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REGISTERED NUMBER: SC477595 (Scotland)















Financial Statements for the Year Ended 31 May 2024

for

Mac Engineering(Caithness) Ltd

Mac Engineering(Caithness) Ltd (Registered number: SC477595)






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


Mac Engineering(Caithness) Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: S Macmillan



REGISTERED OFFICE: 3 Hood Street
Wick
Caithness
KW1 5NB



REGISTERED NUMBER: SC477595 (Scotland)



ACCOUNTANTS: Reid & Fraser
Chartered Accountants
92 High Street
Wick
Caithness
KW1 4LY



BANKERS: Bank of Scotland
18 Bridge Street
Wick
Caithness
KW1 4NG

Mac Engineering(Caithness) Ltd (Registered number: SC477595)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 250 250
Tangible assets 5 27,620 4,806
27,870 5,056

CURRENT ASSETS
Stocks 1,500 1,350
Debtors 6 - 690
Cash at bank 14,181 14,360
15,681 16,400
CREDITORS
Amounts falling due within one year 7 (23,967 ) (4,788 )
NET CURRENT (LIABILITIES)/ASSETS (8,286 ) 11,612
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,584

16,668

CREDITORS
Amounts falling due after more than one
year

8

(5,069

)

(14,937

)

PROVISIONS FOR LIABILITIES 9 (3,331 ) -
NET ASSETS 11,184 1,731

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11,084 1,631
SHAREHOLDERS' FUNDS 11,184 1,731

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 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.

Mac Engineering(Caithness) Ltd (Registered number: SC477595)

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 director and authorised for issue on 27 February 2025 and were signed by:





S Macmillan - Director


Mac Engineering(Caithness) Ltd (Registered number: SC477595)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Mac Engineering(Caithness) 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Investments are being amortised evenly over their estimated useful life of nil years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% reducing balance

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.

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.

Mac Engineering(Caithness) Ltd (Registered number: SC477595)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023
and 31 May 2024 250
NET BOOK VALUE
At 31 May 2024 250
At 31 May 2023 250

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 June 2023 13,803
Additions 27,689
At 31 May 2024 41,492
DEPRECIATION
At 1 June 2023 8,997
Charge for year 4,875
At 31 May 2024 13,872
NET BOOK VALUE
At 31 May 2024 27,620
At 31 May 2023 4,806

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 690

Mac Engineering(Caithness) Ltd (Registered number: SC477595)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,212 -
Trade creditors 1,170 1,401
Taxation and social security - 2,441
Other creditors 17,585 946
23,967 4,788

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 5,069 14,937

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 5,196 -
Tax losses carried forward (1,865 ) -
3,331 -

Deferred
tax
£   
Accelerated capital allowances 5,196
Loss relief carried forward (1,865 )
Balance at 31 May 2024 3,331