Barclay MacVicar Limited
Registered number: SC405287
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 25,048 -
Current assets
Debtors 4 38,991 61,396
Cash at bank and in hand 6,214 3,857
45,205 65,253
Creditors: amounts falling due within one year 5 (51,176) (43,042)
Net current (liabilities)/assets (5,971) 22,211
Total assets less current liabilities 19,077 22,211
Creditors: amounts falling due after more than one year 6 (18,750) (21,750)
Net assets 327 461
Capital and reserves
Called up share capital 2 2
Profit and loss account 325 459
Shareholders' funds 327 461
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Allan Macdonald
Director
Approved by the board on 13 May 2025
Barclay MacVicar Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 1,342 - 1,342
Additions - 32,495 32,495
At 31 August 2024 1,342 32,495 33,837
Depreciation
At 1 September 2023 1,342 - 1,342
Charge for the year - 7,447 7,447
At 31 August 2024 1,342 7,447 8,789
Net book value
At 31 August 2024 - 25,048 25,048
4 Debtors 2024 2023
£ £
Trade debtors 9,180 12,420
Other debtors 29,811 48,976
38,991 61,396
Other debtors represents a sum recoverable from the directors at 31 August 2024. This was
repaid on 12 May 2025.
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 23,052 14,834
Other taxes and social security costs 27,274 27,358
Other creditors 850 850
51,176 43,042
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 18,750 21,750
7 Controlling party
The controlling parties are Allan and Gloria Macdonald who each own 50% of the issued share capital of the company.
8 Other information
Barclay MacVicar Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
21 Paddockdyke
SKELMORLIE
PA17 5DA
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