ITM MECHANICAL SERVICES LIMITED


Director	Iain Alexander Headrick McDonald


Company Secretary	Julie Dawn McDonald


Registered Address	Unit 1 Mountfleurie Industrial Estate
	Windygates Road
	Leven
	KY8 4AX


Registered Number	SC368381 (Scotland)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		280,784		280,496
			280,784		280,496
Current assets
Stocks		151,860		130,900
Debtors	4	464,071		571,841
Cash at bank and on hand		342,050		405,223
		957,981		1,107,964
Creditors amounts falling due within one year	5	(249,446)		(312,745)
Net current assets (liabilities)			708,535		795,219
Total assets less current liabilities			989,319		1,075,715
Creditors amounts falling due after one year	6		(127,460)		(146,652)
Provisions for liabilities			(53,349)		(70,124)
Net assets			808,510		858,939
Capital and reserves
Called up share capital			26		26
Other reserves			(55,374)		(55,374)
Profit and loss account			863,858		914,287
Shareholders' funds			808,510		858,939

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 30 September 2025, and are signed on its behalf by:

Iain Alexander Headrick McDonald
Director
Registered Company No. SC368381

ITM MECHANICAL SERVICES LIMITED

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Employee benefits
	The company operates a defined contribution pension scheme. Contributions payable to the companys pension scheme are charged to profit or loss in the period to which they relate.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 

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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. 

Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixed assets are stated at cost, being purchase price, less accumulated depreciation.


		Straight line (years)
	Plant and machinery	5
	Fixtures and fittings	5
	Vehicles	4
	Office Equipment	4

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Finance leases and hire purchase contracts

Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

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

	Stocks and work in progress
	Stock and work in progress are valued at the lower of cost and net realisable value.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	12		14

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 April 24	475,524	341,050	9,165	5,623	831,362
Additions	9,227	102,433	-	3,206	114,866
Disposals	(983)	(22,675)	-	-	(23,658)
At 31 March 25	483,768	420,808	9,165	8,829	922,570
Depreciation and impairment
At 01 April 24	425,387	120,595	3,363	1,521	550,866
Charge for year	20,226	86,282	1,448	1,684	109,640
On disposals	(40)	(18,680)	-	-	(18,720)
At 31 March 25	445,573	188,197	4,811	3,205	641,786
Net book value
At 31 March 25	38,195	232,611	4,354	5,624	280,784
At 31 March 24	50,137	220,455	5,802	4,102	280,496

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	146,615	137,412
Other debtors	305,524	425,981
Prepayments and accrued income	11,932	8,448
Total	464,071	571,841

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	102,950	56,653
Bank borrowings and overdrafts	16,364	16,364
Taxation and social security	37,758	167,138
Finance lease and HP contracts	81,092	67,756
Other creditors	5,012	769
Accrued liabilities and deferred income	6,270	4,065
Total	249,446	312,745

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	2,727	19,091
Other creditors	124,733	127,561
Total	127,460	146,652


	The bank hold a floating charge over all assets of the company.