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REGISTERED NUMBER:
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BRUCE MACKENZIE LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017 |
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REGISTERED NUMBER:
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BRUCE MACKENZIE LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017 |
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BRUCE MACKENZIE LIMITED (REGISTERED NUMBER: SC157265) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 June 2017 |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 6 |
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BRUCE MACKENZIE LIMITED |
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COMPANY INFORMATION |
for the year ended 30 June 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Redwood |
19 Culduthel Road |
Inverness |
IV2 4AA |
BRUCE MACKENZIE LIMITED (REGISTERED NUMBER: SC157265) |
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BALANCE SHEET |
30 June 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Allotted, called up and fully |
paid share capital |
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Retained earnings |
- distributable |
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SHAREHOLDERS' FUNDS |
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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. |
BRUCE MACKENZIE LIMITED (REGISTERED NUMBER: SC157265) |
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BALANCE SHEET - continued |
30 June 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director on
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BRUCE MACKENZIE LIMITED (REGISTERED NUMBER: SC157265) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 June 2017 |
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1. | STATUTORY INFORMATION |
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Bruce MacKenzie Limited is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are prepared in sterling, which is the functional currency of the entity. |
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Transition to FRS 102 |
The entity transitioned from previous UK GAAP to FRS 102 as at 1 July 2015 and these are the first |
financial statements that comply with FRS 102. No transitional arrangements were required in equity or |
profit or loss for the year. |
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Turnover |
Turnover represents net invoiced sales of fish, excluding value added tax, undertaken wholly in the UK. |
Fish sales are recognised at the point of sale. |
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Tangible fixed assets |
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Vessel and gear | - |
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Fixtures and equipment | - |
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Motor vehicles | - |
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Office equipment | - |
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Fixed assets are stated at cost, being purchase price, less accumulated depreciation. |
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Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) |
for the current or past reporting periods. It is measured at the amount expected to be paid or recovered |
using the tax rates and laws that have been enacted or substantively enacted by the balance sheet |
date. |
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Deferred tax represents the future tax consequences of transactions and events recognised in the |
financial statements of current and previous periods. It is recognised in respect of all timing |
differences, with certain exceptions. Timing differences are differences between taxable profits and |
total comprehensive income as stated in the financial statements that arise from the inclusion of |
income and expense in tax assessments in periods different from those in which they are recognised |
in the financial statements. 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. |
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Deferred tax is measured using the tax rates and laws that have been enacted or substantively |
enacted by the balance sheet date that are expected to apply to the reversal of timing differences. |
Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is |
measured using the rates and allowances that apply to the sale of the asset. |
BRUCE MACKENZIE LIMITED (REGISTERED NUMBER: SC157265) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
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Debtors/creditors receivable/payable within one year |
Debtors and creditors with no stated interest and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in |
other administrative expenses. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Vessel | and | Motor | Office |
and gear | equipment | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2016 |
and 30 June 2017 |
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DEPRECIATION |
At 1 July 2016 |
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Charge for year |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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BRUCE MACKENZIE LIMITED (REGISTERED NUMBER: SC157265) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2017 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | PROVISIONS FOR LIABILITIES |
2017 | 2016 |
£ | £ |
Deferred tax | 1,162 | 2,344 |
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Deferred |
tax |
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Balance at 1 July 2016 |
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Profit and loss credit | (1,182 | ) |
Balance at 30 June 2017 |
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The deferred tax charge consists of accelerated capital allowances. |
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8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 June 2017 and |
30 June 2016: |
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2017 | 2016 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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The above loan was repaid in full on 7 November 2017. |