Mackay Underwater Technology Ltd |
Registered Number:SC323774 |
For the year ended 31 May 2024
Scotland
Unaudited Financial Statements
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
Mackay Underwater Technology Ltd
Statement of Financial Position
2023
2024
Property, plant and equipment |
854
854
2
854
854
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
100
100
9,954
32,693
6
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. |
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For the year ended 31 May 2024
Mackay Underwater Technology Ltd
Statement of Financial Position Continued
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 |
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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. |
8 West Banks Avenue
Wick
Caithness
KW1 5LU
The presentation currency is £ sterling. |
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
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. |
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For the year ended 31 May 2024
Mackay Underwater Technology Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment |
17,192
4,000
13,192
13,192
4,000
17,192
Provision for depreciation and impairmen |
t |
16,338
4,000
12,338
16,338
4,000
12,338
854
-
854
854
-
854
2023
2024
15,228
26,715
4. Trade and other receivables |
2023
2024
8,064
15,186
5. Trade and other payables: amounts falling due within one year |
2023
2024
14
4
Revaluation reserve at 01 June 2023 |
32,693
Revaluation of fixed assets |
(22,739)
9,954
Revaluation reserve at 31 May 2024 |
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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