1 December 2018 false No description of principal activity Taxfiler 2024.6 true SC333728business:PrivateLimitedCompanyLtd2018-12-012019-11-30 SC3337282018-11-30 SC3337282018-12-012019-11-30 SC333728business:AuditExemptWithAccountantsReport2018-12-012019-11-30 SC333728business:AbridgedAccounts2018-12-012019-11-30 SC3337282019-11-30 SC333728business:Director22018-12-012019-11-30 SC333728business:RegisteredOffice2018-12-012019-11-30 SC3337282018-11-30 SC333728core:WithinOneYear2019-11-30 SC333728core:WithinOneYear2018-11-30 SC333728core:AfterOneYear2019-11-30 SC333728core:AfterOneYear2018-11-30 SC333728core:ShareCapitalcore:PreviouslyStatedAmount2019-11-30 SC333728core:ShareCapitalcore:PreviouslyStatedAmount2018-11-30 SC333728core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2019-11-30 SC333728core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2018-11-30 SC333728core:PreviouslyStatedAmount2019-11-30 SC333728core:PreviouslyStatedAmount2018-11-30 SC333728business:SmallEntities2018-12-012019-11-30 SC333728countries:Scotland2018-12-012019-11-30 SC3337282017-12-012018-11-30 iso4217:GBP xbrli:pure
Company Registration No. SC333728 (Scotland)
Marchmont Homes Limited Unaudited accounts for the year ended 30 November 2019
Marchmont Homes Limited Unaudited accounts Contents
Page
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Marchmont Homes Limited Company Information for the year ended 30 November 2019
Director
A Mackay
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
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Marchmont Homes Limited Statement of financial position as at 30 November 2019
2019 
2018 
Notes
£ 
£ 
Fixed assets
Intangible assets
- 
116,396 
Tangible assets
550,000 
942,849 
550,000 
1,059,245 
Current assets
Inventories
- 
1,282 
Debtors
191,219 
233,792 
Cash at bank and in hand
114,465 
186,785 
305,684 
421,859 
Creditors: amounts falling due within one year
(119,818)
(181,429)
Net current assets
185,866 
240,430 
Total assets less current liabilities
735,866 
1,299,675 
Creditors: amounts falling due after more than one year
- 
(424,306)
Provisions for liabilities
Deferred tax
- 
(15,858)
Net assets
735,866 
859,511 
Capital and reserves
Called up share capital
262,000 
262,000 
Profit and loss account
473,866 
597,511 
Shareholders' funds
735,866 
859,511 
For the year ending 30 November 2019 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
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Marchmont Homes Limited Notes to the Accounts for the year ended 30 November 2019
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
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
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
Intangible fixed assets (including purchased goodwill and patents) are included at their fair value.
Inventories
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 taxation
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.
Pension costs
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.
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Marchmont Homes Limited Notes to the Accounts for the year ended 30 November 2019
Going concern
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, resulting in the total write off of goodwill (creating a charge to the profit and loss account of £103,646) and the revaluation of the company's property (creating a charge to the profit and loss account of £136,745, offset by reversal of depreciation of £154,047).
4
Intangible fixed assets
Total 
£ 
Cost
At 1 December 2018
355,000 
At 30 November 2019
355,000 
Amortisation
At 1 December 2018
238,604 
Charge for the year
12,750 
Other increase/(decrease)
103,646 
At 30 November 2019
355,000 
Net book value
At 30 November 2019
- 
At 30 November 2018
116,396 
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 December 2018
1,364,454 
Additions
9,222 
Revaluations
(136,745)
Disposals
(686,931)
At 30 November 2019
550,000 
Depreciation
At 1 December 2018
421,605 
Charge for the year
28,593 
Surplus on revaluation
(154,047)
On disposals
(296,151)
At 30 November 2019
- 
Net book value
At 30 November 2019
550,000 
At 30 November 2018
942,849 
6
Loans to directors
Included in other debtors is a loan to the estate of the late director E Mackay of £142,465 (2018 - £202,869). 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 31 (2018: 33).
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