Mackenzie Investment Strategies Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC387740 (Scotland)

Financial Statements for the Period 1 January 2018 to 30 June 2018

for

Mackenzie Investment Strategies Ltd.

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D W Mackenzie

P L Billingham

Mrs A Paton-MacKenzie

J MacDonald

I J G Scott

REGISTERED OFFICE:

Ormiston

38 Crown Drive

Inverness

IV2 3QG

REGISTERED NUMBER:

SC387740 (Scotland)

ACCOUNTANTS:

Highland Accountancy Practice

Chartered Accountants

Suite 1A, Willow House

Stoneyfield Business Park

Inverness

Highland

IV2 7PA

FIXED ASSETS

Tangible assets

4

20,427

44,204

Investments

5

-

40,000

20,427

84,204

CURRENT ASSETS

Debtors

162,487

124,788

Cash at bank

1,215,847

678,447

1,378,334

803,235

CREDITORS

Amounts falling due within one year

310,322

229,689

NET CURRENT ASSETS

1,068,012

573,546

TOTAL ASSETS LESS CURRENT LIABILITIES

1,088,439

657,750

CREDITORS

Amounts falling due after more than one year

-

(27,809

)

PROVISIONS FOR LIABILITIES

(565

)

(696

)

NET ASSETS

1,087,874

629,245

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,087,774

629,145

SHAREHOLDERS' FUNDS

1,087,874

629,245

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2018 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 30 June 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 25 July 2018 and were signed on its behalf by:

D W Mackenzie - Director

1.	STATUTORY INFORMATION

Mackenzie Investment Strategies Ltd. is a private company, limited by shares , registered in Scotland. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" 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 cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Tenants Improvements

-

10% on cost

Fixtures and Fittings

-

20% on cost

Motor Vehicles

-

25% on reducing balance

Computer Equipment

-

33% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation,

impairment losses, and reversals of impairment losses (where applicable).

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the

timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 17 (2017 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2018

159,130

Disposals

(71,561

)

At 30 June 2018

87,569

DEPRECIATION

At 1 January 2018

114,926

Charge for period

6,844

Eliminated on disposal

(54,628

)

At 30 June 2018

67,142

NET BOOK VALUE

At 30 June 2018

20,427

At 31 December 2017

44,204

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 January 2018

24,470

Disposals

(24,470

)

At 30 June 2018

-

DEPRECIATION

At 1 January 2018

10,706

Eliminated on disposal

(10,706

)

At 30 June 2018

-

NET BOOK VALUE

At 30 June 2018

-

At 31 December 2017

13,764

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2018

40,000

Disposals

(40,000

)

At 30 June 2018

-

NET BOOK VALUE

At 30 June 2018

-

At 31 December 2017

40,000

6.	ULTIMATE CONTROLLING PARTY

The controlling party is D W Mackenzie.