McLean Financial Services Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: SC465351

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		8,800		8,800
Tangible Assets	5		18,610		16,622

			27,410		25,422
CURRENT ASSETS
Debtors	6	29,136		22,439
Cash at bank and in hand		22,691		24,466

		51,827		46,905
Creditors: Amounts Falling Due Within One Year	7	(47,018 )		(30,463 )

NET CURRENT ASSETS (LIABILITIES)			4,809		16,442

TOTAL ASSETS LESS CURRENT LIABILITIES			32,219		41,864

Creditors: Amounts Falling Due After More Than One Year	8		(3,500 )		(25,094 )

PROVISIONS FOR LIABILITIES
Provisions For Charges	10		(17,452 )		(14,210 )
Deferred Taxation	9		(4,653 )		(3,158 )

NET ASSETS/(LIABILITIES)			6,614		(598 )

CAPITAL AND RESERVES
Called up share capital	11		100		100
Profit and Loss Account			6,514		(698 )

SHAREHOLDERS' FUNDS			6,614		(598)

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McLean Financial Services Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Cameron McLean

Director

29/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

McLean Financial Services Limited Registered number SC465351 is a limited by shares company incorporated in Scotland. The Registered Office is 10 Avonhead Road, Condorrat, Glasgow, G67 4RA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

2.2. Turnover

Turnover comprises the invoiced value of services supplied by the company and mortgage products commissions, with no Value Added Tax being applicable as such services are exempt.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is not amortised to the profit and loss account as the director considers there to have been no reduction in the cost value.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% - reducing balance basis
Computer Equipment	20% - reducing balance basis

2.5. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2.6. Taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

2.7. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was:

	2024	2023
Office and administration	8	7

	8	7

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McLean Financial Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	8,800

As at 31 December 2024	8,800

Net Book Value
As at 31 December 2024	8,800

As at 1 January 2024	8,800

No goodwill amortisation is considered necessary by the director.

5. Tangible Assets

	Motor Vehicles	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	3,825	30,243	34,068
Additions	-	6,259	6,259

As at 31 December 2024	3,825	36,502	40,327

Depreciation
As at 1 January 2024	2,211	15,235	17,446
Provided during the period	404	3,867	4,271

As at 31 December 2024	2,615	19,102	21,717

Net Book Value
As at 31 December 2024	1,210	17,400	18,610

As at 1 January 2024	1,614	15,008	16,622

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	20,851	14,389
Sundry debtor - office rent deposit	472	472
Other debtors - sundry loan	1,900	-
Director's loan account	5,913	7,578

	29,136	22,439

The directors loan was unsecured, interest free and had no fixed terms of repayment.The overdrawn loan account balance was repaid in full post year end.

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McLean Financial Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	1,856	236
Bank loans and overdrafts	8,400	8,400
Corporation tax	20,122	1,688
PAYE and NI	1,760	8,290
Provision for commission clawbacks	7,160	4,830
Accrued charges	7,720	7,019

	47,018	30,463

The bank loan was obtained in May 2020 in terms of the Bounce Back Loan Scheme following the Covid19 pandemic and is accordance with the terms thereof.

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	3,500	11,900
Sundry loan	-	13,194

	3,500	25,094

The sundry loan relates to advances from First Complete on future commissions to be earned by the company and has no fixed terms of payment, is interest free, and is being written-off annually at a pre-set rate based on business generated. The full loan advance was cleared during the year.

The bank loan was obtained in May 2020 in terms of the Bounce Back Loan Scheme following the Covid19 pandemic and is accordance with the terms thereof.

9. Deferred Taxation

The provision for deferred taxation is made up of accelerated capital allowances.

	2024	2023
	£	£
Other timing differences	4,653	3,158

10. Provisions for Liabilities


	Deferred Tax	Other Provisions	Total
	£	£	£
As at 1 January 2024	3,158	14,210	17,368
Additions	1,495	3,242	4,737

Balance at 31 December 2024	4,653	17,452	22,105

The provision for liabilities relates to potential employee termination costs and charges.

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

12. Controlling Party

The company's controlling party is the director Cameron McLean by virtue of his ownership of 90% of the issued share capital in the company.

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