REGISTERED NUMBER: SC656615 (Scotland)

Financial Statements for the Year Ended 31 March 2025

for

Mackay Marine Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M C Gaskin

P L Collins

K S Gaskin

REGISTERED OFFICE:

6 Raik Road

Aberdeen

AB11 5QL

REGISTERED NUMBER:

SC656615 (Scotland)

ACCOUNTANTS:

J M Taylor

5 Rubislaw Terrace

ABERDEEN

AB10 1XE

FIXED ASSETS

Intangible assets

4

1,789

3,133

Tangible assets

5

48,982

60,457

50,771

63,590

CURRENT ASSETS

Stocks

50,822

69,594

Debtors

6

169,890

125,030

Cash at bank and in hand

130,677

181,593

351,389

376,217

CREDITORS

Amounts falling due within one year

7

207,885

230,666

NET CURRENT ASSETS

143,504

145,551

TOTAL ASSETS LESS CURRENT LIABILITIES

194,275

209,141

CREDITORS

Amounts falling due after more than one year

8

(12,004

)

(32,310

)

PROVISIONS FOR LIABILITIES

9

(11,750

)

(13,924

)

NET ASSETS

170,521

162,907

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

170,421

162,807

SHAREHOLDERS' FUNDS

170,521

162,907

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 10 September 2025 and were signed on its behalf by:

M C Gaskin - Director

1.	STATUTORY INFORMATION

Mackay Marine Services Limited 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc

-

25% on cost and 20% on cost

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.

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 6 (2024 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

6,717

AMORTISATION

At 1 April 2024

3,584

Charge for year

1,344

At 31 March 2025

4,928

NET BOOK VALUE

At 31 March 2025

1,789

At 31 March 2024

3,133

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

139,517

Additions

18,623

At 31 March 2025

158,140

DEPRECIATION

At 1 April 2024

79,060

Charge for year

30,098

At 31 March 2025

109,158

NET BOOK VALUE

At 31 March 2025

48,982

At 31 March 2024

60,457

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

159,063

99,615

Other debtors

10,827

25,415

169,890

125,030

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

18,519

18,519

Hire purchase contracts

13,985

11,926

Trade creditors

70,458

80,211

Amounts owed to group undertakings

5,254

11,087

Taxation and social security

20,616

49,641

Other creditors

79,053

59,282

207,885

230,666

The bank loan is secured by a partial guarantee provided by the Enterprise Finance Guarantee Scheme and a floating charge over all property and assets of the company.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

-

22,222

Hire purchase contracts

12,004

10,088

12,004

32,310

9.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

11,750

13,924

Deferred

tax

£

Balance at 1 April 2024

13,924

Accelerated capital allowances

(2,174

)

Balance at 31 March 2025

11,750

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary

£1

100

100

11.	RELATED PARTY DISCLOSURES

KSG Global Consulting Limited

At the year end, KSG Global Consulting Limited, a company controlled by director Keith Gaskin, is due £5,254 (2024 - £11,087). The loan is unsecured, repayable on demand and an interest rate of 5% per annum is charged.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the directors by virtue of their shareholding.