Company Registration No. SC508752 (Scotland)
MAC Motorsport Ltd
Unaudited accounts
for the year ended 30 June 2024
MAC Motorsport Ltd
Statement of financial position
as at 30 June 2024
Tangible assets
135,266
158,067
Cash at bank and in hand
19,815
8,154
Creditors: amounts falling due within one year
(730,347)
(591,333)
Net current liabilities
(669,125)
(581,614)
Total assets less current liabilities
(533,859)
(423,547)
Creditors: amounts falling due after more than one year
(20,753)
(49,256)
Net liabilities
(554,612)
(472,803)
Profit and loss account
(554,614)
(472,805)
Shareholders' funds
(554,612)
(472,803)
For the year ending 30 June 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by
Sylwia Mucha
Director
Company Registration No. SC508752
MAC Motorsport Ltd
Notes to the Accounts
for the year ended 30 June 2024
MAC Motorsport Ltd is a private company, limited by shares, registered in Scotland, registration number SC508752. The registered office is UNIT 4 DUNSINANE AVENUE, DUNSINANE INDUSTRIAL ESTATE, DUNDEE, DD2 3QN, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 July 2023
18,455
199,415
141,545
220
23,856
383,491
Additions
-
11,036
-
-
-
11,036
At 30 June 2024
18,455
210,451
141,545
220
23,856
394,527
At 1 July 2023
7,032
120,483
80,130
108
17,671
225,424
Charge for the year
2,285
18,009
12,283
23
1,237
33,837
At 30 June 2024
9,317
138,492
92,413
131
18,908
259,261
At 30 June 2024
9,138
71,959
49,132
89
4,948
135,266
At 30 June 2023
11,423
78,932
61,415
112
6,185
158,067
MAC Motorsport Ltd
Notes to the Accounts
for the year ended 30 June 2024
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
221,207
143,631
Taxes and social security
29,761
41,864
Other creditors
3,556
2,676
Loans from directors
475,823
403,162
7
Creditors: amounts falling due after more than one year
2024
2023
8
Average number of employees
During the year the average number of employees was 6 (2023: 6).