Registration number: SC354639

Murray McGregor Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

Murray McGregor Limited

(Registration number: SC354639)
Statement of Financial Position as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	1,125,096	1,135,290
Current assets
Stocks	5	930,282	766,935
Debtors	6	25,476	18,252
Cash at bank and in hand		7,598	1,557
		963,356	786,744
Creditors: Amounts falling due within one year	7	(1,788,923)	(1,198,882)
Net current liabilities		(825,567)	(412,138)
Total assets less current liabilities		299,529	723,152
Provisions for liabilities		(166,488)	(166,488)
Net assets		133,041	556,664
Capital and reserves
Called up share capital	8	100	100
Revaluation reserve		509,651	509,651
Retained earnings		(376,710)	46,913
Shareholders' funds		133,041	556,664

For the financial 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.

Director's responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 8 December 2025
 

Murray McGregor Limited

(Registration number: SC354639)
Statement of Financial Position as at 31 December 2024

......................................... Mr Murray McGregor Director

Murray McGregor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
29 Commercial Street
Dundee
DD1 3DG
Scotland

The principal place of business is:
Denrosa
Victoria Street
Coupar Angus
Perthshire
PH13 9AE
Scotland

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Murray McGregor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land & Buildings	10% reducing balance
Plant & Machinery	10% reducing balance
Office Equipment	15% reducing balance
Motor Vehicles	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Murray McGregor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3	Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 0 (2023 - 24).

Murray McGregor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Land and buildings £	Plant and machinery £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	145,800	1,561,371	20,436	188,378	1,915,985
Additions	-	62,310	-	-	62,310
At 31 December 2024	145,800	1,623,681	20,436	188,378	1,978,295
Depreciation
At 1 January 2024	11,264	598,983	11,701	158,747	780,695
Charge for the year	1,345	62,445	1,310	7,404	72,504
At 31 December 2024	12,609	661,428	13,011	166,151	853,199
Carrying amount
At 31 December 2024	133,191	962,253	7,425	22,227	1,125,096
At 31 December 2023	134,536	962,388	8,735	29,631	1,135,290

5

Stocks

	2024 £	2023 £
Other inventories	930,282	766,935

6

Debtors

Current	2024 £	2023 £
Trade debtors	16,898	-
Other debtors	8,578	18,252
	25,476	18,252

Murray McGregor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	9	48,432	134,553
Trade creditors		1,381,499	842,633
Taxation and social security		204,375	76,625
Accruals and deferred income		4,673	6,962
Other creditors		149,944	138,109
		1,788,923	1,198,882

Creditors: amounts falling due after more than one year

2024 £

2023 £

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary Shares of £1 each	100	100	100	100

Murray McGregor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9	Loans and borrowings

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	23,432	43,804
Bank overdrafts	25,000	90,000
Other borrowings	-	749
	48,432	134,553