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REGISTERED NUMBER: SC238916 (Scotland)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MCKENZIE QUALITY PRINT LIMITED

MCKENZIE QUALITY PRINT LIMITED (REGISTERED NUMBER: SC238916)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7

Chartered Accountants' Report 8

MCKENZIE QUALITY PRINT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr S McKenzie





SECRETARY: Mrs D McKenzie





REGISTERED OFFICE: Unit 12 Wellheads Crescent
Wellheads Industrial Estate
Dyce
ABERDEEN
AB21 7GA





REGISTERED NUMBER: SC238916 (Scotland)





ACCOUNTANTS: Bain Henry Reid
Chartered Accountants
4 West Craibstone Street
Bon-Accord Square
ABERDEEN
AB11 6YL

MCKENZIE QUALITY PRINT LIMITED (REGISTERED NUMBER: SC238916)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 34,475 50,955
34,475 50,955

CURRENT ASSETS
Stocks 2,000 2,000
Debtors 6 257,569 242,658
Cash at bank 486,253 496,392
745,822 741,050
CREDITORS
Amounts falling due within one year 7 127,007 117,942
NET CURRENT ASSETS 618,815 623,108
TOTAL ASSETS LESS CURRENT
LIABILITIES

653,290

674,063

CREDITORS
Amounts falling due after more than one year 8 (26,529 ) (42,505 )

PROVISIONS FOR LIABILITIES (7,694 ) (8,824 )
NET ASSETS 619,067 622,734

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 618,967 622,634
SHAREHOLDERS' FUNDS 619,067 622,734

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MCKENZIE QUALITY PRINT LIMITED (REGISTERED NUMBER: SC238916)

BALANCE SHEET - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2024 and were signed by:





Mr S McKenzie - Director


MCKENZIE QUALITY PRINT LIMITED (REGISTERED NUMBER: SC238916)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

McKenzie Quality Print 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.

Significant judgements and estimates
Management has considered the consequences of COVID-19 and other events and conditions and has determined that they do not create a material uncertainty that casts significant doubt upon the entity's ability to continue as a going concern. It expects that COVID-19 might have some impact, though not significant, for example, in relation to expected future performance, or the effects on some future asset valuations.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover includes revenue earned from the sale of goods.

Sale of goods
Turnover from the sale of goods is recognised when the goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Intangible assets
Acquired goodwill is capitalised and written off in equal annual instalments over its estimated useful economic life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 25% on cost
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell.

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.

MCKENZIE QUALITY PRINT LIMITED (REGISTERED NUMBER: SC238916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Pensions
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.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 65,000
AMORTISATION
At 1 January 2023
and 31 December 2023 65,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 35,169 386,701 - 149,735 571,605
Additions - 847 2,350 - 3,197
At 31 December 2023 35,169 387,548 2,350 149,735 574,802
DEPRECIATION
At 1 January 2023 35,169 365,011 - 120,470 520,650
Charge for year - 9,347 390 9,940 19,677
At 31 December 2023 35,169 374,358 390 130,410 540,327
NET BOOK VALUE
At 31 December 2023 - 13,190 1,960 19,325 34,475
At 31 December 2022 - 21,690 - 29,265 50,955

MCKENZIE QUALITY PRINT LIMITED (REGISTERED NUMBER: SC238916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 33,125
DEPRECIATION
At 1 January 2023 5,520
Charge for year 8,280
At 31 December 2023 13,800
NET BOOK VALUE
At 31 December 2023 19,325
At 31 December 2022 27,605

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 168,360 151,214
Other debtors 89,209 91,444
257,569 242,658

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 5,976 5,648
Trade creditors 50,337 40,762
Taxation and social security 48,911 52,943
Other creditors 11,783 8,589
127,007 117,942

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 17,500 27,500
Hire purchase contracts 9,029 15,005
26,529 42,505

MCKENZIE QUALITY PRINT LIMITED (REGISTERED NUMBER: SC238916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 15,005 20,653

Net obligations under hire purchase contracts are secured on the assets acquired.

The bank loan is guaranteed by the UK Government Bounce Back Loan Scheme.

10. OTHER FINANCIAL COMMITMENTS

Operating Leases

At 31 December 2023 the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £19,000 (2022: £19,000).


Pension Commitments

Amounts outstanding at the year end relating to the defined contribution pension scheme totalled £604 (2022: £584).

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MCKENZIE QUALITY PRINT LIMITED


The following reproduces the text of the report prepared for the director 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 Director 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 McKenzie Quality Print Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of McKenzie Quality Print Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of McKenzie Quality Print Limited and state those matters that we have agreed to state to the director of McKenzie Quality Print Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that McKenzie Quality Print Limited 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 McKenzie Quality Print Limited. You consider that McKenzie Quality Print Limited 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 McKenzie Quality Print Limited. 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.






Bain Henry Reid
Chartered Accountants
4 West Craibstone Street
Bon-Accord Square
ABERDEEN
AB11 6YL


25 September 2024