Donald MacLennan Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC244182 (Scotland)

DONALD MACLENNAN LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D MacLennan

SECRETARY:

J MacLennan

REGISTERED OFFICE:

6 Lower Milovaig

Glendale

Isle of Skye

IV55 8WR

REGISTERED NUMBER:

SC244182 (Scotland)

ACCOUNTANTS:

Benham Conway & Co

16 Royal Crescent

Glasgow

G3 7SL

FIXED ASSETS

Tangible assets

4

8,364

10,693

CURRENT ASSETS

Debtors

5

135

126

Cash at bank

902

11,775

1,037

11,901

CREDITORS

Amounts falling due within one year

6

8,667

17,326

NET CURRENT LIABILITIES

(7,630

)

(5,425

)

TOTAL ASSETS LESS CURRENT LIABILITIES

734

5,268

CREDITORS

Amounts falling due after more than one year

7

(5,063

)

(7,674

)

PROVISIONS FOR LIABILITIES

(1,434

)

(2,013

)

NET LIABILITIES

(5,763

)

(4,419

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(5,764

)

(4,420

)

SHAREHOLDERS' FUNDS

(5,763

)

(4,419

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 Income Statement has not been delivered.

The financial statements were approved by the director on 10 December 2019 and were signed by:

D MacLennan - Director

1.	STATUTORY INFORMATION

Donald MacLennan Limited 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 the value of goods and services provided in the year, net of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value

of each asset over its estimated useful life.

Plant and machinery, etc - 25% on cost and 25% 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.

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.

Going concern

The director has prepared the accounts on a going concern basis despite there being net liabilities at the balance

sheet date as the company has continued to trade since the year end and is meeting its liabilities as they fall due.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts are capitalised in the balance sheet. These assets are initially

recognised at transaction price and are depreciated over their estimated useful lives.The interest element of these

obligations is charged to the profit and loss account over the relevant period using the effective interest rate

method.The capital element of future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

21,110

Additions

460

At 31 March 2019

21,570

DEPRECIATION

At 1 April 2018

10,417

Charge for year

2,789

At 31 March 2019

13,206

NET BOOK VALUE

At 31 March 2019

8,364

At 31 March 2018

10,693

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Other debtors

135

126

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts

2,611

2,425

Trade creditors

-

4,189

Director's loan account

4,886

9,518

Other creditors

1,170

1,194

8,667

17,326

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts

5,063

7,674

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

£

£

Hire purchase contracts

7,674

10,099

Hire purchase creditors have security over related assets.

9.	RELATED PARTY DISCLOSURES