REGISTERED NUMBER: SC052203 (Scotland)

Financial Statements for the Year Ended 31 March 2025

for

William MacKay (Precast) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W Mackay

C H Mackay

SECRETARY:

Mrs E Sutherland

REGISTERED OFFICE:

Cairns Quarry

Stirkoke

By Wick

Caithness

KW1 5SD

REGISTERED NUMBER:

SC052203 (Scotland)

ACCOUNTANTS:

Reid & Fraser

Chartered Accountants

92 High Street

Wick

Caithness

KW1 4LY

BANKERS:

The Royal Bank of Scotland plc

Thurso (B) Branch

11 Olrig Street

Thurso

Caithness

KW14 7BL

SOLICITORS:

Munro & Noble

22 Bridge Street

Wick

Caithness

KW1 4NG

FIXED ASSETS

Tangible assets

4

111,808

125,620

CURRENT ASSETS

Stocks

74,069

75,084

Debtors

5

43,389

35,200

Cash in hand

776

1,529

118,234

111,813

CREDITORS

Amounts falling due within one year

6

(167,309

)

(168,446

)

NET CURRENT LIABILITIES

(49,075

)

(56,633

)

TOTAL ASSETS LESS CURRENT LIABILITIES

62,733

68,987

CREDITORS

Amounts falling due after more than one year

7

(66,104

)

(83,835

)

NET LIABILITIES

(3,371

)

(14,848

)

CAPITAL AND RESERVES

Called up share capital

8,000

8,000

Retained earnings

(11,371

)

(22,848

)

SHAREHOLDERS' FUNDS

(3,371

)

(14,848

)

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 3 December 2025 and were signed on its behalf by:

W Mackay - Director

1.	STATUTORY INFORMATION

William MacKay (Precast) 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.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% straight line

Plant and machinery

-

15% reducing balance

Motor vehicles

-

25% reducing balance

STOCKS

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

HIRE PURCHASE AND LEASING COMMITMENTS

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

GOVERNMENT GRANTS

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

DEFERRED TAX

Deferred tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amount in the balance sheet. It is provided using the tax rates that are expected to apply in the period when the asset or liability is settled, based on the rates that have been enacted or substantively enacted at the balance sheet date.

Deferred tax assets are recognised to the extent that it is probable that future taxable profits will be available against which temporary differences can be utilised.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

138,425

681,702

126,544

946,671

Additions

-

693

-

693

At 31 March 2025

138,425

682,395

126,544

947,364

DEPRECIATION

At 1 April 2024

80,650

628,472

111,929

821,051

Charge for year

2,769

8,083

3,653

14,505

At 31 March 2025

83,419

636,555

115,582

835,556

NET BOOK VALUE

At 31 March 2025

55,006

45,840

10,962

111,808

At 31 March 2024

57,775

53,230

14,615

125,620

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

21,495

14,978

36,473

DEPRECIATION

At 1 April 2024

13,389

6,553

19,942

Charge for year

1,216

2,106

3,322

At 31 March 2025

14,605

8,659

23,264

NET BOOK VALUE

At 31 March 2025

6,890

6,319

13,209

At 31 March 2024

8,106

8,425

16,531

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

43,389

35,200

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

62,199

57,654

Hire purchase contracts

3,014

3,014

Trade creditors

26,203

25,164

Other creditors

75,893

82,614

167,309

168,446

The company has granted a Bond and Floating Charge over its assets in favour of the company's bankers.

Other creditors include £14,885 (2024 - £16,049) in respect of taxation and social security.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

60,578

75,294

Hire purchase contracts

5,526

8,541

66,104

83,835

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

36,571

36,599

Bank loans

86,206

96,349

122,777

132,948

9.	ULTIMATE CONTROLLING PARTY

The controlling party is W Mackay.

10.	GOING CONCERN

The directors are aware that the company is technically insolvent but are of the opinion that it will remain a going concern with their continued financial support.