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REGISTERED NUMBER: SC160655 (Scotland)















Financial Statements for the Year Ended 30 June 2024

for

JOHN MACKIE AUTOMATIC TRANSMISSIONS
LIMITED

JOHN MACKIE AUTOMATIC TRANSMISSIONS
LIMITED (REGISTERED NUMBER: SC160655)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

JOHN MACKIE AUTOMATIC TRANSMISSIONS
LIMITED

Company Information
for the Year Ended 30 June 2024







DIRECTORS: J W H Mackie
Mrs L J Mackie





SECRETARY: Mrs K Brown





REGISTERED OFFICE: 95 Causewayside Street
Tollcross
Glasgow
G32 8LT





REGISTERED NUMBER: SC160655 (Scotland)





ACCOUNTANTS: G O Thomson & Co
Chartered Accountants
13 Hope Street
Lanark
ML11 7NL

JOHN MACKIE AUTOMATIC TRANSMISSIONS
LIMITED (REGISTERED NUMBER: SC160655)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 177,908 196,980

CURRENT ASSETS
Stocks 154,997 178,465
Debtors 5 226,146 158,396
Cash at bank and in hand 131,525 309
512,668 337,170
CREDITORS
Amounts falling due within one year 6 308,100 204,581
NET CURRENT ASSETS 204,568 132,589
TOTAL ASSETS LESS CURRENT
LIABILITIES

382,476

329,569

CREDITORS
Amounts falling due after more than one
year

7

(74,484

)

(134,140

)

PROVISIONS FOR LIABILITIES (38,354 ) -
NET ASSETS 269,638 195,429

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 264,638 190,429
SHAREHOLDERS' FUNDS 269,638 195,429

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

JOHN MACKIE AUTOMATIC TRANSMISSIONS
LIMITED (REGISTERED NUMBER: SC160655)

Balance Sheet - continued
30 June 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 18 December 2024 and were signed on its behalf by:





J W H Mackie - Director


JOHN MACKIE AUTOMATIC TRANSMISSIONS
LIMITED (REGISTERED NUMBER: SC160655)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

John Mackie Automatic Transmissions 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor 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.

JOHN MACKIE AUTOMATIC TRANSMISSIONS
LIMITED (REGISTERED NUMBER: SC160655)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 22 (2023 - 23 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 34,328 430,618 48,774 78,730 592,450
Additions - 3,355 333 4,155 7,843
Disposals - - (628 ) (1,250 ) (1,878 )
At 30 June 2024 34,328 433,973 48,479 81,635 598,415
DEPRECIATION
At 1 July 2023 30,091 289,150 28,122 48,107 395,470
Charge for year 1,353 14,482 2,081 8,652 26,568
Eliminated on disposal - - (448 ) (1,083 ) (1,531 )
At 30 June 2024 31,444 303,632 29,755 55,676 420,507
NET BOOK VALUE
At 30 June 2024 2,884 130,341 18,724 25,959 177,908
At 30 June 2023 4,237 141,468 20,652 30,623 196,980

JOHN MACKIE AUTOMATIC TRANSMISSIONS
LIMITED (REGISTERED NUMBER: SC160655)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2023 67,998 57,395 125,393
Transfer to ownership (67,998 ) - (67,998 )
At 30 June 2024 - 57,395 57,395
DEPRECIATION
At 1 July 2023 34,076 33,182 67,258
Charge for year - 6,053 6,053
Transfer to ownership (34,076 ) - (34,076 )
At 30 June 2024 - 39,235 39,235
NET BOOK VALUE
At 30 June 2024 - 18,160 18,160
At 30 June 2023 33,922 24,213 58,135

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 205,785 137,793
Other debtors 1,519 1,500
Prepayments 18,842 19,103
226,146 158,396

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 2,361
Hire purchase contracts 11,320 12,979
Trade creditors 167,738 108,117
Tax 23,158 19
Social security and other taxes 27,576 22,737
VAT 43,974 37,931
Other creditors 6,651 -
Directors' current accounts 352 97
Accrued expenses 27,331 20,340
308,100 204,581

JOHN MACKIE AUTOMATIC TRANSMISSIONS
LIMITED (REGISTERED NUMBER: SC160655)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Loan - 1-2 years 49,737 49,737
Loan - 2-5 years 21,917 71,912
Hire purchase contracts 2,830 12,491
74,484 134,140

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J W H Mackie.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
John Mackie Automatic Transmissions
Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of John Mackie Automatic Transmissions Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of John Mackie Automatic Transmissions Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of John Mackie Automatic Transmissions Limited and state those matters that we have agreed to state to the Board of Directors of John Mackie Automatic Transmissions Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that John Mackie Automatic Transmissions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of John Mackie Automatic Transmissions Limited. You consider that John Mackie Automatic Transmissions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of John Mackie Automatic Transmissions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






G O Thomson & Co
Chartered Accountants
13 Hope Street
Lanark
ML11 7NL


18 December 2024