IRIS Accounts Production v25.4.12.37 SC173168 director 1.1.24 31.12.24 31.12.24 Medium entities Plumbing & electrical contractor true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary share capital 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC173168 2023-12-31 SC173168 2024-12-31 SC173168 2024-01-01 2024-12-31 SC173168 2022-12-31 SC173168 2023-01-01 2023-12-31 SC173168 2023-12-31 SC173168 ns15:Scotland 2024-01-01 2024-12-31 SC173168 ns14:PoundSterling 2024-01-01 2024-12-31 SC173168 ns10:Director1 2024-01-01 2024-12-31 SC173168 ns10:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC173168 ns10:MediumEntities 2024-01-01 2024-12-31 SC173168 ns10:Audited 2024-01-01 2024-12-31 SC173168 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-01-01 2024-12-31 SC173168 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-01-01 2024-12-31 SC173168 ns10:FullAccounts 2024-01-01 2024-12-31 SC173168 ns10:OrdinaryShareClass1 2024-01-01 2024-12-31 SC173168 ns10:RegisteredOffice 2024-01-01 2024-12-31 SC173168 ns5:CurrentFinancialInstruments 2024-12-31 SC173168 ns5:CurrentFinancialInstruments 2023-12-31 SC173168 ns5:Non-currentFinancialInstruments 2024-12-31 SC173168 ns5:Non-currentFinancialInstruments 2023-12-31 SC173168 ns5:ShareCapital 2024-12-31 SC173168 ns5:ShareCapital 2023-12-31 SC173168 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 SC173168 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 SC173168 ns5:ShareCapital 2022-12-31 SC173168 ns5:RetainedEarningsAccumulatedLosses 2022-12-31 SC173168 ns5:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 SC173168 ns5:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 SC173168 ns5:OwnedOrFreeholdAssets ns5:LandBuildings 2024-01-01 2024-12-31 SC173168 ns5:FurnitureFittings 2024-01-01 2024-12-31 SC173168 ns5:MotorVehicles 2024-01-01 2024-12-31 SC173168 1 2024-01-01 2024-12-31 SC173168 ns5:ReportableOperatingSegment1 2024-01-01 2024-12-31 SC173168 ns5:ReportableOperatingSegment1 2023-01-01 2023-12-31 SC173168 ns5:ReportableOperatingSegment2 2024-01-01 2024-12-31 SC173168 ns5:ReportableOperatingSegment2 2023-01-01 2023-12-31 SC173168 ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount 2024-01-01 2024-12-31 SC173168 ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount 2023-01-01 2023-12-31 SC173168 ns5:OwnedAssets 2024-01-01 2024-12-31 SC173168 ns5:OwnedAssets 2023-01-01 2023-12-31 SC173168 ns5:LeasedAssets 2024-01-01 2024-12-31 SC173168 ns5:LeasedAssets 2023-01-01 2023-12-31 SC173168 11 2024-01-01 2024-12-31 SC173168 11 2023-01-01 2023-12-31 SC173168 ns5:HirePurchaseContracts 2024-01-01 2024-12-31 SC173168 ns5:HirePurchaseContracts 2023-01-01 2023-12-31 SC173168 ns5:LandBuildings 2023-12-31 SC173168 ns5:FurnitureFittings 2023-12-31 SC173168 ns5:MotorVehicles 2023-12-31 SC173168 ns5:LandBuildings 2024-01-01 2024-12-31 SC173168 ns5:LandBuildings 2024-12-31 SC173168 ns5:FurnitureFittings 2024-12-31 SC173168 ns5:MotorVehicles 2024-12-31 SC173168 ns5:LandBuildings 2023-12-31 SC173168 ns5:FurnitureFittings 2023-12-31 SC173168 ns5:MotorVehicles 2023-12-31 SC173168 ns5:LeasedAssetsHeldAsLessee ns5:MotorVehicles 2023-12-31 SC173168 ns5:LeasedAssetsHeldAsLessee ns5:MotorVehicles 2024-01-01 2024-12-31 SC173168 ns5:LeasedAssetsHeldAsLessee ns5:MotorVehicles 2024-12-31 SC173168 ns5:LeasedAssetsHeldAsLessee ns5:MotorVehicles 2023-12-31 SC173168 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 SC173168 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2023-12-31 SC173168 ns5:WithinOneYear ns5:CurrentFinancialInstruments ns5:HirePurchaseContracts 2024-12-31 SC173168 ns5:WithinOneYear ns5:CurrentFinancialInstruments ns5:HirePurchaseContracts 2023-12-31 SC173168 ns5:HirePurchaseContracts ns5:BetweenOneFiveYears 2024-12-31 SC173168 ns5:HirePurchaseContracts ns5:BetweenOneFiveYears 2023-12-31 SC173168 ns5:HirePurchaseContracts 2024-12-31 SC173168 ns5:HirePurchaseContracts 2023-12-31 SC173168 ns5:WithinOneYear 2024-12-31 SC173168 ns5:WithinOneYear 2023-12-31 SC173168 ns5:BetweenOneFiveYears 2024-12-31 SC173168 ns5:BetweenOneFiveYears 2023-12-31 SC173168 ns5:MoreThanFiveYears 2024-12-31 SC173168 ns5:MoreThanFiveYears 2023-12-31 SC173168 ns5:AllPeriods 2024-12-31 SC173168 ns5:AllPeriods 2023-12-31 SC173168 ns5:DeferredTaxation 2023-12-31 SC173168 ns5:DeferredTaxation 2024-01-01 2024-12-31 SC173168 ns5:DeferredTaxation 2024-12-31 SC173168 ns10:OrdinaryShareClass1 2024-12-31 SC173168 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 SC173168 1 2024-01-01 2024-12-31

