REGISTERED NUMBER: SC719546 (Scotland)

MARAS Contracts Ltd

Financial Statements For The Year Ended 31 January 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

R Sutherland

A Steele

REGISTERED OFFICE:

Park House Centre

South Street

Elgin

Moray

IV30 1JB

REGISTERED NUMBER:

SC719546 (Scotland)

ACCOUNTANTS:

The Long Partnership

Park House Centre

South Street

Elgin

IV30 1JB

FIXED ASSETS

Tangible assets

4

39,311

4,873

CURRENT ASSETS

Stocks

11,476

6,208

Debtors

5

11,642

26,551

Cash at bank

8,950

12,745

32,068

45,504

CREDITORS

Amounts falling due within one year

6

12,679

14,057

NET CURRENT ASSETS

19,389

31,447

TOTAL ASSETS LESS CURRENT LIABILITIES

58,700

36,320

CREDITORS

Amounts falling due after more than one year

7

(16,796

)

-

PROVISIONS FOR LIABILITIES

8

(7,469

)

(1,022

)

NET ASSETS

34,435

35,298

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

34,335

35,198

SHAREHOLDERS' FUNDS

34,435

35,298

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

R Sutherland - Director

1.	STATUTORY INFORMATION

MARAS Contracts 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 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.

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Equipment

-

20% on reducing balance

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 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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 February 2024

5,341

Additions

39,477

At 31 January 2025

44,818

DEPRECIATION

At 1 February 2024

468

Charge for year

5,039

At 31 January 2025

5,507

NET BOOK VALUE

At 31 January 2025

39,311

At 31 January 2024

4,873

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

Equipment

£

COST

Additions

29,995

At 31 January 2025

29,995

DEPRECIATION

Charge for year

3,524

At 31 January 2025

3,524

NET BOOK VALUE

At 31 January 2025

26,471

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

6,457

23,768

Other debtors

5,185

2,783

11,642

26,551

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Hire purchase contracts

4,799

-

Taxation and social security

203

12,744

Other creditors

7,677

1,313

12,679

14,057

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Hire purchase contracts

16,796

-

8.	PROVISIONS FOR LIABILITIES

31.1.25

31.1.24

£

£

Deferred tax

7,469

1,022

Deferred

tax

£

Balance at 1 February 2024

1,022

Charge to Income Statement during year

6,447

Balance at 31 January 2025

7,469

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.25

31.1.24

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 February 2024

35,198

Profit for the year

10,165

Dividends

(11,028

)

At 31 January 2025

34,335

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £11,028 (2024 - £28,500) were paid to the directors .

R Sutherland and A Steele

are directors in the company

Included in other creditors is an interest free directors loan. There are no repayment terms.

31.1.25

31.1.24

£

£

Amount due to related party at the balance sheet date

4,718

114

12.	ULTIMATE CONTROLLING PARTY

The company is under the joint control of R Sutherland and A Steele.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MARAS Contracts Ltd for the year ended 31 January 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of MARAS Contracts Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MARAS Contracts Ltd and state those matters that we have agreed to state to the Board of Directors of MARAS Contracts Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MARAS Contracts Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that MARAS Contracts Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MARAS Contracts Ltd. You consider that MARAS Contracts Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of MARAS Contracts Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Long Partnership

Park House Centre

South Street

Elgin

IV30 1JB

26 September 2025