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REGISTERED NUMBER: SC177616 (Scotland)











Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Macduff Diesels Ltd

Macduff Diesels Ltd (Registered number: SC177616)






Contents of the Financial Statements
for the year ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Macduff Diesels Ltd

Company Information
for the year ended 30 September 2024







DIRECTORS: J Watt
C Ritchie
R Macleod





SECRETARY: LC Secretaries Ltd





REGISTERED OFFICE: Johnstone House
52-54 Rose Street
Aberdeen
Aberdeen
AB10 1HA





REGISTERED NUMBER: SC177616 (Scotland)





ACCOUNTANTS: Grampian Accounting
3 Prospect Place
Arnhall Business Park
Westhill
Aberdeenshire
AB32 6SY

Macduff Diesels Ltd (Registered number: SC177616)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 36,959 59,524

CURRENT ASSETS
Stocks 426,296 545,299
Debtors 5 310,353 247,223
Cash at bank and in hand 240,342 90,719
976,991 883,241
CREDITORS
Amounts falling due within one year 6 103,658 64,954
NET CURRENT ASSETS 873,333 818,287
TOTAL ASSETS LESS CURRENT
LIABILITIES

910,292

877,811

CREDITORS
Amounts falling due after more than one
year

7

(7,429

)

(23,025

)

PROVISIONS FOR LIABILITIES (2,758 ) (5,044 )
NET ASSETS 900,105 849,742

CAPITAL AND RESERVES
Called up share capital 5,750 5,750
Share premium 49,250 49,250
Retained earnings 845,105 794,742
SHAREHOLDERS' FUNDS 900,105 849,742

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.

Macduff Diesels Ltd (Registered number: SC177616)

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 16 June 2025 and were signed on its behalf by:




R Macleod - Director



J Watt - Director


Macduff Diesels Ltd (Registered number: SC177616)

Notes to the Financial Statements
for the year ended 30 September 2024

1. STATUTORY INFORMATION

Macduff Diesels Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Macduff Diesels Ltd (Registered number: SC177616)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 120,976
Additions 10,065
Disposals (44,170 )
At 30 September 2024 86,871
DEPRECIATION
At 1 October 2023 61,452
Charge for year 5,600
Eliminated on disposal (17,140 )
At 30 September 2024 49,912
NET BOOK VALUE
At 30 September 2024 36,959
At 30 September 2023 59,524

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 287,345 210,689
Other debtors 23,008 36,534
310,353 247,223

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts 5,237 10,379
Trade creditors 80,282 52,644
Taxation and social security 13,001 (4,225 )
Other creditors 5,138 6,156
103,658 64,954

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts 7,429 23,025

Macduff Diesels Ltd (Registered number: SC177616)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company made sales to Macduff Shipyards Limited of £3580,491 (2023 £348,333) and was owed £122,352 (2023 £17,669) from Macduff Shipyards Limited at the year end.
During the year the company made purchases from Macduff Shipyards Limited of £21,469 (2023 £10,016 ) and was due £1,340 (2023 £3,446 ) to Macduff Shipyards Limited at the year end.
Messrs Watt, Ritchie and MacLeod are directors and shareholders of both Macduff Diesels Limited and Macduff Shipyards Limited.
The company also paid rent of £16,620 (2023 £16,620) to Mr & Mrs Watt during the year, and owed £0.00 (2023 £0) to Mr & Mrs Watt at the year end.
All of the above transactions took place on an arms length basis.