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REGISTERED NUMBER: SC685911 (Scotland)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

MCKAY & INNES (PETERCULTER) LTD

MCKAY & INNES (PETERCULTER) LTD (REGISTERED NUMBER: SC685911)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MCKAY & INNES (PETERCULTER) LTD

Company Information
for the Year Ended 31 January 2024







DIRECTOR: J Mckay





REGISTERED OFFICE: 154 North Deeside Road
Peterculter
AB14 0UD





REGISTERED NUMBER: SC685911 (Scotland)






MCKAY & INNES (PETERCULTER) LTD (REGISTERED NUMBER: SC685911)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,161 12,824

CURRENT ASSETS
Debtors 5 54,063 59,361
Cash at bank 166,789 177,079
220,852 236,440
CREDITORS
Amounts falling due within one year 6 132,102 182,300
NET CURRENT ASSETS 88,750 54,140
TOTAL ASSETS LESS CURRENT
LIABILITIES

98,911

66,964

PROVISIONS FOR LIABILITIES 1,931 3,206
NET ASSETS 96,980 63,758

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 96,880 63,658
96,980 63,758

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

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

The director acknowledges her 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.

MCKAY & INNES (PETERCULTER) LTD (REGISTERED NUMBER: SC685911)

Balance Sheet - continued
31 January 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 director and authorised for issue on 3 December 2024 and were signed by:





J Mckay - Director


MCKAY & INNES (PETERCULTER) LTD (REGISTERED NUMBER: SC685911)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

Mckay & Innes (Peterculter) 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 over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 33% on cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 ) .

MCKAY & INNES (PETERCULTER) LTD (REGISTERED NUMBER: SC685911)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 18,759
DEPRECIATION
At 1 February 2023 5,935
Charge for year 2,663
At 31 January 2024 8,598
NET BOOK VALUE
At 31 January 2024 10,161
At 31 January 2023 12,824

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,790 9,361
Other debtors 50,273 50,000
54,063 59,361

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 5,057 20,107
Other creditors 127,045 162,193
132,102 182,300

7. ULTIMATE CONTROLLING PARTY

The controlling party is J Mckay.