| Registered Number:SC254247 |
For the year ended 31 August 2017
Scotland
Unaudited Financial Statements
For the year ended 31 August 2017
A & F MacKinnon Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
A & F MacKinnon Limited
Statement of Financial Position
2016
2017
| Property, plant and equipment |
79,084
82,792
3
79,084
82,792
3,600
3,825
4
| Trade and other receivables |
17,143
14,247
5
1,807
| Cash and cash equivalents |
631
18,703
22,550
| Trade and other payables: amounts falling due within one |
| year |
(32,827)
(28,677)
6
(10,277)
(9,974)
Net current liabilities
| Total assets less current liabilities |
69,110
72,515
69,110
Net assets
72,515
2
2
69,108
72,513
69,110
72,515
Shareholders' funds
| For the year ended 31 August 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 in accordance with Section 476 of the Companies Act 2006 |
| The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| These financial statements were approved and authorised for issue by the Board on 14 May 2018 and were signed by: |
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For the year ended 31 August 2017
A & F MacKinnon Limited
Statement of Financial Position Continued
| The notes form part of these financial statements |
2 of 5
For the year ended 31 August 2017
A & F MacKinnon Limited
Notes to the Financial Statements
Statutory Information
| A & F MacKinnon Limited is a private limited company, limited by shares, domiciled in Scotland, registration |
| number SC254247. |
| Principal place of business: |
54 Gordon Street
Glasgow
G1 3PU
54 Gordon Street
Glasgow
G1 3PU
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
| Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and |
| the Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
| modified by the revaluation of certain assets. |
Revenue recognition
Turnover comprises the invoiced value of services supplied by the company, net of value added tax.
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 10 years. |
Intangible assets
| Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. |
Property, plant and equipment
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Land and buildings
Fixtures and fittings
Inventories
| Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
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For the year ended 31 August 2017
A & F MacKinnon Limited
Notes to the Financial Statements Continued
| 2. Intangible fixed assets |
Goodwill
38,000
38,000
38,000
38,000
-
-
| 3. Property, plant and equipment |
146,654
25,324
121,330
1,908
1,908
-
121,330
27,232
148,562
| Provision for depreciation and impairment |
63,862
25,038
38,824
Charge for year
5,616
763
4,853
69,478
25,801
43,677
77,653
1,431
79,084
82,506
286
82,792
2016
2017
3,825
3,600
4 of 5
For the year ended 31 August 2017
A & F MacKinnon Limited
Notes to the Financial Statements Continued
| 5. Trade and other receivables |
2016
2017
10,711
17,143
3,536
-
17,143
14,247
| 6. Trade and other payables: amounts falling due within one year |
2016
2017
-
1,135
5,609
7,222
| Taxation and social security |
15,627
17,330
7,441
7,140
28,677
32,827
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