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REGISTERED NUMBER: SC377015 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Mackinnon Fencing & Groundworks Ltd.

Mackinnon Fencing & Groundworks Ltd. (Registered number: SC377015)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mackinnon Fencing & Groundworks Ltd.

Company Information
for the Year Ended 31 March 2023







DIRECTOR: J Mackinnon





REGISTERED OFFICE: Milburn Road Depot
Milburn Road
Renton
G82 4PZ





REGISTERED NUMBER: SC377015 (Scotland)





ACCOUNTANTS: Accountants Plus
Chartered Certified Accountants
Unit 1 Cadzow Park
82 Muir Street
Hamilton
ML3 6BJ

Mackinnon Fencing & Groundworks Ltd. (Registered number: SC377015)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 292,230 122,655

CURRENT ASSETS
Stocks 28,458 25,183
Debtors 5 306,983 408,483
Prepayments and accrued income 8,852 11,413
Cash at bank 337,224 251,667
681,517 696,746
CREDITORS
Amounts falling due within one year 6 285,629 397,318
NET CURRENT ASSETS 395,888 299,428
TOTAL ASSETS LESS CURRENT
LIABILITIES

688,118

422,083

CREDITORS
Amounts falling due after more than
one year

7

(132,141

)

(35,915

)

PROVISIONS FOR LIABILITIES (55,524 ) (23,304 )
NET ASSETS 500,453 362,864

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 500,449 362,860
500,453 362,864

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.

Mackinnon Fencing & Groundworks Ltd. (Registered number: SC377015)

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.

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 23 November 2023 and were signed by:





J Mackinnon - Director


Mackinnon Fencing & Groundworks Ltd. (Registered number: SC377015)

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

1. STATUTORY INFORMATION

Mackinnon Fencing & Groundworks 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 20% on cost
Motor vehicles - 25% on reducing balance

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

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and bank balances
Cash and bank balances are measured at the transaction price.


Mackinnon Fencing & Groundworks Ltd. (Registered number: SC377015)

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

2. ACCOUNTING POLICIES - continued
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.

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 18 (2022 - 19 ) .

Mackinnon Fencing & Groundworks Ltd. (Registered number: SC377015)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 74,003 176,570 250,573
Additions 33,888 235,580 269,468
Disposals - (16,350 ) (16,350 )
At 31 March 2023 107,891 395,800 503,691
DEPRECIATION
At 1 April 2022 34,768 93,150 127,918
Charge for year 14,625 77,911 92,536
Eliminated on disposal - (8,993 ) (8,993 )
At 31 March 2023 49,393 162,068 211,461
NET BOOK VALUE
At 31 March 2023 58,498 233,732 292,230
At 31 March 2022 39,235 83,420 122,655

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 159,761 394,913
Taxation recoverable 16,410 -
VAT 130,812 13,570
306,983 408,483

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 41,324 17,856
Trade creditors 185,573 138,623
Corporation tax 5,959 41,903
Social security and other taxes 10,176 15,831
Pension payable 524 352
Credit card 2,327 11,360
Directors' current accounts 37,082 18,429
Accruals and deferred income - 150,000
Accrued expenses 2,664 2,964
285,629 397,318

Mackinnon Fencing & Groundworks Ltd. (Registered number: SC377015)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 132,141 35,915

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Hire purchase contracts 173,465 53,771

Hire purchase creditors are secured over the assets being financed.