REGISTERED NUMBER: SC249741 (Scotland)

Financial Statements for the Year Ended 31st March 2025

for

T. McKie Limited

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTOR:

Mrs A C McKie

REGISTERED OFFICE:

Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

REGISTERED NUMBER:

SC249741 (Scotland)

ACCOUNTANTS:

Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

11,345

215,000

Investment property

6

550,000

550,000

561,345

765,000

CURRENT ASSETS

Stocks

-

20,000

Debtors

7

16,984

266,215

Cash at bank

1,341,718

1,415,449

1,358,702

1,701,664

CREDITORS

Amounts falling due within one year

8

(26,765

)

(158,787

)

NET CURRENT ASSETS

1,331,937

1,542,877

TOTAL ASSETS LESS CURRENT LIABILITIES

1,893,282

2,307,877

PROVISIONS FOR LIABILITIES

(36,318

)

(36,318

)

NET ASSETS

1,856,964

2,271,559

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Revaluation reserve

9

345,000

345,000

Retained earnings

1,510,964

1,925,559

SHAREHOLDERS' FUNDS

1,856,964

2,271,559

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 3rd September 2025 and were signed by:

Mrs A C McKie - Director

1.	STATUTORY INFORMATION

T. McKie Limited 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.

The trading address of the company is Deans Park, Irongray Road, Dumfries, DG2 0HS.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents the net invoiced sales of tarmacadam contracting services during the period under review, excluding value added tax, as adjusted for work in progress at the period end.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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.

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.

Financial instruments

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Borrowings

Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies

Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2024

and 31st March 2025

30,000

AMORTISATION

At 1st April 2024

and 31st March 2025

30,000

NET BOOK VALUE

At 31st March 2025

-

At 31st March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st April 2024

12,080

1,326,580

1,338,660

Disposals

-

(1,310,880

)

(1,310,880

)

At 31st March 2025

12,080

15,700

27,780

DEPRECIATION

At 1st April 2024

4,085

1,119,575

1,123,660

Charge for year

160

1,175

1,335

Eliminated on disposal

-

(1,108,560

)

(1,108,560

)

At 31st March 2025

4,245

12,190

16,435

NET BOOK VALUE

At 31st March 2025

7,835

3,510

11,345

At 31st March 2024

7,995

207,005

215,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2024

and 31st March 2025

550,000

NET BOOK VALUE

At 31st March 2025

550,000

At 31st March 2024

550,000

The directors consider the fair value of the property to not be significantly different from the previous year so the property has been valued accordingly.

Fair value at 31st March 2025 is represented by:

£

Valuation in 2017

4,942

Valuation in 2024

345,000

Cost

200,058

550,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

265,942

Other debtors

16,984

273

16,984

266,215

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

4,786

90,928

Taxation and social security

7,069

48,962

Other creditors

14,910

18,897

26,765

158,787

9.

RESERVES

Revaluation

reserve

£

At 1st April 2024

and 31st March 2025

345,000

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £117,000 (2024 - £2,000) were paid to the directors .

The company operates directors' current accounts. As at 31st March 2025, the company owed the sum of £659 (2024 - £4,647). This sum is interest free and repayable on demand.