REGISTERED NUMBER: SC089835 (Scotland)

Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 31 March 2025

for

McLanachan Transport Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Income Statement

7

Other Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

D McLanachan

Mrs C M McLanachan

REGISTERED OFFICE:

6 Condor Glen

Holytown

Motherwell

ML1 4UY

REGISTERED NUMBER:

SC089835 (Scotland)

AUDITORS:

O'Haras Accountants Limited (Statutory Auditor)

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

The directors present their strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

We aim to present a balanced and comprehensive review of the development and performance of our company during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our company and is written in the context of the risks and uncertainties we face.

As in previous years the company’s turnover for the financial year arose principally from the running of a haulage company.

We consider that our key financial performance indicators are those that communicate the financial performance and strength of the company as a whole, these being turnover and gross margin.

Turnover and gross margin has decreased on the previous year due to a short term contract coming to an end. The company continues to renew its fleet and increase if necessary.

PRINCIPAL RISKS AND UNCERTAINTIES

As for many businesses of our size the business environment in which we trade continues to be challenging. We are also subject to inflationary rises and tax hikes in fuel duty.

With these risks and uncertainties in mind, we are aware that any future plans for developing the business may be subject to unforeseen future events outwith our control. We have tried to mitigate these risks by building up cash reserves.

ON BEHALF OF THE BOARD:

D McLanachan - Director

19 December 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

DIVIDENDS

All dividends paid are interim dividends. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 31 March 2025 will be £75,000.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

D McLanachan

Mrs C M McLanachan

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

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 judgements 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 are sufficient to show and explain the company's transactions and 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. They 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, O'Haras Accountants Limited (Statutory Auditor), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D McLanachan - Director

19 December 2025

Opinion

We have audited the financial statements of McLanachan Transport Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the motor industry in which it operates. We made enquiries of management as to whether there were any known or suspected instances of non-compliance with laws and regulations or fraud, and reviewed available board minutes for any indication of such matters.

We gained an understanding of management's internal controls designed to prevent and detect irregularities in their day-to-day operations.

We considered the company’s revenue recognition policy and performed substantive tests to confirm the completeness of revenue reported.

We considered laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, UK GAAP, the Companies Act 2006 and UK tax legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement components.Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of relevant third parties.

We considered how fraud might occur in this company and designed our tests accordingly.

We performed audit work to address the risk of management override of internal controls, including reviewing journals, reviewing for large or unusual items and transactions out with the normal course of business, and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

John O'Hara CA (Senior Statutory Auditor)

for and on behalf of O'Haras Accountants Limited (Statutory Auditor)

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

19 December 2025

REVENUE

8,336,918

12,516,978

Cost of sales

6,801,366

8,913,374

GROSS PROFIT

1,535,552

3,603,604

Administrative expenses

1,156,435

624,886

OPERATING PROFIT

3

379,117

2,978,718

Interest receivable and similar income

56,051

52,058

435,168

3,030,776

Interest payable and similar expenses

5

7,677

14,677

PROFIT BEFORE TAXATION

427,491

3,016,099

Tax on profit

6

114,079

771,699

PROFIT FOR THE FINANCIAL YEAR

313,412

2,244,400

PROFIT FOR THE YEAR

313,412

2,244,400

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

313,412

2,244,400

FIXED ASSETS

Property, plant and equipment

8

1,303,950

1,674,691

Investments

9

1

1

1,303,951

1,674,692

CURRENT ASSETS

Debtors

10

8,298,181

7,870,200

Cash at bank

1,698,954

2,581,107

9,997,135

10,451,307

CREDITORS

Amounts falling due within one year

11

984,800

2,326,095

NET CURRENT ASSETS

9,012,335

8,125,212

TOTAL ASSETS LESS CURRENT LIABILITIES

10,316,286

9,799,904

CREDITORS

Amounts falling due after more than one year

12

(342,789

)

-

PROVISIONS FOR LIABILITIES

14

(281,186

)

(346,005

)

NET ASSETS

9,692,311

9,453,899

CAPITAL AND RESERVES

Called up share capital

15

900

900

Capital redemption reserve

16

100

100

Retained earnings

16

9,691,311

9,452,899

SHAREHOLDERS' FUNDS

9,692,311

9,453,899

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2025 and were signed on its behalf by:

D McLanachan - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2023

900

7,610,545

100

7,611,545

Changes in equity

Dividends

-

(402,046

)

-

(402,046

)

Total comprehensive income

-

2,244,400

-

2,244,400

Balance at 31 March 2024

900

9,452,899

100

9,453,899

Changes in equity

Dividends

-

(75,000

)

-

(75,000

)