REGISTERED NUMBER: SC173168 (Scotland)

Strategic Report, Report of the Director and

Financial Statements For The Year Ended 31 December 2024

for

Malcolm McArthur & Son Limited

| Malcolm McArthur & Son Limited (Registered number: SC173168) |

Contents of the Financial Statements

For The Year Ended 31 December 2024

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Director | 3 |

| Report of the Independent Auditors | 4 |

| Statement of Comprehensive Income | 8 |

| Statement of Financial Position | 9 |

| Statement of Changes in Equity | 10 |

| Notes to the Financial Statements | 11 |

| Malcolm McArthur & Son Limited |

Company Information

For The Year Ended 31 December 2024

| DIRECTOR: | M McArthur

| REGISTERED OFFICE: | 12 Station Road

| Kilsyth

| G65 0AB

| REGISTERED NUMBER: | SC173168 (Scotland)

| INDEPENDENT AUDITORS: | Robb Ferguson

| Chartered Accountants & Statutory Auditors

| Regent Court

| 70 West Regent Street

| Glasgow

| G2 2QZ

| BANKERS: | Virgin Money PLC

| 110 Cowgate

| Kirkintilloch

| G66 1JU

| Malcolm McArthur & Son Limited (Registered number: SC173168) |

Strategic Report

For The Year Ended 31 December 2024

The director presents his strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS

The principal activity of the company is that of electrical and plumbing contractors.

The results of the year are shown in the Statement of Comprehensive Income.

Turnover decreased 1.9 % compared to the prior year. The company has encountered strong economic headwinds with increased costs in the form of inflationary increases and increased wage costs. This has resulted in a decrease in gross profit margin, from 20% to 17.3%. Despite these challenges, the company is pleased to report pre-tax profits in excess of £650k for the year and it expects to at least maintain current profitability levels into the future.

PRINCIPAL RISKS AND UNCERTAINTIES

The company's operations expose it to a variety of financial risks that include the effects of inflation, changes in credit risk, liquidity risk and competitive risk. The company takes measures to limit the adverse effects of these risks on the financial performance by continuously reviewing the suppliers (product ranges and pricing), monitoring various industry trends and benchmarks as well as available financial information.

FINANCIAL KEY PERFORMANCE INDICATORS

The key financial performance indicators monitored by the director and the company's management team are sales, gross profit margins, overheads, net profit margins, expected levels of cash flow and working capital.

NON-FINANCIAL KEY PERFORMANCE INDICATORS

The director considers that it's equally important to monitor non-financial performance indicators including maintaining good customer relationships, staff welfare, staff retention, quality assurance and compliance with applicable laws and regulations.

