REGISTERED NUMBER: SC043738 (Scotland)

MCCRINDLE GROUP LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

W R McCrindle MBE

SECRETARY:

B D Kerr

REGISTERED OFFICE:

126 Meadowfoot Road

West Kilbride

Ayrshire

KA23 9BZ

REGISTERED NUMBER:

SC043738 (Scotland)

ACCOUNTANTS:

JRD Partnership Ltd

Chartered Accountants

11 Portland Road

Kilmarnock

Ayrshire

KA1 2BT

BANKERS:

Royal Bank of Scotland

69 High Street

Irvine

KA12 0AL

FIXED ASSETS

Tangible assets

4

1,561

1,509

Investments

5

90,000

90,000

Investment property

6

2,680,000

2,080,000

2,771,561

2,171,509

CURRENT ASSETS

Debtors

7

50,062

47,640

Cash at bank and in hand

377,648

32,428

427,710

80,068

CREDITORS

Amounts falling due within one year

8

26,502

36,658

NET CURRENT ASSETS

401,208

43,410

TOTAL ASSETS LESS CURRENT LIABILITIES

3,172,769

2,214,919

CREDITORS

Amounts falling due after more than one year

9

(90,000

)

(90,000

)

PROVISIONS FOR LIABILITIES

(640,322

)

(454,793

)

NET ASSETS

2,442,447

1,670,126

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Revaluation reserve

11

2,559,725

1,817,882

Capital redemption reserve

35,000

35,000

Retained earnings

(252,278

)

(282,756

)

SHAREHOLDERS' FUNDS

2,442,447

1,670,126

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18th September 2025 and were signed by:

W R McCrindle MBE - Director

1.	STATUTORY INFORMATION

McCrindle Group 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost and 10% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2024

320,794

Additions

400

At 31st December 2024

321,194

DEPRECIATION

At 1st January 2024

319,285

Charge for year

348

At 31st December 2024

319,633

NET BOOK VALUE

At 31st December 2024

1,561

At 31st December 2023

1,509

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st January 2024

and 31st December 2024

90,000

NET BOOK VALUE

At 31st December 2024

90,000

At 31st December 2023

90,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2024

2,080,000

Disposals

(248,246

)

Revaluations

848,246

At 31st December 2024

2,680,000

DEPRECIATION

Eliminated on disposal

(106,403

)

Revaluation adjustments

106,403

At 31st December 2024

-

NET BOOK VALUE

At 31st December 2024

2,680,000

At 31st December 2023

2,080,000

Fair value at 31st December 2024 is represented by:

£

Valuation in 2006

609,487

Valuation in 2012

580,000

Valuation in 2016

215,000

Valuation in 2020

(50,000

)

Valuation in 2021

250,000

Valuation in 2024

848,246

Cost

227,267

2,680,000

The director has considered the fair value of the company's investment property as follows:

Property at Ardrossan - £2,680,000

This assessment takes into consideration an external valuation of part of the Ardrossan property which was carried out by Alistair G. Paterson, FRICS, on 14 September 2021.

This was in respect of the fair value of the existing property lease with a third party which was reported at £680,000 as at 31 December 2020. The valuation of the Ardrossan property also takes into consideration an adjacent residential development site which was valued by the director at £1,000,000 as at 31st December 2021.

The director's valuation has been increased to £2,000,000 as at 31st December 2024, taking into consideration current market conditions and increased sales potential. Although a formal valuation has not been carried out, the Director's valuation takes into consideration third party evidence of similar land values.

The formal title to the land in respect of the above property is held by the wholly owned subsidiary company, McCrindle Tooling Limited (SC058557). The Kilmarnock property was sold during August 2024 and, although the title was formerly held by the subsidiary company, the sales and the related tax liability is incorporated within these financial statements.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Other debtors

50,062

47,640

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Bank loans and overdrafts

-

18,637

Trade creditors

372

-

Taxation and social security

24,376

15,772

Other creditors

1,754

2,249

26,502

36,658

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

as restated

£

£

Amounts owed to group undertakings

90,000

90,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

as restated

£

£

Bank loans

-

18,637

11.

RESERVES

Revaluation

reserve

£

At 1st January 2024

1,817,882

Revaluation in year

741,843

At 31st December 2024

2,559,725

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2024 and 31st December 2023:

2024

2023

as restated

£

£

W R McCrindle MBE

Balance outstanding at start of year

42,000

-

Amounts advanced

50,000

42,000

Amounts repaid

(42,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

50,000

42,000

The opening loan balance was fully repaid on 6th April 2024.

The closing loan was fully repaid on 30th September 2025.

The loan balance includes interest charged by the company of £783.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr W R McCrindle MBE who owns 60% of the share capital.