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REGISTERED NUMBER: SC447472 (Scotland)















Unaudited Financial Statements for the Year Ended 31st October 2023

for

Mackenzie Law Ltd

Mackenzie Law Ltd (Registered number: SC447472)

Contents of the Financial Statements
for the year ended 31st October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mackenzie Law Ltd

Company Information
for the year ended 31st October 2023







Director: D Mackenzie





Registered office: 2nd Floor
Highland Rail House
Station Square
Inverness
IV1 1LE





Registered number: SC447472 (Scotland)





Accountants: Frame Kennedy
4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT

Mackenzie Law Ltd (Registered number: SC447472)

Balance Sheet
31st October 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 76,527 68,821
76,527 68,821

Current assets
Work in progress 3,823 4,776
Debtors 6 424,041 336,766
Cash at bank and in hand 44,344 72,049
472,208 413,591
Creditors
Amounts falling due within one year 7 155,379 122,265
Net current assets 316,829 291,326
Total assets less current liabilities 393,356 360,147

Provisions for liabilities 3,626 4,011
Net assets 389,730 356,136

Capital and reserves
Called up share capital 1 1
Retained earnings 389,729 356,135
389,730 356,136

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

Mackenzie Law Ltd (Registered number: SC447472)

Balance Sheet - continued
31st October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30th October 2024 and were signed by:





D Mackenzie - Director


Mackenzie Law Ltd (Registered number: SC447472)

Notes to the Financial Statements
for the year ended 31st October 2023


1. Statutory information

Mackenzie Law Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance and not provided
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing work in progress to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Mackenzie Law Ltd (Registered number: SC447472)

Notes to the Financial Statements - continued
for the year ended 31st October 2023


2. Accounting policies - continued
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.

Pension costs and other post-retirement benefits
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.

Fair value
Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm's length transaction.

3. Employees and directors

The average number of employees during the year was 5 (2022 - 6 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1st November 2022
and 31st October 2023 415,000
Amortisation
At 1st November 2022
and 31st October 2023 415,000
Net book value
At 31st October 2023 -
At 31st October 2022 -

Mackenzie Law Ltd (Registered number: SC447472)

Notes to the Financial Statements - continued
for the year ended 31st October 2023


5. Tangible fixed assets
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
Cost
At 1st November 2022 46,790 40,825 35,415 123,030
Additions 12,532 - - 12,532
At 31st October 2023 59,322 40,825 35,415 135,562
Depreciation
At 1st November 2022 - 27,199 27,010 54,209
Charge for year - 2,725 2,101 4,826
At 31st October 2023 - 29,924 29,111 59,035
Net book value
At 31st October 2023 59,322 10,901 6,304 76,527
At 31st October 2022 46,790 13,626 8,405 68,821

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 134,654 123,920
Other debtors 289,387 212,846
424,041 336,766

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 680 370
Taxation and social security 147,656 113,814
Other creditors 7,043 8,081
155,379 122,265

Mackenzie Law Ltd (Registered number: SC447472)

Notes to the Financial Statements - continued
for the year ended 31st October 2023


8. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31st October 2023 and 31st October 2022:

2023 2022
£    £   
D Mackenzie
Balance outstanding at start of year 150,864 166,014
Amounts advanced 143,185 107,050
Amounts repaid (86,084 ) (122,200 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 207,965 150,864