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REGISTERED NUMBER: SC361895 (Scotland)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

O'MAC CONSTRUCTION LIMITED

O'MAC CONSTRUCTION LIMITED (REGISTERED NUMBER: SC361895)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

O'MAC CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: M J Macdonald





REGISTERED OFFICE: 26 Bells Road
Stornoway
Isle of Lewis
HS1 2RA





REGISTERED NUMBER: SC361895 (Scotland)





ACCOUNTANTS: CIB Services
Chartered Accountants
63 Kenneth Street
Stornoway
Isle of Lewis
Western Isles
HS1 2DS

O'MAC CONSTRUCTION LIMITED (REGISTERED NUMBER: SC361895)

BALANCE SHEET
30 JUNE 2023

30.6.22 30.6.23
£    £    Notes £    £   
FIXED ASSETS
- Intangible assets 4 -
1,261,015 Tangible assets 5 1,517,005
230,000 Investment property 6 230,000
1,491,015 1,747,005

CURRENT ASSETS
520,000 Stocks 587,000
412,772 Debtors 7 931,632
34,985 Cash at bank 10,000
967,757 1,528,632
CREDITORS
1,322,617 Amounts falling due within one year 8 1,335,054
(354,860 ) NET CURRENT ASSETS/(LIABILITIES) 193,578
1,136,155 TOTAL ASSETS LESS CURRENT
LIABILITIES

1,940,583

CREDITORS
(308,670 ) Amounts falling due after more than one year 9 (795,488 )

(88,013 ) PROVISIONS FOR LIABILITIES (147,343 )
739,472 NET ASSETS 997,752

CAPITAL AND RESERVES
20 Called up share capital 20
19,999 Share premium 19,999
109,031 Revaluation reserve 10 109,031
610,422 Retained earnings 868,702
739,472 SHAREHOLDERS' FUNDS 997,752

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

O'MAC CONSTRUCTION LIMITED (REGISTERED NUMBER: SC361895)

BALANCE SHEET - continued
30 JUNE 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 13 September 2023 and were signed by:





M J Macdonald - Director


O'MAC CONSTRUCTION LIMITED (REGISTERED NUMBER: SC361895)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

O'Mac Construction Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 2010, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 25% on reducing balance, 20% on reducing balance and 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


O'MAC CONSTRUCTION LIMITED (REGISTERED NUMBER: SC361895)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 68 (2022 - 69 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 103,500
AMORTISATION
At 1 July 2022
and 30 June 2023 103,500
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

O'MAC CONSTRUCTION LIMITED (REGISTERED NUMBER: SC361895)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
Totals buildings etc
£    £    £   
COST OR VALUATION
At 1 July 2022 1,957,045 794,923 1,162,122
Additions 581,995 - 581,995
Disposals (169,507 ) - (169,507 )
At 30 June 2023 2,369,533 794,923 1,574,610
DEPRECIATION
At 1 July 2022 696,030 54,923 641,107
Charge for year 232,683 15,898 216,785
Eliminated on disposal (76,185 ) - (76,185 )
At 30 June 2023 852,528 70,821 781,707
NET BOOK VALUE
At 30 June 2023 1,517,005 724,102 792,903
At 30 June 2022 1,261,015 740,000 521,015

Cost or valuation at 30 June 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2013 50,000 - 50,000
Valuation in 2015 29,031 - 29,031
Valuation in 2018 30,000 - 30,000
Valuation in 2022 (36,353 ) - (36,353 )
Cost 722,245 1,574,610 2,296,855
794,923 1,574,610 2,369,533

O'MAC CONSTRUCTION LIMITED (REGISTERED NUMBER: SC361895)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 July 2022 366,699
Additions 524,658
Disposals (137,517 )
At 30 June 2023 753,840
DEPRECIATION
At 1 July 2022 138,997
Charge for year 145,393
Eliminated on disposal (58,286 )
At 30 June 2023 226,104
NET BOOK VALUE
At 30 June 2023 527,736
At 30 June 2022 227,702

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 230,000
NET BOOK VALUE
At 30 June 2023 230,000
At 30 June 2022 230,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 563,824 161,144
Other debtors 367,808 251,628
931,632 412,772

O'MAC CONSTRUCTION LIMITED (REGISTERED NUMBER: SC361895)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 288,009 194,297
Hire purchase contracts 186,952 94,356
Trade creditors 507,268 503,635
Amounts owed to associates - 20,000
Taxation and social security 265,285 488,505
Other creditors 87,540 21,824
1,335,054 1,322,617

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans 395,131 250,363
Hire purchase contracts 266,405 58,307
Taxation and social security 133,952 -
795,488 308,670

10. RESERVES
Revaluation
reserve
£   
At 1 July 2022
and 30 June 2023 109,031

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23 30.6.22
£    £   
M J Macdonald
Balance outstanding at start of year 15,720 15,720
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,720 15,720

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
O'MAC CONSTRUCTION LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of O'Mac Construction Limited for the year ended 30 June 2023 which comprise the Income Statement, Balance Sheet and the 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 director of O'Mac Construction Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of O'Mac Construction Limited and state those matters that we have agreed to state to the director of O'Mac Construction Limited 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 the company and its director for our work or for this report.

It is your duty to ensure that O'Mac Construction Limited 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 profit of O'Mac Construction Limited. You consider that O'Mac Construction Limited 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 O'Mac Construction Limited. 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.






CIB Services
Chartered Accountants
63 Kenneth Street
Stornoway
Isle of Lewis
Western Isles
HS1 2DS


13 September 2023