ON BEHALF OF THE BOARD:

M McArthur - Director

5 March 2026

| Malcolm McArthur & Son Limited (Registered number: SC173168) |

Report of the Director

For The Year Ended 31 December 2024

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTOR

M McArthur held office during the whole of the period from 1 January 2024 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Robb Ferguson, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M McArthur - Director

5 March 2026

Report of the Independent Auditors to the Members of

Malcolm McArthur & Son Limited

Opinion

We have audited the financial statements of Malcolm McArthur & Son Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and 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 December 2024 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Malcolm McArthur & Son Limited

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 Director.

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 director's remuneration specified by law are not made; or

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

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

Malcolm McArthur & Son Limited

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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our wider knowledge and experience;

- We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and FRS 102.

- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations

Audit response to risks identified

To address the risk of fraud through management bias and override of controls, we:

- Performed analytical procedures to identify any unusual or unexpected relationships;

- Tested journal entries to identify unusual transactions;

- Assessed whether judgements and assumptions made in determining the accounting estimates set out were indicative of potential bias; and

- Investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- Agreeing financial statement disclosures to underlying supporting documentation;

- Enquiring of management as to actual and potential litigation and claims; and

- Requesting correspondence with HMRC, Companies House and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.

Report of the Independent Auditors to the Members of

Malcolm McArthur & Son Limited

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.

Andrew Logan CA (Senior Statutory Auditor)

for and on behalf of Robb Ferguson

Chartered Accountants & Statutory Auditors

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

5 March 2026

| Malcolm McArthur & Son Limited (Registered number: SC173168) |

Statement of Comprehensive

Income

For The Year Ended 31 December 2024

| 2024 |  | 2023

| Notes | £ | £ |

TURNOVER | 4 | 15,306,398 |  | 15,598,992 |  |

Cost of sales | 12,664,375 |  | 12,486,162 |  |

GROSS PROFIT | 2,642,023 |  | 3,112,830 |  |

Administrative expenses | 2,093,792 |  | 1,980,015 |  |

548,231 |  | 1,132,815 |  |

Other operating income | 25,740 |  | 883 |  |

OPERATING PROFIT | 6 | 573,971 |  | 1,133,698 |  |

Interest receivable and similar income | 71,203 |  | 23,143 |  |

645,174 |  | 1,156,841 |  |

Gain/loss on revaluation of investments | 48,310 |  | 31,162 |  |

693,484 |  | 1,188,003 |  |

Interest payable and similar expenses | 7 | 12,616 |  | 8,738 |  |

PROFIT BEFORE TAXATION | 680,868 |  | 1,179,265 |  |

Tax on profit | 8 | 182,142 |  | 299,114 |  |

PROFIT FOR THE FINANCIAL YEAR | 498,726 |  | 880,151 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 498,726 |  | 880,151 |  |

| Malcolm McArthur & Son Limited (Registered number: SC173168) |

Statement of Financial Position

31 December 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 9 | 679,068 |  | 584,747 |  |

Investment property | 10 | 554,010 |  | - |  |

1,233,078 |  | 584,747 |  |

CURRENT ASSETS

Stocks | 11 | 194,443 |  | 199,037 |  |

Debtors | 12 | 2,071,313 |  | 1,856,403 |  |

Investments | 13 | 815,677 |  | 767,452 |  |

Cash at bank and in hand | 2,962,340 |  | 3,199,429 |  |

6,043,773 |  | 6,022,321 |  |

CREDITORS

Amounts falling due within one year | 14 | 3,061,770 |  | 2,972,893 |  |

NET CURRENT ASSETS | 2,982,003 |  | 3,049,428 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,215,081 |  | 3,634,175 |  |

CREDITORS

Amounts falling due after more than one year | 15 | (97,304 | ) | (75,874 | ) |

PROVISIONS FOR LIABILITIES | 18 | (168,826 | ) | (108,076 | ) |

NET ASSETS | 3,948,951 |  | 3,450,225 |  |

CAPITAL AND RESERVES

Called up share capital | 19 | 100 |  | 100 |  |

Retained earnings | 20 | 3,948,851 |  | 3,450,125 |  |

SHAREHOLDERS' FUNDS | 3,948,951 |  | 3,450,225 |  |

The financial statements were approved by the director and authorised for issue on 5 March 2026 and were signed by:

M McArthur - Director

| Malcolm McArthur & Son Limited (Registered number: SC173168) |

Statement of Changes in Equity

For The Year Ended 31 December 2024

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 January 2023 | 100 |  | 2,569,974 |  | 2,570,074 |  |

