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REGISTERED NUMBER: SC506063 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

Macbones Ltd

Macbones Ltd (Registered number: SC506063)






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


Macbones Ltd

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mrs M T El Adm
Mr S El Adm





REGISTERED OFFICE: Mulloch Mor
Tennis Court Road
Lamlash
Isle of Arran
KA27 8NH





REGISTERED NUMBER: SC506063 (Scotland)





ACCOUNTANTS: Burgoyne Carey
Chartered Accountants
Pavilion 2
3 Dava Street
Broomloan Road
Glasgow
G51 2JA

Macbones Ltd (Registered number: SC506063)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 101,998 99,621
101,998 99,621

CURRENT ASSETS
Stocks 5,000 5,000
Cash at bank and in hand 205,178 184,910
210,178 189,910
CREDITORS
Amounts falling due within one year 6 138,066 121,412
NET CURRENT ASSETS 72,112 68,498
TOTAL ASSETS LESS CURRENT
LIABILITIES

174,110

168,119

CREDITORS
Amounts falling due after more than one
year

7

20,929

40,914
NET ASSETS 153,181 127,205

CAPITAL AND RESERVES
Called up share capital 54 54
Retained earnings 153,127 127,151
153,181 127,205

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 directors acknowledge their 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.

Macbones Ltd (Registered number: SC506063)

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 Board of Directors and authorised for issue on 12 January 2024 and were signed on its behalf by:




Mr S El Adm - Director



Mrs M T El Adm - Director


Macbones Ltd (Registered number: SC506063)

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

1. STATUTORY INFORMATION

Macbones 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 represents amounts invoiced during the year net, exclusive of Value Added Tax.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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.
Freehold property - 20% on cost
Office equipment - 25% on cost
Fixtures and fittings - 25% on cost
Website - 25% on cost

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

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.

Macbones Ltd (Registered number: SC506063)

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

2. ACCOUNTING POLICIES - continued

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 26 (2022 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 135,000
AMORTISATION
At 1 June 2022
and 31 May 2023 135,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Office and
property equipment fittings Website Totals
£    £    £    £    £   
COST
At 1 June 2022 97,103 2,461 66,252 1,809 167,625
Additions - - 4,868 - 4,868
At 31 May 2023 97,103 2,461 71,120 1,809 172,493
DEPRECIATION
At 1 June 2022 2,025 2,202 61,968 1,809 68,004
Charge for year - 82 2,409 - 2,491
At 31 May 2023 2,025 2,284 64,377 1,809 70,495
NET BOOK VALUE
At 31 May 2023 95,078 177 6,743 - 101,998
At 31 May 2022 95,078 259 4,284 - 99,621

Macbones Ltd (Registered number: SC506063)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 -
Trade creditors 6,700 -
Tax 12,967 9,851
Social security and other taxes 2,155 3,930
VAT 29,136 26,631
Other creditors 15,512 13,601
Pension Liability 171 198
Directors' loan accounts 47,725 58,401
Accrued expenses 13,700 8,800
138,066 121,412

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 -
Bank loans - 2-5 years 10,929 40,914
20,929 40,914

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
Mr S El Adm and Mrs M T El Adm
Balance outstanding at start of year (58,401 ) (43,910 )
Amounts advanced 41,346 25,509
Amounts repaid (30,670 ) (40,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (47,725 ) (58,401 )