J A Mackay Services Ltd SC417518 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is that of the provision of support activities for petroleum and natural gas extraction. Digita Accounts Production Advanced 6.30.9574.0 true true SC417518 2022-02-01 2023-01-31 SC417518 2023-01-31 SC417518 bus:OrdinaryShareClass1 2023-01-31 SC417518 core:RetainedEarningsAccumulatedLosses 2023-01-31 SC417518 core:ShareCapital 2023-01-31 SC417518 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 SC417518 core:MotorVehicles 2023-01-31 SC417518 core:OtherPropertyPlantEquipment 2023-01-31 SC417518 bus:SmallEntities 2022-02-01 2023-01-31 SC417518 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 SC417518 bus:FullAccounts 2022-02-01 2023-01-31 SC417518 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 SC417518 bus:RegisteredOffice 2022-02-01 2023-01-31 SC417518 bus:Director1 2022-02-01 2023-01-31 SC417518 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 SC417518 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 SC417518 core:MotorVehicles 2022-02-01 2023-01-31 SC417518 core:OtherPropertyPlantEquipment 2022-02-01 2023-01-31 SC417518 core:PlantMachinery 2022-02-01 2023-01-31 SC417518 1 2022-02-01 2023-01-31 SC417518 countries:Scotland 2022-02-01 2023-01-31 SC417518 2022-01-31 SC417518 core:MotorVehicles 2022-01-31 SC417518 core:OtherPropertyPlantEquipment 2022-01-31 SC417518 2021-02-01 2022-01-31 SC417518 2022-01-31 SC417518 bus:OrdinaryShareClass1 2022-01-31 SC417518 core:RetainedEarningsAccumulatedLosses 2022-01-31 SC417518 core:ShareCapital 2022-01-31 SC417518 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 SC417518 core:MotorVehicles 2022-01-31 SC417518 core:OtherPropertyPlantEquipment 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC417518

J A Mackay Services Ltd

Unaudited Financial Statements

for the Year Ended 31 January 2023

 

J A Mackay Services Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

J A Mackay Services Ltd

(Registration number: SC417518)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

-

3,875

Current assets

 

Cash at bank and in hand

 

100

348

Creditors: Amounts falling due within one year

6

(2,480)

(2,171)

Net current liabilities

 

(2,380)

(1,823)

Total assets less current liabilities

 

(2,380)

2,052

Provisions for liabilities

-

(736)

Net (liabilities)/assets

 

(2,380)

1,316

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(2,480)

1,216

Shareholders' (deficit)/funds

 

(2,380)

1,316

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 October 2023
 


Mr J A Mackay
Director

 

J A Mackay Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Long Cairn
Weydale
Thurso
KW14 8YN

These financial statements were authorised for issue by the director on 31 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

J A Mackay Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Government grants

Grants relating to revenue are recognised in income on a systematic basis over the periods in which the business recognises related costs which the grant is intended to compensate.

A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% Reducing Balance

Motor Vehicles

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

 

J A Mackay Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade debtors are reviewed annually for any bad debts and any adjustment is made accordingly through the profit and loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 2).

 

J A Mackay Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

-

1,292

 

J A Mackay Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

5

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2022

5,000

24,393

29,393

Disposals

(5,000)

(24,393)

(29,393)

At 31 January 2023

-

-

-

Depreciation

At 1 February 2022

4,543

20,975

25,518

Eliminated on disposal

(4,543)

(20,975)

(25,518)

At 31 January 2023

-

-

-

Carrying amount

At 31 January 2023

-

-

-

At 31 January 2022

457

3,418

3,875

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

-

968

Accruals and deferred income

-

1,200

Other creditors

2,480

3

2,480

2,171

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         
 

J A Mackay Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

8

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £Nil (2022 - £20,600.00) per ordinary share

 

-

 

20,600

         

9

Related party transactions

At the balance sheet date, the company owed the director £2,480 (2022: £2). This loan has no terms of repayment and interest is not being charged on the balance.

10

Ultimate controlling party

The ultimate controlling party is Mr JA Mackay, sole director and majority shareholder.