Changes in equity

Total comprehensive income | - |  | 880,151 |  | 880,151 |  |

Balance at 31 December 2023 | 100 |  | 3,450,125 |  | 3,450,225 |  |

Changes in equity

Total comprehensive income | - |  | 498,726 |  | 498,726 |  |

Balance at 31 December 2024 | 100 |  | 3,948,851 |  | 3,948,951 |  |

| Malcolm McArthur & Son Limited (Registered number: SC173168) |

Notes to the Financial Statements

For The Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Malcolm McArthur & 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

| • | the requirements of Section 7 Statement of Cash Flows.

| The financial statements of the company are consolidated in the financial statements of MMA Group Limited as at 31 December 2024.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Going concern

| The company has continued to trade well in the year to 31 December 2025 and based upon the current order book, the director is confident that the company will continue to generate healthy levels of profits for the year ended 31 December 2026 and beyond. The company continues to report a strong net asset position and it continues to hold a high level of cash reserves whilst it remains free of any bank debt, and therefore the director considers it appropriate to adopt the going concern basis of accounting when preparing the financial statements.

| Turnover

| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

| Rendering of services

| Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

| - The amount of turnover can be measured reliably;

| - It is probable that the Company will receive the consideration due under the contract;

| -The stage of completion of the contract at the end of the reporting period can be measured

| reliably; and

| - The costs incurred and the costs to complete the contract can be measured reliably.

| Construction contracts

| When the outcome of a construction contract can be estimated reliably, the company shall recognise contract revenue and contract costs associated with the construction contract as revenue and expenses respectively by reference to the stage of completion of the contract activity at the end of the reporting period.

| Malcolm McArthur & Son Limited (Registered number: SC173168) |

Notes to the Financial Statements - continued

For The Year Ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| 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% on cost

| Fixtures and fittings | - | 15% reducing balance or 33% SL

| Motor vehicles | - | 25% on reducing balance

| 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.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.

| 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.

| Malcolm McArthur & Son Limited (Registered number: SC173168) |

Notes to the Financial Statements - continued

For The Year Ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

| Impairment of financial assets

| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

| Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

| Derecognition of financial assets

| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

| Classification of financial liabilities

| 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.

| Basic financial liabilities

| Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

| Malcolm McArthur & Son Limited (Registered number: SC173168) |

Notes to the Financial Statements - continued

For The Year Ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| Derecognition of financial liabilities

| Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

| Taxation

| The tax expense represents the sum of the tax currently payable and deferred tax.

| Current tax

| The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

| Deferred tax

| Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

| The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

| Cash and cash equivalents

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

| Leases

| 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.

| Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

| Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

| Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

| Pension costs and other post-retirement benefits

| Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

| Malcolm McArthur & Son Limited (Registered number: SC173168) |

Notes to the Financial Statements - continued

For The Year Ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| Employee benefits

| The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

| The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

| Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. | CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

| The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

| Valuation of amounts recoverable on long term contracts

| Determining the valuation of amounts recoverable on long term contracts requires an estimation of the percentage completion of contracts. The level of completion requires the company to estimate the total cost of the contract which is expected to be incurred by the end of the contract. The carrying amount of work in progress at the reporting end date, including any provision, was £1,971,850 (2023: £1,768,015).

| Provision for sums due from long term contracts

| The company adopts the prudent accounting policy of full provision on all contract shortfalls as per uncertified amounts, this is akin to specific bad debt provision.

| Bad debt provision

| Outstanding debts at the year end are reviewed and a provision raised according to the director's view on the ability to recover outstanding balances.

| Retention provision

| A retention provision is included in the financial statements on the basis of the director's assessment to recover the outstanding balance.

4. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by class of business is given below:

| 2024 |  | 2023

£ | £ |

| Electrical and plumbing | 15,237,928 |  | 15,522,152 |  |

| Other sales | 68,470 |  | 76,840 |  |

15,306,398 |  | 15,598,992 |  |

5. | EMPLOYEES AND DIRECTORS

| 2024 |  | 2023

£ | £ |

| Wages and salaries | 3,181,663 |  | 3,047,175 |  |

| Social security costs | 301,912 |  | 290,281 |  |

| Other pension costs | 225,801 |  | 224,234 |  |

3,709,376 |  | 3,561,690 |  |

| Malcolm McArthur & Son Limited (Registered number: SC173168) |

Notes to the Financial Statements - continued

For The Year Ended 31 December 2024

5. | EMPLOYEES AND DIRECTORS - continued

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

| 2024 |  | 2023

| Monthly | 23 |  | 21 |  |

| Weekly | 65 |  | 65 |  |

88 |  | 86 |  |

| The directors of the company are regarded as the key management personnel. Social security costs paid in respect of key management personnel was £11,164 (2023: £11,328).

