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REGISTERED NUMBER: SC056894 (Scotland)
















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Murdoch Mackenzie Construction Limited

Murdoch Mackenzie Construction Limited (Registered number: SC056894)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Murdoch Mackenzie Construction Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: R.J MacKenzie
M Mackenzie





SECRETARY: M MacKenzie





REGISTERED OFFICE: Coursington Road
Motherwell
ML1 1NR





REGISTERED NUMBER: SC056894 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Murdoch Mackenzie Construction Limited (Registered number: SC056894)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,041,913 897,502
1,041,913 897,502

CURRENT ASSETS
Stocks 323,859 363,625
Debtors 6 1,889,479 1,524,472
2,213,338 1,888,097
CREDITORS
Amounts falling due within one year 7 (685,070 ) (659,168 )
NET CURRENT ASSETS 1,528,268 1,228,929
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,570,181

2,126,431

CREDITORS
Amounts falling due after more than one
year

8

(902,552

)

(784,906

)
NET ASSETS 1,667,629 1,341,525

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 1,567,629 1,241,525
1,667,629 1,341,525

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Murdoch Mackenzie Construction Limited (Registered number: SC056894)

Balance Sheet - continued
30 September 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:





R.J MacKenzie - Director


Murdoch Mackenzie Construction Limited (Registered number: SC056894)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Murdoch Mackenzie Construction 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.

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 represents amounts receivable for goods and services net of value added tax.

Contracting turnover represents the value of work invoiced to customers, excluding value added tax, plus the value of the work done but not invoiced on long term contracts. Profits on contracts are only recognised after the final account has been agreed with the client or in the case of long term contracts when the outcome of the contract can be assessed with reasonable certainty. Provision is made in full for anticipated future losses on uncompleted contracts.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each assets over its expected useful life, as follows:

Plant and machinery - Over 3 - 5 years straight line/reducing balance

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Debtors
Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents
Cash and cash equivalent in the balance sheet comprise cash in hand and bank overdrafts. In the balance sheet bank overdrafts are shown in creditors amounts falling due within one year.

Creditors
Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.


Murdoch Mackenzie Construction Limited (Registered number: SC056894)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 25,000
AMORTISATION
At 1 October 2022
and 30 September 2023 25,000
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

Murdoch Mackenzie Construction Limited (Registered number: SC056894)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 3,610,047
Additions 446,130
Disposals (223,250 )
At 30 September 2023 3,832,927
DEPRECIATION
At 1 October 2022 2,712,545
Charge for year 301,719
Eliminated on disposal (223,250 )
At 30 September 2023 2,791,014
NET BOOK VALUE
At 30 September 2023 1,041,913
At 30 September 2022 897,502

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 October 2022 1,134,258
Additions 446,130
Transfer to ownership (349,509 )
At 30 September 2023 1,230,879
DEPRECIATION
At 1 October 2022 434,010
Charge for year 135,428
Transfer to ownership (259,043 )
At 30 September 2023 310,395
NET BOOK VALUE
At 30 September 2023 920,484
At 30 September 2022 700,248

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 340,507 476,368
Amounts owed by group undertakings 1,548,972 1,048,104
1,889,479 1,524,472

Murdoch Mackenzie Construction Limited (Registered number: SC056894)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Hire purchase contracts 249,373 170,041
Trade creditors 106,696 161,494
Taxation and social security 100,647 104,729
Other creditors 228,354 222,904
685,070 659,168

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Hire purchase contracts 462,322 344,676
Amounts owed to group undertakings 440,230 440,230
902,552 784,906

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Hire purchase contracts 711,695 514,717

Hire purchase creditors are secured over the asset in to which they relate.

Advances from the factor are included within other creditors and secured over the company's debtor ledger. The directors have a limited personal guarantee for £25,000.

10. CONTINGENT LIABILITIES

Under the Value Added Tax Act 1994 all members of a VAT group are jointly and severally liable for any tax due. The group liability not reflected in the Financial Statements at 30 September 2023 was £4,759 (2022: £3,124).

As security for borrowing facilities within the group the bank holds an unlimited intercompany composite guarantee. The guarantee is supported by a bond and floating charge over the assets of the company.