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REGISTERED NUMBER: SC506063 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

Macbones Ltd

Macbones Ltd (Registered number: SC506063)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Macbones Ltd

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mrs M T El Adm
Mr S El Adm





REGISTERED OFFICE: Mulloch Mor
Tennis Court Road
Lamlash
Isle of Arran
KA27 8LS





REGISTERED NUMBER: SC506063 (Scotland)





ACCOUNTANTS: Burgoyne Carey
Chartered Accountants
Pavilion 2
3 Dava Street
Broomloan Road
Glasgow
G51 2JA

Macbones Ltd (Registered number: SC506063)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 95,661 101,998
95,661 101,998

CURRENT ASSETS
Stocks - 5,000
Debtors 6 65 -
Cash at bank and in hand 641,271 205,178
641,336 210,178
CREDITORS
Amounts falling due within one year 7 506,848 138,066
NET CURRENT ASSETS 134,488 72,112
TOTAL ASSETS LESS CURRENT
LIABILITIES

230,149

174,110

CREDITORS
Amounts falling due after more than one
year

8

-

20,929
NET ASSETS 230,149 153,181

CAPITAL AND RESERVES
Called up share capital 54 54
Retained earnings 230,095 153,127
230,149 153,181

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

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 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.

Macbones Ltd (Registered number: SC506063)

BALANCE SHEET - continued
31 MAY 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 5 February 2025 and were signed on its behalf by:





Mr S El Adm - Director


Macbones Ltd (Registered number: SC506063)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Macbones Ltd 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.

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 amounts invoiced during the year net, exclusive of Value Added Tax.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 20% on cost
Office equipment - 25% on cost
Fixtures and fittings - 25% on cost
Website - 25% 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.

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.

Macbones Ltd (Registered number: SC506063)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023 135,000
Disposals (150,000 )
At 31 May 2024 (15,000 )
AMORTISATION
At 1 June 2023 135,000
Eliminated on disposal (150,000 )
At 31 May 2024 (15,000 )
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

Macbones Ltd (Registered number: SC506063)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Office and
property equipment fittings Website Totals
£    £    £    £    £   
COST
At 1 June 2023 97,103 2,461 71,120 1,809 172,493
Additions - 633 - - 633
Disposals (2,025 ) - (71,120 ) (1,809 ) (74,954 )
At 31 May 2024 95,078 3,094 - - 98,172
DEPRECIATION
At 1 June 2023 2,025 2,284 64,377 1,809 70,495
Charge for year - 227 - - 227
Eliminated on disposal (2,025 ) - (64,377 ) (1,809 ) (68,211 )
At 31 May 2024 - 2,511 - - 2,511
NET BOOK VALUE
At 31 May 2024 95,078 583 - - 95,661
At 31 May 2023 95,078 177 6,743 - 101,998

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT 65 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,545 10,000
Trade creditors - 6,700
Tax 29,981 12,967
Social security and other taxes 62 2,155
VAT - 29,136
Other creditors - 15,512
Pension Liability - 171
Directors' loan accounts 467,010 47,725
Accrued expenses 3,250 13,700
506,848 138,066

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years - 10,000
Bank loans - 2-5 years - 10,929
- 20,929

Macbones Ltd (Registered number: SC506063)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Mr S El Adm and Mrs M T El Adm
Balance outstanding at start of year (47,725 ) (58,401 )
Amounts advanced (419,285 ) 41,346
Amounts repaid - (30,670 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (467,010 ) (47,725 )

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £10,000 were paid to the directors .