MGR McLean Ltd. SC475912 false 2024-05-01 2025-04-30 2025-04-30 The principal activity of the company is electrical contractors Digita Accounts Production Advanced 6.30.9574.0 true true SC475912 2024-05-01 2025-04-30 SC475912 2025-04-30 SC475912 bus:OrdinaryShareClass1 bus:CumulativeShares 2025-04-30 SC475912 core:CurrentFinancialInstruments 2025-04-30 SC475912 core:CurrentFinancialInstruments core:WithinOneYear 2025-04-30 SC475912 core:Non-currentFinancialInstruments 2025-04-30 SC475912 core:Non-currentFinancialInstruments core:AfterOneYear 2025-04-30 SC475912 core:FurnitureFittingsToolsEquipment 2025-04-30 SC475912 core:MotorVehicles 2025-04-30 SC475912 core:OtherPropertyPlantEquipment 2025-04-30 SC475912 bus:SmallEntities 2024-05-01 2025-04-30 SC475912 bus:AuditExemptWithAccountantsReport 2024-05-01 2025-04-30 SC475912 bus:FilletedAccounts 2024-05-01 2025-04-30 SC475912 bus:SmallCompaniesRegimeForAccounts 2024-05-01 2025-04-30 SC475912 bus:RegisteredOffice 2024-05-01 2025-04-30 SC475912 bus:Director1 2024-05-01 2025-04-30 SC475912 bus:Director2 2024-05-01 2025-04-30 SC475912 bus:Director3 2024-05-01 2025-04-30 SC475912 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-05-01 2025-04-30 SC475912 bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 SC475912 core:CommercialMotorVehicles 2024-05-01 2025-04-30 SC475912 core:FurnitureFittingsToolsEquipment 2024-05-01 2025-04-30 SC475912 core:MotorVehicles 2024-05-01 2025-04-30 SC475912 core:OtherPropertyPlantEquipment 2024-05-01 2025-04-30 SC475912 core:PlantMachinery 2024-05-01 2025-04-30 SC475912 countries:Scotland 2024-05-01 2025-04-30 SC475912 2024-04-30 SC475912 core:FurnitureFittingsToolsEquipment 2024-04-30 SC475912 core:MotorVehicles 2024-04-30 SC475912 core:OtherPropertyPlantEquipment 2024-04-30 SC475912 2023-05-01 2024-04-30 SC475912 2024-04-30 SC475912 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-04-30 SC475912 core:CurrentFinancialInstruments 2024-04-30 SC475912 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 SC475912 core:Non-currentFinancialInstruments 2024-04-30 SC475912 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 SC475912 core:FurnitureFittingsToolsEquipment 2024-04-30 SC475912 core:MotorVehicles 2024-04-30 SC475912 core:OtherPropertyPlantEquipment 2024-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC475912

MGR McLean Ltd.
Unaudited Filleted Financial Statements
for the Year Ended 30 April 2025

MGR McLean Ltd.

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 8

MGR McLean Ltd.

Company Information

Directors | Miss Danielle Rice Mr Michael Rice Mrs Evelyn Rice

Registered office | 30 Tannoch Drive Cumbernauld G67 2XX

Accountants | Clyde Business Services 159 King Street Glasgow Lanarkshire G73 1BZ

MGR McLean Ltd.

(Registration number: SC475912)
Balance Sheet as at 30 April 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 121,421 | 279,093
Current assets |  |  |
Stocks | 5 | 32,500 | 35,000
Debtors | 6 | 203,590 | 283,569
Cash at bank and in hand |  | 123,834 | 138,301
|  | 359,924 | 456,870
Creditors: Amounts falling due within one year | 7 | (50,250) | (77,659)
Net current assets |  | 309,674 | 379,211
Total assets less current liabilities |  | 431,095 | 658,304
Creditors: Amounts falling due after more than one year | 7 | (36,208) | (57,661)
Net assets |  | 394,887 | 600,643
Capital and reserves |  |  |
Called up share capital | 8 | 100 | 100
Retained earnings |  | 394,787 | 600,543
Shareholders' funds |  | 394,887 | 600,643

For the financial year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 December 2025 and signed on its behalf by:

......................................... Mr Michael Rice Director

MGR McLean Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1 | General information

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

The address of its registered office is:
30 Tannoch Drive
Cumbernauld
G67 2XX

These financial statements were authorised for issue by the Board on 28 December 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

MGR McLean Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Tangible assets

Tangible assets are stated in the balance sheet 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
motor vehicles | 20% reducing balance
plant & machinery | 20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

MGR McLean Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 5).

MGR McLean Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

4 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Other tangible assets £ | Total £
Cost or valuation
At 1 May 2024 | 5,647 | 167,832 | 506,926 | 680,405
Additions | 2,684 | - | - | 2,684
Disposals | - | - | (130,000) | (130,000)
At 30 April 2025 | 8,331 | 167,832 | 376,926 | 553,089
Depreciation
At 1 May 2024 | 3,917 | 97,764 | 299,631 | 401,312
Charge for the year | 883 | 14,014 | 15,459 | 30,356
At 30 April 2025 | 4,800 | 111,778 | 315,090 | 431,668
Carrying amount
At 30 April 2025 | 3,531 | 56,054 | 61,836 | 121,421
At 30 April 2024 | 1,730 | 70,068 | 207,295 | 279,093

5 | Stocks

| 2025 £ | 2024 £
Finished goods and goods for resale | 32,500 | 35,000

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 139,090 | 219,069
Other debtors | 64,500 | 64,500
| 203,590 | 283,569

7 | Creditors

Creditors: amounts falling due within one year

MGR McLean Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 19,210 | 34,488
Taxation and social security | 30,553 | 42,784
Other creditors | 487 | 387
| 50,250 | 77,659

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 36,208 | 57,661

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary of £1 each | 100 | 100 | 100 | 100

9 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 10,430 | 20,837
Out of balance to non-current Loans and borrowings category | (25,778) | (36,824)

10 | Dividends

|  | 2025 |  | 2024
|  | £ |  | £
Interim dividend of £748.00 (2024 - £1,000.00) per ordinary share |  | 100,000 |  | 100,000

11 | Related party transactions

MGR McLean Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Directors' remuneration

The directors' remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 38,087 | 39,896