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REGISTERED NUMBER: SC439809 (Scotland)












Financial Statements for the Year Ended 31 December 2023

for

MACKENZIE PETROLEUM LTD

MACKENZIE PETROLEUM LTD (REGISTERED NUMBER: SC439809)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MACKENZIE PETROLEUM LTD

Company Information
for the Year Ended 31 December 2023







DIRECTOR: G Mackenzie





REGISTERED OFFICE: 12 Traill Drive
Montrose
Angus
DD10 8SW





REGISTERED NUMBER: SC439809 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

MACKENZIE PETROLEUM LTD (REGISTERED NUMBER: SC439809)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47,558 48,668

CURRENT ASSETS
Cash at bank 346 30

CREDITORS
Amounts falling due within one year 5 12,434 12,497
NET CURRENT LIABILITIES (12,088 ) (12,467 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,470

36,201

CREDITORS
Amounts falling due after more than one
year

6

22,923

28,333
NET ASSETS 12,547 7,868

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 12,546 7,867
SHAREHOLDERS' FUNDS 12,547 7,868

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

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

MACKENZIE PETROLEUM LTD (REGISTERED NUMBER: SC439809)

Balance Sheet - continued
31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 February 2024 and were signed by:





G Mackenzie - Director


MACKENZIE PETROLEUM LTD (REGISTERED NUMBER: SC439809)

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

1. STATUTORY INFORMATION

Mackenzie Petroleum 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, 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.
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on reducing balance

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 44,320 8,478 11,450 64,248
DEPRECIATION
At 1 January 2023 - 7,427 8,153 15,580
Charge for year - 286 824 1,110
At 31 December 2023 - 7,713 8,977 16,690
NET BOOK VALUE
At 31 December 2023 44,320 765 2,473 47,558
At 31 December 2022 44,320 1,051 3,297 48,668

MACKENZIE PETROLEUM LTD (REGISTERED NUMBER: SC439809)

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

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Taxation and social security 848 (1,932 )
Other creditors 1,586 4,429
12,434 12,497

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 22,923 28,333

7. RELATED PARTY DISCLOSURES

The company was under the control of the director, G F MacKenzie throughout the current and previous year.

During the year the director advanced the company net amounts totalling £2,903. At the end of the current year the company owes the director £816 (2022 - £3,719).