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REGISTERED NUMBER: SC318371 (Scotland)















MC Formwork Ltd.

Financial Statements For The Year Ended 31 March 2024






MC Formwork Ltd. (Registered number: SC318371)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MC Formwork Ltd.

Company Information
For The Year Ended 31 March 2024







DIRECTORS: Ms V Coombs
K M MacKenzie



SECRETARY: Ms V Coombs



REGISTERED OFFICE: 1st Floor
Robertson House
Shore Street
Inverness
Highland
IV1 1NF



REGISTERED NUMBER: SC318371 (Scotland)



ACCOUNTANTS: The Long Partnership
1st Floor
Robertson House
Shore Street
Inverness
Highland
IV1 1NF



BANKERS: Royal Bank Of Scotland
High Street
Dingwall
Ross-shire
IV15 9HF

MC Formwork Ltd. (Registered number: SC318371)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 52,093 32,438

CURRENT ASSETS
Stocks 3,100 3,360
Debtors 5 12,527 18,478
Cash at bank 39,501 55,745
55,128 77,583
CREDITORS
Amounts falling due within one year 6 48,692 48,121
NET CURRENT ASSETS 6,436 29,462
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,529

61,900

PROVISIONS FOR LIABILITIES 9,089 6,163
NET ASSETS 49,440 55,737

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 8 49,438 55,735
SHAREHOLDERS' FUNDS 49,440 55,737

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

MC Formwork Ltd. (Registered number: SC318371)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:





K M MacKenzie - Director


MC Formwork Ltd. (Registered number: SC318371)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

MC Formwork Ltd. 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 its estimated useful life.
Equipment - 15% on reducing balance
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MC Formwork Ltd. (Registered number: SC318371)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Motor
Equipment vehicles Totals
£    £    £   
COST
At 1 April 2023 34,937 52,184 87,121
Additions 5,699 36,000 41,699
Disposals (3,594 ) (46,988 ) (50,582 )
At 31 March 2024 37,042 41,196 78,238
DEPRECIATION
At 1 April 2023 20,806 33,877 54,683
Charge for year 2,332 5,833 8,165
Eliminated on disposal (2,791 ) (33,912 ) (36,703 )
At 31 March 2024 20,347 5,798 26,145
NET BOOK VALUE
At 31 March 2024 16,695 35,398 52,093
At 31 March 2023 14,131 18,307 32,438

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 7,201 16,697
Other debtors 5,326 1,781
12,527 18,478

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 1,703 811
Tax 1,613 892
Sundry creditors 3,138 4,080
Directors' current accounts 41,037 41,037
Accrued expenses 1,201 1,301
48,692 48,121

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary £1 2 2

MC Formwork Ltd. (Registered number: SC318371)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

8. RESERVES
Retained
earnings
£   

At 1 April 2023 55,735
Profit for the year 23,703
Dividends (30,000 )
At 31 March 2024 49,438