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REGISTERED NUMBER: SC530397 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 September 2024

for

MCGREGOR COLLINS LIMITED

MCGREGOR COLLINS LIMITED (REGISTERED NUMBER: SC530397)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MCGREGOR COLLINS LIMITED

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mrs F L McGregor
A M P McGregor





REGISTERED OFFICE: Suite 411 Baltic Chambers
50 Wellington Street
Glasgow
G2 6HJ





REGISTERED NUMBER: SC530397 (Scotland)





ACCOUNTANTS: SD Business Management
Suite 4.5, Turnberry House
175 West George Street
Glasgow
Strathclyde
G2 2LB

MCGREGOR COLLINS LIMITED (REGISTERED NUMBER: SC530397)

Abridged Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 985,965 992,150
Investments 5 1 1
985,966 992,151

CURRENT ASSETS
Debtors 150,000 127,345
Cash at bank 14,854 1,575
164,854 128,920
CREDITORS
Amounts falling due within one year 267,105 123,249
NET CURRENT (LIABILITIES)/ASSETS (102,251 ) 5,671
TOTAL ASSETS LESS CURRENT LIABILITIES 883,715 997,822

CREDITORS
Amounts falling due after more than one
year

(848,073

)

(906,514

)

PROVISIONS FOR LIABILITIES (40,099 ) (60,684 )
NET (LIABILITIES)/ASSETS (4,457 ) 30,624

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (4,557 ) 30,524
(4,457 ) 30,624

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.

MCGREGOR COLLINS LIMITED (REGISTERED NUMBER: SC530397)

Abridged 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 24 June 2025 and were signed on its behalf by:





A M P McGregor - Director


MCGREGOR COLLINS LIMITED (REGISTERED NUMBER: SC530397)

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

1. STATUTORY INFORMATION

McGregor Collins 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
In accordance with their responsibilities as directors, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 0.00%
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MCGREGOR COLLINS LIMITED (REGISTERED NUMBER: SC530397)

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

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023 1,110,070
Additions 52,642
At 30 September 2024 1,162,712
DEPRECIATION
At 1 October 2023 117,920
Charge for year 58,827
At 30 September 2024 176,747
NET BOOK VALUE
At 30 September 2024 985,965
At 30 September 2023 992,150

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

Totals
£   
COST
At 1 October 2023 25,632
Additions 12,816
At 30 September 2024 38,448
DEPRECIATION
At 1 October 2023 6,408
Charge for year 8,010
At 30 September 2024 14,418
NET BOOK VALUE
At 30 September 2024 24,030
At 30 September 2023 19,224

MCGREGOR COLLINS LIMITED (REGISTERED NUMBER: SC530397)

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

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 October 2023
and 30 September 2024 1
NET BOOK VALUE
At 30 September 2024 1
At 30 September 2023 1

6. LOANS

An analysis of the maturity of loans is given below:

30.9.24 30.9.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 58,994 58,994

Amounts falling due between two and five years:
Bank loans - 2-5 years 781,044 815,920

7. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 840,038 874,914

The Bank of Scotland hold a standard security and bond and floating charge over the Companies Assets.