19 false false false false false false false false false false true false false false false false false No description of principal activity 2023-12-01 Sage Accounts Production Advanced 2024 - FRS102_2024 54,410 54,410 xbrli:pure xbrli:shares iso4217:GBP SC098274 2023-12-01 2024-11-30 SC098274 2024-11-30 SC098274 2023-11-30 SC098274 2022-12-01 2023-11-30 SC098274 2023-11-30 SC098274 2022-11-30 SC098274 core:PlantMachinery 2023-12-01 2024-11-30 SC098274 core:FurnitureFittings 2023-12-01 2024-11-30 SC098274 core:MotorVehicles 2023-12-01 2024-11-30 SC098274 core:NetGoodwill 2023-12-01 2024-11-30 SC098274 bus:Director1 2023-12-01 2024-11-30 SC098274 core:NetGoodwill 2024-11-30 SC098274 core:LandBuildings core:OwnedOrFreeholdAssets 2023-11-30 SC098274 core:PlantMachinery 2023-11-30 SC098274 core:FurnitureFittings 2023-11-30 SC098274 core:MotorVehicles 2023-11-30 SC098274 core:LandBuildings core:OwnedOrFreeholdAssets 2024-11-30 SC098274 core:PlantMachinery 2024-11-30 SC098274 core:FurnitureFittings 2024-11-30 SC098274 core:MotorVehicles 2024-11-30 SC098274 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 SC098274 core:WithinOneYear 2024-11-30 SC098274 core:WithinOneYear 2023-11-30 SC098274 core:ShareCapital 2024-11-30 SC098274 core:ShareCapital 2023-11-30 SC098274 core:RetainedEarningsAccumulatedLosses 2024-11-30 SC098274 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC098274 core:LandBuildings core:OwnedOrFreeholdAssets 2023-11-30 SC098274 core:PlantMachinery 2023-11-30 SC098274 core:FurnitureFittings 2023-11-30 SC098274 core:MotorVehicles 2023-11-30 SC098274 bus:Director1 2023-11-30 SC098274 bus:Director1 2024-11-30 SC098274 bus:Director1 2022-11-30 SC098274 bus:Director1 2023-11-30 SC098274 bus:Director1 2022-12-01 2023-11-30 SC098274 bus:SmallEntities 2023-12-01 2024-11-30 SC098274 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 SC098274 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 SC098274 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 SC098274 bus:FullAccounts 2023-12-01 2024-11-30
COMPANY REGISTRATION NUMBER: SC098274
Marixin (Inverness) Limited
Filleted Unaudited Financial Statements
30 November 2024
Marixin (Inverness) Limited
Statement of Financial Position
30 November 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
36,680
35,775
Current assets
Stocks
6,000
6,500
Debtors
7
2,397
7,596
Investments
8
151,030
Cash at bank and in hand
312,648
134,463
---------
---------
321,045
299,589
Creditors: amounts falling due within one year
9
81,151
56,446
---------
---------
Net current assets
239,894
243,143
---------
---------
Total assets less current liabilities
276,574
278,918
Provisions
8,371
8,802
---------
---------
Net assets
268,203
270,116
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
267,203
269,116
---------
---------
Shareholders funds
268,203
270,116
---------
---------
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 30 November 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 .
Marixin (Inverness) Limited
Statement of Financial Position (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 6 June 2025 , and are signed on behalf of the board by:
Evelyn Galloway Thomson
Director
Company registration number: SC098274
Marixin (Inverness) Limited
Notes to the Financial Statements
Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is The Tower, 103 High Street, Elgin, IV30 1EB.
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 represents restaurant sales, coffee shop sales and takeaway sales. These are net of VAT and trade discounts.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill is written off in equal annual instalments over its estimated useful economic life.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset.
Goodwill
-
3 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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.
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:
Land and buildings
-
10 years straight line
Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
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.
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.
Financial instruments
The following assets and liabilities are classified as financial instruments - bank, trade debtors, trade creditors, loans and directors' loans to the company. Cash and cash equivalents in the statement of financial position comprise cash at bank and in hand held, on demand. Cash equivalents include other short-term liquid investments with original maturity dates of 95 days or less. Bank overdrafts are shown within creditors due within one year. Trade debtors and creditors are measured at the undiscounted amounts receivable from the customer or payable to a supplier, which is normally the invoiced price. Trade debtors are assessed at the end of each reporting period for the objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of income and retained earnings. Loans received are recognised at the amount of cash received, less separately incurred transition costs. Directors' loans to the company which are repayable on demand are measured at the undiscounted amount of the cash expected to be paid.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 19 (2023: 25 ).
5. Intangible assets
Goodwill
£
Cost
At 1 December 2023 and 30 November 2024
54,410
--------
Amortisation
At 1 December 2023 and 30 November 2024
54,410
--------
Carrying amount
At 30 November 2024
--------
At 30 November 2023
--------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 December 2023
78,840
37,080
27,162
19,915
162,997
Additions
7,710
2,400
10,110
--------
--------
--------
--------
---------
At 30 November 2024
78,840
44,790
29,562
19,915
173,107
--------
--------
--------
--------
---------
Depreciation
At 1 December 2023
77,789
22,132
17,899
9,402
127,222
Charge for the year
297
4,531
1,749
2,628
9,205
--------
--------
--------
--------
---------
At 30 November 2024
78,086
26,663
19,648
12,030
136,427
--------
--------
--------
--------
---------
Carrying amount
At 30 November 2024
754
18,127
9,914
7,885
36,680
--------
--------
--------
--------
---------
At 30 November 2023
1,051
14,948
9,263
10,513
35,775
--------
--------
--------
--------
---------
7. Debtors
2024
2023
£
£
Other debtors
2,397
7,596
-------
-------
8. Investments
2024
2023
£
£
Other investments
151,030
----
---------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
21,836
11,213
Corporation tax
10,734
Social security and other taxes
37,984
36,267
Other creditors
10,597
8,966
--------
--------
81,151
56,446
--------
--------
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Evelyn Galloway Thomson
5,387
46,176
( 53,800)
( 2,237)
-------
--------
--------
-------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Evelyn Galloway Thomson
9,124
58,263
( 62,000)
5,387
-------
--------
--------
-------