Mackinnon Investments Limited Filleted accounts for Companies House (small and micro)

Mackinnon Investments Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Current assets

Debtors	4	4,020	4,020
Investments	5	77,735	75,135
		--------	--------
		81,755	79,155

Creditors: amounts falling due within one year	6	932,204		907,975
		---------		---------
Net current liabilities			850,449	828,820
			---------	---------
Total assets less current liabilities			( 850,449)	( 828,820)
			---------	---------

Capital and reserves

Called up share capital	500,000	500,000
Profit and loss account	( 1,350,449)	( 1,328,820)
	------------	------------
Shareholders deficit	( 850,449)	( 828,820)
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 30 December 2025 , and are signed on behalf of the board by:

I F Mackinnon

Director

Company registration number: 08028025

Mackinnon Investments Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Northwood House, Ward Avenue, Cowes, Isle of Wight, PO31 8AZ, UK.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Compound instruments Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability. The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument. The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.

4. Debtors

	2024	2023
	£	£
Other debtors	4,020	4,020
	-------	-------

5. Investments

	2024	2023
	£	£
Other investments	77,735	75,135
	--------	--------

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	469,827	459,702
Corporation tax	4,000	4,000
Other creditors	458,377	444,273
	---------	---------
	932,204	907,975
	---------	---------

7. Related party transactions

The company is wholly owned and controlled by I F Mackinnon Capital Limited. I F Mackinnon Capital Limited is under the control of I F Mackinnon and A D Mackinnon. The company has relied upon paragraph 33.1A of FRS 102 to exclude details of related party transactions between all wholly owned subsidiaries of I F Mackinnon Capital Limited.