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REGISTERED NUMBER: SC529730 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

R MacLeod & Son Limited

R MacLeod & Son Limited (Registered number: SC529730)






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

Chartered Certified Accountants' Report 7

R MacLeod & Son Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: G MacLeod
Mrs V J MacLeod





SECRETARY: Mrs V J MacLeod





REGISTERED OFFICE: 14 Lamington Street
Tain
IV19 1AA





REGISTERED NUMBER: SC529730 (Scotland)





ACCOUNTANTS: Innes & Partners Limited
Chartered Certified Accountants
9 Ardross Street
Inverness
IV3 5NN

R MacLeod & Son Limited (Registered number: SC529730)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 91,297 116,968

CURRENT ASSETS
Stocks 5 1,084,171 1,028,450
Debtors 6 61,631 23,337
Cash at bank and in hand 979,958 1,125,489
2,125,760 2,177,276
CREDITORS
Amounts falling due within one year 7 203,810 348,381
NET CURRENT ASSETS 1,921,950 1,828,895
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,013,247

1,945,863

PROVISIONS FOR LIABILITIES 10,608 11,323
NET ASSETS 2,002,639 1,934,540

CAPITAL AND RESERVES
Called up share capital 8 700,100 700,100
Retained earnings 1,302,539 1,234,440
SHAREHOLDERS' FUNDS 2,002,639 1,934,540

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 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.

R MacLeod & Son Limited (Registered number: SC529730)

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 Board of Directors and authorised for issue on 23 February 2024 and were signed on its behalf by:




G MacLeod - Director



Mrs V J MacLeod - Director


R MacLeod & Son Limited (Registered number: SC529730)

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

1. STATUTORY INFORMATION

R MacLeod & Son 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.

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.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on cost and 20% 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.

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 7 (2022 - 8 ) .

R MacLeod & Son Limited (Registered number: SC529730)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 75,146 133,618 208,764
Additions - 1,682 1,682
At 31 March 2023 75,146 135,300 210,446
DEPRECIATION
At 1 April 2022 20,478 71,318 91,796
Charge for year 7,515 19,838 27,353
At 31 March 2023 27,993 91,156 119,149
NET BOOK VALUE
At 31 March 2023 47,153 44,144 91,297
At 31 March 2022 54,668 62,300 116,968

5. STOCKS
2023 2022
£    £   
Stocks 1,084,171 1,028,450

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 60,682 22,073
Prepayments 949 1,264
61,631 23,337

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 119,359 182,239
Taxation and social security 64,943 108,864
Other creditors 19,508 57,278
203,810 348,381

R MacLeod & Son Limited (Registered number: SC529730)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
350,040 Ordinary A £1 350,040 350,040
350,040 Ordinary B £1 350,040 350,040
5 Ordinary C £1 5 5
5 Ordinary D £1 5 5
5 Ordinary E £1 5 5
5 Ordinary F £1 5 5
700,100 700,100

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
R MacLeod & Son Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of R MacLeod & Son Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of R MacLeod & Son Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of R MacLeod & Son Limited and state those matters that we have agreed to state to the Board of Directors of R MacLeod & Son Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that R MacLeod & Son 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 R MacLeod & Son Limited. You consider that R MacLeod & Son 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 R MacLeod & Son 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.






Innes & Partners Limited
Chartered Certified Accountants
9 Ardross Street
Inverness
IV3 5NN


23 February 2024