Registered number
10658080
D&R MacRae Limited
Filleted Accounts
30 April 2024
D&R MacRae Limited
Registered number: 10658080
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 322,451 322,451
Current assets
Debtors 4 - 18,875
Cash at bank and in hand 130,124 223,879
130,124 242,754
Creditors: amounts falling due within one year 5 (331,654) (252,836)
Net current liabilities (201,530) (10,082)
Total assets less current liabilities 120,921 312,369
Creditors: amounts falling due after more than one year 6 (2,058) (145,284)
Provisions for liabilities (482) (482)
Net assets 118,381 166,603
Capital and reserves
Called up share capital 100 100
Profit and loss account 118,281 166,503
Shareholders' funds 118,381 166,603
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R MacRae
Director
Approved by the board on 22 January 2025
D&R MacRae Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 May 2023 100 322,351 322,451
At 30 April 2024 100 322,351 322,451
Historical cost
At 1 May 2023 100 322,351
At 30 April 2024 100 322,351
At 30 April 2024 the valuation of the investment property was reviewed by Mr D MacRae and Mr R MacRae, the directors of the company. Following the review they are satisfied that the current valuation represents the fair value of the investment property.
4 Debtors 2024 2023
£ £
Prepayments and accrued income - 18,875
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,026 7,892
Amounts owed to group undertakings and undertakings in which the company has a participating interest 199,761 104,076
Taxation and social security costs 5,982 8,244
Directors' loan account 114,050 124,943
Accruals and deferred income 835 795
Other creditors 10,000 6,886
331,654 252,836
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,058 145,284
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years - 109,447
Secured bank loans - 149,094
Security for the bank loan was given by means of a fixed and floating charge over the assets of the Company.
8 Related party transactions
The company qualifies for the exemption under FRS 102 to not disclose transactions between wholly owned group members.
9 Controlling party
By virtue of his shareholding in the company, Mr D MacRae is the controlling party.
10 Other information
D&R MacRae Limited is a private company limited by shares and incorporated in England. Its registered office is:
Bury Lodge
Bury Road
Stowmarket
Suffolk
IP14 1JA
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