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Registration number: SC443536

MacGochans Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

MacGochans Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 12

 

MacGochans Limited

Company Information

Director

Mr Neil Morrison

Registered office

Macgochans Ledaig
Tobermory
Isle Of Mull
Argyll
PA75 6NR

Accountants

Jack MacDonald & Co Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

 

MacGochans Limited

Director's Report for the Year Ended 31 March 2025

The director presents his report and the financial statements for the year ended 31 March 2025.

Director of the company

The director who held office during the year was as follows:

Mr Neil Morrison

Principal activity

The principal activity of the company is running a bar

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 6 August 2025
 

.........................................
Mr Neil Morrison
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
MacGochans Limited
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MacGochans Limited for the year ended 31 March 2025 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of MacGochans Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of MacGochans Limited and state those matters that we have agreed to state to the Board of Directors of MacGochans Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MacGochans Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that MacGochans 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 MacGochans Limited. You consider that MacGochans 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 MacGochans 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.

......................................

Jack MacDonald & Co
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

6 August 2025

 

MacGochans Limited

Profit and Loss Account for the Year Ended 31 March 2025

Note

2025
£

2024
£

Turnover

 

1,014,456

1,335,850

Cost of sales

 

(742,296)

(1,054,163)

Gross profit

 

272,160

281,687

Administrative expenses

 

(306,453)

(357,574)

Other operating income

 

100,000

-

Operating profit/(loss)

 

65,707

(75,887)

Interest payable and similar expenses

 

(1,381)

-

Profit/(loss) before tax

3

64,326

(75,887)

Profit/(loss) for the financial year

 

64,326

(75,887)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

MacGochans Limited

Statement of Comprehensive Income for the Year Ended 31 March 2025

2025
£

2024
£

Profit/(loss) for the year

64,326

(75,887)

Total comprehensive income for the year

64,326

(75,887)

 

MacGochans Limited

(Registration number: SC443536)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

10,196

9,576

Current assets

 

Debtors

5

613,555

561,156

Cash at bank and in hand

 

58,303

75,203

 

671,858

636,359

Creditors: Amounts falling due within one year

6

(346,457)

(364,664)

Net current assets

 

325,401

271,695

Total assets less current liabilities

 

335,597

281,271

Creditors: Amounts falling due after more than one year

6

(11,735)

(21,735)

Net assets

 

323,862

259,536

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

323,861

259,535

Shareholders' funds

 

323,862

259,536

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 6 August 2025
 

.........................................
Mr Neil Morrison
Director

 

MacGochans Limited

Statement of Changes in Equity for the Year Ended 31 March 2025

Share capital
£

Retained earnings
£

Total
£

At 1 April 2024

1

259,535

259,536

Profit for the year

-

64,326

64,326

At 31 March 2025

1

323,861

323,862

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

1

335,422

335,423

Loss for the year

-

(75,887)

(75,887)

At 31 March 2024

1

259,535

259,536

 

MacGochans Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

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 assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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:

Asset class

Depreciation method and rate

Plant & machinery

20% reducing balance

Fixtures & fittings

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

MacGochans Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 15 (2024 - 15).

 

MacGochans Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

3

Profit/loss before tax

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

1,280

1,234

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2024

4,641

65,481

46,634

116,756

Additions

-

1,900

-

1,900

At 31 March 2025

4,641

67,381

46,634

118,656

Depreciation

At 1 April 2024

-

60,953

46,227

107,180

Charge for the year

-

1,200

80

1,280

At 31 March 2025

-

62,153

46,307

108,460

Carrying amount

At 31 March 2025

4,641

5,228

327

10,196

At 31 March 2024

4,641

4,528

407

9,576

Included within the net book value of land and buildings above is £4,641 (2024 - £4,641) in respect of short leasehold land and buildings.
 

5

Debtors

Current

Note

2025
£

2024
£

Amounts owed by related parties

9

475,930

475,930

Other debtors

 

137,625

85,226

   

613,555

561,156

 

MacGochans Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

8,384

33,210

Taxation and social security

3,097

45,446

Accruals and deferred income

4,000

4,000

Other creditors

330,976

282,008

346,457

364,664

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

11,735

21,735

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

11,735

21,735

9

Related party transactions

Summary of transactions with parent

Dunard Holdings Limited

Summary of transactions with other related parties

 

MacGochans Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Mr N Morrison (director & shareholder of parent company) Consultancy fees paid £31,200 (2024 - £26,400)

Loans to related parties

2025

Parent
£

Total
£

At start of period

475,930

475,930

At end of period

475,930

475,930

10

Parent and ultimate parent undertaking

The company's immediate parent is Dunard Holdings Limited, incorporated in Scotland.