22
30/06/2023
2023-06-30
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
true
false
No description of principal activities is disclosed
2022-07-01
Sage Accounts Production 23.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
SC165246
2022-07-01
2023-06-30
SC165246
2023-06-30
SC165246
2022-06-30
SC165246
2021-07-01
2022-06-30
SC165246
2022-06-30
SC165246
2021-06-30
SC165246
core:PlantMachinery
2022-07-01
2023-06-30
SC165246
core:FurnitureFittingsToolsEquipment
2022-07-01
2023-06-30
SC165246
core:MotorVehicles
2022-07-01
2023-06-30
SC165246
core:OnerousContractsExcludingVacantProperties
2022-07-01
2023-06-30
SC165246
bus:RegisteredOffice
2022-07-01
2023-06-30
SC165246
bus:LeadAgentIfApplicable
2022-07-01
2023-06-30
SC165246
bus:Director1
2022-07-01
2023-06-30
SC165246
bus:Director2
2022-07-01
2023-06-30
SC165246
bus:Director3
2022-07-01
2023-06-30
SC165246
bus:CompanySecretary1
2022-07-01
2023-06-30
SC165246
core:LandBuildings
core:ShortLeaseholdAssets
2022-06-30
SC165246
core:PlantMachinery
2022-06-30
SC165246
core:FurnitureFittingsToolsEquipment
2022-06-30
SC165246
core:MotorVehicles
2022-06-30
SC165246
core:LandBuildings
core:ShortLeaseholdAssets
2023-06-30
SC165246
core:PlantMachinery
2023-06-30
SC165246
core:FurnitureFittingsToolsEquipment
2023-06-30
SC165246
core:MotorVehicles
2023-06-30
SC165246
core:WithinOneYear
2023-06-30
SC165246
core:WithinOneYear
2022-06-30
SC165246
core:AfterOneYear
2023-06-30
SC165246
core:AfterOneYear
2022-06-30
SC165246
bus:AllOrdinaryShares
2022-07-01
2023-06-30
SC165246
bus:AllOrdinaryShares
2021-07-01
2022-06-30
SC165246
core:ShareCapital
2023-06-30
SC165246
core:ShareCapital
2022-06-30
SC165246
core:RetainedEarningsAccumulatedLosses
2023-06-30
SC165246
core:RetainedEarningsAccumulatedLosses
2022-06-30
SC165246
core:PlantMachinery
2022-06-30
SC165246
core:FurnitureFittingsToolsEquipment
2022-06-30
SC165246
core:MotorVehicles
2022-06-30
SC165246
bus:SmallEntities
2022-07-01
2023-06-30
SC165246
bus:AuditExemptWithAccountantsReport
2022-07-01
2023-06-30
SC165246
bus:FullAccounts
2022-07-01
2023-06-30
SC165246
bus:SmallCompaniesRegimeForAccounts
2022-07-01
2023-06-30
SC165246
bus:PrivateLimitedCompanyLtd
2022-07-01
2023-06-30
SC165246
core:Associate1
2022-07-01
2023-06-30
SC165246
core:Associate1
2021-07-01
2022-06-30
SC165246
core:Associate2
2022-07-01
2023-06-30
SC165246
core:Associate2
2021-07-01
2022-06-30
SC165246
core:Associate3
2022-07-01
2023-06-30
SC165246
core:Associate3
2021-07-01
2022-06-30
SC165246
core:ComputerEquipment
2022-07-01
2023-06-30
SC165246
core:ComputerEquipment
2022-06-30
SC165246
core:ComputerEquipment
2023-06-30
SC165246
core:Associate2
2022-06-30
SC165246
core:Associate3
2022-06-30
SC165246
core:AllAssociates
2022-07-01
2023-06-30
Company registration number:
SC165246
McKerron & Milne Limited
Unaudited filleted financial statements
30 June 2023
McKerron & Milne Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
McKerron & Milne Limited
Directors and other information
|
|
|
|
Directors |
Brian J Yeats |
|
|
John McWilliam |
|
|
Scott Cameron |
|
|
|
|
|
|
|
Secretary |
Karan J Yeats |
|
|
|
|
|
|
|
Company number |
SC165246 |
|
|
|
|
|
|
|
Registered office |
35 New Steet |
|
|
Rothes |
|
|
Aberlour |
|
|
Banffshire |
|
|
AB38 7BQ |
|
|
|
|
|
|
|
Accountants |
The Sinclair Partnership |
|
|
4 Waukmill Drive |
|
|
Blackford |
|
|
Perthshire |
|
|
PH4 1PT |
|
|
|
McKerron & Milne Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of McKerron & Milne Limited
Year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of McKerron & Milne Limited for the year ended 30 June 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
It is your duty to ensure that McKerron & Milne 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 McKerron & Milne Limited. You consider that McKerron & Milne 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 McKerron & Milne 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.
