Company No: SC448431 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.03.2025		31.03.2024
		£		£
Fixed assets
Tangible assets	4	3,187,821		3,259,002
		3,187,821		3,259,002
Current assets
Stocks		108,500		83,500
Debtors	5	257,042		91,650
Cash at bank and in hand		88,418		126,192
		453,960		301,342
Creditors: amounts falling due within one year	6	( 1,638,161)		( 1,593,055)
Net current liabilities		(1,184,201)		(1,291,713)
Total assets less current liabilities		2,003,620		1,967,289
Creditors: amounts falling due after more than one year	7	( 1,472,826)		( 1,497,792)
Provision for liabilities	8	( 201,684)		( 182,693)
Net assets		329,110		286,804
Capital and reserves
Called-up share capital	9	150		150
Profit and loss account		328,960		286,654
Total shareholders' funds		329,110		286,804

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 members have 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 Profit and Loss Account has not been delivered.

The financial statements of Clockeasy Contracting Limited (registered number: SC448431) were approved and authorised for issue by the Board of Directors on 12 December 2025. They were signed on its behalf by:

W I Dean Director

W A S Dean Director

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

Clockeasy Contracting 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 Wester Clockeasy, Urquhart, IV30 8LP, 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 £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Although the company had net current liabilities of £1,184,201 at the year-end, the directors have agreed to financially support the company and not seek repayment of amounts due to them until such time as the company has sufficient cash resources to do so. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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.

Intangible assets

Intangible assets are stated at cost, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost of each asset over its expected useful life as follows:

Goodwill

10 years straight line

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 freehold land and properties, 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:

Land and buildings	20 years straight line
Plant and machinery	20 % reducing balance
	12 years straight line
Vehicles	25 % 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 Profit and Loss Account 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

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 creditors and bank loans, 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 01.05.2023 to 31.03.2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2024	130,000		130,000
At 31 March 2025	130,000		130,000
Accumulated amortisation
At 01 April 2024	130,000		130,000
At 31 March 2025	130,000		130,000
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 April 2024	1,672,558		3,249,907		1,102,918		6,025,383
Additions	0		102,787		215,000		317,787
Disposals	0		0		( 137,543)		( 137,543)
At 31 March 2025	1,672,558		3,352,694		1,180,375		6,205,627
Accumulated depreciation
At 01 April 2024	24,307		2,051,589		690,485		2,766,381
Charge for the financial year	3,288		263,178		103,108		369,574
Disposals	0		0		( 118,149)		( 118,149)
At 31 March 2025	27,595		2,314,767		675,444		3,017,806
Net book value
At 31 March 2025	1,644,963		1,037,927		504,931		3,187,821
At 31 March 2024	1,648,251		1,198,318		412,433		3,259,002

5. Debtors

	31.03.2025		31.03.2024
	£		£
Trade debtors	244,568		91,650
Other debtors	12,474		0
	257,042		91,650

6. Creditors: amounts falling due within one year

	31.03.2025		31.03.2024
	£		£
Bank loans	122,062		118,346
Trade creditors	9,336		18,249
Amounts owed to related parties	1,168,347		1,078,221
Other taxation and social security	0		1,938
Obligations under finance leases and hire purchase contracts	39,000		76,568
Other creditors	299,416		299,733
	1,638,161		1,593,055

The bank loans are secured by fixed charges over the company's assets.

Amounts due under finance leases and hire purchase contracts are secured over the asset that the agreements relate to.

7. Creditors: amounts falling due after more than one year

	31.03.2025		31.03.2024
	£		£
Bank loans	1,433,826		1,497,792
Obligations under finance leases and hire purchase contracts	39,000		0
	1,472,826		1,497,792

The bank loans are secured by fixed charges over the company assets.

Amounts due under finance leases and hire purchase contracts are secured over the asset that the agreements relate to.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	31.03.2025		31.03.2024
	£		£
Bank loans (repayable by instalments)	865,505		946,773

8. Provision for liabilities

	31.03.2025		31.03.2024
	£		£
Deferred tax	201,684		182,693

9. Called-up share capital

	31.03.2025		31.03.2024
	£		£
Allotted, called-up and fully-paid
150 Ordinary shares of £ 1.00 each	150		150

10. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	31.03.2025		31.03.2024
	£		£
Amounts owed to other related parties	1,168,347		1,078,221

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 owed to key management personnel	283,537		284,593

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