REGISTERED NUMBER: SC194220 (Scotland)

DUNCAN MACKAY AND SONS LIMITED

Financial Statements for the Year Ended 31 March 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I H Mackay

Ms D K MacDonald

REGISTERED OFFICE:

Parkend Industrial Estate

Sandwick

Isle of Lewis

HS2 0AN

REGISTERED NUMBER:

SC194220 (Scotland)

ACCOUNTANTS:

Mann Judd Gordon Ltd

Chartered Accountants

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

3,230,533

2,453,153

Investments

7

173,835

173,835

3,404,368

2,626,988

CURRENT ASSETS

Stocks

8

345,500

265,250

Debtors

9

1,523,559

2,571,763

Cash at bank and in hand

452,549

146,169

2,321,608

2,983,182

CREDITORS

Amounts falling due within one year

10

734,624

720,545

NET CURRENT ASSETS

1,586,984

2,262,637

TOTAL ASSETS LESS CURRENT LIABILITIES

4,991,352

4,889,625

CREDITORS

Amounts falling due after more than one year

11

(458,775

)

(15,206

)

PROVISIONS FOR LIABILITIES

(712,492

)

(600,599

)

NET ASSETS

3,820,085

4,273,820

CAPITAL AND RESERVES

Called up share capital

13

792

1,200

Capital redemption reserve

408

-

Retained earnings

3,818,885

4,272,620

SHAREHOLDERS' FUNDS

3,820,085

4,273,820

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 July 2026 and were signed on its behalf by:

I H Mackay - Director

1.	STATUTORY INFORMATION

Duncan Mackay and Sons 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 (£).

The financial statements are rounded to the nearest £1.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The area of the accounts subjected to significant judgements and estimates is fixed asset depreciation, where the charge to the profit and loss account and the carrying value in the balance sheet is governed by the directors estimate of useful economic life and residual value of the 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

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.

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.

Land and buildings

-

not provided

Plant and machinery

-

15% depreciation on reducing balance

Motor vehicles

-

25% depreciation on reducing balance

Office equipment

-

20% depreciation on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2025 - 48 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

and 31 March 2026

125,000

AMORTISATION

At 1 April 2025

and 31 March 2026

125,000

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

-

6.	TANGIBLE FIXED ASSETS

Land and

Plant and

Motor

Office

buildings

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2025

7,740

5,055,400

1,379,307

21,451

6,463,898

Additions

-

1,411,884

76,750

753

1,489,387

Disposals

-

(531,880

)

(140,825

)

-

(672,705

)

At 31 March 2026

7,740

5,935,404

1,315,232

22,204

7,280,580

DEPRECIATION

At 1 April 2025

-

3,099,969

900,916

9,860

4,010,745

Charge for year

-

476,358

124,971

2,559

603,888

Eliminated on disposal

-

(433,258

)

(131,328

)

-

(564,586

)

At 31 March 2026

-

3,143,069

894,559

12,419

4,050,047

NET BOOK VALUE

At 31 March 2026

7,740

2,792,335

420,673

9,785

3,230,533

At 31 March 2025

7,740

1,955,431

478,391

11,591

2,453,153

Land and buildings is not depreciated in the accounts as the directors are satisfied that the market value of the land and buildings exceeds the amount stated in the company accounts.

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

Plant and

machinery

£

COST

At 1 April 2025

202,750

Additions

982,430

At 31 March 2026

1,185,180

DEPRECIATION

At 1 April 2025

94,617

Charge for year

71,404

At 31 March 2026

166,021

NET BOOK VALUE

At 31 March 2026

1,019,159

At 31 March 2025

108,133

7.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2025

and 31 March 2026

173,835

NET BOOK VALUE

At 31 March 2026

173,835

At 31 March 2025

173,835

8.

STOCKS

31.3.26

31.3.25

£

£

Work-in-progress

297,000

223,000

Stock

48,500

42,250

345,500

265,250

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

1,026,983

1,432,212

Other debtors

-

5,200

Amounts owed by group undertakings

224,165

260,165

Retentions

244,552

119,186

VAT

27,859

-

Prepayments and accrued income

-

755,000

1,523,559

2,571,763

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans and overdrafts

104,539

-

Hire purchase contracts

246,521

45,619

Trade creditors

315,843

321,407

Tax

-

200,714

Social security and other taxes

57,068

62,385

Pensions payable

-

2,625

VAT

-

53,242

Other creditors

2,050

1,216

Directors' current accounts

853

25,587

Accrued expenses

7,750

7,750

734,624

720,545

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Hire purchase contracts

458,775

15,206

12.	SECURED DEBTS

The Royal Bank of Scotland has a bond and floating charge on all property and assets present and future of the company.

13.	CALLED UP SHARE CAPITAL

During the financial year, the company purchased 408 of its own £1 ordinary shares for an aggregate consideration of £770,081 (inclusive of stamp duty and directly attributable legal fees).

The shares represent 34% of the company’s called-up share capital.

The shares were repurchased out of distributable profits and were cancelled immediately upon acquisition.

An amount equal to the nominal value of the cancelled shares (£408) has been transferred from profit and loss reserves to the Capital Redemption Reserve, in accordance with the Companies Act 2006.

14.	RELATED PARTY DISCLOSURES

There are loans of £853 (2025 : £25,587) from directors. There are no repayment terms in place and no interest is being charged.

15.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.