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REGISTERED NUMBER: SC265026 (Scotland)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

JOHN MACIVER AND SONS LIMITED

JOHN MACIVER AND SONS LIMITED (REGISTERED NUMBER: SC265026)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

JOHN MACIVER AND SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: I Maciver



REGISTERED OFFICE: Yard 4
Moorpark
Marybank
Isle of Lewis
HS2 0EL



REGISTERED NUMBER: SC265026 (Scotland)



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



BANKERS: Bank of Scotland
47 Cromwell Street
Stornoway
Isle of Lewis
HS1 2DE

JOHN MACIVER AND SONS LIMITED (REGISTERED NUMBER: SC265026)

BALANCE SHEET
31 MAY 2023

31.5.22 31.5.23
£    £    Notes £    £   
FIXED ASSETS
51,800 Intangible assets 4 44,400
2,254,495 Tangible assets 5 1,489,990
2,306,295 1,534,390

CURRENT ASSETS
1,863 Stocks 1,315
438,066 Debtors 6 530,379
308,254 Cash at bank 491,095
748,183 1,022,789
CREDITORS
530,058 Amounts falling due within one year 7 329,821
218,125 NET CURRENT ASSETS 692,968
2,524,420 TOTAL ASSETS LESS CURRENT
LIABILITIES

2,227,358

CREDITORS
(498,895 ) Amounts falling due after more than one year 8 (385,611 )

(394,871 ) PROVISIONS FOR LIABILITIES (252,998 )
1,630,654 NET ASSETS 1,588,749

CAPITAL AND RESERVES
1 Called up share capital 1
1,630,653 Retained earnings 1,588,748
1,630,654 1,588,749

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

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

JOHN MACIVER AND SONS LIMITED (REGISTERED NUMBER: SC265026)

BALANCE SHEET - continued
31 MAY 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 4 October 2023 and were signed by:





I Maciver - Director


JOHN MACIVER AND SONS LIMITED (REGISTERED NUMBER: SC265026)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

John Maciver and Sons 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents sales of services, administration fees and charges and grants receivable, excluding value added tax. Turnover is recognised when the risks and rewards associated with the transaction have transferred to the purchaser.

Goodwill
Goodwill is based on the business performance prior to incorporation and is being amortised over 25 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.
Plant and machinery etc - 25% on cost and 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.


JOHN MACIVER AND SONS LIMITED (REGISTERED NUMBER: SC265026)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 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.

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 13 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 185,000
AMORTISATION
At 1 June 2022 133,200
Charge for year 7,400
At 31 May 2023 140,600
NET BOOK VALUE
At 31 May 2023 44,400
At 31 May 2022 51,800

JOHN MACIVER AND SONS LIMITED (REGISTERED NUMBER: SC265026)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
Totals buildings etc
£    £    £   
COST
At 1 June 2022 4,082,322 283,731 3,798,591
Additions 217,815 15,786 202,029
Disposals (398,217 ) - (398,217 )
At 31 May 2023 3,901,920 299,517 3,602,403
DEPRECIATION
At 1 June 2022 1,827,827 129,118 1,698,709
Charge for year 726,737 11,981 714,756
Eliminated on disposal (142,634 ) - (142,634 )
At 31 May 2023 2,411,930 141,099 2,270,831
NET BOOK VALUE
At 31 May 2023 1,489,990 158,418 1,331,572
At 31 May 2022 2,254,495 154,613 2,099,882

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

Plant and
machinery
etc
£   
COST
At 1 June 2022 2,339,457
Additions 94,201
Disposals (300,000 )
Transfer to ownership (503,929 )
At 31 May 2023 1,629,729
DEPRECIATION
At 1 June 2022 768,396
Charge for year 407,433
Eliminated on disposal (62,500 )
Transfer to ownership (444,933 )
At 31 May 2023 668,396
NET BOOK VALUE
At 31 May 2023 961,333
At 31 May 2022 1,571,061

JOHN MACIVER AND SONS LIMITED (REGISTERED NUMBER: SC265026)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 456,729 299,326
Other debtors 73,650 138,740
530,379 438,066

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 207,333 475,077
Trade creditors 59,396 31,639
Taxation and social security 40,741 -
Other creditors 12,351 13,342
329,821 530,058

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans 23,333 33,333
Hire purchase contracts 362,278 465,562
385,611 498,895

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank loans 33,333 43,333

All bank borrowing is secured by a floating charge over the company's assets and undertakings, present and future.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31.5.23 31.5.22
£    £   
I Maciver
Balance outstanding at start of year 56,397 59,720
Amounts advanced 472 -
Amounts repaid - (3,323 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 56,869 56,397

JOHN MACIVER AND SONS LIMITED (REGISTERED NUMBER: SC265026)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


11. RELATED PARTY DISCLOSURES

Iain Maciver is a Director and 50% shareholder in Hebridean Plant Limited.

During the year ended 31 May 2023 John Maciver & Sons Limited made sales of £188,246 to Hebridean Plant Limited and purchased services of £39,614 from Hebridean Plant Limited.

In addition, Hebridean Plant Limited has been charged £17,700 for administration services provided by John Maciver & Sons Limited during the year.

At 31 May 2023 the net balance due to John Maciver & Sons Limited from Hebridean Plant Limited was £30,167 (2022 - £21,145).

12. ULTIMATE CONTROLLING PARTY

The controlling party is I Maciver.

The ultimate controlling party is I Maciver.

The company is under the ultimate control of the director, Iain Maciver.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
JOHN MACIVER AND SONS 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 John Maciver and Sons Limited for the year ended 31 May 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 John Maciver and Sons Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of John Maciver and Sons Limited and state those matters that we have agreed to state to the director of John Maciver and Sons 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 John Maciver and Sons 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 John Maciver and Sons Limited. You consider that John Maciver and Sons 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 John Maciver and Sons 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


4 October 2023