Company Registration No. SC504269 (Scotland)
MacBro Marine Ltd
Unaudited accounts
for the year ended 30 April 2025
MacBro Marine Ltd
Unaudited accounts
Contents
MacBro Marine Ltd
Company Information
for the year ended 30 April 2025
Directors
Carl Sanctuary
Angela MacLennan
Angela MacLennan
Carl Sanctuary
Company Number
SC504269 (Scotland)
Registered Office
MACBRO MARINE LTD
45 HOLM DELL ROAD
INVERNESS
IV2 4GS
SCOTLAND
Accountants
Kerry Mackinnon
Signature Accounting Solutions Ltd
93 Suilven Way
Inverness
Highland
IV3 8PE
MacBro Marine Ltd
Statement of financial position
as at 30 April 2025
Tangible assets
38,156
4,653
Cash at bank and in hand
5,109
13,154
Creditors: amounts falling due within one year
20,362
(2,055)
Net current assets
26,506
36,757
Total assets less current liabilities
64,662
41,410
Creditors: amounts falling due after more than one year
(35,195)
-
Provisions for liabilities
Other provisions
3,503
3,503
Called up share capital
100
100
Revaluation reserve
860
860
Profit and loss account
32,010
43,953
Shareholders' funds
32,970
44,913
For the year ending 30 April 2025 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 June 2025 and were signed on its behalf by
Carl Sanctuary
Director
Company Registration No. SC504269
MacBro Marine Ltd
Notes to the Accounts
for the year ended 30 April 2025
MacBro Marine Ltd is a private company, limited by shares, registered in Scotland, registration number SC504269. The registered office is MACBRO MARINE LTD, 45 HOLM DELL ROAD, INVERNESS, IV2 4GS, SCOTLAND.
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 financial statements have been prepared under the historical cost convention with the principal accounting policies which have been adopted are set out below.
The financial statements are prepared in sterling , sterling is the functional currency of the company.
Monetary values in these financial statements are rounded to the nearest £.
At the date on which the financial statements were approved, the directors are of the opinion that the company remains a going concern.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant & machinery
15% on reducing balance
Motor vehicles
25% on reducing balance
Computer equipment
33% on cost
MacBro Marine Ltd
Notes to the Accounts
for the year ended 30 April 2025
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Basic financial assets, including debtors and cash and bank balances, are initially measured at the transaction price which include transaction costs and are subsequently carried at amortised cost using the effective interest method. Unless the arrangement constitutes a financing transaction, the transaction is measured at the present value of the future receipts which are discounted at a market rate of interest.
Financial assets classified as receivable within one year are not to be amortised.
Financial liabilities and equity instruments are classified according to the contractual arrangements which are entered into. An equity instrument is a contract that evidences a residual interest in the assets of the company following the deduction of all of its liabilities.
Basic financial liabilities include creditors, bank loans and preference shares (classed as a debt). These are initially recognised at the transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of future payments discounted at the market rate of interest. Financial liabilities classified with a one year payable term are not amortised.
Debt instruments are carried at amortised cost, using the effective interest rate method.
Trade creditors involve the agreement to pay for goods or services that have been acquired in the ordinary course of business from suppliers. The amounts payable are classified as current liabilities if payment is due in under one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at the transaction price and then measured at amortised cost using the effective interest method.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Costs involved in short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of stock cost or fixed assets.
Termination benefits are recognised immediately as an expense when the company is required to terminate an employment or provide termination benefits.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
MacBro Marine Ltd
Notes to the Accounts
for the year ended 30 April 2025
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 May 2024
198
10,580
1,105
11,883
Additions
-
40,170
353
40,523
Revaluations
-
(860)
-
(860)
At 30 April 2025
198
49,890
1,458
51,546
At 1 May 2024
99
6,026
1,105
7,230
Charge for the year
99
5,945
116
6,160
At 30 April 2025
198
11,971
1,221
13,390
At 30 April 2025
-
37,919
237
38,156
At 30 April 2024
99
4,554
-
4,653
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2025
2024
Obligations under finance leases and hire purchase contracts
2,914
-
Trade creditors
1,247
1,247
Amounts owed to group undertakings and other participating interests
163
-
Taxes and social security
(192)
4,950
Loans from directors
(30,117)
(14,658)
7
Creditors: amounts falling due after more than one year
2025
2024
Obligations under finance leases and hire purchase contracts
35,195
-
MacBro Marine Ltd
Notes to the Accounts
for the year ended 30 April 2025
Allotted, called up and fully paid:
50 Ordinary Class A of £1 each
50
50
50 Ordinary Class B of £1 each
50
50
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Opening Balance
(5,217)
-
-
(5,217)
Movement in year
40,215
-
-
40,215
10
Average number of employees
During the year the average number of employees was 2 (2024: 2).