MacDonald Clark Consultancy Ltd Company accounts

MACDONALD CLARK CONSULTANCY LTD - Company Information

0 false false false false false false false false false true false false false false false false No description of principal activity 2021-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 20,080 27,608 20,730 695 21,425 17,512 782 18,294 3,131 3,218 xbrli:pure xbrli:shares iso4217:GBP SC307930 2021-04-01 2022-03-31 SC307930 2022-03-31 SC307930 2021-03-31 SC307930 2020-04-01 2021-03-31 SC307930 2021-03-31 SC307930 bus:RegisteredOffice 2021-04-01 2022-03-31 SC307930 bus:Director1 2021-04-01 2022-03-31 SC307930 core:WithinOneYear 2022-03-31 SC307930 core:WithinOneYear 2021-03-31 SC307930 core:RetainedEarningsAccumulatedLosses 2021-03-31 SC307930 core:RetainedEarningsAccumulatedLosses 2020-03-31 SC307930 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC307930 core:RetainedEarningsAccumulatedLosses 2021-03-31 SC307930 core:ShareCapital 2022-03-31 SC307930 core:ShareCapital 2021-03-31 SC307930 bus:SmallEntities 2021-04-01 2022-03-31 SC307930 bus:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 SC307930 bus:FullAccounts 2021-04-01 2022-03-31 SC307930 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 SC307930 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 SC307930 core:FurnitureFittingsToolsEquipment 2021-03-31 SC307930 core:FurnitureFittingsToolsEquipment 2021-04-01 2022-03-31 SC307930 core:FurnitureFittingsToolsEquipment 2022-03-31

COMPANY REGISTRATION NUMBER: SC307930

MacDonald Clark Consultancy Ltd

Unaudited Financial Statements

31 March 2022

MacDonald Clark Consultancy Ltd

Financial Statements

Year ended 31 March 2022

Contents	Page

Director's report	1

Statement of income and retained earnings	2

Statement of financial position	3

Notes to the financial statements	4

MacDonald Clark Consultancy Ltd

Director's Report

Year ended 31 March 2022

The director presents his report and the unaudited financial statements of the company for the year ended 31 March 2022 .

Director

The director who served the company during the year was as follows:

MacDonald

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 20 March 2023 and signed on behalf of the board by:

MacDonald
Director

Registered office:

130 Toryglen Street

Glasgow

Scotland

G5 0BH

MacDonald Clark Consultancy Ltd

Statement of Income and Retained Earnings

Year ended 31 March 2022

	2022	2021
Note	£	£
Turnover	81,341	83,259

Cost of sales	51,117	48,795
	--------	--------
Gross profit	30,224	34,464

Administrative expenses	11,874	38,131
Other operating income	1,730	31,275
	--------	--------
Operating profit	20,080	27,608

	--------	--------
Profit before taxation	20,080	27,608

Tax on profit	–	–
	--------	--------
Profit for the financial year and total comprehensive income	20,080	27,608
	--------	--------

Retained earnings at the start of the year	4,913	2,551
	--------	--------
Retained earnings at the end of the year	24,993	30,159
	--------	--------

All the activities of the company are from continuing operations.

MacDonald Clark Consultancy Ltd

Statement of Financial Position

31 March 2022

	2022	2021
Note	£	£

Fixed assets

Tangible assets	5	3,131	3,218

Current assets

Cash at bank and in hand	23,352	7,084

Creditors: amounts falling due within one year	6	1,489	( 19,858)
		--------	--------
Net current assets		21,863	26,942
		--------	--------
Total assets less current liabilities		24,994	30,160
		--------	--------
Net assets		24,994	30,160
		--------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	24,993	30,159
	--------	--------
Shareholders funds	24,994	30,160
	--------	--------

These financial statements have been prepared 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'.

For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 20 March 2023 , and are signed on behalf of the board by:

MacDonald
Director

Company registration number: SC307930

MacDonald Clark Consultancy Ltd

Notes to the Financial Statements

Year ended 31 March 2022

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 130 Toryglen Street, Glasgow, Scotland, UK, G5 0BH.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2021: Nil).

5. Tangible assets

	Equipment
	£
Cost
At 1 April 2021	20,730
Additions	695
	--------
At 31 March 2022	21,425
	--------
Depreciation
At 1 April 2021	17,512
Charge for the year	782
	--------
At 31 March 2022	18,294
	--------
Carrying amount
At 31 March 2022	3,131
	--------
At 31 March 2021	3,218
	--------

6. Creditors: amounts falling due within one year

	2022	2021
	£	£
Corporation tax	3,683	5,246
Other creditors	( 2,194)	( 25,104)
	-------	--------
	1,489	( 19,858)
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