Company Registration No. SC333728 (Scotland)
Marchmont Homes Limited
Unaudited accounts
for the year ended 30 November 2020
Marchmont Homes Limited
Unaudited accounts
Contents
Marchmont Homes Limited
Company Information
for the year ended 30 November 2020
Company Number
SC333728 (Scotland)
Registered Office
C/o CMM Accountancy
The Green House
Beechwood Business Park North
Inverness
IV2 3BL
Accountants
CMM Accountancy (Inverness) Limited
The Green House
Beechwood Business Park North
Inverness
IV2 3BL
Marchmont Homes Limited
Statement of financial position
as at 30 November 2020
Tangible assets
550,000
550,000
Cash at bank and in hand
26,962
114,465
Creditors: amounts falling due within one year
(116,230)
(119,818)
Net current assets
159,364
185,866
Net assets
709,364
735,866
Called up share capital
262,000
262,000
Profit and loss account
447,364
473,866
Shareholders' funds
709,364
735,866
For the year ending 30 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 November 2024 and were signed on its behalf by
A Mackay
Director
Company Registration No. SC333728
Marchmont Homes Limited
Notes to the Accounts
for the year ended 30 November 2020
Marchmont Homes Limited is a private company, limited by shares, registered in Scotland, registration number SC333728. The registered office is C/o CMM Accountancy, The Green House, Beechwood Business Park North, Inverness, IV2 3BL. The company is in the process of being wound up.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The directors of the company have determined that it would not be appropriate for the accounts to be prepared on a going concern basis as a result of the company's trade ceasing during the year. These accounts have been prepared using the break up basis.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
The company assets have been valued and restated at their fair value.
Fair values have been determined by professional valuations to bring the company's assets to market.
Intangible fixed assets (including purchased goodwill and patents) are included at their fair value.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Marchmont Homes Limited
Notes to the Accounts
for the year ended 30 November 2020
The company ceased trading during November 2019 and the sole director died during September 2020. A new director was appointed in June 2024 and is taking steps to wind the company up. As part of this process the company's assets have been restated to their expected realisable value.
4
Intangible fixed assets
Total
At 1 December 2019
355,000
At 30 November 2020
355,000
At 1 December 2019
355,000
At 30 November 2020
355,000
5
Tangible fixed assets
Total
At 1 December 2019
550,000
At 30 November 2020
550,000
At 30 November 2020
550,000
At 30 November 2019
550,000
Included in other debtors is a loan to the estate of the late director E Mackay of £191,728 (2019 - £142,465). The loan has no fixed term of repayment and is unsecured.
7
Average number of employees
During the year the average number of employees was 0 (2019: 31).