REGISTERED NUMBER: SC779650 (Scotland)

Lorraine Mackay Property Ltd

Financial Statements For The Year Ended 31 August 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms L L Mackay

REGISTERED OFFICE:

Burnside

Hill Of Forss

Thurso

Caithness

KW14 7XQ

REGISTERED NUMBER:

SC779650 (Scotland)

ACCOUNTANTS:

The Long Partnership

Chartered Accountants

Chartered Tax Advisers

1 Sir John's Square

Thurso

Caithness

KW14 7AN

FIXED ASSETS

Tangible assets

4

28,201

38,967

Investment property

5

273,089

-

301,290

38,967

CURRENT ASSETS

Debtors

6

-

19,410

Cash at bank

15,487

1,362

15,487

20,772

CREDITORS

Amounts falling due within one year

7

70,580

37,007

NET CURRENT LIABILITIES

(55,093

)

(16,235

)

TOTAL ASSETS LESS CURRENT LIABILITIES

246,197

22,732

CREDITORS

Amounts falling due after more than one year

8

(175,183

)

-

PROVISIONS FOR LIABILITIES

10

(989

)

(527

)

NET ASSETS

70,025

22,205

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

11

69,925

22,105

SHAREHOLDERS' FUNDS

70,025

22,205

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 29 May 2026 and were signed by:

Ms L L Mackay - Director

1.	STATUTORY INFORMATION

Lorraine Mackay Property Ltd 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.

Equipment

-

25% on reducing balance

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.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Land and

buildings

Equipment

Totals

£

£

£

COST

At 1 September 2024

23,274

16,352

39,626

Additions

-

3,591

3,591

Disposals

-

(13,200

)

(13,200

)

At 31 August 2025

23,274

6,743

30,017

DEPRECIATION

At 1 September 2024

-

659

659

Charge for year

-

3,852

3,852

Eliminated on disposal

-

(2,695

)

(2,695

)

At 31 August 2025

-

1,816

1,816

NET BOOK VALUE

At 31 August 2025

23,274

4,927

28,201

At 31 August 2024

23,274

15,693

38,967

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

273,089

At 31 August 2025

273,089

NET BOOK VALUE

At 31 August 2025

273,089

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Trade debtors

-

18,780

Other debtors

-

630

-

19,410

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Bank loans and overdrafts

14,907

-

Taxation and social security

11,429

4,758

Other creditors

44,244

32,249

70,580

37,007

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.25

31.8.24

£

£

Bank loans

175,183

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

115,555

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.25

31.8.24

£

£

Bank loans

190,090

-

The loans for the purchase of the investment properties are secured by standard securities over the properties.

10.	PROVISIONS FOR LIABILITIES

31.8.25

31.8.24

£

£

Deferred tax

989

527

Deferred

tax

£

Balance at 1 September 2024

527

Charge to Income Statement during year

462

Balance at 31 August 2025

989

11.

RESERVES

Retained

earnings

£

At 1 September 2024

22,105

Profit for the year

47,820

At 31 August 2025

69,925