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REGISTERED NUMBER: SC240369 (Scotland)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

D McNair & Son Shipping Limited

D McNair & Son Shipping Limited (Registered number: SC240369)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


D McNair & Son Shipping Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A G Shaw
Mrs I E Shaw





SECRETARY: Mrs I E Shaw





REGISTERED OFFICE: 15 Kinloch Road
Campbeltown
ARGYLL
PA28 6EG





REGISTERED NUMBER: SC240369 (Scotland)





ACCOUNTANTS: Messrs. Henderson & Company
Chartered Accountants
73 Union Street
Greenock
PA16 8BG

D McNair & Son Shipping Limited (Registered number: SC240369)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 238,415 107,368
Cash at bank 785 193,263
239,200 300,631
CREDITORS
Amounts falling due within one year 5 9,973 9,973
NET CURRENT ASSETS 229,227 290,658
TOTAL ASSETS LESS CURRENT
LIABILITIES

229,227

290,658

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 229,127 290,558
229,227 290,658

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 May 2024 and were signed on its behalf by:





A G Shaw - Director


D McNair & Son Shipping Limited (Registered number: SC240369)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

D McNair & Son Shipping Limited 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.

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

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction cost, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

D McNair & Son Shipping Limited (Registered number: SC240369)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 238,415 107,368

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 8,623 8,623
Other creditors 1,350 1,350
9,973 9,973

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
A G Shaw
Balance outstanding at start of year - (4,610 )
Amounts advanced - 4,610
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mrs I E Shaw
Balance outstanding at start of year - (4,610 )
Amounts advanced - 4,610
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

7. RELATED PARTY DISCLOSURES

Included in Debtors is an amount of £237,089 (2022 £106,042) due by D McNair & Son Ltd., a company owned by AG and IE Shaw.