,377 125,843 - 473,405
5. Stocks
2024 2023
£ £
Stock 2,100 5,500
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 10,086 40,995
Other debtors 4,000 38,277
14,086 79,272
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,078 24,478
Trade creditors 2,051 21,470
Bank loans and overdrafts 5,904 5,562
Other taxes and social security - 911
VAT 12,281 6,856
Other creditors 10,606 -
Accruals and deferred income 851 1,282
Directors' loan accounts 240,409 262,327
286,180 322,886
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 51,313 106,991
Bank loans 82,956 84,088
134,269 191,079
9. Secured Creditors
The bank loan and the hire purchase liabilities are secured against the assets to which they relate.
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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