REGISTERED NUMBER: SC583996 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MCALLAN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L D McPherson

REGISTERED OFFICE:

9 Glasgow Road

Paisley

Renfrewshire

PA1 3QS

REGISTERED NUMBER:

SC583996 (Scotland)

ACCOUNTANTS:

John M Taylor & Co

Chartered Accountants

9 Glasgow Road

PAISLEY

Renfrewshire

PA1 3QS

FIXED ASSETS

6,746

Tangible assets

4

15,606

280,597

Investment property

5

440,624

287,343

456,230

CURRENT ASSETS

113,984

Stocks

6

-

1,780

Debtors

7

1,374

10,985

Cash at bank

43,045

126,749

44,419

CREDITORS

390,276

Amounts falling due within one year

8

286,479

(263,527

)

NET CURRENT LIABILITIES

(242,060

)

23,816

TOTAL ASSETS LESS CURRENT LIABILITIES

214,170

CREDITORS

-

Amounts falling due after more than one year

9

(206,250

)

(5,798

)

PROVISIONS FOR LIABILITIES

11

(5,478

)

18,018

NET ASSETS

2,442

CAPITAL AND RESERVES

1,000

Called up share capital

1,000

19,254

Fair value reserve

12

19,254

(2,236

)

Retained earnings

12

(17,812

)

18,018

2,442

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 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 25 September 2025 and were signed by:

L D McPherson - Director

1.	STATUTORY INFORMATION

McAllan 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 as modified by the revaluation of certain assets.

The significant policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the total amount of rent due for the period.

Tangible fixed assets

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

Motor vehicles

-

25% on reducing balance

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit and loss.

Revaluations are conducted annually by the director.

Taxation

Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Motor

Totals

property

vehicles

£

£

£

COST

At 1 January 2024

8,995

-

8,995

Additions

10,761

10,761

-

At 31 December 2024

19,756

10,761

8,995

DEPRECIATION

At 1 January 2024

2,249

-

2,249

Charge for year

1,901

215

1,686

At 31 December 2024

4,150

215

3,935

NET BOOK VALUE

At 31 December 2024

15,606

10,546

5,060

At 31 December 2023

6,746

-

6,746

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

280,597

Additions

160,027

At 31 December 2024

440,624

NET BOOK VALUE

At 31 December 2024

440,624

At 31 December 2023

280,597

Investment property was valued on a fair value basis by the directors on 31 December 2024

Fair value at 31 December 2024 is represented by:

£

Valuation in 2023

23,770

Valuation in 2024

416,854

440,624

6.

STOCKS

31.12.24

31.12.23

£

£

Work-in-progress

-

113,984

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

1,374

1,780

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

-

1,980

Other creditors

286,479

388,296

286,479

390,276

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

206,250

-

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

206,250

-

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

206,250

1,980

Aldermore Bank Plc holds charges over the investment properties at Burnfoot Crescent, Scott Avenue and Wardhouse Road.

11.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

5,478

5,798

Deferred

tax

£

Balance at 1 January 2024

5,798

Credit to Income Statement during year

(320

)

Balance at 31 December 2024

5,478

12.

RESERVES

Fair

Retained

value

Totals

earnings

reserve

£

£

£

At 1 January 2024

17,018

(2,236

)

19,254

Deficit for the year

(15,576

)

(15,576

)

At 31 December 2024

1,442

(17,812

)

19,254

13.	RELATED PARTY DISCLOSURES

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is L D McPherson.