REGISTERED NUMBER: SC620096 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

N D MACASKILL & SON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Norman Douglas MacAskill

Alexander MacAskill

Jessie Anne Macsween

REGISTERED OFFICE:

R A Clement Associates

5 Argyll Square

OBAN

PA34 4AZ

REGISTERED NUMBER:

SC620096 (Scotland)

ACCOUNTANTS:

R A Clement Associates

5 Argyll Square

OBAN

Argyll

PA34 4AZ

FIXED ASSETS

Tangible assets

4

330,806

298,750

CURRENT ASSETS

Stocks

35,080

32,000

Debtors

5

91,804

109,391

126,884

141,391

CREDITORS

Amounts falling due within one year

6

376,645

364,353

NET CURRENT LIABILITIES

(249,761

)

(222,962

)

TOTAL ASSETS LESS CURRENT LIABILITIES

81,045

75,788

CREDITORS

Amounts falling due after more than one year

7

52,963

61,962

NET ASSETS

28,082

13,826

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

27,982

13,726

SHAREHOLDERS' FUNDS

28,082

13,826

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 17 December 2025 and were signed on its behalf by:

Norman Douglas MacAskill - Director

1.	STATUTORY INFORMATION

N D MacAskill & Son 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.

Improvements to property

-

6.67% on cost

Plant and machinery

-

10% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 April 2024

129,495

281,885

965

412,345

Additions

-

59,800

-

59,800

At 31 March 2025

129,495

341,685

965

472,145

DEPRECIATION

At 1 April 2024

7,638

105,635

322

113,595

Charge for year

3,819

23,603

322

27,744

At 31 March 2025

11,457

129,238

644

141,339

NET BOOK VALUE

At 31 March 2025

118,038

212,447

321

330,806

At 31 March 2024

121,857

176,250

643

298,750

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

Plant and

machinery

£

COST

At 1 April 2024

269,300

Additions

58,300

At 31 March 2025

327,600

DEPRECIATION

At 1 April 2024

101,869

Charge for year

22,573

At 31 March 2025

124,442

NET BOOK VALUE

At 31 March 2025

203,158

At 31 March 2024

167,431

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

85,826

76,418

Other debtors

5,978

32,973

91,804

109,391

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

122,534

110,827

Hire purchase contracts

39,507

32,669

Trade creditors

134,033

160,332

Taxation and social security

24,487

867

Other creditors

56,084

59,658

376,645

364,353

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

45,463

44,462

Other creditors

7,500

17,500

52,963

61,962

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

122,534

110,827

The Bank of Scotland PLC hold a floating charge over all the assets of the Company.