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REGISTERED NUMBER: SC057105 (Scotland)















Unaudited Financial Statements For The Year Ended 31st January 2024

for

MACKENZIE ENTERPRISES (ELGIN) LIMITED

MACKENZIE ENTERPRISES (ELGIN) LIMITED (REGISTERED NUMBER: SC057105)






Contents of the Financial Statements
For The Year Ended 31st January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MACKENZIE ENTERPRISES (ELGIN) LIMITED

Company Information
For The Year Ended 31st January 2024







Directors: Mr Graeme Mackenzie
Mrs Susan Mackenzie





Secretary: Mrs Susan Mackenzie





Registered office: 151 High Street
Elgin
Moray
IV30 1DX





Registered number: SC057105 (Scotland)





Accountants: Goldwells
15-17 High Street
Kingussie
Inverness-Shire
PH21 1HS

MACKENZIE ENTERPRISES (ELGIN) LIMITED (REGISTERED NUMBER: SC057105)

Balance Sheet
31st January 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 2,026 1,303
Investment property 5 502,916 568,654
504,942 569,957

Current assets
Debtors 6 756 653
Cash at bank and in hand 145,316 77,796
146,072 78,449
Creditors
Amounts falling due within one year 7 73,949 49,856
Net current assets 72,123 28,593
Total assets less current liabilities 577,065 598,550

Provisions for liabilities 15,722 15,850
Net assets 561,343 582,700

Capital and reserves
Called up share capital 19,800 19,800
Revaluation reserve 8 198,969 198,969
Retained earnings 342,574 363,931
Shareholders' funds 561,343 582,700

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

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

MACKENZIE ENTERPRISES (ELGIN) LIMITED (REGISTERED NUMBER: SC057105)

Balance Sheet - continued
31st January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th September 2024 and were signed on its behalf by:





Mr Graeme Mackenzie - Director


MACKENZIE ENTERPRISES (ELGIN) LIMITED (REGISTERED NUMBER: SC057105)

Notes to the Financial Statements
For The Year Ended 31st January 2024

1. Statutory information

Mackenzie Enterprises (Elgin) 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 - 25% on reducing balance

Investment property
Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit and loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
No depreciation is applied to Investment property.
The directors valued the investment properties at £502,916, on a fair value basis at 31 January 2024.

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.

3. Employees and directors

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

MACKENZIE ENTERPRISES (ELGIN) LIMITED (REGISTERED NUMBER: SC057105)

Notes to the Financial Statements - continued
For The Year Ended 31st January 2024

4. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1st February 2023 2,257
Additions 1,399
At 31st January 2024 3,656
Depreciation
At 1st February 2023 954
Charge for year 676
At 31st January 2024 1,630
Net book value
At 31st January 2024 2,026
At 31st January 2023 1,303

5. Investment property
Total
£   
Fair value
At 1st February 2023 568,654
Disposals (65,738 )
At 31st January 2024 502,916
Net book value
At 31st January 2024 502,916
At 31st January 2023 568,654

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 756 653

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Taxation and social security 2,156 1,314
Other creditors 71,793 48,542
73,949 49,856

MACKENZIE ENTERPRISES (ELGIN) LIMITED (REGISTERED NUMBER: SC057105)

Notes to the Financial Statements - continued
For The Year Ended 31st January 2024

8. Reserves
Revaluation
reserve
£   
At 1st February 2023
and 31st January 2024 198,969

9. Related party disclosures

At 31January 2024 the company owed £45,000 to Mackenzie Investments (Elgin) Limited, a company that one of the director's has a significant interest in. This loan is interest free and has no fixed terms of repayment.