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REGISTERED NUMBER: SC441919 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29TH FEBRUARY 2024

FOR

MARTIN BUCHAN WELLHEAD
SPECIALIST LTD

MARTIN BUCHAN WELLHEAD
SPECIALIST LTD (REGISTERED NUMBER: SC441919)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 6

MARTIN BUCHAN WELLHEAD
SPECIALIST LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH FEBRUARY 2024







DIRECTORS: M J Buchan
Mrs W Buchan





REGISTERED OFFICE: 1 Memsie Meadows
Memsie
Aberdeenshire
AB43 7AN





REGISTERED NUMBER: SC441919 (Scotland)





ACCOUNTANTS: Goldwells
Goldwells House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN

MARTIN BUCHAN WELLHEAD
SPECIALIST LTD (REGISTERED NUMBER: SC441919)

BALANCE SHEET
29TH FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 180,835 183,297

CURRENT ASSETS
Debtors 5 12,601 11,424
Cash at bank 57,072 39,107
69,673 50,531
CREDITORS
Amounts falling due within one year 6 24,946 30,506
NET CURRENT ASSETS 44,727 20,025
TOTAL ASSETS LESS CURRENT
LIABILITIES

225,562

203,322

PROVISIONS FOR LIABILITIES 931 1,438
NET ASSETS 224,631 201,884

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 224,629 201,882
224,631 201,884

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 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.

MARTIN BUCHAN WELLHEAD
SPECIALIST LTD (REGISTERED NUMBER: SC441919)

BALANCE SHEET - continued
29TH FEBRUARY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2nd September 2024 and were signed on its behalf by:





M J Buchan - Director


MARTIN BUCHAN WELLHEAD
SPECIALIST LTD (REGISTERED NUMBER: SC441919)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024

1. STATUTORY INFORMATION

Martin Buchan Wellhead Specialist 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 (£).


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 - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MARTIN BUCHAN WELLHEAD
SPECIALIST LTD (REGISTERED NUMBER: SC441919)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1st March 2023 175,955 13,457 695 190,107
Additions - 631 541 1,172
Disposals - - (583 ) (583 )
At 29th February 2024 175,955 14,088 653 190,696
DEPRECIATION
At 1st March 2023 - 6,292 518 6,810
Charge for year - 3,378 234 3,612
Eliminated on disposal - - (561 ) (561 )
At 29th February 2024 - 9,670 191 9,861
NET BOOK VALUE
At 29th February 2024 175,955 4,418 462 180,835
At 28th February 2023 175,955 7,165 177 183,297

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,550 11,000
VAT 854 338
Prepayments and accrued income 197 86
12,601 11,424

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 24,931 30,460
Directors' current account 15 46
24,946 30,506

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The Director's Loan account is interest free and has no fixed repayment date.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MARTIN BUCHAN WELLHEAD
SPECIALIST LTD (REGISTERED NUMBER: SC441919)

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 Martin Buchan Wellhead Specialist Ltd for the year ended 29th February 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 Martin Buchan Wellhead Specialist Ltd, 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 Martin Buchan Wellhead Specialist Ltd and state those matters that we have agreed to state to the Board of Directors of Martin Buchan Wellhead Specialist Ltd, 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 Martin Buchan Wellhead Specialist Ltd 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 Martin Buchan Wellhead Specialist Ltd. You consider that Martin Buchan Wellhead Specialist Ltd 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 Martin Buchan Wellhead Specialist Ltd. 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.






Goldwells
Goldwells House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN


2nd September 2024