Company Registration No. SC458860 (Scotland)
G Mack (Scotland) Limited
Unaudited filleted financial statements
for the year ended 31 October 2024
G Mack (Scotland) Limited
Unaudited filleted financial statements
Contents
G Mack (Scotland) Limited
Company Information
for the year ended 31 October 2024
Company Number
SC458860 (Scotland)
Registered Office
13 Fordyce Way
Auchterarder
Perthshire
PH3 1BE
Accountants
F & R Watson Accountants Limited
16 Kirk Brae
Maybole
KA19 7ER
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
G Mack (Scotland) Limited
for the year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
G Mack (Scotland) Limited for the year ended
31 October 2024 as set out on pages
5 -
9 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of G Mack (Scotland) Limited, as a body, in accordance with the terms of our engagement letter dated 20 August 2024. Our work has been undertaken solely to prepare for your approval the accounts of G Mack (Scotland) Limited and state those matters that we have agreed to state to the Board of Directors of G Mack (Scotland) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G Mack (Scotland) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that G Mack (Scotland) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of G Mack (Scotland) Limited. You consider that G Mack (Scotland) 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 accounts of G Mack (Scotland) 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 accounts.
F & R Watson Accountants Limited
Chartered Certified Accountants
16 Kirk Brae
Maybole
KA19 7ER
22 July 2025
G Mack (Scotland) Limited
Statement of financial position
as at 31 October 2024
Tangible assets
43,641
39,200
Cash at bank and in hand
900
4,973
Creditors: amounts falling due within one year
(95,757)
(89,264)
Net current assets
3,127
4,564
Total assets less current liabilities
46,768
43,764
Creditors: amounts falling due after more than one year
(36,803)
(34,489)
Provisions for liabilities
Deferred tax
(8,147)
(7,307)
Called up share capital
100
100
Profit and loss account
1,718
1,868
Shareholders' funds
1,818
1,968
For the year ending 31 October 2024 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 July 2025 and were signed on its behalf by
Mr G MacKenzie
Director
Company Registration No. SC458860
G Mack (Scotland) Limited
Notes to the Accounts
for the year ended 31 October 2024
G Mack (Scotland) Limited is a private company, limited by shares, registered in Scotland, registration number SC458860. The registered office is 13 Fordyce Way, Auchterarder, Perthshire, PH3 1BE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for at least the twelve months following the approval of the financial statements.
The accounts have been prepared under the historical cost basis.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5, 7, 9 & 10 years straight line
Computer equipment
3 years straight line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
G Mack (Scotland) Limited
Notes to the Accounts
for the year ended 31 October 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments according to the substance of the contractual arrangement.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis, or to realise the assets and settle the liabilities simultaneously.
Financial assets are measured at cost less any provision for impairment. Financial liabilities are measured at principal capital amounts outstanding at the period end.
An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated financial instrument.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 November 2023
170,779
738
171,517
Additions
11,144
729
11,873
At 31 October 2024
181,923
1,151
183,074
At 1 November 2023
131,579
738
132,317
Charge for the year
7,067
365
7,432
At 31 October 2024
138,646
787
139,433
At 31 October 2024
43,277
364
43,641
At 31 October 2023
39,200
-
39,200
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
13,780
3,541
G Mack (Scotland) Limited
Notes to the Accounts
for the year ended 31 October 2024
Amounts falling due within one year
Accrued income and prepayments
9,713
10,499
Other debtors
70,663
72,164
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
15,479
5,330
Obligations under finance leases and hire purchase contracts
2,948
1,120
Trade creditors
18,840
25,485
Taxes and social security
28,632
19,293
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
9,937
2,160
Aggregate of amounts that fall due for payment after five years
3,591
9,627
The company operated a defined contribution pension scheme that was open to all employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the statement of financial position date, unpaid contributions of £332 (2023: £378) were due to the fund. They are included in other creditors due within one year.
9
Operating lease commitments
2024
2023
At 31 October 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
45,930
45,930
Later than one year and not later than five years
128,092
154,024
Later than five years
91,753
111,534
G Mack (Scotland) Limited
Notes to the Accounts
for the year ended 31 October 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's loan
70,000
45,100
46,000
69,100
70,000
45,100
46,000
69,100
During the year the company made advances to a director totalling £45,100 (2023: £70,000). These were repayable on demand and interest was charged at the rate of 2.25%. The company received repayments of £46,000 (2023: £52,000).
11
Average number of employees
During the year the average number of employees was 23 (2023: 24).