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REGISTERED NUMBER: SC395891 (Scotland)















Abridged Unaudited Financial Statements for the Year Ended 31 March 2023

for

MacLean Projects Ltd

MacLean Projects Ltd (Registered number: SC395891)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MacLean Projects Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: M D MacLean





REGISTERED OFFICE: 32 Drumdyre Road
DINGWALL
Ross-Shire
IV15 9RW





REGISTERED NUMBER: SC395891 (Scotland)





ACCOUNTANTS: Stewart & Stewart Ltd
Chartered Accountants
Achorn House
34 Millbank Road
Munlochy
Ross-Shire
IV8 8ND

MacLean Projects Ltd (Registered number: SC395891)

Abridged Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 21,656 27,162
21,656 27,162

CURRENT ASSETS
Debtors 73,714 59,323
Cash at bank 6,278 20,257
79,992 79,580
CREDITORS
Amounts falling due within one year 41,797 40,036
NET CURRENT ASSETS 38,195 39,544
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,851

66,706

CREDITORS
Amounts falling due after more than one year (31,065 ) (42,168 )

PROVISIONS FOR LIABILITIES (800 ) (741 )
NET ASSETS 27,986 23,797

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 27,985 23,796
SHAREHOLDERS' FUNDS 27,986 23,797

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

MacLean Projects Ltd (Registered number: SC395891)

Abridged Balance Sheet - continued
31 March 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 25 September 2023 and were signed by:





M D MacLean - Director


MacLean Projects Ltd (Registered number: SC395891)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

MacLean Projects 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 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.

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.

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract. Turnover is recognised when the amount of turnover can be measured reliably, it is probable that the Company will receive the consideration due under the contract, the stage of completion of the contract at the end of the reporting period can be measured reliably and when the costs incurred and the costs to complete the contract can be measured reliably

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, 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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

MacLean Projects Ltd (Registered number: SC395891)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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 and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non convertible preference shares and non puttable ordinary or preference shares are publicly traded or their fair value can otherwise be measured reliably , the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss immediately.

All equity investments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit and loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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.

MacLean Projects Ltd (Registered number: SC395891)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 25,000
AMORTISATION
At 1 April 2022
and 31 March 2023 25,000
NET BOOK VALUE

At 31 March 2023 -
At 31 March 2022 -

MacLean Projects Ltd (Registered number: SC395891)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 42,674
Additions 1,055
At 31 March 2023 43,729
DEPRECIATION
At 1 April 2022 15,512
Charge for year 6,561
At 31 March 2023 22,073
NET BOOK VALUE
At 31 March 2023 21,656
At 31 March 2022 27,162

6. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 17,854 24,372
Finance leases 24,004 28,201
41,858 52,573

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
M D MacLean
Balance outstanding at start of year 40,924 31,196
Amounts advanced 62,980 61,511
Amounts repaid (57,019 ) (51,783 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 46,885 40,924

This loan is unsecured, interest free and has no fixed terms for repayment.