REGISTERED NUMBER: SC067061 (Scotland)

Financial Statements for the Year Ended 31 March 2025

for

J. McCaughey Properties Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J S McCaughey

Miss S J McCaughey

SECRETARY:

Mrs I McCaughey

REGISTERED OFFICE:

Stuartfield

18 Francis Street

Wick

Caithness

KW1 5PZ

REGISTERED NUMBER:

SC067061 (Scotland)

ACCOUNTANTS:

Reid & Fraser

Chartered Accountants

92 High Street

Wick

Caithness

KW1 4LY

SOLICITORS:

BBM Solicitors

Unit 5B

Wick Business Park

Wick

Caithness

KW1 4QR

FIXED ASSETS

Tangible assets

4

2,394

3,193

Investment property

5

121,117

121,117

123,511

124,310

CURRENT ASSETS

Prepayments and accrued income

2,000

1,450

Cash at bank

765

39,924

2,765

41,374

CREDITORS

Amounts falling due within one year

6

(14,948

)

(35,990

)

NET CURRENT (LIABILITIES)/ASSETS

(12,183

)

5,384

TOTAL ASSETS LESS CURRENT LIABILITIES

111,328

129,694

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

101,328

119,694

SHAREHOLDERS' FUNDS

111,328

129,694

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2025 and were signed on its behalf by:

J S McCaughey - Director

1.	STATUTORY INFORMATION

J. McCaughey Properties 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.

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.

INVESTMENT PROPERTY

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

500

11,880

12,380

DEPRECIATION

At 1 April 2024

125

9,062

9,187

Charge for year

94

705

799

At 31 March 2025

219

9,767

9,986

NET BOOK VALUE

At 31 March 2025

281

2,113

2,394

At 31 March 2024

375

2,818

3,193

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

121,117

NET BOOK VALUE

At 31 March 2025

121,117

At 31 March 2024

121,117

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

750

750

Taxation and social security

2,213

1,571

Other creditors

11,985

33,669

14,948

35,990