Moffat Projects (Fife) Ltd

Moffat Projects (Fife) Ltd
Directors' Report
For the year ended 31 March 2025

Director's report and financial statements

The directors present his/her/their annual report and the financial statements for the year ended 31 March 2025

Principal activities

The companys principal activity during the year was that of electrical contractors.

Directors

The directors who served the company throughout the year were as follows:

Andrew McIndoe

Craig Cummings Moffat

Clare Kathleen Moffat

Scott Mcinnes

David Booth

Lindsey Baxter

Mark McDonald

Margaret Byrne

Statement of directors' responsibilities

The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to

select suitable accounting policies and then apply them consistently
make judgments and accounting estimates that are reasonable and prudent
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business

The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:

----------------------------------
Andrew McIndoe
Director

Date approved: 09 December 2025

Registered Number: SC369812 Moffat Projects (Fife) Ltd
Balance Sheet
As at 31 March 2025

	Notes	2025 £	2024 £
Fixed assets
Intangible fixed assets	3	1,199,992	-
Tangible fixed assets	4	543,100	479,812
		1,743,092	479,812
Current assets
Stocks	5	59,990	-
Debtors	6	894,530	1,913,008
Cash at bank and in hand		711,969	1,331,643
		1,666,489	3,244,651
Creditors: amount falling due within one year	7	(1,276,871)	(1,370,951)
Net current assets		389,618	1,873,700

Total assets less current liabilities		2,132,710	2,353,512
Creditors: amount falling due after more than one year	8	(296,650)	(155,834)
Provisions for liabilities	9	(87,512)	(80,151)
Net assets		1,748,548	2,117,527

Capital and reserves
Called up share capital	10	100	100
Profit and loss account		1,748,448	2,117,427
Shareholders' funds		1,748,548	2,117,527

For the 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question 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 accounts.

These 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 profit and loss account has not been delivered to the Registrar of Companies.

The financial statements were approved by the board of directors on 09 December 2025 and were signed on its behalf by:

-------------------------------
Andrew McIndoe
Director

Moffat Projects (Fife) Ltd
Statement of Changes in Equity
For the year ended 31 March 2025

	Equity share capital	Retained Earnings	Total
	£	£	£
At 01 April 2023	100	2,116,309	2,116,409
Profit for the year		459,118	459,118
Total comprehensive income for the year	-	459,118	459,118
Dividends		(458,000)	(458,000)
Total investments by and distributions to owners	-	(458,000)	(458,000)
At 31 March 2024	100	2,117,427	2,117,527
At 01 April 2024	100	2,117,427	2,117,527
Profit for the year		221,021	221,021
Total comprehensive income for the year	-	221,021	221,021
Dividends		(590,000)	(590,000)
Total investments by and distributions to owners	-	(590,000)	(590,000)
At 31 March 2025	100	1,748,448	1,748,548

Moffat Projects (Fife) Ltd
Notes to the Financial Statements
For the year ended 31 March 2025

General Information

Moffat Projects (Fife) Ltd is a private company, limited by shares, registered in Scotland, registration number SC369812, registration address 26 Dickson Street, Elgin Industrial Estate, Dunfermline, Fife, KY12 7SN.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Government grants

Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Operating lease rentals

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Finance lease and hire purchase charges

The finance element of the rental payment is charged to the profit and loss account on a straight line basis.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.

Dividends

Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.

Intangible assets

Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and machinery etc

25% RB

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

2.	Average number of employees Average number of employees during the year was 46 (2024 : 36).

Intangible fixed assets

Cost	Other	Total
	£	£
At 01 April 2024	-	-
Additions	1,199,992	1,199,992
Disposals	-	-
At 31 March 2025	1,199,992	1,199,992
Amortisation
At 01 April 2024	-	-
Charge for year	-	-
On disposals	-	-
At 31 March 2025	-	-
Net book values
At 31 March 2025	1,199,992	1,199,992
At 31 March 2024	-	-

Tangible fixed assets

Cost or valuation	Plant and machinery etc	Total
	£	£
At 01 April 2024	887,340	887,340
Additions	321,835	321,835
Disposals	(156,180)	(156,180)
At 31 March 2025	1,052,995	1,052,995
Depreciation
At 01 April 2024	407,528	407,528
Charge for year	177,400	177,400
On disposals	(75,033)	(75,033)
At 31 March 2025	509,895	509,895
Net book values
Closing balance as at 31 March 2025	543,100	543,100
Opening balance as at 01 April 2024	479,812	479,812

Stocks

	2025 £		2024 £
Stocks	59,990		-
	59,990		-

Debtors: amounts falling due within one year

	2025 £	2024 £
Trade Debtors	716,645	908,174
Amount Owed by Group Undertakings	177,885	1,004,834
	894,530	1,913,008

Creditors: amount falling due within one year

	2025 £	2024 £
Trade Creditors	713,256	771,533
Bank Loans & Overdrafts	50,000	50,000
Taxation and Social Security	348,374	396,925
Obligations under HP/Financial Leases	66,901	39,620
Other Creditors	98,340	112,873
	1,276,871	1,370,951

Creditors: amount falling due after more than one year

	2025 £	2024 £
Bank Loans & Overdrafts	29,166	79,167
Obligations under HP/Financial Leases	267,484	76,667
	296,650	155,834

Provisions for liabilities

	2025 £		2024 £
Deferred Tax	87,512		80,151
	87,512		80,151

10.

Share Capital

Allotted, called up and fully paid	2025 £		2024 £
100 Class A shares of £1.00 each	100		100
	100		100


Registered Number: SC369812
Scotland
MOFFAT PROJECTS (FIFE) LTD

Unaudited Financial Statements

Period of accounts Start date: 01 April 2024 End date: 31 March 2025