5 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 05825839 2023-07-01 2024-06-30 05825839 2024-06-30 05825839 2023-06-30 05825839 2022-07-01 2023-06-30 05825839 2023-06-30 05825839 2022-06-30 05825839 core:LandBuildings core:LongLeaseholdAssets 2023-07-01 2024-06-30 05825839 core:PlantMachinery 2023-07-01 2024-06-30 05825839 core:MotorVehicles 2023-07-01 2024-06-30 05825839 bus:Director1 2023-07-01 2024-06-30 05825839 core:WithinOneYear 2024-06-30 05825839 core:WithinOneYear 2023-06-30 05825839 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 05825839 core:LandBuildings core:LongLeaseholdAssets 2023-06-30 05825839 core:PlantMachinery 2023-06-30 05825839 core:MotorVehicles 2023-06-30 05825839 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 05825839 core:LandBuildings core:LongLeaseholdAssets 2024-06-30 05825839 core:PlantMachinery 2024-06-30 05825839 core:MotorVehicles 2024-06-30 05825839 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 05825839 core:AfterOneYear 2024-06-30 05825839 core:AfterOneYear 2023-06-30 05825839 core:ShareCapital 2024-06-30 05825839 core:ShareCapital 2023-06-30 05825839 core:RetainedEarningsAccumulatedLosses 2024-06-30 05825839 core:RetainedEarningsAccumulatedLosses 2023-06-30 05825839 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 05825839 core:LandBuildings core:LongLeaseholdAssets 2023-06-30 05825839 core:PlantMachinery 2023-06-30 05825839 core:MotorVehicles 2023-06-30 05825839 bus:SmallEntities 2023-07-01 2024-06-30 05825839 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 05825839 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 05825839 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05825839 bus:FullAccounts 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 05825839
MACKENZIE TRADING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 June 2024
MACKENZIE TRADING LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2024
2024
2023
Note
£
£
£
FIXED ASSETS
Tangible assets
5
2,422,297
2,463,465
CURRENT ASSETS
Stocks
148,250
19,126
Debtors
6
265,381
82,702
---------
---------
413,631
101,828
CREDITORS: amounts falling due within one year
7
1,059,881
902,529
-----------
---------
NET CURRENT LIABILITIES
646,250
800,701
-----------
-----------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,776,047
1,662,764
CREDITORS: amounts falling due after more than one year
8
830,758
756,300
PROVISIONS
99,858
101,238
-----------
-----------
NET ASSETS
845,431
805,226
-----------
-----------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
845,331
805,126
---------
---------
SHAREHOLDERS FUNDS
845,431
805,226
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30th June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MACKENZIE TRADING LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 13 August 2024 , and are signed on behalf of the board by:
Mr S B Whatmuff
Director
Company registration number: 05825839
MACKENZIE TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30th JUNE 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 The Headlands, Heysham Head, Heysham, Lancashire, LA3 2RX, United Kingdom.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
BASIS OF PREPARATION
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
REVENUE RECOGNITION
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
TANGIBLE ASSETS
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
DEPRECIATION
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
20% straight line
Plant and machinery
-
20% reducing balance
Motor vehicles
-
20% straight line
STOCKS
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
FINANCE LEASES AND HIRE PURCHASE CONTRACTS
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
PROVISIONS
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
5. TANGIBLE ASSETS
Investment properties
Leasehold property
Plant and machinery
Motor vehicles
Total
£
£
£
£
£
Cost
At 1st July 2023
2,345,500
50,642
106,355
92,009
2,594,506
Additions
1,441
108,375
109,816
Disposals
( 108,000)
( 108,000)
-----------
-------
---------
---------
-----------
At 30th June 2024
2,237,500
50,642
107,796
200,384
2,596,322
-----------
-------
---------
---------
-----------
Depreciation
At 1st July 2023
44,778
80,129
6,134
131,041
Charge for the year
2,932
5,394
34,658
42,984
-----------
-------
---------
---------
-----------
At 30th June 2024
47,710
85,523
40,792
174,025
-----------
-------
---------
---------
-----------
Carrying amount
At 30th June 2024
2,237,500
2,932
22,273
159,592
2,422,297
-----------
-------
---------
---------
-----------
At 30th June 2023
2,345,500
5,864
26,226
85,875
2,463,465
-----------
-------
---------
---------
-----------
6. DEBTORS
2024
2023
£
£
Trade debtors
149,267
68,084
Prepayments and accrued income
345
Other debtors
115,769
14,618
---------
-------
265,381
82,702
---------
-------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
200,981
205,022
Trade creditors
202,263
47,701
Accruals and deferred income
6,633
38,285
Corporation tax
31,393
27,224
Social security and other taxes
290
802
Obligations under finance leases and hire purchase contracts
13,199
8,105
Director loan accounts
605,122
575,390
-----------
---------
1,059,881
902,529
-----------
---------
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
686,406
678,031
Obligations under finance leases and hire purchase contracts
144,352
78,269
---------
---------
830,758
756,300
---------
---------