REGISTERED NUMBER: SC194220 (Scotland)

DUNCAN MACKAY AND SONS LIMITED

Financial Statements for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I H Mackay

M M Mackay

REGISTERED OFFICE:

Parkend Industrial Estate

Sandwick

Isle of Lewis

HS2 0AN

REGISTERED NUMBER:

SC194220 (Scotland)

ACCOUNTANTS:

Mann Judd Gordon Ltd

Chartered Accountants

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

2,453,153

2,746,104

Investments

7

173,835

173,835

2,626,988

2,919,939

CURRENT ASSETS

Stocks

8

265,250

344,000

Debtors

9

2,571,763

952,173

Cash at bank and in hand

146,169

560,318

2,983,182

1,856,491

CREDITORS

Amounts falling due within one year

10

720,545

448,494

NET CURRENT ASSETS

2,262,637

1,407,997

TOTAL ASSETS LESS CURRENT LIABILITIES

4,889,625

4,327,936

CREDITORS

Amounts falling due after more than one year

11

(15,206

)

(60,825

)

PROVISIONS FOR LIABILITIES

(600,599

)

(431,954

)

NET ASSETS

4,273,820

3,835,157

CAPITAL AND RESERVES

Called up share capital

1,200

1,200

Retained earnings

4,272,620

3,833,957

SHAREHOLDERS' FUNDS

4,273,820

3,835,157

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 June 2025 and were signed on its behalf by:

I H Mackay - Director

1.	STATUTORY INFORMATION

Duncan Mackay and Sons 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 presentation currency of the financial statements is the Pound Sterling (£).

The financial statements are rounded to the nearest £1.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The area of the accounts subjected to significant judgements and estimates is fixed asset depreciation, where the charge to the profit and loss account and the carrying value in the balance sheet is governed by the directors estimate of useful economic life and residual value of the assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 ten 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

not provided

Plant and machinery

-

15% depreciation on reducing balance

Motor vehicles

-

25% depreciation on reducing balance

Office equipment

-

20% depreciation on cost

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2024 - 43 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

125,000

AMORTISATION

At 1 April 2024

and 31 March 2025

125,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

6.	TANGIBLE FIXED ASSETS

Land and

Plant and

Motor

Office

buildings

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

398,820

4,602,810

1,227,502

10,912

6,240,044

Additions

-

502,490

217,354

10,539

730,383

Disposals

(391,080

)

(49,900

)

(65,549

)

-

(506,529

)

At 31 March 2025

7,740

5,055,400

1,379,307

21,451

6,463,898

DEPRECIATION

At 1 April 2024

-

2,682,787

802,434

8,719

3,493,940

Charge for year

-

435,108

133,275

1,141

569,524

Eliminated on disposal

-

(17,926

)

(34,793

)

-

(52,719

)

At 31 March 2025

-

3,099,969

900,916

9,860

4,010,745

NET BOOK VALUE

At 31 March 2025

7,740

1,955,431

478,391

11,591

2,453,153

At 31 March 2024

398,820

1,920,023

425,068

2,193

2,746,104

Land and buildings is not depreciated in the accounts as the directors are satisfied that the market value of the land and buildings exceeds the amount stated in the company accounts.

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

Plant and

machinery

£

COST

At 1 April 2024

and 31 March 2025

202,750

DEPRECIATION

At 1 April 2024

67,583

Charge for year

27,034

At 31 March 2025

94,617

NET BOOK VALUE

At 31 March 2025

108,133

At 31 March 2024

135,167

7.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

173,835

NET BOOK VALUE

At 31 March 2025

173,835

At 31 March 2024

173,835

8.

STOCKS

31.3.25

31.3.24

£

£

Work-in-progress

223,000

294,500

Stock

42,250

49,500

265,250

344,000

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

1,432,212

642,864

Other debtors

5,200

2,902

Amounts owed by group undertakings

260,165

296,165

Retentions

119,186

10,242

Prepayments and accrued income

755,000

-

2,571,763

952,173

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

45,619

45,619

Trade creditors

321,407

303,775

Tax

200,714

8,523

Social security and other taxes

62,385

52,848

Pensions payable

2,625

5,010

VAT

53,242

71

Other creditors

1,216

4,002

Directors' current accounts

25,587

19,021

Accrued expenses

7,750

9,625

720,545

448,494

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

15,206

60,825

12.	SECURED DEBTS

The Royal Bank of Scotland has a bond and floating charge on all property and assets present and future of the company.

13.	RELATED PARTY DISCLOSURES

There are loans of £25,587 (2024 : £19,021) from directors. There are no repayment terms in place and no interest is being charged.

14.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.