REGISTERED NUMBER: SC010505 (Scotland)

Financial Statements for the Year Ended 31 March 2025

for

DAVID MACDONALD LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Tangible assets

4

-

-

Investments

5

100

100

Investment property

6

-

1,200,000

100

1,200,100

Current assets

Debtors

7

884,415

870,918

Investments

8

400,637

-

Cash at bank

263,473

69,402

1,548,525

940,320

Creditors

Amounts falling due within one year

9

(49,154

)

(96,649

)

Net current assets

1,499,371

843,671

Total assets less current liabilities

1,499,471

2,043,771

Creditors

Amounts falling due after more than one year

10

-

(598,455

)

Net assets

1,499,471

1,445,316

Capital and reserves

Called up share capital

11

6,682

6,682

Fair value reserve

12

-

1,148,480

Retained earnings

1,492,789

290,154

Shareholders' funds

1,499,471

1,445,316

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 & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2025 and were signed on its behalf by:

M R Macrae - Director

1.	Statutory information

David Macdonald Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number:

SC010505

Registered office:

121 Craigleith Road

Edinburgh

Lothian

EH4 2EH

The presentation currency of the financial statements is the Pound Sterling (£).

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 and other income

Printing consultancy

Turnover from printing consultancy fees is recognised when the service is delivered.

Rental income

Rental income is recognised by reference to the time the tenants occupied the property.

Tangible fixed assets

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

Computer equipment

-

20% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property for which fair value can be measured reliably without undue cost or effort is measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Taxation

Current taxation represents the amount of taxation payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation represents the future taxation consequences of transactions and events recognised in the

financial statements of current and previous periods. It is recognised in respect of all timing differences, with

certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved taxation losses and other deferred taxation assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred taxation liabilities or other future taxable profits.

Deferred taxation is measured using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Leases

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Bank and cash

Cash at bank and in hand includes cash and short term highly liquid investments with a short

maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Investments

Investments in listed shares are measured at fair value at each reporting date, with changes in fair value recognised in profit or loss. Fair value is determined by reference to quoted market prices in an active market at the balance sheet date.

Transaction costs directly attributable to the acquisition of investments are expensed as incurred. Income from investments, including dividends, is recognised when the company’s right to receive payment is established.

Investments are derecognised on the date the company becomes committed to sell them, which is generally when a binding contract of sale is in place. The gain or loss on disposal is the difference between the fair value of the consideration received and the carrying amount of the investment at the date of disposal.

3.	Employees and directors

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

4.	Tangible fixed assets

Computer

equipment

£

Cost

At 1 April 2024

and 31 March 2025

4,103

Depreciation

At 1 April 2024

and 31 March 2025

4,103

Net book value

At 31 March 2025

-

At 31 March 2024

-

5.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 April 2024

and 31 March 2025

100

Net book value

At 31 March 2025

100

At 31 March 2024

100

6.	Investment property

Total

£

Fair value

At 1 April 2024

1,200,000

Disposals

(1,200,000

)

At 31 March 2025

-

Net book value

At 31 March 2025

-

At 31 March 2024

1,200,000

7.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

11,109

15,449

Amounts owed by group undertakings

873,306

853,954

Other debtors

-

1,515

884,415

870,918

8.	Current asset investments

2025

2024

£

£

Listed investments

400,637

-

9.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts

-

12,316

Trade creditors

-

511

Taxation and social security

13,972

55,024

Other creditors

35,182

28,798

49,154

96,649

10.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Bank loans

-

52,230

Other creditors

-

546,225

-

598,455

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

6,682

Ordinary

£1

6,682

6,682

12.

Reserves

Fair

value

reserve

£

At 1 April 2024

1,148,480

Transfer on disposal of investment property

(1,148,480

)

At 31 March 2025

-

13.	Related party disclosures

25 RS Holdco Limited is a wholly owned subsidiary of David Macdonald Limited. David Macdonald Limited leases property from 25 RS Holdco Limited for a nominal rent of £1 per annum.