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Unaudited Financial Statements for the Year Ended 31 May 2021 |
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McLay McAlister & McGibbon (Ayr) Ltd |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 May 2021 |
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for |
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McLay McAlister & McGibbon (Ayr) Ltd |
McLay McAlister & McGibbon (Ayr) Ltd (Registered number: SC158183) |
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Contents of the Financial Statements |
for the Year Ended 31 May 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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McLay McAlister & McGibbon (Ayr) Ltd |
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Company Information |
for the Year Ended 31 May 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
145 St Vincent Street |
Glasgow |
G2 5JF |
McLay McAlister & McGibbon (Ayr) Ltd (Registered number: SC158183) |
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Balance Sheet |
31 May 2021 |
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31.5.21 | 31.5.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
McLay McAlister & McGibbon (Ayr) Ltd (Registered number: SC158183) |
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Balance Sheet - continued |
31 May 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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McLay McAlister & McGibbon (Ayr) Ltd (Registered number: SC158183) |
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Notes to the Financial Statements |
for the Year Ended 31 May 2021 |
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1. | STATUTORY INFORMATION |
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McLay McAlister & McGibbon (Ayr) Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of businesses in 2005 and 2014, is being amortised evenly over their estimated useful lives of ten and five years respectively. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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The company's policy is to review the remaining useful lives and residual value of all tangible assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value. |
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Stocks |
Work in progress is valued at selling price less provisions for non recoverable time. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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McLay McAlister & McGibbon (Ayr) Ltd (Registered number: SC158183) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2021 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 June 2020 |
and 31 May 2021 |
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AMORTISATION |
At 1 June 2020 |
and 31 May 2021 |
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NET BOOK VALUE |
At 31 May 2021 |
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At 31 May 2020 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 June 2020 |
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Additions |
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At 31 May 2021 |
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DEPRECIATION |
At 1 June 2020 |
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Charge for year |
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At 31 May 2021 |
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NET BOOK VALUE |
At 31 May 2021 |
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At 31 May 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.21 | 31.5.20 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.21 | 31.5.20 |
£ | £ |
Bank loans and overdrafts |
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Taxation and social security |
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Other creditors |
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McLay McAlister & McGibbon (Ayr) Ltd (Registered number: SC158183) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2021 |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.5.21 | 31.5.20 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 113,366 | 144,567 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.5.21 | 31.5.20 |
£ | £ |
Bank loans |
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The bank borrowings are secured by a standard security over the company's property and personal guarantees from some of the directors. |