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REGISTERED NUMBER: SC376140 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Iain A Mackinnon Limited

Iain A Mackinnon Limited (Registered number: SC376140)






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


Iain A Mackinnon Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: I MacKinnon





SECRETARY:





REGISTERED OFFICE: Dunfoot Balephetrish
Scarinish
Isle of Tiree
Argyll
PA77 6UY





REGISTERED NUMBER: SC376140 (Scotland)





ACCOUNTANTS: Jean Ainsley. CA
Ainsley Smith & Co
Chartered Accountants
21 Argyll Square
Oban
Argyll
PA34 4AT

Iain A Mackinnon Limited (Registered number: SC376140)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,068 3,068
Tangible assets 5 743,182 588,796
746,250 591,864

CURRENT ASSETS
Stocks 12,000 12,000
Debtors 6 352,133 175,077
Cash at bank and in hand 161,388 284,776
525,521 471,853
CREDITORS
Amounts falling due within one year 7 67,714 42,700
NET CURRENT ASSETS 457,807 429,153
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,204,057

1,021,017

PROVISIONS FOR LIABILITIES 98,620 98,620
NET ASSETS 1,105,437 922,397

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,105,436 922,396
SHAREHOLDERS' FUNDS 1,105,437 922,397

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 director acknowledges his 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.

Iain A Mackinnon Limited (Registered number: SC376140)

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 director and authorised for issue on 4 December 2024 and were signed by:





I MacKinnon - Director


Iain A Mackinnon Limited (Registered number: SC376140)

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

1. STATUTORY INFORMATION

Iain A Mackinnon Limited 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

Iain A Mackinnon Limited (Registered number: SC376140)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 3,068
NET BOOK VALUE
At 31 March 2024 3,068
At 31 March 2023 3,068

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 1,451,481
Additions 385,561
Disposals (174,400 )
At 31 March 2024 1,662,642
DEPRECIATION
At 1 April 2023 862,685
Charge for year 134,687
Eliminated on disposal (77,912 )
At 31 March 2024 919,460
NET BOOK VALUE
At 31 March 2024 743,182
At 31 March 2023 588,796

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 329,414 161,353
Other debtors 22,719 13,724
352,133 175,077

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 28,666 12,508
Taxation and social security 19,357 10,712
Other creditors 19,691 19,480
67,714 42,700