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Registration number: SC654044

MacAlpine Shine Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 29 February 2024

 

MacAlpine Shine Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account and Statement of Retained Earnings

4

Abridged Balance Sheet

5

Notes to the Unaudited Abridged Financial Statements

6 to 10

 

MacAlpine Shine Ltd

Company Information

Directors

Mrs Kelly-Ann MacAlpine

Mr David Alfons MacAlpine

Registered office

Back O'Hill Road Industrial Estate
Stirling
FK8 1SH

Accountants

Tayler Morgan Ltd
3 Larch Street
Grangemouth
Falkirk
FK3 8PG

 

MacAlpine Shine Ltd

Directors' Report for the Year Ended 29 February 2024

The directors present their report and the abridged financial statements for the year ended 29 February 2024.

Directors of the company

The directors who held office during the year were as follows:

Mrs Kelly-Ann MacAlpine

Mr David Alfons MacAlpine

Principal activity

The principal activity of the company is valeting.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 2 October 2024 and signed on its behalf by:
 

.........................................
Mrs Kelly-Ann MacAlpine
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
MacAlpine Shine Ltd
for the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MacAlpine Shine Ltd for the year ended 29 February 2024 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of MacAlpine Shine Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of MacAlpine Shine Ltd and state those matters that we have agreed to state to the Board of Directors of MacAlpine Shine Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MacAlpine Shine Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that MacAlpine Shine Ltd 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 MacAlpine Shine Ltd. You consider that MacAlpine Shine 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 accounts of MacAlpine Shine 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 accounts.


Tayler Morgan Ltd
3 Larch Street
Grangemouth
Falkirk
FK3 8PG

 

MacAlpine Shine Ltd

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 29 February 2024

Note

2024
£

2023
£

Turnover

 

22,754

49,218

Cost of sales

 

(11,436)

(25,197)

Gross profit

 

11,318

24,021

Administrative expenses

 

(14,403)

(32,888)

Operating loss

 

(3,085)

(8,867)

Loss before tax

4

(3,085)

(8,867)

Taxation

 

-

1,560

Loss for the financial year

 

(3,085)

(7,307)

Retained earnings brought forward

 

(19)

7,288

Retained earnings carried forward

 

(3,104)

(19)

 

MacAlpine Shine Ltd

(Registration number: SC654044)
Abridged Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

-

811

Current assets

 

Stocks

6

-

9,457

Debtors

-

1,818

Cash at bank and in hand

 

-

286

 

-

11,561

Creditors: Amounts falling due within one year

(3,102)

(12,389)

Net current liabilities

 

(3,102)

(828)

Net liabilities

 

(3,102)

(17)

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(3,104)

(19)

Shareholders' deficit

 

(3,102)

(17)

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 2 October 2024 and signed on its behalf by:
 

.........................................
Mrs Kelly-Ann MacAlpine
Director

 

MacAlpine Shine Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Back O'Hill Road Industrial Estate
Stirling
FK8 1SH
Scotland

These financial statements were authorised for issue by the Board on 2 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

MacAlpine Shine Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

MacAlpine Shine Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

-

270

 

MacAlpine Shine Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024 (continued)

5

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 March 2023

1,559

1,559

Disposals

(1,559)

(1,559)

At 29 February 2024

-

-

Depreciation

At 1 March 2023

748

748

Eliminated on disposal

(748)

(748)

At 29 February 2024

-

-

Carrying amount

At 29 February 2024

-

-

At 28 February 2023

811

811

6

Stocks

2024
£

2023
£

Other inventories

-

9,457

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

8

Related party transactions

 

MacAlpine Shine Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024 (continued)

8

Related party transactions (continued)

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

349

14,287