The Sinclair Partnership
Certified Practising Accountant
4 Waukmill Drive
Blackford
Perthshire
PH4 1PT
22 February 2024
McKerron & Milne Limited
Statement of financial position
30 June 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
6 |
131,040 |
|
|
|
97,171 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
131,040 |
|
|
|
97,171 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
87,733 |
|
|
|
74,236 |
|
|
Debtors |
|
7 |
404,413 |
|
|
|
293,299 |
|
|
Cash at bank and in hand |
|
|
112,242 |
|
|
|
239,585 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
604,388 |
|
|
|
607,120 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
209,312) |
|
|
|
(
283,192) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
395,076 |
|
|
|
323,928 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
526,116 |
|
|
|
421,099 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
9 |
|
|
(
36,875) |
|
|
|
(
10,937) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
25,880) |
|
|
|
(
18,462) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
463,361 |
|
|
|
391,700 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
24,444 |
|
|
|
24,444 |
Profit and loss account |
|
|
|
|
438,917 |
|
|
|
367,256 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
463,361 |
|
|
|
391,700 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
22 February 2024
, and are signed on behalf of the board by:
Brian J Yeats
Director
Company registration number:
SC165246
McKerron & Milne Limited
Notes to the financial statements
Year ended 30 June 2023
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 35 New Steet, Rothes, Aberlour, Banffshire, AB38 7BQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery |
- |
15 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
20 % |
reducing balance |
|
Motor vehicles |
- |
25 % |
reducing balance |
|
Computer equipment |
- |
50 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand includes cash and short term highly liquid investments.
Creditors are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
22
(2022:
23
).
5.
Dividends
Equity dividends
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) |
|
21,000 |
38,000 |
|
|
|
_______ |
_______ |
|
|
|
|
|
6.
Tangible assets
|
|
Short leasehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Computer Equipment |
Total |
|
|
|
£ |
£ |
£ |
£ |
£ |
£ |
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 July 2022 |
20,689 |
193,017 |
17,556 |
217,874 |
11,169 |
460,305 |
|
|
Additions |
- |
3,871 |
- |
65,900 |
- |
69,771 |
|
|
Disposals |
- |
(
2,520) |
- |
(
65,946) |
- |
(
68,466) |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
At 30 June 2023 |
20,689 |
194,368 |
17,556 |
217,828 |
11,169 |
461,610 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 July 2022 |
20,689 |
158,331 |
16,109 |
156,836 |
11,169 |
363,134 |
|
|
Charge for the year |
- |
6,284 |
289 |
21,102 |
- |
27,675 |
|
|
Disposals |
- |
(
699) |
- |
(
59,540) |
- |
(
60,239) |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
At 30 June 2023 |
20,689 |
163,916 |
16,398 |
118,398 |
11,169 |
330,570 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 30 June 2023 |
- |
30,452 |
1,158 |
99,430 |
- |
131,040 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
At 30 June 2022 |
- |
34,686 |
1,447 |
61,038 |
- |
97,171 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
390,270 |
279,373 |
|
Other debtors |
|
14,143 |
13,926 |
|
|
|
_______ |
_______ |
|
|
|
404,413 |
293,299 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade creditors |
|
83,853 |
107,966 |
|
Corporation tax |
|
16,600 |
18,593 |
|
Social security and other taxes |
|
62,868 |
73,855 |
|
Other creditors |
|
45,991 |
82,778 |
|
|
|
_______ |
_______ |
|
|
|
209,312 |
283,192 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Other creditors |
|
36,875 |
10,937 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Related party transactions
During the year the company entered into the following transactions with related parties:
|
|
Transaction value |
|
Balance owed by/(owed to) |
|
|
|
2023 |
2022 |
2023 |
2022 |
|
|
£ |
£ |
£ |
£ |
|
Eilander Limited |
18,300 |
18,000 |
- |
- |
|
McKerron & Milne (Roofing and Slating Contractors) Limited |
32,200 |
59,800 |
- |
(
34,800) |
|
Abbeyside Nursing Home Limited |
40,863 |
40,068 |
- |
3,011 |
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
All related party transactions are carried out under all parties normal commercial terms.