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REGISTERED NUMBER: SC255780 (Scotland)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

James Mackie (Dundee) Limited

James Mackie (Dundee) Limited (Registered number: SC255780)






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


James Mackie (Dundee) Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mr F W Malcolm
Mrs S Malcolm





SECRETARY: Mrs S Malcolm





REGISTERED OFFICE: 1 Hillpark Road
Wormit
Newport on Tay
Fife
DD6 8PR





REGISTERED NUMBER: SC255780 (Scotland)





ACCOUNTANTS: Silvera Accounting Services
Valley View
Lochend
Scotlandwell
Kinross
Kinross-shire
KY13 9JQ

James Mackie (Dundee) Limited (Registered number: SC255780)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 301,979 112,537

CURRENT ASSETS
Debtors 5 238,501 31,782
Cash at bank 183,651 219,825
422,152 251,607
CREDITORS
Amounts falling due within one year 6 239,234 95,262
NET CURRENT ASSETS 182,918 156,345
TOTAL ASSETS LESS CURRENT
LIABILITIES

484,897

268,882

CREDITORS
Amounts falling due after more than one year 7 (77,354 ) (12,035 )

PROVISIONS FOR LIABILITIES (34,843 ) (19,314 )
NET ASSETS 372,700 237,533

CAPITAL AND RESERVES
Called up share capital 10 500 500
Capital redemption reserve 500 500
Retained earnings 371,700 236,533
SHAREHOLDERS' FUNDS 372,700 237,533

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 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.

James Mackie (Dundee) Limited (Registered number: SC255780)

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 Board of Directors and authorised for issue on 22 January 2025 and were signed on its behalf by:





Mr F W Malcolm - Director


James Mackie (Dundee) Limited (Registered number: SC255780)

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

1. STATUTORY INFORMATION

James Mackie (Dundee) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced and accrued procurement fees and sales of potatoes, excluding value added tax.

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.
Freehold property - not provided
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Impairment
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

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.

James Mackie (Dundee) Limited (Registered number: SC255780)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all the benefits and risks of ownership are assumed by the leasee. Obligations under such agreements are included in creditors net of finance charges allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a periodic rate of charge on the net obligation outstanding in each period.

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.

Financial instruments
Debtors and creditors with no stated interest rate and receivable/payable within one year are recorded at transaction price. These are reviewed at each balance sheet date for any impairment. Any losses arising from impairment are shown in the Income Statement.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement, and the amount can be reliably estimated.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Cost
At 1 February 2023 1,200 394 1,637
Additions 163,457 1,240 216
Disposals (6,252 ) - -
At 31 January 2024 158,405 1,634 1,853
Depreciation
At 1 February 2023 - 198 1,637
Charge for year - 409 54
Eliminated on disposal - - -
At 31 January 2024 - 607 1,691
Net book value
At 31 January 2024 158,405 1,027 162
At 31 January 2023 1,200 196 -

James Mackie (Dundee) Limited (Registered number: SC255780)

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

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 February 2023 128,237 50,367 181,835
Additions 101,816 5,549 272,278
Disposals (40,364 ) - (46,616 )
At 31 January 2024 189,689 55,916 407,497
Depreciation
At 1 February 2023 45,709 21,754 69,298
Charge for year 40,410 13,006 53,879
Eliminated on disposal (17,659 ) - (17,659 )
At 31 January 2024 68,460 34,760 105,518
Net book value
At 31 January 2024 121,229 21,156 301,979
At 31 January 2023 82,528 28,613 112,537

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 February 2023 31,284
Additions 101,816
At 31 January 2024 133,100
Depreciation
At 1 February 2023 13,687
Charge for year 29,853
At 31 January 2024 43,540
Net book value
At 31 January 2024 89,560
At 31 January 2023 17,597

.

James Mackie (Dundee) Limited (Registered number: SC255780)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 158,894 21,508
Other debtors 79,607 10,274
238,501 31,782

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 22,700 5,875
Trade creditors 137,076 21,403
Taxation and social security 68,755 56,063
Other creditors 10,703 11,921
239,234 95,262

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 73,416 4,160
Other creditors 3,938 7,875
77,354 12,035

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 22,700 5,875
Between one and five years 73,416 4,160
96,116 10,035

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 96,116 10,035

Hire purchase debts are secured against the assets to which the debt relates.

James Mackie (Dundee) Limited (Registered number: SC255780)

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

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
400 A Ordinary £1 400 400
100 C Ordinary £1 100 100
500 500

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
Mr F W Malcolm and Mrs S Malcolm
Balance outstanding at start of year 4,522 (15,924 )
Amounts advanced 77,371 90,144
Amounts repaid (19,792 ) (69,698 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 62,101 4,522

Interest is charged on the above loans at the official rate of interest as published by HMRC. There are no set repayment terms.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr F W Malcolm.