Michael Macgregor Photography Ltd 31/01/2026 iXBRL

Company registration number: SC275864

Michael Macgregor Photography Ltd

Unaudited filleted financial statements

31 January 2026

Michael Macgregor Photography Ltd

Contents

Directors and other information

Accountants report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Michael Macgregor Photography Ltd

Directors and other information


	Directors	Mr Michael Macgregor
		Mrs Karen Macgregor


	Secretary	Mrs K Macgregor


	Company number	SC275864


	Registered office	Port an Aiseig
		Glenborrodale
		Acharacle
		Argyll
		PH36 4JP


	Business address	Port an Aiseig
		Glenborrodale
		Acharacle
		Argyll
		PH36 4JP


	Accountants	Simmers & Co
		Albany Chambers
		Albany Street
		Oban
		Argyll
		PA34 4AL

Michael Macgregor Photography Ltd

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Michael Macgregor Photography Ltd

Year ended 31 January 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Michael Macgregor Photography Ltd for the year ended 31 January 2026 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the board of directors of Michael Macgregor Photography Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Michael Macgregor Photography Ltd and state those matters that we have agreed to state to the board of directors of Michael Macgregor Photography Ltd as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Michael Macgregor Photography Ltd and its board of directors as a body for our work or for this report.

It is your duty to ensure that Michael Macgregor Photography Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Michael Macgregor Photography Ltd. You consider that Michael Macgregor Photography Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Michael Macgregor Photography Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Simmers & Co

Chartered Accountants

Albany Chambers

Albany Street

Oban

Argyll

PA34 4AL

3 September 2026

Michael Macgregor Photography Ltd

Statement of financial position

31 January 2026

		2026		2025
	Note	£	£	£	£

Fixed assets
Intangible assets	5	800		800
Tangible assets	6	103,953		102,277
		_______		_______
			104,753		103,077

Current assets
Stocks		23,116		20,744
Debtors	7	29,053		24,573
Cash at bank and in hand		11,713		56,889
		_______		_______
		63,882		102,206
Creditors: amounts falling due
within one year	8	( 349,717)		( 355,305)
		_______		_______
Net current liabilities			( 285,835)		( 253,099)
			_______		_______
Total assets less current liabilities			( 181,082)		( 150,022)


Provisions for liabilities			( 2,585)		( 2,585)

			_______		_______
Net liabilities			( 183,667)		( 152,607)
			_______		_______

Capital and reserves
Called up share capital			2		2
Profit and loss account			( 183,669)		( 152,609)
			_______		_______
Shareholders deficit			( 183,667)		( 152,607)
			_______		_______

For the year ending 31 January 2026 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 financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 03 September 2026 , and are signed on behalf of the board by:

Mr Michael Macgregor

Director

Company registration number: SC275864

Michael Macgregor Photography Ltd

Statement of changes in equity

Year ended 31 January 2026

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 February 2024	2	( 146,084)	( 146,082)

Loss for the year		( 6,525)	( 6,525)
	_______	_______	_______
Total comprehensive income for the year	-	( 6,525)	( 6,525)

	_______	_______	_______
At 31 January 2025 and 1 February 2025	2	( 152,609)	( 152,607)

Loss for the year		( 31,060)	( 31,060)
	_______	_______	_______
Total comprehensive income for the year	-	( 31,060)	( 31,060)

	_______	_______	_______
At 31 January 2026	2	( 183,669)	( 183,667)
	_______	_______	_______

Michael Macgregor Photography Ltd

Notes to the financial statements

Year ended 31 January 2026

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Michael Macgregor Photography Ltd, Port an Aiseig, Glenborrodale, Acharacle, Argyll, PH36 4JP.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Amortisation

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

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

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

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

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 stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2025: Nil).

5. Intangible assets

	Goodwill	Other intangible assets	Total
	£	£	£
Cost
At 1 February 2025 and 31 January 2026	55,000	800	55,800
	_______	_______	_______
Amortisation
At 1 February 2025 and 31 January 2026	55,000	-	55,000
	_______	_______	_______
Carrying amount
At 31 January 2026	-	800	800
	_______	_______	_______
At 31 January 2025	-	800	800
	_______	_______	_______

6. Tangible assets

	Long leasehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Farm	Total
	£	£	£	£	£	£
Cost
At 1 February 2025	75,226	40,093	21,340	49,495	39,011	225,165
Additions	-	1,729	248	17,995	-	19,972
Disposals	-	-	-	( 15,500)	-	( 15,500)
	_______	_______	_______	_______	_______	_______
At 31 January 2026	75,226	41,822	21,588	51,990	39,011	229,637
	_______	_______	_______	_______	_______	_______
Depreciation
At 1 February 2025	-	38,798	16,545	30,020	37,525	122,888
Charge for the year	-	756	1,261	7,188	372	9,577
Disposals	-	-	-	( 6,781)	-	( 6,781)
	_______	_______	_______	_______	_______	_______
At 31 January 2026	-	39,554	17,806	30,427	37,897	125,684
	_______	_______	_______	_______	_______	_______
Carrying amount
At 31 January 2026	75,226	2,268	3,782	21,563	1,114	103,953
	_______	_______	_______	_______	_______	_______
At 31 January 2025	75,226	1,295	4,795	19,475	1,486	102,277
	_______	_______	_______	_______	_______	_______

7. Debtors

	2026	2025
	£	£
Trade debtors	19,995	16,245
Other debtors	9,058	8,328
	_______	_______
	29,053	24,573
	_______	_______

8. Creditors: amounts falling due within one year

	2026	2025
	£	£
Bank loans and overdrafts	425	585
Trade creditors	2,150	1,810
Social security and other taxes	5,821	11,552
Other creditors	341,321	341,358
	_______	_______
	349,717	355,305
	_______	_______

9. Controlling party

The company is controlled by its directors .