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REGISTERED NUMBER: SC067133 (Scotland)















Unaudited Financial Statements

for the Year Ended

31st December 2021

for

Mackie Motors (Brechin) Limited

Mackie Motors (Brechin) Limited (Registered number: SC067133)






Contents of the Financial Statements
for the Year Ended 31st December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mackie Motors (Brechin) Limited

Company Information
for the Year Ended 31st December 2021







DIRECTORS: K J Mackie
Mrs J G Mackie





SECRETARY: Mrs J G Mackie





REGISTERED OFFICE: 58 Long Lane
Broughty Ferry
Dundee
DD5 1HH





REGISTERED NUMBER: SC067133 (Scotland)






Mackie Motors (Brechin) Limited (Registered number: SC067133)

Balance Sheet
31st December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 1,451,747
Investments 5 1,039,770 1,017,685
Investment property 6 425,000 425,000
1,464,770 2,894,432

CURRENT ASSETS
Stocks - 4,219,495
Debtors 7 10,500,424 7,588,648
Cash in hand 42,484 66,951
10,542,908 11,875,094
CREDITORS
Amounts falling due within one year 8 5,852,032 9,234,752
NET CURRENT ASSETS 4,690,876 2,640,342
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,155,646

5,534,774

CREDITORS
Amounts falling due after more than one
year

9

(1,408,484

)

(1,925,929

)

PROVISIONS FOR LIABILITIES (1,212,634 ) (62,200 )
NET ASSETS 3,534,528 3,546,645

CAPITAL AND RESERVES
Called up share capital 18,000 18,000
Revaluation reserve 10 - 240,009
Capital redemption reserve 87,000 87,000
Retained earnings 3,429,528 3,201,636
3,534,528 3,546,645

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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.

Mackie Motors (Brechin) Limited (Registered number: SC067133)

Balance Sheet - continued
31st December 2021


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 7th September 2023 and were signed on its behalf by:




K J Mackie - Director



Mrs J G Mackie - Director


Mackie Motors (Brechin) Limited (Registered number: SC067133)

Notes to the Financial Statements
for the Year Ended 31st December 2021

1. STATUTORY INFORMATION

Mackie Motors (Brechin) 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.
Plant and machinery etc - Straight line over 5 years

Investments in associates
Investments in associate undertakings are recognised at 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.

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.

Mackie Motors (Brechin) Limited (Registered number: SC067133)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2021

2. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 71 (2020 - 66 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1st January 2021 1,573,514 216,153 315,857
Disposals (1,573,514 ) (216,153 ) (315,857 )
At 31st December 2021 - - -
DEPRECIATION
At 1st January 2021 263,680 203,958 259,576
Eliminated on disposal (263,680 ) (203,958 ) (259,576 )
At 31st December 2021 - - -
NET BOOK VALUE
At 31st December 2021 - - -
At 31st December 2020 1,309,834 12,195 56,281

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st January 2021 144,140 175,695 2,425,359
Disposals (144,140 ) (175,695 ) (2,425,359 )
At 31st December 2021 - - -
DEPRECIATION
At 1st January 2021 108,309 138,089 973,612
Eliminated on disposal (108,309 ) (138,089 ) (973,612 )
At 31st December 2021 - - -
NET BOOK VALUE
At 31st December 2021 - - -
At 31st December 2020 35,831 37,606 1,451,747

Mackie Motors (Brechin) Limited (Registered number: SC067133)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2021

5. FIXED ASSET INVESTMENTS
Interest
Interest in other
in participating
associate interests Totals
£    £    £   
COST
At 1st January 2021 485,787 531,898 1,017,685
Additions 22,085 - 22,085
At 31st December 2021 507,872 531,898 1,039,770
NET BOOK VALUE
At 31st December 2021 507,872 531,898 1,039,770
At 31st December 2020 485,787 531,898 1,017,685

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st January 2021
and 31st December 2021 425,000
NET BOOK VALUE
At 31st December 2021 425,000
At 31st December 2020 425,000

7. DEBTORS
31.12.21 31.12.20
£    £   
Amounts falling due within one year:
Trade debtors 2,040,201 192,831
Other debtors 6,210,223 7,252,670
8,250,424 7,445,501

Amounts falling due after more than one year:
Other debtors 2,250,000 143,147

Aggregate amounts 10,500,424 7,588,648

Mackie Motors (Brechin) Limited (Registered number: SC067133)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2021

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans and overdrafts 367,999 301,328
Finance leases - 8,783
Trade creditors 3,189,979 4,149,093
Taxation and social security 1,684,470 1,273,285
Other creditors 609,584 3,502,263
5,852,032 9,234,752

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.21 31.12.20
£    £   
Bank loans 1,408,484 1,750,038
Other creditors - 175,891
1,408,484 1,925,929

10. RESERVES
Revaluation
reserve
£   
At 1st January 2021 240,009
Current year (240,009 )

At 31st December 2021 -