MCPHERSONS ATLANTIC LIMITED

Company Registration Number:
SC120158 (Scotland)

Unaudited statutory accounts for the year ended 28 February 2025

Period of accounts

Start date: 29 February 2024

End date: 28 February 2025

MCPHERSONS ATLANTIC LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2025

Balance sheet
Additional notes
Balance sheet notes

MCPHERSONS ATLANTIC LIMITED

Balance sheet

As at 28 February 2025

Notes 2025 2024


£

£
Fixed assets
Tangible assets: 3 499,084 477,912
Total fixed assets: 499,084 477,912
Current assets
Stocks: 4 16,000 10,800
Debtors: 5 171,484 146,077
Cash at bank and in hand: 11 11
Total current assets: 187,495 156,888
Creditors: amounts falling due within one year: 6 ( 324,905 ) ( 269,917 )
Net current assets (liabilities): (137,410) (113,029)
Total assets less current liabilities: 361,674 364,883
Creditors: amounts falling due after more than one year: 7 ( 156,020 ) ( 222,059 )
Total net assets (liabilities): 205,654 142,824
Capital and reserves
Called up share capital: 3,679 3,679
Other reserves: 210,000 210,000
Profit and loss account: (8,025 ) (70,855 )
Total Shareholders' funds: 205,654 142,824

The notes form part of these financial statements

MCPHERSONS ATLANTIC LIMITED

Balance sheet statements

For the year ending 28 February 2025 the company was entitled to exemption 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 directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 6 June 2025
and signed on behalf of the board by:

Name: Mr Dru McPherson
Status: Director

The notes form part of these financial statements

MCPHERSONS ATLANTIC LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2025

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

    Tangible fixed assets depreciation policy

    Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows: Land and buildings - not depreciated Plant and machinery - 10/20% reducing balance Furniture and fittings - 10/20% reducing balance Motor vehicles - 25% reducing balance

    Valuation information and policy

    Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

MCPHERSONS ATLANTIC LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2025

  • 2. Employees

    2025 2024
    Average number of employees during the period 4 5

MCPHERSONS ATLANTIC LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2025

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 29 February 2024 365,000 125,366 28,907 143,987 663,260
Additions
Disposals
Revaluations
Transfers
At 28 February 2025 365,000 125,366 28,907 143,987 663,260
Depreciation
At 29 February 2024 57,446 28,200 99,702 185,348
Charge for year 7,639 118 11,071 18,828
On disposals
Other adjustments 40,000 40,000
At 28 February 2025 25,085 28,318 110,773 164,176
Net book value
At 28 February 2025 365,000 100,281 589 33,214 499,084
At 28 February 2024 365,000 67,920 707 44,285 477,912

MCPHERSONS ATLANTIC LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2025

4. Stocks

2025 2024
£ £
Stocks 16,000 10,800
Total 16,000 10,800

MCPHERSONS ATLANTIC LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2025

5. Debtors

2025 2024
£ £
Trade debtors 60,630 56,353
Prepayments and accrued income 81,277 62,000
Other debtors 29,577 27,724
Total 171,484 146,077

MCPHERSONS ATLANTIC LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2025

6. Creditors: amounts falling due within one year note

2025 2024
£ £
Bank loans and overdrafts 133,708 127,146
Amounts due under finance leases and hire purchase contracts 17,457 16,089
Trade creditors 11,901 2,888
Taxation and social security 3,007 2,229
Accruals and deferred income 29,883 31,395
Other creditors 128,949 90,170
Total 324,905 269,917

MCPHERSONS ATLANTIC LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2025

7. Creditors: amounts falling due after more than one year note

2025 2024
£ £
Bank loans and overdrafts 29,508 43,741
Amounts due under finance leases and hire purchase contracts 42,056 55,907
Other creditors 84,456 122,411
Total 156,020 222,059