IRIS Accounts Production v24.3.2.46 SC207483 Board of Directors 1.10.23 30.9.24 30.9.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2074832023-09-30SC2074832024-09-30SC2074832023-10-012024-09-30SC2074832022-09-30SC2074832022-10-012023-09-30SC2074832023-09-30SC207483ns15:Scotland2023-10-012024-09-30SC207483ns14:PoundSterling2023-10-012024-09-30SC207483ns10:Director12023-10-012024-09-30SC207483ns10:PrivateLimitedCompanyLtd2023-10-012024-09-30SC207483ns10:SmallEntities2023-10-012024-09-30SC207483ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-30SC207483ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-30SC207483ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-30SC207483ns10:FullAccounts2023-10-012024-09-30SC20748312023-10-012024-09-30SC207483ns10:Director22023-10-012024-09-30SC207483ns10:RegisteredOffice2023-10-012024-09-30SC207483ns5:CurrentFinancialInstruments2024-09-30SC207483ns5:CurrentFinancialInstruments2023-09-30SC207483ns5:Non-currentFinancialInstruments2024-09-30SC207483ns5:Non-currentFinancialInstruments2023-09-30SC207483ns5:ShareCapital2024-09-30SC207483ns5:ShareCapital2023-09-30SC207483ns5:CapitalRedemptionReserve2024-09-30SC207483ns5:CapitalRedemptionReserve2023-09-30SC207483ns5:RetainedEarningsAccumulatedLosses2024-09-30SC207483ns5:RetainedEarningsAccumulatedLosses2023-09-30SC207483ns5:IntangibleAssetsOtherThanGoodwill2023-10-012024-09-30SC207483ns5:PatentsTrademarksLicencesConcessionsSimilar2023-10-012024-09-30SC207483ns5:PlantMachinery2023-10-012024-09-30SC207483ns5:MotorVehicles2023-10-012024-09-30SC207483ns5:ComputerEquipment2023-10-012024-09-30SC207483ns5:IntangibleAssetsOtherThanGoodwill2023-09-30SC207483ns5:IntangibleAssetsOtherThanGoodwill2024-09-30SC207483ns5:IntangibleAssetsOtherThanGoodwill2023-09-30SC207483ns5:PlantMachinery2023-09-30SC207483ns5:MotorVehicles2023-09-30SC207483ns5:ComputerEquipment2023-09-30SC207483ns5:PlantMachinery2024-09-30SC207483ns5:MotorVehicles2024-09-30SC207483ns5:ComputerEquipment2024-09-30SC207483ns5:PlantMachinery2023-09-30SC207483ns5:MotorVehicles2023-09-30SC207483ns5:ComputerEquipment2023-09-30SC207483ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-30SC207483ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-30SC207483ns5:RetainedEarningsAccumulatedLosses2023-09-30SC207483ns5:CapitalRedemptionReserve2023-09-30SC207483ns5:RetainedEarningsAccumulatedLosses2023-10-012024-09-30SC207483ns10:Director222023-09-30SC207483ns10:Director222022-09-30SC207483ns10:Director222023-10-012024-09-30SC207483ns10:Director222022-10-012023-09-30SC207483ns10:Director222024-09-30SC207483ns10:Director222023-09-30
REGISTERED NUMBER: SC207483 (Scotland)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

MAC TYRES LIMITED

MAC TYRES LIMITED (REGISTERED NUMBER: SC207483)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


MAC TYRES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr G P W Cordiner
Mrs L Wilkie





REGISTERED OFFICE: Suite A
1 Albyn Place
Aberdeen
AB10 1BR





REGISTERED NUMBER: SC207483 (Scotland)





ACCOUNTANTS: Bain Henry Reid
28 Broad Street
Peterhead
Aberdeenshire
AB42 1BY

MAC TYRES LIMITED (REGISTERED NUMBER: SC207483)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 17,540 21,142
17,540 21,142

CURRENT ASSETS
Stocks 59,779 58,648
Debtors 5 54,906 61,206
Cash at bank and in hand 90,043 86,267
204,728 206,121
CREDITORS
Amounts falling due within one year 6 93,910 89,208
NET CURRENT ASSETS 110,818 116,913
TOTAL ASSETS LESS CURRENT
LIABILITIES

128,358

138,055

CREDITORS
Amounts falling due after more than one year 7 (6,466 ) (15,994 )

PROVISIONS FOR LIABILITIES (4,252 ) (4,699 )
NET ASSETS 117,640 117,362

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Capital redemption reserve 8 5,000 5,000
Retained earnings 8 107,640 107,362
SHAREHOLDERS' FUNDS 117,640 117,362

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

MAC TYRES LIMITED (REGISTERED NUMBER: SC207483)

BALANCE SHEET - continued
30 SEPTEMBER 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 2 May 2025 and were signed on its behalf by:





Mrs L Wilkie - Director


MAC TYRES LIMITED (REGISTERED NUMBER: SC207483)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. 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.

Cherished number plate are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% 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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

MAC TYRES LIMITED (REGISTERED NUMBER: SC207483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


3. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2023
and 30 September 2024 999
AMORTISATION
At 1 October 2023
and 30 September 2024 999
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2023 89,077 34,651 9,728 133,456
Additions 490 - 874 1,364
At 30 September 2024 89,567 34,651 10,602 134,820
DEPRECIATION
At 1 October 2023 75,069 28,422 8,823 112,314
Charge for year 2,853 1,245 868 4,966
At 30 September 2024 77,922 29,667 9,691 117,280
NET BOOK VALUE
At 30 September 2024 11,645 4,984 911 17,540
At 30 September 2023 14,008 6,229 905 21,142

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 45,701 49,401
Other debtors 9,205 11,805
54,906 61,206

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,597 9,597
Trade creditors 54,196 37,097
Taxation and social security 25,867 38,374
Other creditors 4,250 4,140
93,910 89,208

MAC TYRES LIMITED (REGISTERED NUMBER: SC207483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 6,466 15,994

8. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 October 2023 107,362 5,000 112,362
Profit for the year 66,236 66,236
Dividends (65,958 ) (65,958 )
At 30 September 2024 107,640 5,000 112,640

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
Mr G P W Cordiner
Balance outstanding at start of year 1,125 1,212
Amounts repaid - (87 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,125 1,125

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr G P W Cordiner.