Registration number: SC658444

MacLeod Estates Ltd

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

MacLeod Estates Ltd

(Registration number: SC658444)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	12,875	14,375
Tangible assets	5	5,586	5,773
		18,461	20,148
Current assets
Stocks	6	16,450	15,950
Cash at bank and in hand		-	17,262
		16,450	33,212
Creditors: Amounts falling due within one year	7	(181,826)	(96,930)
Net current liabilities		(165,376)	(63,718)
Net liabilities		(146,915)	(43,570)
Capital and reserves
Called up share capital		2	2
Retained earnings		(146,917)	(43,572)
Shareholders' deficit		(146,915)	(43,570)

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.

Director's responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 31 December 2025
 

MacLeod Estates Ltd

(Registration number: SC658444)
Statement of Financial Position as at 31 March 2025

......................................... Gary MacLeod Director

MacLeod Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
The Bein Inn
Glenfarg
Perth
PH2 9PY

These financial statements were authorised for issue by the director on 31 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

MacLeod Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Equipment	25% Straight Line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Rent Premium	10% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

MacLeod Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3	Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 9 (2024 - 12).

MacLeod Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
At 1 April 2024	15,000	15,000
At 31 March 2025	15,000	15,000
Amortisation
At 1 April 2024	625	625
Amortisation charge	1,500	1,500
At 31 March 2025	2,125	2,125
Carrying amount
At 31 March 2025	12,875	12,875
At 31 March 2024	14,375	14,375

MacLeod Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2024	6,217	6,217
Additions	1,644	1,644
At 31 March 2025	7,861	7,861
Depreciation
At 1 April 2024	444	444
Charge for the year	1,831	1,831
At 31 March 2025	2,275	2,275
Carrying amount
At 31 March 2025	5,586	5,586
At 31 March 2024	5,773	5,773

6

Stocks

	2025 £	2024 £
Other inventories	16,450	15,950

7

Creditors

Creditors: amounts falling due within one year

MacLeod Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	1,568	-
Trade creditors		2,768	19,885
Taxation and social security		33,325	14,246
Accruals and deferred income		5,366	3,850
Other creditors		138,799	58,949
		181,826	96,930

8	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank overdrafts	1,568	-