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REGISTERED NUMBER: SC235838 (Scotland)















MACASKILL FUELS LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023






MACASKILL FUELS LIMITED (REGISTERED NUMBER: SC235838)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MACASKILL FUELS LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2023







DIRECTOR: J R Macaskill





REGISTERED OFFICE: 26 Lewis Street
Stornoway
Isle of Lewis
HS1 2JF





REGISTERED NUMBER: SC235838 (Scotland)





ACCOUNTANTS: Mann Judd Gordon Ltd
Chartered Accountants
26 Lewis Street
Stornoway
Isle of Lewis
HS1 2JF

MACASKILL FUELS LIMITED (REGISTERED NUMBER: SC235838)

BALANCE SHEET
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 694,013 701,071

CURRENT ASSETS
Stocks 175,559 381,244
Debtors 6 136,368 178,024
Cash at bank 301,186 396,538
613,113 955,806
CREDITORS
Amounts falling due within one year 7 123,596 600,948
NET CURRENT ASSETS 489,517 354,858
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,183,530

1,055,929

CREDITORS
Amounts falling due after more than one year 8 (36,706 ) (58,793 )

PROVISIONS FOR LIABILITIES (23,959 ) (58,763 )
NET ASSETS 1,122,865 938,373

CAPITAL AND RESERVES
Called up share capital 20 60
Capital redemption reserve 40 40
Retained earnings 1,122,805 938,273
SHAREHOLDERS' FUNDS 1,122,865 938,373

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

MACASKILL FUELS LIMITED (REGISTERED NUMBER: SC235838)

BALANCE SHEET - continued
30 April 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 13 February 2024 and were signed by:





J R Macaskill - Director


MACASKILL FUELS LIMITED (REGISTERED NUMBER: SC235838)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Macaskill Fuels 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 (£).


The financial statements are rounded to the nearest £1.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The area of the accounts where significant judgements and estimates are used is within fixed assets. Estimates are made of both the useful economic life of assets and of residual value attached to those assets which in turn determines the depreciation rates and charges in the accounts.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Plant and machinery - 15% depreciation on reducing balance
Fixtures and fittings - 15% depreciation on reducing balance
Motor vehicles - 25% depreciation on reducing balance
Computer equipment - 20% depreciation on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

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.

MACASKILL FUELS LIMITED (REGISTERED NUMBER: SC235838)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 9 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2022 571,083 66,287 2,352
Additions - - -
At 30 April 2023 571,083 66,287 2,352
DEPRECIATION
At 1 May 2022 - 47,908 1,704
Charge for year - 4,594 162
At 30 April 2023 - 52,502 1,866
NET BOOK VALUE
At 30 April 2023 571,083 13,785 486
At 30 April 2022 571,083 18,379 648

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2022 332,829 6,052 978,603
Additions 23,750 - 23,750
At 30 April 2023 356,579 6,052 1,002,353
DEPRECIATION
At 1 May 2022 221,868 6,052 277,532
Charge for year 26,052 - 30,808
At 30 April 2023 247,920 6,052 308,340
NET BOOK VALUE
At 30 April 2023 108,659 - 694,013
At 30 April 2022 110,961 - 701,071

MACASKILL FUELS LIMITED (REGISTERED NUMBER: SC235838)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

5. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 1 May 2022 89,827
Additions 23,750
At 30 April 2023 113,577
DEPRECIATION
At 1 May 2022 17,544
Charge for year 19,266
At 30 April 2023 36,810
NET BOOK VALUE
At 30 April 2023 76,767
At 30 April 2022 72,283

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 52,358 30,272
Other debtors 84,010 147,752
136,368 178,024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 11,346 11,347
Hire purchase contracts 26,507 16,507
Trade creditors 24,532 505,260
Taxation and social security 53,355 59,568
Other creditors 7,856 8,266
123,596 600,948

MACASKILL FUELS LIMITED (REGISTERED NUMBER: SC235838)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans 24,410 34,990
Hire purchase contracts 12,296 23,803
36,706 58,793

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.23 30.4.22
£    £   
Bank loans 35,756 46,337

The company has granted a bond and floating charge over its assets and a standard security over 14 Inaclete Road in favour of the Bank of Scotland.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2023 and 30 April 2022:

30.4.23 30.4.22
£    £   
J R Macaskill
Balance outstanding at start of year 32,415 -
Amounts advanced - 32,415
Amounts repaid (32,415 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 32,415

11. ULTIMATE CONTROLLING PARTY

The controlling party is J R Macaskill.