| 2024 |  | 2023

£ | £ |

| Director's remuneration | 94,792 |  | 93,553 |  |

| Director's pension contributions to money purchase schemes | 60,000 |  | 60,000 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 1 |  | 1 |  |

6. | OPERATING PROFIT

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

| 2024 |  | 2023

£ | £ |

| Depreciation - owned assets | 32,737 |  | 32,528 |  |

| Depreciation - assets on hire purchase contracts | 94,132 |  | 78,215 |  |

| Loss/(profit) on disposal of fixed assets | 8,395 |  | (3,195 | ) |

| Auditors' remuneration | 15,900 |  | 13,700 |  |

| Operating lease charges | 36,899 |  | 36,899 |  |

7. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2024 |  | 2023

£ | £ |

| Hire purchase | 12,616 |  | 8,738 |  |

| Malcolm McArthur & Son Limited (Registered number: SC173168) |

Notes to the Financial Statements - continued

For The Year Ended 31 December 2024

8. | TAXATION

| Analysis of the tax charge

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

| 2024 |  | 2023

£ | £ |

| Current tax:

| UK corporation tax | 121,392 |  | 275,316 |  |

| Over/under provision | - |  | (2,491 | ) |

| Total current tax | 121,392 |  | 272,825 |  |

| Deferred tax | 60,750 |  | 26,289 |  |

| Tax on profit | 182,142 |  | 299,114 |  |

| UK corporation tax has been charged at 25% (2023 - 23.50%).

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

| 2024 |  | 2023

£ | £ |

| Profit before tax | 680,868 |  | 1,179,265 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.500%) | 170,217 |  | 277,127 |  |

| Effects of:

| Expenses not deductible for tax purposes | 503 |  | 1,113 |  |

| Capital allowances in excess of depreciation | (34,435 | ) | (4,704 | ) |

| Utilisation of tax losses | - |  | (711 | ) |

| Adjustments to tax charge in respect of previous periods | (14,893 | ) | - |  |

| Deferred tax movement | 60,750 |  | 26,289 |  |

| Total tax charge | 182,142 |  | 299,114 |  |

| Malcolm McArthur & Son Limited (Registered number: SC173168) |

Notes to the Financial Statements - continued

For The Year Ended 31 December 2024

9. | TANGIBLE FIXED ASSETS

| Fixtures |

| Freehold |  | and |  | Motor |

| property |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST

| At 1 January 2024 | 191,414 |  | 72,610 |  | 1,087,284 |  | 1,351,308 |  |

| Additions | - |  | - |  | 231,454 |  | 231,454 |  |

| Disposals | - |  | - |  | (92,585 | ) | (92,585 | ) |

| At 31 December 2024 | 191,414 |  | 72,610 |  | 1,226,153 |  | 1,490,177 |  |

| DEPRECIATION

| At 1 January 2024 | 957 |  | 61,250 |  | 704,354 |  | 766,561 |  |

| Charge for year | 3,828 |  | 1,705 |  | 121,336 |  | 126,869 |  |

| Eliminated on disposal | - |  | - |  | (82,321 | ) | (82,321 | ) |

| At 31 December 2024 | 4,785 |  | 62,955 |  | 743,369 |  | 811,109 |  |

| NET BOOK VALUE

| At 31 December 2024 | 186,629 |  | 9,655 |  | 482,784 |  | 679,068 |  |

| At 31 December 2023 | 190,457 |  | 11,360 |  | 382,930 |  | 584,747 |  |

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

| Motor

| vehicles

£ |

| COST

| At 1 January 2024 | 477,183 |  |

| Additions | 184,968 |  |

| Transfer to ownership | (236,770 | ) |

| At 31 December 2024 | 425,381 |  |

| DEPRECIATION

| At 1 January 2024 | 173,224 |  |

| Charge for year | 94,132 |  |

| Transfer to ownership | (160,135 | ) |

| At 31 December 2024 | 107,221 |  |

| NET BOOK VALUE

| At 31 December 2024 | 318,160 |  |

| At 31 December 2023 | 303,959 |  |

| Malcolm McArthur & Son Limited (Registered number: SC173168) |

Notes to the Financial Statements - continued

For The Year Ended 31 December 2024

10. | INVESTMENT PROPERTY

| Total

£ |

| COST OR VALUATION

| Additions | 554,010 |  |

| At 31 December 2024 | 554,010 |  |

| NET BOOK VALUE

| At 31 December 2024 | 554,010 |  |

| Cost or valuation at 31 December 2024 is represented by:

