Mackie Robertson Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: SC296495 (Scotland)

MACKIE ROBERTSON LIMITED

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

6

DIRECTORS:

A Mackie

Mrs P Mackie

SECRETARY:

Mrs P Mackie

REGISTERED OFFICE:

Unit 5

Carberry Place

Mitchelston Industrial Estate

Kirkcaldy

Fife

KY1 3NQ

REGISTERED NUMBER:

SC296495 (Scotland)

ACCOUNTANTS:

Harley Hepburn

28 Townsend Place

Kirkcaldy

Fife

KY1 1HB

BANKERS:

Bank of Scotland

PO Box 10

Kirkcaldy

Fife

KY1 3PA

FIXED ASSETS

Intangible assets

2

24,000

36,000

Tangible assets

3

16,073

19,680

40,073

55,680

CURRENT ASSETS

Stocks

252,903

160,296

Debtors

24,858

72,758

Cash at bank and in hand

227

102

277,988

233,156

CREDITORS

Amounts falling due within one year

313,975

290,935

NET CURRENT LIABILITIES

(35,987

)

(57,779

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,086

(2,099

)

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

4,084

(2,101

)

SHAREHOLDERS' FUNDS

4,086

(2,099

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 23 July 2014 and were signed on its behalf by:

A Mackie - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net

realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow

moving, obsolete or damaged stock where the net realisable value is less than cost.

Deferred tax

The charge for taxation takes into account taxation deferred as a result of timing differences between the

treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in

respect of all timing differences that have originated but not reversed at the Balance Sheet date. However,

deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that

there will be suitable taxable profits from which the future reversal of the underlying timing differences can be

deducted. Deferred taxation is measured on a non-discounted basis at the average tax rates that are expected to

apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantially

enacted at the Balance Sheet date.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no

commitment to sell the assets.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

120,000

AMORTISATION

At 1 April 2013

84,000

Amortisation for year

12,000

At 31 March 2014

96,000

NET BOOK VALUE

At 31 March 2014

24,000

At 31 March 2013

36,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

59,075

Additions

1,070

Disposals

(1,070

)

At 31 March 2014

59,075

DEPRECIATION

At 1 April 2013

39,395

Charge for year

3,607

At 31 March 2014

43,002

NET BOOK VALUE

At 31 March 2014

16,073

At 31 March 2013

19,680

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary

£1

2

2

5.	RELATED PARTY DISCLOSURES

During the year, total dividends of £3,000 were paid to the directors .

Alex Mackie is also the proprietor of Harmony Building Services. Subcontract work done by Harmony Building

Services during the year amounts to £33,352. There was a creditor balance as at 31 March 2014 of £160.

Included in creditors is a directors current account totalling £89.

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors by virtue of their shareholding in the company.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Mackie Robertson Limited for the year ended 31 March 2014 which comprise the Profit and

Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and

other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of Mackie Robertson Limited, as a body, in accordance with our

terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of

Mackie Robertson Limited and state those matters that we have agreed to state to the Board of Directors of Mackie

Robertson Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered

Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of

Directors, as a body, for our work or for this report.

It is your duty to ensure that Mackie Robertson Limited has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mackie

Robertson Limited. You consider that Mackie Robertson Limited is exempt from the statutory audit requirement for the

year.

We have not been instructed to carry out an audit or a review of the financial statements of Mackie Robertson Limited.

For this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Harley Hepburn

28 Townsend Place

Kirkcaldy

Fife

KY1 1HB

23 July 2014