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REGISTERED NUMBER: SC377014 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

MCGILL CONTRACTS LIMITED

MCGILL CONTRACTS LIMITED (REGISTERED NUMBER: SC377014)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MCGILL CONTRACTS LIMITED

Company Information
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: I McGill





REGISTERED OFFICE: 6th Floor, Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC377014 (Scotland)





ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

MCGILL CONTRACTS LIMITED (REGISTERED NUMBER: SC377014)

Balance Sheet
30 APRIL 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,090 1,455

CURRENT ASSETS
Debtors 5 49,779 50,044
Cash at bank 104 4,013
49,883 54,057
CREDITORS
Amounts falling due within one year 6 77,044 78,979
NET CURRENT LIABILITIES (27,161 ) (24,922 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(26,071

)

(23,467

)

CREDITORS
Amounts falling due after more than one
year

7

10,833

21,238
NET LIABILITIES (36,904 ) (44,705 )

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings (37,006 ) (44,807 )
SHAREHOLDERS' FUNDS (36,904 ) (44,705 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MCGILL CONTRACTS LIMITED (REGISTERED NUMBER: SC377014)

Balance Sheet - continued
30 APRIL 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 director and authorised for issue on 29 April 2025 and were signed by:





I McGill - Director


MCGILL CONTRACTS LIMITED (REGISTERED NUMBER: SC377014)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

McGill Contracts 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The company's liabilities exceeded its assets by £36,904 at 30 April 2024 (2023: £44,705). The company is thus dependent on the continued financial support of its creditors. The director is confident of this continuing support and of the company's long term trading prospects and on this basis considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of financial support.

Turnover
Turnover represents the amounts derived from the provision of goods and services which fall within the company's ordinary activities and is stated net of Value Added Tax. Revenue is recognised on completion of services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on a reducing balance basis
Computer equipment - 33% on a straight line basis

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.


MCGILL CONTRACTS LIMITED (REGISTERED NUMBER: SC377014)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 3,126 204 3,330
DEPRECIATION
At 1 May 2023 1,673 202 1,875
Charge for year 363 2 365
At 30 April 2024 2,036 204 2,240
NET BOOK VALUE
At 30 April 2024 1,090 - 1,090
At 30 April 2023 1,453 2 1,455

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 49,779 50,044

MCGILL CONTRACTS LIMITED (REGISTERED NUMBER: SC377014)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Taxation and social security 1,578 1,080
Other creditors 65,466 67,899
77,044 78,979

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 10,833 21,238

8. RELATED PARTY DISCLOSURES

At 30 April 2024, the company was owed £47,355 (2023: £42,797) by a company under common directorship.

At 30 April 2024, the company owed £62,607 (2023: £52,087) by a company under common directorship.