Company Registration No. SC184480 (Scotland)
Isle of Muck Power Limited
Unaudited accounts
for the year ended 31 July 2024
Isle of Muck Power Limited
Unaudited accounts
Contents
Isle of Muck Power Limited
Company Information
for the year ended 31 July 2024
Directors
Ewen Christopher MacEwen
Colin Alasdair Traquar MacEwen
Tobias Fichtner Irvine
Secretary
Ewen Christopher MacEwen
Company Number
SC184480 (Scotland)
Registered Office
Port Mor House
Port Mor
Isle of Muck, Mallaig
INVERNESS-SHIRE
PH41 2RP
UK
Accountants
Sarah Kennedy
Nevis Accountancy Services Limited
Office 6, An Drochaid, Claggan Road
Claggan, Fort William
Inverness-shire
PH33 6PH
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Isle of Muck Power Limited
for the year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Isle of Muck Power Limited for the year ended
31 July 2024 as set out on pages
5 -
7 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 https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of Isle of Muck Power Limited, as a body, in accordance with the terms of our engagement letter dated 14 August 2019. Our work has been undertaken solely to prepare for your approval the accounts of Isle of Muck Power Limited and state those matters that we have agreed to state to the Board of Directors of Isle of Muck Power Limited, 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/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Isle of Muck Power Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Isle of Muck Power Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Isle of Muck Power Limited. You consider that Isle of Muck Power 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 accounts of Isle of Muck Power 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 accounts.
Sarah Kennedy
Chartered Certified Accountants
Nevis Accountancy Services Limited
Office 6, An Drochaid, Claggan Road
Claggan, Fort William
Inverness-shire
PH33 6PH
30 September 2024
Isle of Muck Power Limited
Statement of financial position
as at 31 July 2024
Cash at bank and in hand
96,890
129,749
Creditors: amounts falling due within one year
(130,907)
(134,402)
Net current liabilities
(24,868)
(989)
Net liabilities
(24,868)
(989)
Called up share capital
16
16
Profit and loss account
(24,884)
(1,005)
Shareholders' funds
(24,868)
(989)
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by
Ewen Christopher MacEwen
Director
Company Registration No. SC184480
Isle of Muck Power Limited
Notes to the Accounts
for the year ended 31 July 2024
Isle of Muck Power Limited is a private company, limited by shares, registered in Scotland, registration number SC184480. The registered office is Port Mor House, Port Mor, Isle of Muck, Mallaig, INVERNESS-SHIRE, PH41 2RP, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
4
Tangible fixed assets
Plant & machinery
Amounts falling due within one year
Accrued income and prepayments
5,876
-
Isle of Muck Power Limited
Notes to the Accounts
for the year ended 31 July 2024
6
Creditors: amounts falling due within one year
2024
2023
Amounts owed to group undertakings and other participating interests
130,504
133,887
Allotted, called up and fully paid:
16 Ordinary shares of £1 each
16
16
8
Transactions with related parties
Isle of Muck Power Limited operates under a licence granted to the company by Isle of Muck Community Enterprise Limited which owns 16 shares representing 100% of the Issued Share Capital.
Administrative costs include £Nil (2023- £22,362) donations made under Gift Aid to the Isle of Muck Community Enterprise Limited due to a loss being suffered in this Y/E 31/07/24.
At the year end Isle of Muck Power Limited owed Isle of Muck Community Enterprise Limited £130,504 (2023 - £133,889).
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).