J & W MCNAE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Company registration number SC646540 (Scotland)
PAGES FOR FILING WITH REGISTRAR
J & W MCNAE LTD
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
£
£
£
£
Fixed assets
339,537
339,379
Current assets
156,207
187,049
Creditors: amounts falling due within one year
(92,881)
(118,479)
Net current assets
63,326
68,570
Total assets less current liabilities
402,863
407,949
Creditors: amounts falling due after more than one year
(255,703)
(318,359)
Net assets
147,160
89,590
Capital and reserves
147,160
89,590
Notes to the financial statements
1
Employees
The average number of persons, including directors, employed by the company during the year was as follows:
2023
2022
Number
Number
Employees
4
5
2
Secured liabilities
Hire purchase obligations of £63,627 (2022 £84,014) are secured over the assets concerned.
3
Related party transactions
Creditors due after more than one year includes the amount of £99,484 (2022 £156,838) due to the company's directors. There are no fixed terms for the repayment of this amount, which does not bear interest.
At 31 March 2023 the company owed its parent companies Basil Watt Tractors Ltd £54,000 (2022 £54,000) and David McNae & Sons Ltd £36,000 (2022 £36,000).
There are no fixed terms for the repayment of these amounts, which are interest free.
J & W McNae Ltd is a private company limited by shares incorporated in Scotland. The registered office is Oakfield House, Yett, Tarbolton, Ayrshire, KA5 5NX.
For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
J & W MCNAE LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
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.
These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 19 December 2023 and are signed on its behalf by:
..............................................
..............................................
Mr David McNae
Mr Basil Watt
Director
Director
..............................................
Mrs Margaret Watt
Director
Company registration number SC646540 (Scotland)