REGISTERED NUMBER: SC263051 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

MIKE DUTHIE LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Duthie

SECRETARY:

Mrs J Duthie

REGISTERED OFFICE:

Flexistore

Barclayhill Place

Portlethen

Aberdeenshire

AB12 4LH

REGISTERED NUMBER:

SC263051 (Scotland)

ACCOUNTANTS:

Fyfe Moir & Associates

1st Floor, 5 Abercrombie Crt

Prospect Road,

Westhill

Aberdeenshire

Grampian

AB32 6FE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

60,656

28,863

60,656

28,863

CURRENT ASSETS

Stocks

10,065

12,065

Debtors

6

120,101

197,478

Cash at bank

319

68,888

130,485

278,431

CREDITORS

Amounts falling due within one year

7

90,487

97,646

NET CURRENT ASSETS

39,998

180,785

TOTAL ASSETS LESS CURRENT LIABILITIES

100,654

209,648

CREDITORS

Amounts falling due after more than one year

8

(8,980

)

(14,222

)

PROVISIONS FOR LIABILITIES

9

(8,360

)

(6,180

)

NET ASSETS

83,314

189,246

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

83,214

189,146

SHAREHOLDERS' FUNDS

83,314

189,246

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

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

The director acknowledges his 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 9 June 2026 and were signed by:

M Duthie - Director

1.	STATUTORY INFORMATION

Mike Duthie 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Patents and licences

Patents and licences are being amortised evenly over the estimated useful life of five years. The director believes that five years is a fair basis for amortising patents and licences.

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.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

15% 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2025

and 31 December 2025

17,500

AMORTISATION

At 1 January 2025

and 31 December 2025

17,500

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2025

7,645

25,315

2,505

Additions

-

2,900

-

At 31 December 2025

7,645

28,215

2,505

DEPRECIATION

At 1 January 2025

7,645

24,975

2,505

Charge for year

-

587

-

At 31 December 2025

7,645

25,562

2,505

NET BOOK VALUE

At 31 December 2025

-

2,653

-

At 31 December 2024

-

340

-

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2025

32,000

5,085

72,550

Additions

45,500

-

48,400

At 31 December 2025

77,500

5,085

120,950

DEPRECIATION

At 1 January 2025

6,000

2,562

43,687

Charge for year

15,302

718

16,607

At 31 December 2025

21,302

3,280

60,294

NET BOOK VALUE

At 31 December 2025

56,198

1,805

60,656

At 31 December 2024

26,000

2,523

28,863

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

Motor

vehicles

£

COST

Additions

15,500

At 31 December 2025

15,500

DEPRECIATION

Charge for year

3,552

At 31 December 2025

3,552

NET BOOK VALUE

At 31 December 2025

11,948

6.

DEBTORS

31.12.25

31.12.24

£

£

Amounts falling due within one year:

Trade debtors

34,382

29,847

Prepayments

9,257

12,110

43,639

41,957

Amounts falling due after more than one year:

Other debtors

76,462

155,521

Aggregate amounts

120,101

197,478

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans and overdrafts

4,293

-

Hire purchase contracts

15,316

10,666

Trade creditors

19,738

20,744

Tax

4,623

10,569

Social security and other taxes

1,140

810

VAT

13,404

16,320

Other creditors

608

218

Directors' current accounts

186

384

Accrued expenses

31,179

37,935

90,487

97,646

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Hire purchase contracts

8,980

14,222

9.	PROVISIONS FOR LIABILITIES

31.12.25

31.12.24

£

£

Deferred tax

8,360

6,180

Deferred

tax

£

Balance at 1 January 2025

6,180

Accelerated capital allowances

2,180

Balance at 31 December 2025

8,360