£ |

| Valuation in 2024 | 554,010 |  |

11. | STOCKS

2024 | 2023 |

£ | £ |

| Stocks | 194,443 |  | 199,037 |  |

12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Amounts recoverable on long

| term contracts | 1,971,850 |  | 1,768,015 |  |

| VAT | 82,731 |  | 72,787 |  |

| Prepayments and accrued income | 16,732 |  | 15,601 |  |

2,071,313 |  | 1,856,403 |  |

13. | CURRENT ASSET INVESTMENTS

|  | 2024 |  | 2023 |  |

| £ |  | £ |  |

| Listed investments |  | 815,677 |  | 767,452 |  |

| Listed investments are stated at market value at the balance sheet date.

14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Hire purchase contracts (see note 16) | 113,901 |  | 102,263 |  |

| Trade creditors | 1,856,175 |  | 1,783,726 |  |

| Tax | 134,506 |  | 275,316 |  |

| Social security and other taxes | 111,463 |  | 109,316 |  |

| Other creditors | 28,570 |  | 3,662 |  |

| Amounts owed to group | 384,108 |  | 384,108 |  |

| Accruals and deferred income | 433,047 |  | 314,502 |  |

3,061,770 |  | 2,972,893 |  |

| Malcolm McArthur & Son Limited (Registered number: SC173168) |

Notes to the Financial Statements - continued

For The Year Ended 31 December 2024

15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2024 | 2023 |

£ | £ |

| Hire purchase contracts (see note 16) | 97,304 |  | 75,874 |  |

16. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

2024 | 2023 |

£ | £ |

| Net obligations repayable:

| Within one year | 113,901 |  | 102,263 |  |

| Between one and five years | 97,304 |  | 75,874 |  |

211,205 |  | 178,137 |  |

| Non-cancellable |

| operating leases |

2024 | 2023 |

£ | £ |

| Within one year | 36,899 |  | 36,899 |  |

| Between one and five years | 117,450 |  | 145,349 |  |

| In more than five years | - |  | 9,000 |  |

154,349 |  | 191,248 |  |

17. | SECURED DEBTS

| The following secured debts are included within creditors:

2024 | 2023 |

£ | £ |

| Hire purchase contracts | 211,205 |  | 178,137 |  |

| Virgin Money PLC holds a floating charge over the assets of the company.

18. | PROVISIONS FOR LIABILITIES

2024 | 2023 |

£ | £ |

| Deferred tax | 168,826 |  | 108,076 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2024 | 108,076 |  |

| Provided during year | 60,750 |  |

| Balance at 31 December 2024 | 168,826 |  |

| Malcolm McArthur & Son Limited (Registered number: SC173168) |

Notes to the Financial Statements - continued

For The Year Ended 31 December 2024

19. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 100 | Ordinary share capital | £1 | 100 |  | 100 |  |

| Shareholders have full rights with regards to voting, participation and dividends.

20. | RESERVES

| Retained

| earnings

£ |

| At 1 January 2024 | 3,450,125 |  |

| Profit for the year | 498,726 |  |

| At 31 December 2024 | 3,948,851 |  |

| The profit and loss account includes all current and prior year retained profit or losses.

21. | PENSION COMMITMENTS

| The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.Contributions outstanding at the year end amounted to £75,832 (2023: £12,755).

22. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is Malcolm McArthur, who controls the share capital of MMA Group Limited, the ultimate parent company of Malcolm McArthur & Son Limited.

| The ultimate parent company is MMA Group Limited, a company registered in Scotland, which owns 100% of the issue share capital of the company.

23. | POST BALANCE SHEET EVENTS

| Since the financial year-end, the company has purchased investment properties at a total cost £1.031m.