REGISTERED NUMBER: SC447472 (Scotland)

Unaudited Financial Statements for the Year Ended 31st October 2024

for

Mackenzie Law Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

D Mackenzie

Registered office:

2nd Floor

Highland Rail House

Station Square

Inverness

IV1 1LE

Registered number:

SC447472 (Scotland)

Accountants:

Frame Kennedy

4th Floor Metropolitan House

31-33 High Street

Inverness

IV1 1HT

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

75,088

76,527

75,088

76,527

Current assets

Work in progress

2,103

3,823

Debtors

6

489,821

424,041

Cash at bank and in hand

55,805

44,344

547,729

472,208

Creditors

Amounts falling due within one year

7

161,416

155,379

Net current assets

386,313

316,829

Total assets less current liabilities

461,401

393,356

Provisions for liabilities

3,888

3,626

Net assets

457,513

389,730

Capital and reserves

Called up share capital

1

1

Retained earnings

457,512

389,729

457,513

389,730

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30th September 2025 and were signed by:

D Mackenzie - Director

1.	Statutory information

Mackenzie Law 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance and not provided

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Fair value

Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm's length transaction.

3.	Employees and directors

The average number of employees during the year was 5 (2023 - 5 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1st November 2023

and 31st October 2024

415,000

Amortisation

At 1st November 2023

and 31st October 2024

415,000

Net book value

At 31st October 2024

-

At 31st October 2023

-

5.	Tangible fixed assets

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

Cost

At 1st November 2023

59,322

40,825

35,415

135,562

Additions

-

2,567

-

2,567

At 31st October 2024

59,322

43,392

35,415

138,129

Depreciation

At 1st November 2023

-

29,924

29,111

59,035

Charge for year

-

2,430

1,576

4,006

At 31st October 2024

-

32,354

30,687

63,041

Net book value

At 31st October 2024

59,322

11,038

4,728

75,088

At 31st October 2023

59,322

10,901

6,304

76,527

6.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

188,776

134,654

Other debtors

301,045

289,387

489,821

424,041

7.

Creditors: amounts falling due within one year

2024

2023

£

£

Trade creditors

1,931

680

Taxation and social security

151,797

147,656

Other creditors

7,688

7,043

161,416

155,379

8.	Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31st October 2024 and 31st October 2023:

2024

2023

£

£

D Mackenzie

Balance outstanding at start of year

207,965

150,864

Amounts advanced

95,163

143,185

Amounts repaid

(86,084

)

(86,084

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

217,044

207,965