IRIS Accounts Production v24.1.0.578 SC047694 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC0476942022-12-31SC0476942023-12-31SC0476942023-01-012023-12-31SC0476942021-12-31SC0476942022-01-012022-12-31SC0476942022-12-31SC047694ns15:Scotland2023-01-012023-12-31SC047694ns14:PoundSterling2023-01-012023-12-31SC047694ns10:Director12023-01-012023-12-31SC047694ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31SC047694ns10:SmallEntities2023-01-012023-12-31SC047694ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-31SC047694ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31SC047694ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC047694ns10:FullAccounts2023-01-012023-12-31SC047694ns10:Director22023-01-012023-12-31SC047694ns10:CompanySecretary12023-01-012023-12-31SC047694ns10:RegisteredOffice2023-01-012023-12-31SC047694ns5:CurrentFinancialInstruments2023-12-31SC047694ns5:CurrentFinancialInstruments2022-12-31SC047694ns5:Non-currentFinancialInstruments2023-12-31SC047694ns5:Non-currentFinancialInstruments2022-12-31SC047694ns5:ShareCapital2023-12-31SC047694ns5:ShareCapital2022-12-31SC047694ns5:CapitalRedemptionReserve2023-12-31SC047694ns5:CapitalRedemptionReserve2022-12-31SC047694ns5:RetainedEarningsAccumulatedLosses2023-12-31SC047694ns5:RetainedEarningsAccumulatedLosses2022-12-31SC047694ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-01-012023-12-31SC047694ns5:ShortLeaseholdAssetsns5:LandBuildings2023-01-012023-12-31SC047694ns5:PlantMachinery2023-01-012023-12-31SC047694ns5:ComputerEquipment2023-01-012023-12-31SC047694ns5:LandBuildings2022-12-31SC047694ns5:ShortLeaseholdAssetsns5:LandBuildings2022-12-31SC047694ns5:PlantMachinery2022-12-31SC047694ns5:ComputerEquipment2022-12-31SC047694ns5:LandBuildings2023-01-012023-12-31SC047694ns5:LandBuildings2023-12-31SC047694ns5:ShortLeaseholdAssetsns5:LandBuildings2023-12-31SC047694ns5:PlantMachinery2023-12-31SC047694ns5:ComputerEquipment2023-12-31SC047694ns5:LandBuildings2022-12-31SC047694ns5:ShortLeaseholdAssetsns5:LandBuildings2022-12-31SC047694ns5:PlantMachinery2022-12-31SC047694ns5:ComputerEquipment2022-12-31SC047694ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-31SC047694ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31SC047694ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-12-31SC047694ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-12-31SC047694ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-31SC047694ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-12-31SC047694ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-12-31SC047694ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-12-31
REGISTERED NUMBER: SC047694 (Scotland)















N L MACDONALD LTD

Financial Statements for the Year Ended 31 December 2023






N L MACDONALD LTD (REGISTERED NUMBER: SC047694)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


N L MACDONALD LTD

Company Information
for the Year Ended 31 December 2023







DIRECTORS: N L Macdonald
A M Macdonald





SECRETARY: N L Macdonald





REGISTERED OFFICE: 64/67 Bayhead
Stornoway
Isle of Lewis
HS1 2DZ





REGISTERED NUMBER: SC047694 (Scotland)





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

N L MACDONALD LTD (REGISTERED NUMBER: SC047694)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,924,520 1,947,086

CURRENT ASSETS
Stocks 249,523 234,616
Debtors 6 87,332 89,719
Prepayments and accrued income 13,362 11,631
Cash at bank and in hand 288,519 296,759
638,736 632,725
CREDITORS
Amounts falling due within one year 7 486,097 384,086
NET CURRENT ASSETS 152,639 248,639
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,077,159

2,195,725

CREDITORS
Amounts falling due after more than one
year

8

126,899

298,393
NET ASSETS 1,950,260 1,897,332

CAPITAL AND RESERVES
Called up share capital 200 200
Capital redemption reserve 400 400
Retained earnings 1,949,660 1,896,732
SHAREHOLDERS' FUNDS 1,950,260 1,897,332

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

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

N L MACDONALD LTD (REGISTERED NUMBER: SC047694)

Balance Sheet - continued
31 December 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 Board of Directors and authorised for issue on 12 April 2024 and were signed on its behalf by:





A M Macdonald - Director


N L MACDONALD LTD (REGISTERED NUMBER: SC047694)

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

1. STATUTORY INFORMATION

N L Macdonald 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.

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.

Turnover
Turnover represents the sale of petroleum and goods from the forecourt shop in the period, excluding value added tax.

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 - 2% depreciation on cost
Leasehold - 5% depreciation on cost
Plant and machinery - 15% depreciation on cost
Computer equipment - 25% depreciation 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 Profit and Loss Account, 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.

N L MACDONALD LTD (REGISTERED NUMBER: SC047694)

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

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 35 ) .

5. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property Leasehold machinery equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 2,259,999 167,316 642,408 23,699 3,093,422
Additions - - 56,619 2,379 58,998
At 31 December 2023 2,259,999 167,316 699,027 26,078 3,152,420
DEPRECIATION
At 1 January 2023 524,107 167,316 431,670 23,243 1,146,336
Charge for year 41,600 - 39,161 803 81,564
At 31 December 2023 565,707 167,316 470,831 24,046 1,227,900
NET BOOK VALUE
At 31 December 2023 1,694,292 - 228,196 2,032 1,924,520
At 31 December 2022 1,735,892 - 210,738 456 1,947,086

Included in cost of land and buildings is freehold land of £ 402,836 (2022 - £ 402,836 ) which is not depreciated.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 77,075 59,844
Other debtors 10,257 29,875
87,332 89,719

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 8,300 -
Trade creditors 282,586 263,201
Corporation Tax 49,354 19,377
Wages arrestment 93 -
VAT 21,134 5,106
Other creditors 9,501 9,501
Other taxes & social security 11,781 9,180
Pension creditor - 1,520
Pay Point control account 8,229 6,197
Vouchers liability 17,608 13,374
Accrued charges 77,511 56,630
486,097 384,086

N L MACDONALD LTD (REGISTERED NUMBER: SC047694)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 8,300 -
Bank loans - 2-5 years 24,900 -
Bank loans more 5 yr by instal 19,361 -
Directors' loan accounts 74,338 298,393
126,899 298,393

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 19,361 -

9. RELATED PARTY DISCLOSURES

The company paid rent of £24,000 (2022: £24,000) during the year to N L Macdonald. N L Macdonald is a director of, and a shareholder in, the company.

Creditors includes loans from directors of £74,338 (2022: £298,393). There are no repayment terms in place and no interest is being charged on the outstanding balance.

10. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.