Registered number
SC287233
PC McQueenie Builders Ltd
Filleted Accounts
30 September 2024
PC McQueenie Builders Ltd
Registered number: SC287233
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 135,000 135,000
Tangible assets 4 104,952 94,454
239,952 229,454
Current assets
Work in progress 20,234 46,785
Debtors 5 254,385 280,094
Cash at bank and in hand 125,990 924
400,609 327,803
Creditors: amounts falling due within one year 6 (84,869) (104,311)
Net current assets 315,740 223,492
Total assets less current liabilities 555,692 452,946
Creditors: amounts falling due after more than one year 7 (45,117) (41,240)
Net assets 510,575 411,706
Capital and reserves
Called up share capital 100 100
Profit and loss account 510,475 411,606
Shareholders' funds 510,575 411,706
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C McQueenie
Director
Approved by the board on 23 August 2025
PC McQueenie Builders Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Computer equipment 33% on cost
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 135,000
At 30 September 2024 135,000
Amortisation
At 30 September 2024 -
Net book value
At 30 September 2024 135,000
At 30 September 2023 135,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 15,646 10,432 233,302 259,380
Additions - - 54,380 54,380
Disposals - - (19,730) (19,730)
At 30 September 2024 15,646 10,432 267,952 294,030
Depreciation
At 1 October 2023 14,937 5,809 144,180 164,926
Charge for the year 206 1,156 26,079 27,441
On disposals - - (3,289) (3,289)
At 30 September 2024 15,143 6,965 166,970 189,078
Net book value
At 30 September 2024 503 3,467 100,982 104,952
At 30 September 2023 709 4,623 89,122 94,454
5 Debtors 2024 2023
£ £
Trade debtors 125,344 209,083
Other debtors 129,041 71,011
254,385 280,094
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,152 2,277
Trade creditors 9,336 51,864
Taxation and social security costs 70,258 47,472
Other creditors 2,123 2,698
84,869 104,311
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 45,117 41,240
8 Controlling party
The company was under the control of the director, C McQueenie, throughout the current and previous years.
9 Other information
PC McQueenie Builders Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
40 South Fort Street
Edinburgh
EH6 5NU
PC McQueenie Builders Ltd SC287233 false 2023-10-01 2024-09-30 2024-09-30 VT Final Accounts April 2025 C McQueenie No description of principal activity SC287233 2022-10-01 2023-09-30 SC287233 core:WithinOneYear 2023-09-30 SC287233 core:AfterOneYear 2023-09-30 SC287233 core:ShareCapital 2023-09-30 SC287233 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC287233 2023-10-01 2024-09-30 SC287233 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 SC287233 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 SC287233 bus:Director40 2023-10-01 2024-09-30 SC287233 1 2023-10-01 2024-09-30 SC287233 2 2023-10-01 2024-09-30 SC287233 core:LandBuildings 2023-10-01 2024-09-30 SC287233 core:PlantMachinery 2023-10-01 2024-09-30 SC287233 core:Vehicles 2023-10-01 2024-09-30 SC287233 countries:England 2023-10-01 2024-09-30 SC287233 bus:FRS102 2023-10-01 2024-09-30 SC287233 bus:FilletedAccounts 2023-10-01 2024-09-30 SC287233 2024-09-30 SC287233 core:WithinOneYear 2024-09-30 SC287233 core:AfterOneYear 2024-09-30 SC287233 core:ShareCapital 2024-09-30 SC287233 core:RetainedEarningsAccumulatedLosses 2024-09-30 SC287233 core:Goodwill 2024-09-30 SC287233 core:LandBuildings 2024-09-30 SC287233 core:PlantMachinery 2024-09-30 SC287233 core:Vehicles 2024-09-30 SC287233 2023-09-30 SC287233 core:Goodwill 2023-09-30 SC287233 core:LandBuildings 2023-09-30 SC287233 core:PlantMachinery 2023-09-30 SC287233 core:Vehicles 2023-09-30 iso4217:GBP xbrli:pure