Company No: SC519380 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	169,694		161,215
Investments	4	1		1
		169,695		161,216
Current assets
Debtors	5	3,415,199		3,439,244
Cash at bank and in hand		34,108		8,267
		3,449,307		3,447,511
Creditors: amounts falling due within one year	6	( 36,064)		( 143,114)
Net current assets		3,413,243		3,304,397
Total assets less current liabilities		3,582,938		3,465,613
Creditors: amounts falling due after more than one year	7	( 4,354,200)		( 4,144,200)
Net liabilities		( 771,262)		( 678,587)
Capital and reserves
Called-up share capital	8	19,800		19,800
Profit and loss account		( 791,062 )		( 698,387 )
Total shareholders' deficit		( 771,262)		( 678,587)

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of McGregor Tech Holdings Limited (registered number: SC519380) were approved and authorised for issue by the Board of Directors on 01 September 2025. They were signed on its behalf by:

Glynn McGregor Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

McGregor Tech Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Johnston Carmichael, Bishops Court, 29 Albyn Place, Aberdeen, AB10 1YL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

At the year end the company had a total net liabilities of £771,262. The preference shares held as debt are deemed to be payable after 1 year. The directors have agreed to defer redemption of the £4,354,200 of preference shares until such a time that there are funds to do so. The directors will also continue to support the company to ensure that all liabilities are met as they fall due therefore they believe it to be appropriate that these financial statements are prepared on the going concern basis.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	20 % reducing balance
Vehicles	20 % reducing balance
Office equipment	20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and comprise of deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors, loans to fellow group companies and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Tangible assets

	Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£
Cost
At 01 April 2024	310,776		30,000		85,247		426,023
Additions	47,275		7,299		10,073		64,647
Disposals	( 18,000)		0		( 2,249)		( 20,249)
At 31 March 2025	340,051		37,299		93,071		470,421
Accumulated depreciation
At 01 April 2024	200,235		13,040		51,533		264,808
Charge for the financial year	25,024		4,487		7,709		37,220
Disposals	( 900)		0		( 401)		( 1,301)
At 31 March 2025	224,359		17,527		58,841		300,727
Net book value
At 31 March 2025	115,692		19,772		34,230		169,694
At 31 March 2024	110,541		16,960		33,714		161,215

4. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 April 2024	1
At 31 March 2025	1
Carrying value at 31 March 2025	1
Carrying value at 31 March 2024	1

5. Debtors

	2025		2024
	£		£
Amounts owed by Group undertakings	3,401,746		3,427,603
Other debtors	13,453		11,641
	3,415,199		3,439,244

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	5,768		3,170
Other creditors	30,296		139,944
	36,064		143,114

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Other creditors	4,354,200		4,144,200

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
19,800 Ordinary shares of £ 1.00 each	19,800		19,800

9. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	2025		2024
	£		£
Amounts Owed By Related Parties	3,401,746		3,427,603

The above amounts owed by related parties is interest free and is repayable upon demand.

Transactions with the entity's directors

	2025		2024
	£		£
Amounts Owed To Key Management Personnel	25,695		135,695

The above loans from key management personnel are interest free and have no fixed terms of repayment.