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REGISTERED NUMBER: SC273296 (Scotland)















Financial Statements for the Year Ended 31 October 2024

for

MACPHAILS COACHES LIMITED

MACPHAILS COACHES LIMITED (REGISTERED NUMBER: SC273296)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

MACPHAILS COACHES LIMITED

Company Information
for the Year Ended 31 October 2024







DIRECTOR: M MacPhail





SECRETARY: M MacPhail





REGISTERED OFFICE: 40 Main Street
Salsburgh
Shotts
ML7 4LW





REGISTERED NUMBER: SC273296 (Scotland)





ACCOUNTANTS: G O Thomson & Co
Chartered Accountants
13 Hope Street
Lanark
ML11 7NL

MACPHAILS COACHES LIMITED (REGISTERED NUMBER: SC273296)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,952,841 1,477,384

CURRENT ASSETS
Stocks 17,000 17,000
Debtors 5 135,437 153,653
Cash at bank and in hand 763,614 723,421
916,051 894,074
CREDITORS
Amounts falling due within one year 6 1,162,208 1,136,102
NET CURRENT LIABILITIES (246,157 ) (242,028 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,706,684

1,235,356

CREDITORS
Amounts falling due after more than one
year

7

(328,856

)

(265,540

)

PROVISIONS FOR LIABILITIES 8 (369,582 ) (333,646 )
NET ASSETS 1,008,246 636,170

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,008,146 636,070
SHAREHOLDERS' FUNDS 1,008,246 636,170

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

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

MACPHAILS COACHES LIMITED (REGISTERED NUMBER: SC273296)

Balance Sheet - continued
31 October 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 15 May 2025 and were signed by:





M MacPhail - Director


MACPHAILS COACHES LIMITED (REGISTERED NUMBER: SC273296)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Macphails Coaches 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.

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 net invoiced services excluding 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.
Freehold property - 1% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 10% on cost

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

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.

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.

MACPHAILS COACHES LIMITED (REGISTERED NUMBER: SC273296)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 35 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2023 162,673 63,129 12,827 2,998,539 3,237,168
Additions - 19,650 - 771,416 791,066
Disposals - - - (726,717 ) (726,717 )
At 31 October 2024 162,673 82,779 12,827 3,043,238 3,301,517
DEPRECIATION
At 1 November 2023 22,762 29,899 10,331 1,696,792 1,759,784
Charge for year 1,400 7,932 374 266,961 276,667
Eliminated on disposal - - - (687,775 ) (687,775 )
At 31 October 2024 24,162 37,831 10,705 1,275,978 1,348,676
NET BOOK VALUE
At 31 October 2024 138,511 44,948 2,122 1,767,260 1,952,841
At 31 October 2023 139,911 33,230 2,496 1,301,747 1,477,384

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2023 1,194,171
Additions 738,665
At 31 October 2024 1,932,836
DEPRECIATION
At 1 November 2023 328,290
Charge for year 187,280
At 31 October 2024 515,570
NET BOOK VALUE
At 31 October 2024 1,417,266
At 31 October 2023 865,881

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 121,054 129,496
Other debtors 14,383 24,157
135,437 153,653

MACPHAILS COACHES LIMITED (REGISTERED NUMBER: SC273296)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 254,163 162,502
Trade creditors 336,819 35,534
Taxation and social security 78,918 51,361
Other creditors 492,308 886,705
1,162,208 1,136,102

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 328,856 265,540

The bank has a security over the premies at 40 Main Street, Salsburgh, Shotts.

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 369,582 333,646

Deferred
tax
£   
Balance at 1 November 2023 333,646
accelerated capital allowances 35,936
Balance at 31 October 2024 369,582

9. RELATED PARTY DISCLOSURES

Included within other creditors is a loan of £487,847 from the director Martin MacPhail.

10. ULTIMATE CONTROLLING PARTY

In the opinion of the directors there is no ultimate controlling party.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Macphails Coaches Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Macphails Coaches Limited for the year ended 31 October 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the director of Macphails Coaches Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Macphails Coaches Limited and state those matters that we have agreed to state to the director of Macphails Coaches Limited in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Macphails Coaches Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Macphails Coaches Limited. You consider that Macphails Coaches Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Macphails Coaches Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






G O Thomson & Co
Chartered Accountants
13 Hope Street
Lanark
ML11 7NL


15 May 2025