IRIS Accounts Production v25.1.0.734 SC233241 Board of Directors Board of Directors 1.10.23 30.9.24 30.9.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2332412023-09-30SC2332412024-09-30SC2332412023-10-012024-09-30SC2332412022-09-30SC2332412022-10-012023-09-30SC2332412023-09-30SC233241ns15:Scotland2023-10-012024-09-30SC233241ns14:PoundSterling2023-10-012024-09-30SC233241ns10:Director12023-10-012024-09-30SC233241ns10:Director22023-10-012024-09-30SC233241ns10:PrivateLimitedCompanyLtd2023-10-012024-09-30SC233241ns10:SmallEntities2023-10-012024-09-30SC233241ns10:AuditExemptWithAccountantsReport2023-10-012024-09-30SC233241ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-30SC233241ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-30SC233241ns10:FullAccounts2023-10-012024-09-30SC23324112023-10-012024-09-30SC233241ns10:RegisteredOffice2023-10-012024-09-30SC233241ns5:CurrentFinancialInstruments2024-09-30SC233241ns5:CurrentFinancialInstruments2023-09-30SC233241ns5:Non-currentFinancialInstruments2024-09-30SC233241ns5:Non-currentFinancialInstruments2023-09-30SC233241ns5:ShareCapital2024-09-30SC233241ns5:ShareCapital2023-09-30SC233241ns5:RetainedEarningsAccumulatedLosses2024-09-30SC233241ns5:RetainedEarningsAccumulatedLosses2023-09-30SC233241ns5:NetGoodwill2023-10-012024-09-30SC233241ns5:IntangibleAssetsOtherThanGoodwill2023-10-012024-09-30SC233241ns5:PlantMachinery2023-10-012024-09-30SC233241ns5:NetGoodwill2023-09-30SC233241ns5:NetGoodwill2024-09-30SC233241ns5:NetGoodwill2023-09-30SC233241ns5:PlantMachinery2023-09-30SC233241ns5:PlantMachinery2024-09-30SC233241ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-09-30SC233241ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-09-30SC233241ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-09-30SC233241ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-30SC233241ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-30SC233241ns5:Secured2024-09-30SC233241ns5:Secured2023-09-30
REGISTERED NUMBER: SC233241 (Scotland)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

MacMillan & Shaw Golf Supplies Limited

MacMillan & Shaw Golf Supplies Limited (Registered number: SC233241)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

MacMillan & Shaw Golf Supplies Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: D C MacMillan
G Shaw



REGISTERED OFFICE: 29 Brandon Street
Hamilton
ML3 6DA



REGISTERED NUMBER: SC233241 (Scotland)



ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA



BANKERS: The Royal Bank of Scotland plc
239 St John's Road
Edinburgh
EH12 7XB

MacMillan & Shaw Golf Supplies Limited (Registered number: SC233241)

Balance Sheet
30 September 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 31,665 41,272
Debtors 7 30,632 25,650
Cash at bank 46,318 43,611
108,615 110,533
CREDITORS
Amounts falling due within one year 8 84,545 69,966
NET CURRENT ASSETS 24,070 40,567
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,070

40,567

CREDITORS
Amounts falling due after more than one
year

9

6,323

15,757
NET ASSETS 17,747 24,810

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 17,745 24,808
SHAREHOLDERS' FUNDS 17,747 24,810

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

MacMillan & Shaw Golf Supplies Limited (Registered number: SC233241)

Balance Sheet - continued
30 September 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 2 June 2025 and were signed on its behalf by:




D C MacMillan - Director



G Shaw - Director


MacMillan & Shaw Golf Supplies Limited (Registered number: SC233241)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

MacMillan & Shaw Golf Supplies 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. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from various golf equipment supplied by the company.

Turnover is measured at the fair value of golf equipment products supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 33% on cost, 25% on cost and 15% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

MacMillan & Shaw Golf Supplies Limited (Registered number: SC233241)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit and loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amounts of stocks recognised as an expense in the period in which the reversal occurs.

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 taxation
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 and 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 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 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 on a straight line basis.

4. EMPLOYEES AND DIRECTORS

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

MacMillan & Shaw Golf Supplies Limited (Registered number: SC233241)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 20,000
AMORTISATION
At 1 October 2023
and 30 September 2024 20,000
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023
and 30 September 2024 18,749
DEPRECIATION
At 1 October 2023
and 30 September 2024 18,749
NET BOOK VALUE
At 30 September 2024 -

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

Plant and
machinery
etc
£   
COST
At 1 October 2023
and 30 September 2024 15,490
DEPRECIATION
At 1 October 2023
and 30 September 2024 15,490
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

MacMillan & Shaw Golf Supplies Limited (Registered number: SC233241)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 30,632 25,650

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,569 8,062
Hire purchase contracts 1,865 2,798
Trade creditors 11,624 19,731
Taxation and social security 23,690 15,667
Other creditors 39,797 23,708
84,545 69,966

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 6,323 13,892
Hire purchase contracts - 1,865
6,323 15,757

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 13,892 21,954
Hire purchase contracts 1,865 4,663
15,757 26,617

The bank overdraft is secured by a bond and floating charge over the assets and undertakings of the company.

Hire purchase contracts are secured over the assets concerned.

The bank loan is supported by a 100% guarantee from the UK Government.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the directors' advanced loans totalling £16,089 to the company. At the year end, the balance due to the directors' was £37,466 (2023: £21,378). This loan is unsecured, interest free and has no fixed repayment terms.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
MacMillan & Shaw Golf Supplies Limited

The following reproduces the text of the report prepared for the directors 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 Directors 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 MacMillan & Shaw Golf Supplies Limited for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Board of Directors of MacMillan & Shaw Golf Supplies Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MacMillan & Shaw Golf Supplies Limited and state those matters that we have agreed to state to the Board of Directors of MacMillan & Shaw Golf Supplies Limited, as a body, 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 Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that MacMillan & Shaw Golf Supplies 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 MacMillan & Shaw Golf Supplies Limited. You consider that MacMillan & Shaw Golf Supplies 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 MacMillan & Shaw Golf Supplies 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.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


3 June 2025