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REGISTERED NUMBER: SC470440 (Scotland)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Mac Carpets Limited

Mac Carpets Limited (Registered number: SC470440)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountant 5

Mac Carpets Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Mr D MacDonald



REGISTERED OFFICE: Unit 4
Station Road Ind Estate
Station Crescent
Renfrew
Renfrewshire
PA4 8RA



REGISTERED NUMBER: SC470440 (Scotland)



ACCOUNTANT: Braehead Accountants & Taxation Services Ltd
Unit 4
Station Road Ind Estate
Station Crescent
Renfrew
Renfrewshire
PA4 8RA



BANKERS: Barclays Bank Plc
1 Main Street
Leicester
Leicestershire
LE87 2BB

Mac Carpets Limited (Registered number: SC470440)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,599 11,465

CURRENT ASSETS
Stocks 7,150 5,530
Debtors 5 1,031 989
Cash at bank 2,767 3,411
10,948 9,930
CREDITORS
Amounts falling due within one year 6 14,698 14,020
NET CURRENT LIABILITIES (3,750 ) (4,090 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,849

7,375

CREDITORS
Amounts falling due after more than one
year

7

1,438

5,761
NET ASSETS 3,411 1,614

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,311 1,514
SHAREHOLDERS' FUNDS 3,411 1,614

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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 director and authorised for issue on 25 November 2024 and were signed by:





Mr D MacDonald - Director


Mac Carpets Limited (Registered number: SC470440)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Mac Carpets 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office Equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Mac Carpets Limited (Registered number: SC470440)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Office Motor
Equipment vehicles Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 3,000 37,625 40,625
DEPRECIATION
At 1 March 2023 2,494 26,666 29,160
Charge for year 126 2,740 2,866
At 29 February 2024 2,620 29,406 32,026
NET BOOK VALUE
At 29 February 2024 380 8,219 8,599
At 28 February 2023 506 10,959 11,465

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Sundry debtors 114 114
Prepayments 917 875
1,031 989

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 4,800 4,800
Trade creditors 2,175 3,529
Tax 754 2,338
Social security and other taxes 334 352
VAT 3,239 1,474
Directors' current accounts 1,996 127
Accrued expenses 1,400 1,400
14,698 14,020

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 1,438 5,761

Mac Carpets Limited

Report of the Accountant to the Director of
Mac Carpets Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 29 February 2024 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to me.






Braehead Accountants & Taxation Services Ltd
Unit 4
Station Road Ind Estate
Station Crescent
Renfrew
Renfrewshire
PA4 8RA


Date: .............................................