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Registration number: SC408733

Archibald Marckay Limited

Unaudited Filleted Financial Statements

for the Period from 1 September 2022 to 30 August 2023

 

Archibald Marckay Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 10

 

Archibald Marckay Limited

Company Information

Directors

NM Claydon

Mrs CK Claydon

Registered office

3 Succoth Gardens
Edinburgh
EH12 6BR

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

Archibald Marckay Limited

(Registration number: SC408733)
Balance Sheet as at 30 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

6

5,522

8,466

Current assets

 

Debtors

7

2,003,309

1,796,029

Investments

8

3,000

3,000

Cash at bank and in hand

 

8,803

788

 

2,015,112

1,799,817

Creditors: Amounts falling due within one year

9

(368,339)

(331,376)

Net current assets

 

1,646,773

1,468,441

Total assets less current liabilities

 

1,652,295

1,476,907

Creditors: Amounts falling due after more than one year

9

(35,700)

(51,500)

Provisions for liabilities

228

540

Net assets

 

1,616,823

1,425,947

Capital and reserves

 

Called up share capital

2

2

Retained earnings

1,616,821

1,425,945

Shareholders' funds

 

1,616,823

1,425,947

 

Archibald Marckay Limited

(Registration number: SC408733)
Balance Sheet as at 30 August 2023

For the financial period ending 30 August 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 19 August 2024 and signed on its behalf by:
 

.........................................
NM Claydon
Director

.........................................
Mrs CK Claydon
Director

 
     
 

Archibald Marckay Limited

Notes to the Financial Statements for the Period from 1 September 2022 to 30 August 2023

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
3 Succoth Gardens
Edinburgh
EH12 6BR

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

 

Archibald Marckay Limited

Notes to the Financial Statements for the Period from 1 September 2022 to 30 August 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% Straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 5 years

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Archibald Marckay Limited

Notes to the Financial Statements for the Period from 1 September 2022 to 30 August 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2022 - 2).

 

Archibald Marckay Limited

Notes to the Financial Statements for the Period from 1 September 2022 to 30 August 2023

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

2,944

4,030

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2022

30,000

30,000

At 30 August 2023

30,000

30,000

Amortisation

At 1 September 2022

30,000

30,000

At 30 August 2023

30,000

30,000

Carrying amount

At 30 August 2023

-

-

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2022

31,018

31,018

At 30 August 2023

31,018

31,018

Depreciation

At 1 September 2022

22,552

22,552

Charge for the period

2,944

2,944

At 30 August 2023

25,496

25,496

Carrying amount

At 30 August 2023

5,522

5,522

At 31 August 2022

8,466

8,466

 

Archibald Marckay Limited

Notes to the Financial Statements for the Period from 1 September 2022 to 30 August 2023

7

Debtors

2023
£

2022
£

Trade debtors

10,765

9,444

Other debtors

1,992,544

1,786,585

2,003,309

1,796,029

8

Current asset investments

2023
£

2022
£

Other investments

3,000

3,000

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

48,395

53,797

Trade creditors

 

2,791

2,249

Taxation and social security

 

314,353

272,540

Accruals and deferred income

 

2,800

2,790

 

368,339

331,376

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

35,700

51,500

 

Archibald Marckay Limited

Notes to the Financial Statements for the Period from 1 September 2022 to 30 August 2023

10

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Other borrowings

35,700

51,500

Current loans and borrowings

2023
£

2022
£

Bank overdrafts

37,595

46,597

Other borrowings

10,800

7,200

48,395

53,797

11

Related party transactions

2023

At 1 September 2022
£

Advances to director
£

Repayments by director
£

At 30 August 2023
£

Directors' loan account

444,492

330,326

(120,539)

654,278

 

2022

At 1 September 2021
£

Advances to director
£

Repayments by director
£

At 31 August 2022
£

Directors' loan account

624,608

425,374

(605,490)

444,492

 

Archibald Marckay Limited

Notes to the Financial Statements for the Period from 1 September 2022 to 30 August 2023

 

Summary of transactions with other related parties

Archibald Marckay Hospitality Limited
At the balance sheet date the amount due from Archibald Marckay Hospitality Limited was £578,759 (2022 :
£433,353 ). N Claydon and C Claydon are directors of this company.

Archibald Marckay Property Limited
At the balance sheet date the amount due from Archibald Marckay Property Limited was £727,093 (2022
: £885,070 ). N Claydon and C Claydon are directors of this company.

Rooster Leisure Limited
At the balance sheet date the amount due from Rooster Leisure Limited was £3,119.
N Claydon and C Claydon are directors of this company.