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MACKAY JOINERS LIMITED

Registered Number
SC594785
(Scotland)

Unaudited Financial Statements for the Year ended
30 April 2023

MACKAY JOINERS LIMITED
Company Information
for the year from 1 May 2022 to 30 April 2023

Directors

MACKAY, Aidan
MACKAY, Andrew
MACKAY, Emma
MACKAY, John

Registered Address

Bishopton House
78 Greenock Road
Bishopton
PA7 5RT

Registered Number

SC594785 (Scotland)
MACKAY JOINERS LIMITED
Balance Sheet as at
30 April 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets313,21715,259
13,21715,259
Current assets
Debtors4210,348312,080
Cash at bank and on hand30,61615,360
240,964327,440
Creditors amounts falling due within one year5(150,540)(188,491)
Net current assets (liabilities)90,424138,949
Total assets less current liabilities103,641154,208
Creditors amounts falling due after one year6(103,060)(139,934)
Net assets58114,274
Capital and reserves
Called up share capital200200
Profit and loss account38114,074
Shareholders' funds58114,274
The financial statements were approved and authorised for issue by the Board of Directors on 14 October 2024, and are signed on its behalf by:
MACKAY, John
Director
Registered Company No. SC594785
MACKAY JOINERS LIMITED
Notes to the Financial Statements
for the year ended 30 April 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Government grants or assistance
Grants are recognised in the profit and loss account so as to match them with the expenditure towards which they are intended to contribute.
2.Average number of employees

20232022
Average number of employees during the year88
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 May 2214,0004,04418,044
Additions-2,1812,181
At 30 April 2314,0006,22520,225
Depreciation and impairment
At 01 May 221,4581,3272,785
Charge for year3,1361,0874,223
At 30 April 234,5942,4147,008
Net book value
At 30 April 239,4063,81113,217
At 30 April 2212,5422,71715,259
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables91,035255,766
Other debtors119,31356,314
Total210,348312,080
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables19,98023,199
Bank borrowings and overdrafts35,91435,800
Taxation and social security90,14088,867
Finance lease and HP contracts2,8002,800
Other creditors1,70637,825
Total150,540188,491
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts95,827129,901
Other creditors7,23310,033
Total103,060139,934
7.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts7,23310,033