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REGISTERED NUMBER: SC235838 (Scotland)















MACASKILL FUELS LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024






MACASKILL FUELS LIMITED (REGISTERED NUMBER: SC235838)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MACASKILL FUELS LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTOR: J R Macaskill





REGISTERED OFFICE: 26 Lewis Street
Stornoway
Isle of Lewis
HS1 2JF





REGISTERED NUMBER: SC235838 (Scotland)





ACCOUNTANTS: Mann Judd Gordon Ltd
Chartered Accountants
26 Lewis Street
Stornoway
Isle of Lewis
HS1 2JF

MACASKILL FUELS LIMITED (REGISTERED NUMBER: SC235838)

BALANCE SHEET
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 947,719 694,013

CURRENT ASSETS
Stocks 74,450 175,559
Debtors 6 137,455 136,368
Cash at bank 384,748 301,186
596,653 613,113
CREDITORS
Amounts falling due within one year 7 262,576 123,596
NET CURRENT ASSETS 334,077 489,517
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,281,796

1,183,530

CREDITORS
Amounts falling due after more than one year 8 (40,822 ) (36,706 )

PROVISIONS FOR LIABILITIES (48,871 ) (23,959 )
NET ASSETS 1,192,103 1,122,865

CAPITAL AND RESERVES
Called up share capital 20 20
Capital redemption reserve 40 40
Retained earnings 1,192,043 1,122,805
SHAREHOLDERS' FUNDS 1,192,103 1,122,865

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 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.

MACASKILL FUELS LIMITED (REGISTERED NUMBER: SC235838)

BALANCE SHEET - continued
30 April 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 January 2025 and were signed by:





J R Macaskill - Director


MACASKILL FUELS LIMITED (REGISTERED NUMBER: SC235838)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Macaskill Fuels 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 (£).


The financial statements are rounded to the nearest £1.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The area of the accounts where significant judgements and estimates are used is within fixed assets. Estimates are made of both the useful economic life of assets and of residual value attached to those assets which in turn determines the depreciation rates and charges in the accounts.

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.
Freehold property - not provided
Plant and machinery - 15% depreciation on reducing balance
Fixtures and fittings - 15% depreciation on reducing balance
Motor vehicles - 25% depreciation on reducing balance
Computer equipment - 20% depreciation on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

MACASKILL FUELS LIMITED (REGISTERED NUMBER: SC235838)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2023 571,083 66,287 2,352
Additions 173,260 44,640 -
At 30 April 2024 744,343 110,927 2,352
DEPRECIATION
At 1 May 2023 - 52,502 1,866
Charge for year - 3,446 121
At 30 April 2024 - 55,948 1,987
NET BOOK VALUE
At 30 April 2024 744,343 54,979 365
At 30 April 2023 571,083 13,785 486

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 356,579 6,052 1,002,353
Additions 64,850 - 282,750
At 30 April 2024 421,429 6,052 1,285,103
DEPRECIATION
At 1 May 2023 247,920 6,052 308,340
Charge for year 25,477 - 29,044
At 30 April 2024 273,397 6,052 337,384
NET BOOK VALUE
At 30 April 2024 148,032 - 947,719
At 30 April 2023 108,659 - 694,013

MACASKILL FUELS LIMITED (REGISTERED NUMBER: SC235838)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 May 2023 113,577
Additions 64,850
At 30 April 2024 178,427
DEPRECIATION
At 1 May 2023 36,810
Charge for year 20,387
At 30 April 2024 57,197
NET BOOK VALUE
At 30 April 2024 121,230
At 30 April 2023 76,767

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 37,513 52,358
Other debtors 99,942 84,010
137,455 136,368

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 11,346 11,346
Hire purchase contracts 30,016 26,507
Trade creditors 198,700 24,532
Taxation and social security 14,658 53,355
Other creditors 7,856 7,856
262,576 123,596

MACASKILL FUELS LIMITED (REGISTERED NUMBER: SC235838)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 14,433 24,410
Hire purchase contracts 26,389 12,296
40,822 36,706

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 25,779 35,756

The company has granted a bond and floating charge over its assets and a standard security over 14 Inaclete Road in favour of the Bank of Scotland.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
J R Macaskill
Balance outstanding at start of year - 32,415
Amounts repaid - (32,415 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

11. ULTIMATE CONTROLLING PARTY

The controlling party is J R Macaskill.