Total comprehensive income

-

313,412

-

313,412

Balance at 31 March 2025

900

9,691,311

100

9,692,311

Cash flows from operating activities

Cash generated from operations

1

564,742

4,871,967

Interest element of hire purchase payments paid

(7,677

)

(14,677

)

Tax paid

(943,157

)

(755,279

)

Net cash from operating activities

(386,092

)

4,102,011

Cash flows from investing activities

Purchase of tangible fixed assets

(568,407

)

(629,551

)

Sale of tangible fixed assets

178,539

34,849

Interest received

56,051

52,058

Net cash from investing activities

(333,817

)

(542,644

)

Cash flows from financing activities

New loans in year

734,548

-

Capital repayments in year

(115,189

)

(352,795

)

Amount introduced by directors

-

546

Amount withdrawn by directors

7,529

-

New loan to related company

(714,132

)

(6,323,450

)

Equity dividends paid

(75,000

)

(402,046

)

Net cash from financing activities

(162,244

)

(7,077,745

)

Decrease in cash and cash equivalents

(882,153

)

(3,518,378

)

Cash and cash equivalents at beginning of year

2

2,581,107

6,099,485

Cash and cash equivalents at end of year

2

1,698,954

2,581,107

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

427,491

3,016,099

Depreciation charges

822,820

780,882

Profit on disposal of fixed assets

(62,211

)

(9,237

)

Finance costs

7,677

14,677

Finance income

(56,051

)

(52,058

)

1,139,726

3,750,363

Decrease in trade and other debtors

286,151

704,599

(Decrease)/increase in trade and other creditors

(861,135

)

417,005

Cash generated from operations

564,742

4,871,967

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

1,698,954

2,581,107

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

2,581,107

6,099,485

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank

2,581,107

(882,153

)

1,698,954

2,581,107

(882,153

)

1,698,954

Debt

Finance leases

(17,249

)

(619,359

)

(636,608

)

(17,249

)

(619,359

)

(636,608

)

Total

2,563,858

(1,501,512

)

1,062,346

1.	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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Critical accounting judgements and key sources of estimation uncertainty

No significant judgements have had to be made by management in preparing these financial statements.

Revenue

Revenue represents the amounts derived from the provision of haulage transportation services excluding value added tax and trade discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Improvements to property

-

10% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% reducing balance/4yr straight line

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Impairment of fixed assets

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

2.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,807,107

2,032,698

Social security costs

164,381

188,453

Other pension costs

25,383

101,331

1,996,871

2,322,482

The average number of employees during the year was as follows:

2025

2024

Staff

43

46

2025

2024

£

£

Directors' remuneration

22,000

22,000

3.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025

2024

£

£

Hire of plant and machinery

-

871

Other operating leases

140,000

48,000

Depreciation - owned assets

822,820

780,883

Profit on disposal of fixed assets

(62,211

)

(9,237

)

Auditors' remuneration

10,000

10,000

Foreign exchange differences

59,323

(96,792

)

4.	EXCEPTIONAL ITEMS

2025

2024

£

£

Other interest

300

475

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Hire purchase

7,677

14,677

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

178,898

803,978

Deferred tax

(64,819

)

(32,279

)

Tax on profit

114,079

771,699

7.

DIVIDENDS

2025

2024

£

£

Ordinary shares of £1 each

Interim

75,000

402,046

8.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2024

427,607

237,084

32,668

Additions

-

75,535

21,648

Disposals

(427,607

)

-

-

At 31 March 2025

-

312,619

54,316

DEPRECIATION

At 1 April 2024

311,279

141,397

8,026

Charge for year

-

40,926

10,523

Eliminated on disposal

(311,279

)

-

-

At 31 March 2025

-

182,323

18,549

NET BOOK VALUE

At 31 March 2025

-

130,296

35,767

At 31 March 2024

116,328

95,687

24,642

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

5,276,038

45,930

6,019,327

Additions

471,224

-

568,407

Disposals

(96,835

)

-

(524,442

)

At 31 March 2025

5,650,427

45,930

6,063,292

DEPRECIATION

At 1 April 2024

3,849,428

34,506

4,344,636

Charge for year

768,515

2,856

822,820

Eliminated on disposal

(96,835

)

-

(408,114

)

At 31 March 2025

4,521,108

37,362

4,759,342

NET BOOK VALUE

At 31 March 2025

1,129,319

8,568

1,303,950

At 31 March 2024

1,426,610

11,424

1,674,691

Included in the fixed assets are assets held under hire purchase contracts. In respect of these leases, deprecation of £41,851 has been charged and the assets have a net book value of £359,914.