REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
FOR |
ARCHIBALD MACINNES AND COMPANY LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
FOR |
ARCHIBALD MACINNES AND COMPANY LIMITED |
ARCHIBALD MACINNES AND COMPANY LIMITED (REGISTERED NUMBER: SC031316) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ARCHIBALD MACINNES AND COMPANY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 5 APRIL 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
213 St Vincent Street |
Glasgow |
G2 5QY |
BANKERS: |
7 Main Street |
Cleland |
LANARKSHIRE |
ML1 5QW |
SOLICITORS: |
32 Muir Street |
Hamilton |
ML3 6EU |
ARCHIBALD MACINNES AND COMPANY LIMITED (REGISTERED NUMBER: SC031316) |
BALANCE SHEET |
5 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve |
Capital redemption reserve |
Other reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
ARCHIBALD MACINNES AND COMPANY LIMITED (REGISTERED NUMBER: SC031316) |
BALANCE SHEET - continued |
5 APRIL 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
ARCHIBALD MACINNES AND COMPANY LIMITED (REGISTERED NUMBER: SC031316) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
1. | STATUTORY INFORMATION |
Archibald MacInnes and Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Fixtures and fittings | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include certain debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including certain creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
ARCHIBALD MACINNES AND COMPANY LIMITED (REGISTERED NUMBER: SC031316) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 6 April 2023 |
and 5 April 2024 |
DEPRECIATION |
At 6 April 2023 |
Charge for year |
At 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 5 April 2023 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 6 April 2023 |
Additions |
Disposals | ( |
) |
Revaluations | ( |
) |
At 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 5 April 2023 |
Cost or valuation at 5 April 2024 is represented by: |
Other |
investments |
£ |
Valuation in 2024 | 903,559 |
Fixed asset investments were valued at an open market basis on 5th April 2024 by Killik & Co |
ARCHIBALD MACINNES AND COMPANY LIMITED (REGISTERED NUMBER: SC031316) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2024 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 6 April 2023 |
and 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 5 April 2023 |
The directors consider that there has been no material change in the open market value of the investment properties. |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Directors' current accounts | 66 | 66 |
Accrued expenses |