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REGISTERED NUMBER: SC694789 (Scotland)















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Macdonald & Fair Limited

Macdonald & Fair Limited (Registered number: SC694789)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Macdonald & Fair Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: C Fair
R E Macdonald





REGISTERED OFFICE: Burnbank Cottage Breadalbane Lane
Tobermory
Isle Of Mull
PA75 6QP





REGISTERED NUMBER: SC694789 (Scotland)





ACCOUNTANTS: KPP Glasgow South Ltd
Chartered Certified Accountants
Unit 3 , 37 Rosyth Road
Morris Park
Glasgow
G5 0YE

Macdonald & Fair Limited (Registered number: SC694789)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 41,407 21,407

CURRENT ASSETS
Stocks 5 1,689 481
Debtors 6 2,636 4,322
Cash at bank and in hand 29,621 54,234
33,946 59,037
CREDITORS
Amounts falling due within one year 7 44,640 64,916
NET CURRENT LIABILITIES (10,694 ) (5,879 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,713

15,528

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 30,711 15,526
SHAREHOLDERS' FUNDS 30,713 15,528

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

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

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 10 October 2024 and were signed on its behalf by:




C Fair - Director


Macdonald & Fair Limited (Registered number: SC694789)

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

1. STATUTORY INFORMATION

Macdonald & Fair 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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

Macdonald & Fair Limited (Registered number: SC694789)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 588 8,280 20,000 28,868
Additions - 15,775 15,069 30,844
At 30 April 2024 588 24,055 35,069 59,712
DEPRECIATION
At 1 May 2023 163 2,298 5,000 7,461
Charge for year 64 3,263 7,517 10,844
At 30 April 2024 227 5,561 12,517 18,305
NET BOOK VALUE
At 30 April 2024 361 18,494 22,552 41,407
At 30 April 2023 425 5,982 15,000 21,407

5. STOCKS
30.4.24 30.4.23
£    £   
Stocks 1,689 481

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 525 4,322
Prepayments 2,111 -
2,636 4,322

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 9,277 -
Trade creditors 3,798 465
Tax 11,783 8,432
Social security and other taxes (5,364 ) (2,624 )
VAT 5,933 40,138
Accrued expenses 19,213 18,505
44,640 64,916

Macdonald & Fair Limited (Registered number: SC694789)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
2 Ordinary Share Capital £1 2 2