2023-06-01 SC323774 2024-05-31 SC323774 2023-06-01 2024-05-31 SC323774 2023-05-31 SC323774 2022-06-01 2023-05-31 SC323774 uk-core:WithinOneYear 2023-05-31 SC323774 uk-core:WithinOneYear 2024-05-31 SC323774 uk-core:ShareCapital 2024-05-31 SC323774 uk-core:ShareCapital 2023-05-31 SC323774 uk-core:RevaluationReserve 2024-05-31 SC323774 uk-core:RevaluationReserve 2023-05-31 SC323774 uk-core:RetainedEarningsAccumulatedLosses 2024-05-31 SC323774 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 SC323774 uk-bus:Director1 2023-06-01 2024-05-31 SC323774 uk-core:PlantMachinery 2023-06-01 2024-05-31 SC323774 uk-core:CommercialMotorVehicles 2023-05-31 SC323774 uk-core:PlantMachinery 2023-05-31 SC323774 uk-core:PlantMachinery 2024-05-31 SC323774 uk-core:CommercialMotorVehicles 2024-05-31 iso4217:GBP xbrli:pure SC323774 uk-bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 SC323774 uk-bus:FRS102 2023-06-01 2024-05-31 SC323774 uk-bus:FilletedAccounts 2023-06-01 2024-05-31 SC323774 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31
Draft
Mackay Underwater Technology Ltd
Registered Number:SC323774
For the year ended 31 May 2024
Scotland
Unaudited Financial Statements
2
Draft
For the year ended 31 May 2024
Mackay Underwater Technology Ltd
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Draft
Registered Number :
SC323774
As at 31 May 2024
Mackay Underwater Technology Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
854
854
2
854
854
Current assets
Inventories
26,715
15,228
3
Trade and other receivables
15,186
8,064
4
37,056
Cash and cash equivalents
31,353
54,645
78,957
Trade and other payables: amounts falling due
within one year
(4)
(14)
5
78,953
54,631
Net current assets
Total assets less current liabilities
55,485
79,807
55,485
Net assets
79,807
Capital and reserves
Called up share capital
100
100
Revaluation reserve
9,954
32,693
6
Retained earnings
45,431
47,014
55,485
79,807
Shareholders' funds
For the year ended 31 May 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been deliver
ed.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
1 of 5
4
Draft
Registered Number :
SC323774
For the year ended 31 May 2024
Mackay Underwater Technology Ltd
Statement of Financial Position Continued
Hugh Mackay Director
These financial statements were approved and authorised for issue by the Board on 19 February 2025 and were signed by:
The notes form part of these financial statements
2 of 5
5
Draft
For the year ended 31 May 2024
Mackay Underwater Technology Ltd
Notes to the Financial Statements
Statutory Information
Mackay Underwater Technology Ltd is a private limited company, limited by shares, domiciled in
Scotland, registration number SC323774.
Registered address:
8 West Banks Avenue
Wick
Caithness
KW1 5LU
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and
Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared
under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
20 Reducing balance
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
3 of 5
6
Draft
For the year ended 31 May 2024
Mackay Underwater Technology Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Motor
vehicles
Plant and
machinery
£
£
£
Cost or
valuation
At 01 June 2023
17,192
4,000
13,192
At 31 May 2024
13,192
4,000
17,192
Provision for depreciation and impairmen
t
At 01 June 2023
16,338
4,000
12,338
At 31 May 2024
16,338
4,000
12,338
At 31 May 2024
Net book value
854
-
854
At 31 May 2023
854
-
854
3. Inventories
2023
2024
£
£
Stocks
15,228
26,715
4. Trade and other receivables
2023
2024
£
£
Trade debtors
8,064
15,186
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Trade creditors
14
4
6. Reserves
Total
£
Revaluation reserve at 01 June 2023
32,693
Revaluation of fixed assets
(22,739)
9,954
Revaluation reserve at 31 May 2024
4 of 5
7
Draft
For the year ended 31 May 2024
Mackay Underwater Technology Ltd
Notes to the Financial Statements Continued
7. Average number of persons employed
During the year the average number of employees was 0
5 of 5