REGISTERED NUMBER: SC377015 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Mackinnon Fencing & Groundworks Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Mackinnon

REGISTERED OFFICE:

Second Floor

Airbles House

270 Airbles Road

Motherwell

ML1 3AT

REGISTERED NUMBER:

SC377015 (Scotland)

ACCOUNTANTS:

Accountants Plus

Chartered Certified Accountants

Second Floor

Airbles House

270 Airbles Road

Motherwell

ML1 3AT

FIXED ASSETS

Tangible assets

4

234,962

235,019

CURRENT ASSETS

Stocks

104,971

69,589

Debtors

5

260,467

231,120

Prepayments and accrued income

10,798

9,434

Cash at bank

284,960

392,147

661,196

702,290

CREDITORS

Amounts falling due within one year

6

180,879

230,394

NET CURRENT ASSETS

480,317

471,896

TOTAL ASSETS LESS CURRENT LIABILITIES

715,279

706,915

CREDITORS

Amounts falling due after more than one year

7

(72,341

)

(101,126

)

PROVISIONS FOR LIABILITIES

(54,042

)

(58,755

)

NET ASSETS

588,896

547,034

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

588,892

547,030

588,896

547,034

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 director acknowledges his 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 director and authorised for issue on 17 July 2025 and were signed by:

J Mackinnon - Director

1.	STATUTORY INFORMATION

Mackinnon Fencing & Groundworks 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.

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

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.

Plant and machinery

-

20% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and bank balances

Cash and bank balances are measured at the transaction price.

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

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

Pension costs and other post-retirement benefits

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2024

124,231

373,495

497,726

Additions

4,438

64,304

68,742

Disposals

(2,822

)

(22,917

)

(25,739

)

At 31 March 2025

125,847

414,882

540,729

DEPRECIATION

At 1 April 2024

59,995

202,712

262,707

Charge for year

12,690

45,285

57,975

Eliminated on disposal

(1,666

)

(13,249

)

(14,915

)

At 31 March 2025

71,019

234,748

305,767

NET BOOK VALUE

At 31 March 2025

54,828

180,134

234,962

At 31 March 2024

64,236

170,783

235,019

5.

DEBTORS

31.3.25

31.3.24

£

£

Amounts falling due within one year:

Trade debtors

145,147

148,121

Taxation recoverable

-

16,410

VAT

106,560

66,589

251,707

231,120

Amounts falling due after more than one year:

Trade debtors

8,760

-

Aggregate amounts

260,467

231,120

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

28,785

30,957

Trade creditors

58,263

94,405

Corporation tax

35,861

60,371

Social security and other taxes

20,102

9,559

Pension payable

314

451

Wages payable

5,354

5,096

Credit card

1,786

3,361

Directors' current accounts

27,453

23,884

Accrued expenses

2,961

2,310

180,879

230,394

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

72,341

101,126

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Hire purchase contracts

101,126

132,083

Hire purchase creditors are secured over the assets being financed.