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REGISTERED NUMBER: SC169932 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 November 2024

for

McKenzie Properties Ltd.

McKenzie Properties Ltd. (Registered number: SC169932)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


McKenzie Properties Ltd.

Company Information
for the Year Ended 30 November 2024







DIRECTORS: J C McKenzie
Mrs B E McKenzie



SECRETARY: J C McKenzie



REGISTERED OFFICE: Gardners Cottage
9 Grierson Drive
Deanston
Doune
FK16 6BA



REGISTERED NUMBER: SC169932 (Scotland)



ACCOUNTANTS: Armstrongs Accounting Services Limited
7 Dunvegan Drive
Newton Mearns
Glasgow
G77 5EB



SOLICITORS: Jardine Donaldson
Solicitors
Bank Street
Alloa
FK10 1HP

McKenzie Properties Ltd. (Registered number: SC169932)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,611,089 2,834,888

CURRENT ASSETS
Debtors 5 239 346
Cash at bank 190,377 241,345
190,616 241,691
CREDITORS
Amounts falling due within one year 6 174,342 231,786
NET CURRENT ASSETS 16,274 9,905
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,627,363

2,844,793

CREDITORS
Amounts falling due after more than one year 7 (859,940 ) (1,700,629 )

PROVISIONS FOR LIABILITIES (6,965 ) (4,150 )
NET ASSETS 2,760,458 1,140,014

CAPITAL AND RESERVES
Called up share capital 200 100
Share premium 1,244,900 -
Retained earnings 1,515,358 1,139,914
SHAREHOLDERS' FUNDS 2,760,458 1,140,014

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

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

McKenzie Properties Ltd. (Registered number: SC169932)

Balance Sheet - continued
30 November 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 July 2025 and were signed on its behalf by:





J C McKenzie - Director


McKenzie Properties Ltd. (Registered number: SC169932)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

McKenzie Properties 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 represents income from property lettings.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 33% on cost and 20% on reducing balance

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.

Taxation 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

McKenzie Properties Ltd. (Registered number: SC169932)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2023 2,818,286 97,864 2,916,150
Additions 1,364,691 30,594 1,395,285
Disposals (599,750 ) (39,058 ) (638,808 )
At 30 November 2024 3,583,227 89,400 3,672,627
DEPRECIATION
At 1 December 2023 - 81,262 81,262
Charge for year - 8,654 8,654
Eliminated on disposal - (28,378 ) (28,378 )
At 30 November 2024 - 61,538 61,538
NET BOOK VALUE
At 30 November 2024 3,583,227 27,862 3,611,089
At 30 November 2023 2,818,286 16,602 2,834,888

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Other debtors 239 346

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts - 37,600
Taxation and social security 80,541 45,336
Other creditors 93,801 148,850
174,342 231,786

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Bank loans 859,940 1,700,629

McKenzie Properties Ltd. (Registered number: SC169932)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.24 30.11.23
£    £   
Bank loans 859,940 1,738,229

A Bond and Floating charge and Standard Securities over the properties owned by the company were granted to the Bank of Scotland plc. The floating charge was dated 13th June 2017 and the property charges were registered on 6th July 2017.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The amount owed to the directors at 30 November 2024 was £83,006 (2023 £138,369).

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J C McKenzie.