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MAKRON PROPERTIES LIMITED

Registered Number
SC078830
(Scotland)

Unaudited Financial Statements for the Year ended
31 August 2023

MAKRON PROPERTIES LIMITED
Company Information
for the year from 1 September 2022 to 31 August 2023

Director

COWLEY, Ronald George

Registered Address

6 Miller Road
Ayr
KA7 2AY

Registered Number

SC078830 (Scotland)
MAKRON PROPERTIES LIMITED
Balance Sheet as at
31 August 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets31,221,6201,221,350
1,221,6201,221,350
Current assets
Debtors17,50318,401
Cash at bank and on hand28,42072,493
45,92390,894
Creditors amounts falling due within one year4(96,334)(56,160)
Net current assets (liabilities)(50,411)34,734
Total assets less current liabilities1,171,2091,256,084
Creditors amounts falling due after one year(29,000)(195,985)
Net assets1,142,2091,060,099
Capital and reserves
Called up share capital100100
Profit and loss account1,142,1091,059,999
Shareholders' funds1,142,2091,060,099
The financial statements were approved and authorised for issue by the Director on 29 August 2024, and are signed on its behalf by:
COWLEY, Ronald George
Director
Registered Company No. SC078830
MAKRON PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 31 August 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
The preparation of financial statements requires the use of certain accounting estimates . It also requires the Directors to exercise judgement in applying the Companies Accounting policies. The areas requiring a higher degree of judgement, or complexity, and areas where assumptions or estimates are most Significant to the financial statements, are disclosed below: Estimation Uncertainty Useful life of properties, plant and equipment The Company assesses the useful life of its properties, plant and equipment and estimates the annual charge to be depreciated based on this. Recoverability of Debtors The Company assesses the recoverability of Debtors on an individual basis, taking into consideration payment history, and perceived liquidity. Where it is considered that there is a higher than normal risk to the recoverability of these, provision is made against the recoverability of these debts.
Turnover policy
Turnover represents net invoiced property rental income, excluding value added tax
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Financial instruments
Classification The Company believes all financial instruments are Basic Financial Instruments. Therefore, the Company recognises these in accordance with Section 11 of the Financial Reporting Standard. Recognition and measurement The company's debt instruments are measured at amortised cost using the effective interest rate method. Impairment Financial instruments are reviewed annually for impairment.
2.Average number of employees

20232022
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 September 221,221,641
Additions300
At 31 August 231,221,941
Depreciation and impairment
At 01 September 22291
Charge for year30
At 31 August 23321
Net book value
At 31 August 231,221,620
At 31 August 221,221,350
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables5,96260
Bank borrowings and overdrafts-8,923
Taxation and social security26,06523,698
Other creditors45,421820
Accrued liabilities and deferred income18,88622,659
Total96,33456,160
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.