McGowan Joinery Ltd - Filleted accounts

Registered number

SC849586

McGowan Joinery Ltd

Filleted Accounts

31 May 2026

McGowan Joinery Ltd
Registered number:		SC849586
Balance Sheet
as at 31 May 2026

Notes			2026
£
Fixed assets
Tangible assets	3		16,532

Current assets
Debtors	4	4,191
Cash at bank and in hand		13,559
		17,750

Creditors: amounts falling due within one year	5	(7,495)

Net current assets			10,255

Net assets			26,787

Capital and reserves
Called up share capital			100
Share premium			26,637
Profit and loss account			50

Shareholders' funds			26,787

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




N McGowan
Director
Approved by the board on 1 October 2026

McGowan Joinery Ltd
Notes to the Accounts
for the period from 23 May 2025 to 31 May 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	at 20% by Reducing Balance Method
	Motor Vehicles	at 25% by Reducing Balance Method

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees			2026
Number

	Average number of persons employed by the company			1


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	Additions	1,921		25,737		27,658
	Disposals	-		(9,742)		(9,742)
	At 31 May 2026	1,921		15,995		17,916

	Depreciation
	Charge for the period	384		1,000		1,384
	At 31 May 2026	384		1,000		1,384

	Net book value
	At 31 May 2026	1,537		14,995		16,532


4	Debtors			2026
£

	Trade debtors			(9)
	Other debtors			4,200
				4,191


5	Creditors: amounts falling due within one year			2026
£

	Taxation and social security costs			6,929
	Other creditors			566
				7,495


6	Other information

	McGowan Joinery Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
	1 Victoria Road
	Kirkcaldy
	Fife
	KY1 1DT