Registered number
SC610565
Mackay Security Systems Limited
Filleted Accounts
29 October 2023
Mackay Security Systems Limited
Registered number: SC610565
Balance Sheet
as at 29 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 20,536 20,536
Current assets
Debtors 4 177,758 141,083
Cash at bank and in hand (14,420) (3,151)
163,338 137,932
Creditors: amounts falling due within one year 5 (140,812) (96,471)
Net current assets 22,526 41,461
Total assets less current liabilities 43,062 61,997
Creditors: amounts falling due after more than one year 6 (36,822) (59,795)
Net assets 6,240 2,202
Capital and reserves
Called up share capital 2 2
Profit and loss account 6,238 2,200
Shareholders' funds 6,240 2,202
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Calum Mackay
Director
Approved by the board on 29 October 2024
Mackay Security Systems Limited
Notes to the Accounts
for the year ended 29 October 2023
1 Accounting policies
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 2
3 Tangible fixed assets
Motor vehicles
£
Cost
At 30 October 2022 20,536
At 29 October 2023 20,536
Depreciation
At 29 October 2023 -
Net book value
At 29 October 2023 20,536
At 29 October 2022 20,536
4 Debtors 2023 2022
£ £
Trade debtors 27,451 43,663
Other debtors 150,307 97,420
177,758 141,083
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 70,183 65,648
Taxation and social security costs 28,507 8,701
Other creditors 42,122 22,122
140,812 96,471
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 36,822 59,795
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