REGISTERED NUMBER: SC127975 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

McLachlan (Elgin) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs E B Bowlt

SECRETARY:

Mrs E B Bowlt

REGISTERED OFFICE:

c/o Clements

Chartered Accountants

39 St Vincent Place

Glasgow

United Kingdom

G1 2ER

REGISTERED NUMBER:

SC127975 (Scotland)

ACCOUNTANTS:

Clements

Chartered Accountants

39 St Vincent Place

Glasgow

G1 2ER

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

519,039

499,572

Investments

6

363,565

370,405

882,604

869,977

CURRENT ASSETS

Stocks

163,030

168,206

Debtors

7

329,799

319,657

Investments

8

44,243

51,223

Cash at bank and in hand

117,939

133,923

655,011

673,009

CREDITORS

Amounts falling due within one year

9

196,380

221,647

NET CURRENT ASSETS

458,631

451,362

TOTAL ASSETS LESS CURRENT LIABILITIES

1,341,235

1,321,339

PROVISIONS FOR LIABILITIES

48,373

55,085

NET ASSETS

1,292,862

1,266,254

CAPITAL AND RESERVES

Called up share capital

101

101

Share premium

10

298

298

Capital redemption reserve

10

101

101

Retained earnings

10

1,292,362

1,265,754

SHAREHOLDERS' FUNDS

1,292,862

1,266,254

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 director acknowledges her 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 23 September 2025 and were signed by:

Mrs E B Bowlt - Director

1.	STATUTORY INFORMATION

McLachlan (Elgin) 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.

Turnover

The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts. Revenue is recognised when the company has the right to receive it.

Goodwill

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill

- 100% on cost

Tangible fixed assets

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

Freehold land and buildings

-

4% on cost

Improvements to property

-

15% on reducing balance

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and selling price less costs to complete and sell.

Financial instruments

The company only has basic financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation

Taxation for the year comprises current and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

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.

Investments

Listed investments held as both fixed and current assets, are recognised at fair value which is the equivalent to market value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 34 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

10,500

AMORTISATION

At 1 January 2024

and 31 December 2024

10,500

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

237,427

1,781,858

2,019,285

Additions

-

140,778

140,778

Disposals

-

(26,734

)

(26,734

)

At 31 December 2024

237,427

1,895,902

2,133,329

DEPRECIATION

At 1 January 2024

113,952

1,405,761

1,519,713

Charge for year

9,496

111,180

120,676

Eliminated on disposal

-

(26,099

)

(26,099

)

At 31 December 2024

123,448

1,490,842

1,614,290

NET BOOK VALUE

At 31 December 2024

113,979

405,060

519,039

At 31 December 2023

123,475

376,097

499,572

6.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

302

370,103

370,405

Additions

-

7,569

7,569

Revaluations

-

(14,409

)

(14,409

)

At 31 December 2024

302

363,263

363,565

NET BOOK VALUE

At 31 December 2024

302

363,263

363,565

At 31 December 2023

302

370,103

370,405

Cost or valuation at 31 December 2024 is represented by:

Shares in

group

Other

undertakings

investments

Totals

£

£

£

Valuation in 2016

-

11,512

11,512

Valuation in 2017

-

(1,539

)

(1,539

)

Valuation in 2018

-

(20,261

)

(20,261

)

Valuation in 2019

-

19,961

19,961

Valuation in 2020

-

17,417

17,417

Valuation in 2021

-

16,387

16,387

Valuation in 2022

-

(3,244

)

(3,244

)

Valuation in 2023

-

(40,835

)

(40,835

)

Valuation in 2024

-

(14,409

)

(14,409

)

Cost

302

378,274

378,576

302

363,263

363,565

7.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Trade debtors

105,319

96,970

Other debtors

27,153

19,786

132,472

116,756

Amounts falling due after more than one year:

Other debtors

197,327

202,901

Aggregate amounts

329,799

319,657

8.	CURRENT ASSET INVESTMENTS

31.12.24

31.12.23

£

£

Listed investments

44,243

51,223

Current asset investments are stated at fair value at 31st December 2024.

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

142,347

119,773

Taxation and social security

26,394

81,441

Other creditors

27,639

20,433

196,380

221,647

Included in other creditors is the director's loan account which is unsecured, interest free and repayable on demand.

10.

RESERVES

Retained earnings include undistributable reserves at 31st December 2024 of (£39,750) (2023 - £23,402).