Company Registration No. SC587793 (Scotland)
McKinnon & Co Ltd
Unaudited accounts
for the year ended 29 February 2024
McKinnon & Co Ltd
Unaudited accounts
Contents
McKinnon & Co Ltd
Company Information
for the year ended 29 February 2024
Director
Michelle McKinnon
Company Number
SC587793 (Scotland)
Registered Office
33 NEWMARKET STREET
AYR
KA7 1LP
SCOTLAND
Accountants
McKinnon & Co Ltd ACPA
33 Newmarket Street
Ayr
Ayrshire
KA7 1LL
McKinnon & Co Ltd
Statement of financial position
as at 29 February 2024
Intangible assets
150,000
150,000
Tangible assets
17,738
1,259
Cash at bank and in hand
73,358
-
Creditors: amounts falling due within one year
(143,209)
(129,933)
Net current liabilities
(15,531)
(27,728)
Total assets less current liabilities
152,207
123,531
Creditors: amounts falling due after more than one year
(145,068)
(145,068)
Net assets/(liabilities)
7,139
(21,537)
Called up share capital
100
100
Profit and loss account
7,039
(21,637)
Shareholders' funds
7,139
(21,537)
For the year ending 29 February 2024 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 29 November 2024 and were signed on its behalf by
Michelle McKinnon
Director
Company Registration No. SC587793
McKinnon & Co Ltd
Notes to the Accounts
for the year ended 29 February 2024
McKinnon & Co Ltd is a private company, limited by shares, registered in Scotland, registration number SC587793. The registered office is 33 NEWMARKET STREET, AYR, KA7 1LP, SCOTLAND.
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 accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% reducing
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
At 29 February 2024
150,000
At 29 February 2024
150,000
At 28 February 2023
150,000
McKinnon & Co Ltd
Notes to the Accounts
for the year ended 29 February 2024
5
Tangible fixed assets
Computer equipment
At 29 February 2024
21,250
At 29 February 2024
17,738
Amounts falling due within one year
Trade debtors
54,320
74,600
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
32,085
54,804
Taxes and social security
2,861
-
Loans from directors
64,541
49,500
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
145,068
145,068
9
Average number of employees
During the year the average number of employees was 6 (2023: 6).