REGISTERED NUMBER: SC387053 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

MC Stores Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I Mitchell

G R Colvan FCCA

Mrs A Mitchell

Mrs L M Colvan

SECRETARY:

G R Colvan FCCA

REGISTERED OFFICE:

9 Glencraig Street

Drongan

Ayr

Ayrshire

KA6 7AS

REGISTERED NUMBER:

SC387053 (Scotland)

FIXED ASSETS

Tangible assets

4

177,563

214,755

CURRENT ASSETS

Inventories

123,180

94,428

Debtors

5

34,107

48,093

Cash at bank and in hand

742,990

591,666

900,277

734,187

CREDITORS

Amounts falling due within one year

6

347,809

354,215

NET CURRENT ASSETS

552,468

379,972

TOTAL ASSETS LESS CURRENT LIABILITIES

730,031

594,727

CREDITORS

Amounts falling due after more than one year

7

(8,830

)

(15,895

)

PROVISIONS FOR LIABILITIES

(42,984

)

(49,079

)

NET ASSETS

678,217

529,753

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

678,215

529,751

SHAREHOLDERS' FUNDS

678,217

529,753

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Board of Directors and authorised for issue on 19 September 2025 and were signed on its behalf by:

G R Colvan FCCA - Director

1.	STATUTORY INFORMATION

MC Stores 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

Land and buildings

-

20% on cost

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

Inventories

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 33 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

14,646

393,383

408,029

DEPRECIATION

At 1 January 2024

12,773

180,501

193,274

Charge for year

375

36,817

37,192

At 31 December 2024

13,148

217,318

230,466

NET BOOK VALUE

At 31 December 2024

1,498

176,065

177,563

At 31 December 2023

1,873

212,882

214,755

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

208

1

Other debtors

33,899

48,092

34,107

48,093

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

209,491

192,391

Taxation and social security

108,565

99,476

Other creditors

29,753

62,348

347,809

354,215

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

8,830

15,895

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

67,580

67,581

Between one and five years

180,215

247,795

247,795

315,376

9.	SECURED DEBTS

The company has provided a bond & floating charge over its assets in respect of any borrowings it may have with The Royal Bank of Scotland. At the date of these accounts there were no such borrowings.

10.	FINANCIAL INSTRUMENTS

During the year ended 31 December 2019 the company received an interest free loan of £55,769 from Energy Savings Ltd. The loan is repayable in equal instalments by 15 March 2027. At the balance sheet date the loan amount outstanding of £15,895 (2023 £22,959) is presented within creditors falling due within one year and amounts falling due after more than one year.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.12.24

31.12.23

£

£

I Mitchell

Balance outstanding at start of year

(1,488

)

(1,488

)

Amounts advanced

2,484

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

996

(1,488

)

This balance was fully repaid on 14 September 2025.