Silverfin false false 31/03/2025 01/04/2024 31/03/2025 Nadine Maclean 18/12/2019 Alan Maclean 18/12/2019 Darren Maclean 18/12/2019 Avril Maclean 18/12/2019 John Maclean 17/09/2015 26 September 2025 The principal activity of the Company during the financial year was that of property ownership and rental. SC515810 2025-03-31 SC515810 bus:Director1 2025-03-31 SC515810 bus:Director2 2025-03-31 SC515810 bus:Director3 2025-03-31 SC515810 bus:Director4 2025-03-31 SC515810 bus:Director5 2025-03-31 SC515810 2024-03-31 SC515810 core:CurrentFinancialInstruments 2025-03-31 SC515810 core:CurrentFinancialInstruments 2024-03-31 SC515810 core:Non-currentFinancialInstruments 2025-03-31 SC515810 core:Non-currentFinancialInstruments 2024-03-31 SC515810 core:ShareCapital 2025-03-31 SC515810 core:ShareCapital 2024-03-31 SC515810 core:RetainedEarningsAccumulatedLosses 2025-03-31 SC515810 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC515810 core:OtherPropertyPlantEquipment 2024-03-31 SC515810 core:OtherPropertyPlantEquipment 2025-03-31 SC515810 core:RemainingRelatedParties core:CurrentFinancialInstruments 2025-03-31 SC515810 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-03-31 SC515810 core:MoreThanFiveYears 2025-03-31 SC515810 core:MoreThanFiveYears 2024-03-31 SC515810 2023-03-31 SC515810 bus:OrdinaryShareClass1 2025-03-31 SC515810 2024-04-01 2025-03-31 SC515810 bus:FilletedAccounts 2024-04-01 2025-03-31 SC515810 bus:SmallEntities 2024-04-01 2025-03-31 SC515810 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 SC515810 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC515810 bus:Director1 2024-04-01 2025-03-31 SC515810 bus:Director2 2024-04-01 2025-03-31 SC515810 bus:Director3 2024-04-01 2025-03-31 SC515810 bus:Director4 2024-04-01 2025-03-31 SC515810 bus:Director5 2024-04-01 2025-03-31 SC515810 core:OtherPropertyPlantEquipment core:TopRangeValue 2024-04-01 2025-03-31 SC515810 2023-04-01 2024-03-31 SC515810 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 SC515810 core:CurrentFinancialInstruments 2024-04-01 2025-03-31 SC515810 core:Non-currentFinancialInstruments 2024-04-01 2025-03-31 SC515810 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 SC515810 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC515810 (Scotland)

# MACLEAN PROPERTIES LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH THE REGISTRAR

MACLEAN PROPERTIES LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

Contents

MACLEAN PROPERTIES LIMITED

## BALANCE SHEET

AS AT 31 MARCH 2025
MACLEAN PROPERTIES LIMITED

## BALANCE SHEET (continued)

AS AT 31 MARCH 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 49,525 |  | 54,375
Investment property | 4 | 7,036,074 |  | 5,000,000
|  | 7,085,599 |  | 5,054,375
Current assets |  |  |  |
Debtors | 5 | 92,698 |  | 96,229
Cash at bank and in hand |  | 56,689 |  | 11,072
|  | 149,387 |  | 107,301
Creditors: amounts falling due within one year | 6 | ( 1,819,776) |  | ( 3,622,680)
Net current liabilities |  | (1,670,389) |  | (3,515,379)
Total assets less current liabilities |  | 5,415,210 |  | 1,538,996
Creditors: amounts falling due after more than one year | 7 | ( 4,480,995) |  | ( 761,404)
Provision for liabilities | 8, 9 | ( 153,777) |  | ( 156,301)
Net assets |  | 780,438 |  | 621,291
Capital and reserves |  |  |  |
Called-up share capital | 10 | 102 |  | 102
Profit and loss account |  | 780,336 |  | 621,189
Total shareholders' funds |  | 780,438 |  | 621,291

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 Maclean Properties Limited (registered number: SC515810) were approved and authorised for issue by the Board of Directors on 26 September 2025. They were signed on its behalf by:

John Maclean Director |

MACLEAN PROPERTIES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
MACLEAN PROPERTIES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

##### 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

Maclean Properties 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 Unit 1 Greenhill Business Park, Tore, IV6 7AG, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the investment properties and 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

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover represents amounts receivable for rental income net of VAT and is recognised on an accruals basis.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, 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 or valuation, 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 etc. | 10 years straight line

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.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The fair value is determined annually by the directors, on an open market value for existing use basis.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

##### 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 and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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, bank loans, loans from fellow group companies 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 5 |  | 5

#### 3. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2024 | 112,500 |  | 112,500
Additions | 6,400 |  | 6,400
At 31 March 2025 | 118,900 |  | 118,900
Accumulated depreciation |  |  |
At 01 April 2024 | 58,125 |  | 58,125
Charge for the financial year | 11,250 |  | 11,250
At 31 March 2025 | 69,375 |  | 69,375
Net book value |  |  |
At 31 March 2025 | 49,525 |  | 49,525
At 31 March 2024 | 54,375 |  | 54,375

#### 4. Investment property

| Investment property
| £
Valuation |
As at 01 April 2024 | 5,000,000
Additions | 2,036,074
As at 31 March 2025 | 7,036,074

Valuation

On 21 August 2023 the company's investment property was valued by Graham & Sibbald Chartered Surveyors at an open market value of £5,000,000. Further properties were purchased in the year to 31 March 2025 for a consideration of £2,036,074 which the directors - along with the values referenced above - deem to be appropriate fair values of the company's investment property at 31 March 2025.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

| 2025 |  | 2024
| £ |  | £
Historic cost | 6,835,947 |  | 4,799,873

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 84,277 |  | 90,000
Other debtors | 8,421 |  | 6,229
| 92,698 |  | 96,229

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 205,062 |  | 512,976
Trade creditors | 7,680 |  | 0
Amounts owed to related parties | 0 |  | 1,527,331
Taxation and social security | 86,545 |  | 58,161
Other creditors | 1,520,489 |  | 1,524,212
| 1,819,776 |  | 3,622,680

Bank loans of £4,686,058 (2024 - £1,274,380) are subject to standard security and floating charges over the assets of the company. The connected company Ord Industrial & Commercial Supplies Limited has also provided security in the form of a standard security and floating bond and charge over their own company assets as well as a £4,684,582 guarantee. Also, the director loan balance has agreed to be subordinated as part of the loan agreement security.

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

| 2025 |  | 2024
| £ |  | £
Bank loans | 4,480,995 |  | 761,404

Details of the bank loan security are included in the creditors: amounts falling due within one year note.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

| 2025 |  | 2024
| £ |  | £
Bank loans | 3,526,224 |  | 0

#### 8. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 153,777 |  | 156,301

#### 9. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 156,301) |  | ( 120,926)
Credited/(charged) to the Profit and Loss Account | 2,524 |  | ( 35,375)
At the end of financial year | ( 153,777) |  | ( 156,301)

#### 10. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
102 Ordinary shares of £ 1.00 each | 102 |  | 102

#### 11. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Amounts owed to key management personnel | 1,517,364 |  | 1,517,364

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Amounts owed to other related parties | 0 |  | 1,527,331
Transactions with other related parties - purchases | 1,950,000 |  | 0

Other related parties comprise of other business interests controlled by the directors.