1 January 2024 false No description of principal activity Taxfiler 2024.6 SC241581business:PrivateLimitedCompanyLtd2024-01-012024-12-31 SC2415812023-12-31 SC2415812024-01-012024-12-31 SC241581business:AuditExemptWithAccountantsReport2024-01-012024-12-31 SC241581business:FilletedAccounts2024-01-012024-12-31 SC2415812024-12-31 SC241581business:Director12024-01-012024-12-31 SC241581business:RegisteredOffice2024-01-012024-12-31 SC2415812023-12-31 SC241581core:WithinOneYear2024-12-31 SC241581core:WithinOneYear2023-12-31 SC241581core:AfterOneYear2024-12-31 SC241581core:AfterOneYear2023-12-31 SC241581core:ShareCapitalcore:PreviouslyStatedAmount2024-12-31 SC241581core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 SC241581core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-12-31 SC241581core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 SC241581core:PreviouslyStatedAmount2024-12-31 SC241581core:PreviouslyStatedAmount2023-12-31 SC241581business:SmallEntities2024-01-012024-12-31 SC241581countries:Scotland2024-01-012024-12-31 SC241581core:LandBuildings2024-01-012024-12-31 SC241581core:PlantMachinery2024-01-012024-12-31 SC241581core:MotorVehicles2024-01-012024-12-31 SC241581core:FurnitureFittings2024-01-012024-12-31 SC241581core:ComputerEquipment2024-01-012024-12-31 SC241581core:LandBuildings2023-12-31 SC241581core:PlantMachinery2023-12-31 SC241581core:MotorVehicles2023-12-31 SC241581core:FurnitureFittings2023-12-31 SC241581core:ComputerEquipment2023-12-31 SC241581core:LandBuildings2024-12-31 SC241581core:PlantMachinery2024-12-31 SC241581core:MotorVehicles2024-12-31 SC241581core:FurnitureFittings2024-12-31 SC241581core:ComputerEquipment2024-12-31 SC241581core:MotorVehiclescore:LeasedAssetsHeldAsLessee2024-12-31 SC241581core:MotorVehiclescore:LeasedAssetsHeldAsLessee2023-12-31 SC241581core:DisposalsRepaymentsInvestments2024-12-31 SC2415812023-01-012023-12-31 iso4217:GBP xbrli:pure
Company Registration No. SC241581 (Scotland)
Duncan Mackenzie Ltd Unaudited accounts for the year ended 31 December 2024
Duncan Mackenzie Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Duncan Mackenzie Ltd Company Information for the year ended 31 December 2024
Director
Duncan Mackenzie
Company Number
SC241581 (Scotland)
Registered Office
33 SOUTH BEACH STREET STORNOWAY ISLE OF LEWIS HS1 2BN
Accountants
Taxnfacts Ltd Timbuckthree 9 New Tolsta Isle of Lewis HS2 0NN
- 3 -
Duncan Mackenzie Ltd Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
314,732 
288,360 
Investments
5
184,633 
224,633 
499,365 
512,993 
Current assets
Inventories
27,988 
34,182 
Debtors
6
54,894 
31,189 
Cash at bank and in hand
87,021 
100,385 
169,903 
165,756 
Creditors: amounts falling due within one year
7
(190,834)
(189,762)
Net current liabilities
(20,931)
(24,006)
Total assets less current liabilities
478,434 
488,987 
Creditors: amounts falling due after more than one year
8
(84,653)
(87,380)
Provisions for liabilities
Deferred tax
(19,093)
(12,811)
Net assets
374,688 
388,796 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
374,588 
388,696 
Shareholders' funds
374,688 
388,796 
For the year ending 31 December 2024 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 director acknowledges his 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 and authorised for issue on 30 September 2025 and were signed on its behalf by
Duncan Mackenzie Director Company Registration No. SC241581
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Duncan Mackenzie Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Duncan Mackenzie Ltd is a private company, limited by shares, registered in Scotland, registration number SC241581. The registered office is 33 SOUTH BEACH STREET, STORNOWAY, ISLE OF LEWIS, HS1 2BN.
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.
3
Accounting policies
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.
Presentation currency
The accounts are presented in £ sterling.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 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:
Land & buildings
2% on cost
Plant & machinery
20% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
20% reducing balance
Computer equipment
50% reducing balance
Investments
Investments in shares are included at fair value.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for slow moving items
Hire purchase and leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
- 5 -
Duncan Mackenzie Ltd Notes to the Accounts for the year ended 31 December 2024
Deferred taxation
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.
Pension costs
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.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 January 2024
334,750 
607 
112,472 
9,411 
4,906 
462,146 
Additions
- 
- 
114,068 
- 
- 
114,068 
Disposals
- 
- 
(87,577)
- 
- 
(87,577)
At 31 December 2024
334,750 
607 
138,963 
9,411 
4,906 
488,637 
Depreciation
At 1 January 2024
113,815 
121 
46,712 
9,037 
4,101 
173,786 
Charge for the year
6,695 
97 
33,185 
76 
554 
40,607 
On disposals
- 
- 
(40,488)
- 
- 
(40,488)
At 31 December 2024
120,510 
218 
39,409 
9,113 
4,655 
173,905 
Net book value
At 31 December 2024
214,240 
389 
99,554 
298 
251 
314,732 
At 31 December 2023
220,935 
486 
65,760 
374 
805 
288,360 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
99,554 
56,703 
5
Investments
Other investments 
£ 
Valuation at 1 January 2024
224,633 
Disposals
(40,000)
Valuation at 31 December 2024
184,633 
Investments are with HBOS Investment Fund Managers Ltd in a Collective Investment Plan which is an investment in an Open Ended Investment Company.
- 6 -
Duncan Mackenzie Ltd Notes to the Accounts for the year ended 31 December 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
18,021 
21,833 
Accrued income and prepayments
32,054 
8,966 
Other debtors
4,819 
390 
54,894 
31,189 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
12,500 
12,500 
VAT
433 
6,317 
Obligations under finance leases and hire purchase contracts
24,507 
19,005 
Trade creditors
92,872 
98,344 
Taxes and social security
8,405 
15,690 
Other creditors
9,462 
9,265 
Accruals
14,870 
8,299 
Deferred income
27,785 
20,342 
190,834 
189,762 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
20,215 
34,755 
Obligations under finance leases and hire purchase contracts
50,895 
28,507 
Loans from directors
13,543 
24,118 
84,653 
87,380 
9
Average number of employees
During the year the average number of employees was 9 (2023: 9).
- 7 -