Company registration number SC344109 (Scotland)
MCTAGGART CIVILS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
MCTAGGART CIVILS LIMITED
COMPANY INFORMATION
Directors
G Climson
A T Anderson
Company number
SC344109
Registered office
Tod House
Templand Road
Dalry
Ayrshire
United Kingdom
KA24 5EU
Accountants
Azets
Titanium 1
King's Inch Place
Renfrew
United Kingdom
PA4 8WF
MCTAGGART CIVILS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MCTAGGART CIVILS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
-
-
Creditors: amounts falling due within one year
3
(1,583,993)
(1,585,519)
Net current liabilities
(1,583,993)
(1,585,519)
Capital and reserves
Called up share capital
4
100
100
Profit and loss reserves
(1,584,093)
(1,585,619)
Total equity
(1,583,993)
(1,585,519)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 31 October 2025 and are signed on its behalf by:
A T Anderson
Director
Company Registration No. SC344109
MCTAGGART CIVILS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

McTaggart Civils Limited is a private company limited by shares incorporated in Scotland. The registered office is Tod House, Templand Road, Dalry, Ayrshire, United Kingdom, KA24 5EU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has received a letter of support from McTaggart Construction Limited stating that it will continue to provide financial support for a period of at least 12 months from the date the financial statements were signed. The directors therefore consider it appropriate to prepare the financial statements on the going concern basis.true

1.3
Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

MCTAGGART CIVILS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Classification of financial liabilities

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.

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 paymen ts 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. A m ounts 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.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

MCTAGGART CIVILS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
3
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
1,583,993
1,584,152
Trade creditors
-
0
1,367
1,583,993
1,585,519
4
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100

There is one class of share capital. There are no restrictions with regards to voting rights, dividends or distributions.

5
Related party transactions

There is an unlimited inter-company guarantee between the company, McTaggart Group Limited, McTaggart Construction Limited and other related party entities in favour of the bank.

6
Controlling party

The company was under the control of J R McTaggart throughout the year under review.

2025-03-31 2024-04-01 false false false CCH Software CCH Accounts Production 2025.300 No description of principal activity G Climson A T Anderson SC344109 2024-04-01 2025-03-31 SC344109 bus:Director1 2024-04-01 2025-03-31 SC344109 bus:Director2 2024-04-01 2025-03-31 SC344109 bus:RegisteredOffice 2024-04-01 2025-03-31 SC344109 2025-03-31 SC344109 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 SC344109 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 SC344109 core:CurrentFinancialInstruments 2025-03-31 SC344109 core:CurrentFinancialInstruments 2024-03-31 SC344109 2024-03-31 SC344109 core:ShareCapital 2025-03-31 SC344109 core:ShareCapital 2024-03-31 SC344109 core:RetainedEarningsAccumulatedLosses 2025-03-31 SC344109 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC344109 core:ShareCapitalOrdinaryShareClass1 2025-03-31 SC344109 core:ShareCapitalOrdinaryShareClass1 2024-03-31 SC344109 2023-04-01 2024-03-31 SC344109 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 SC344109 bus:OrdinaryShareClass1 2025-03-31 SC344109 bus:OrdinaryShareClass1 2024-03-31 SC344109 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC344109 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 SC344109 bus:FRS102 2024-04-01 2025-03-31 SC344109 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 SC344109 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP