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Company No: SC041960 (Scotland)

# JOHN MACKAY (PLANT) LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH THE REGISTRAR

JOHN MACKAY (PLANT) LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

Contents

JOHN MACKAY (PLANT) LIMITED

## BALANCE SHEET

AS AT 31 MARCH 2025
JOHN MACKAY (PLANT) LIMITED

## BALANCE SHEET (continued)

AS AT 31 MARCH 2025

| Note | 31.03.2025 |  | 31.03.2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 166,408 |  | 208,010
Investment property | 4 | 456,899 |  | 456,899
Investments | 5 | 2 |  | 2
|  | 623,309 |  | 664,911
Current assets |  |  |  |
Debtors | 6 | 736,229 |  | 767,014
Cash at bank and in hand |  | 448,993 |  | 443,222
|  | 1,185,222 |  | 1,210,236
Creditors: amounts falling due within one year | 7 | ( 129,961) |  | ( 139,611)
Net current assets |  | 1,055,261 |  | 1,070,625
Total assets less current liabilities |  | 1,678,570 |  | 1,735,536
Creditors: amounts falling due after more than one year | 8 | ( 144,704) |  | ( 212,700)
Provision for liabilities | 9 | ( 41,263) |  | ( 51,589)
Net assets |  | 1,492,603 |  | 1,471,247
Capital and reserves |  |  |  |
Called-up share capital | 10 | 17,780 |  | 17,780
Capital redemption reserve |  | 2,220 |  | 2,220
Profit and loss account |  | 1,472,603 |  | 1,451,247
Total shareholder's funds |  | 1,492,603 |  | 1,471,247

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

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of John MacKay (Plant) Limited (registered number: SC041960) were approved and authorised for issue by the Board of Directors on 24 November 2025. They were signed on its behalf by:

H M Ross Director |

JOHN MACKAY (PLANT) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
JOHN MACKAY (PLANT) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

##### General information and basis of accounting

John MacKay (Plant) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Lochslin Farm, Fearn, Tain, IV20 1RT, Scotland, United Kingdom.
The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. | 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

##### Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment looses are recognised immediately in the profit or loss.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, 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 payments 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. Amounts 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

#### 2. Employees

| Year ended 31.03.2025 |  | Period from 01.06.2023 to 31.03.2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 3 |  | 3

#### 3. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2024 | 491,291 |  | 491,291
At 31 March 2025 | 491,291 |  | 491,291
Accumulated depreciation |  |  |
At 01 April 2024 | 283,281 |  | 283,281
Charge for the financial year | 41,602 |  | 41,602
At 31 March 2025 | 324,883 |  | 324,883
Net book value |  |  |
At 31 March 2025 | 166,408 |  | 166,408
At 31 March 2024 | 208,010 |  | 208,010

#### 4. Investment property

| Investment property
| £
Valuation |
As at 01 April 2024 | 456,899
As at 31 March 2025 | 456,899

The directors continue to consider the carrying value to represent the fair value of the investment properties as at 31 March 2025. There is no difference between the fair value and the historic cost of the investment properties.

#### 5. Fixed asset investments

| Other investments |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 April 2024 | 2 |  | 2
At 31 March 2025 | 2 |  | 2
Carrying value at 31 March 2025 | 2 |  | 2
Carrying value at 31 March 2024 | 2 |  | 2

#### 6. Debtors

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Trade debtors | 8,199 |  | 41,573
Amounts owed by Group undertakings | 717,350 |  | 717,350
Other debtors | 10,680 |  | 8,091
| 736,229 |  | 767,014

#### 7. Creditors: amounts falling due within one year

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Trade creditors | 9,686 |  | 23,394
Taxation and social security | 29,838 |  | 19,975
Obligations under finance leases and hire purchase contracts | 28,026 |  | 28,158
Other creditors | 62,411 |  | 68,084
| 129,961 |  | 139,611

Obligations in respect of hire purchase agreements are secured against the assets to which they relate.

#### 8. Creditors: amounts falling due after more than one year

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Obligations under finance leases and hire purchase contracts | 32,684 |  | 60,711
Other creditors | 112,020 |  | 151,989
| 144,704 |  | 212,700

Obligations in respect of hire purchase agreements are secured against the assets to which they relate.

#### 9. Provision for liabilities

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Deferred tax | 41,263 |  | 51,589

#### 10. Called-up share capital

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
17,780 Ordinary shares of £ 1.00 each | 17,780 |  | 17,780

#### 11. Related party transactions

Transactions with owners holding a participating interest in the entity

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Amounts due from group undertakings | 717,350 |  | 717,350
Amounts due (to) connected entities | (112,020) |  | (131,239)

The above loans are unsecured, interest free and have no fixed terms of repayment.

Transactions with the entity's directors

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Amounts due (to) key management personnel | (33,993) |  | (39,601)