REGISTERED NUMBER: SC363108 (Scotland)

Unaudited Financial Statements for the Year Ended 31 August 2017

for

A & S McGregor Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs Alison McGregor

REGISTERED OFFICE:

34 Skelmorlie Castle Road

Skelmorlie

Ayrshire

PA17 5AL

REGISTERED NUMBER:

SC363108 (Scotland)

ACCOUNTANTS:

Stevenson & Kyles

Chartered Accountants

25 Sandyford Place

Glasgow

G3 7NG

FIXED ASSETS

Intangible assets

4

568,567

-

Tangible assets

5

59,215

-

627,782

-

CURRENT ASSETS

Stock

10,000

-

Debtors

6

29,391

9,346

Cash at bank

136,103

749,324

175,494

758,670

CREDITORS

Amounts falling due within one year

7

202,034

138,484

NET CURRENT (LIABILITIES)/ASSETS

(26,540

)

620,186

TOTAL ASSETS LESS CURRENT LIABILITIES

601,242

620,186

CREDITORS

Amounts falling due after more than one year

8

(572,634

)

(620,000

)

PROVISIONS FOR LIABILITIES

9

(11,251

)

-

NET ASSETS

17,357

186

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

17,347

176

SHAREHOLDERS' FUNDS

17,357

186

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 11 May 2018 and were signed by:

Mrs Alison McGregor - Director

1.	STATUTORY INFORMATION

A & S McGregor Ltd. is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fittings and equipment

-

15% on reducing balance

Stocks

Stock are valued at the lower of cost and net realisable value, after making due allowance for obsolete

and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. 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.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2016 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

630,993

At 31 August 2017

630,993

AMORTISATION

Charge for year

62,426

At 31 August 2017

62,426

NET BOOK VALUE

At 31 August 2017

568,567

5.	TANGIBLE FIXED ASSETS

Fittings

and

equipment

£

COST

Additions

69,665

At 31 August 2017

69,665

DEPRECIATION

Charge for year

10,450

At 31 August 2017

10,450

NET BOOK VALUE

At 31 August 2017

59,215

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

29,391

4,431

Other debtors

-

4,915

29,391

9,346

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

24,604

-

Trade creditors

26,115

-

Taxation and social security

18,878

14,359

Other creditors

132,437

124,125

202,034

138,484

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

572,634

620,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

462,779

620,000

9.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

11,251

-

Deferred

tax

£

Charge to Income Statement during year

11,251

Balance at 31 August 2017

11,251

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs Alison McGregor.