MCCALLUM LIMITED


Directors	MATHIESON, Gordon Robert
	MATHIESON, Ruth Elizabeth


Company Secretary	MATHIESON, Ruth Elizabeth


Registered Address	4 Paisley Road
	Barrhead
	G78 1ND


Registered Number	SC329861 (Scotland)

Statement of Financial Position
31 December 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Investment property	3		1,251,357		880,187
			1,251,357		880,187
Current assets
Debtors	4	49		-
Cash at bank and on hand		8,708		52,222
		8,757		52,222
Creditors amounts falling due within one year	5	(514,182)		(434,615)
Net current assets (liabilities)			(505,425)		(382,393)
Total assets less current liabilities			745,932		497,794
Creditors amounts falling due after one year	6		(645,233)		(381,015)
Provisions for liabilities	8		(20,617)		(20,617)
Net assets			80,082		96,162
Capital and reserves
Called up share capital			2		2
Revaluation reserve			87,896		87,896
Profit and loss account			(7,816)		8,264
Shareholders' funds	9		80,082		96,162

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 2 July 2026, and are signed on its behalf by:

MATHIESON, Gordon Robert
Director
Registered Company No. SC329861

MCCALLUM LIMITED

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Investment property
	Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		0

3.	Investment property


		£
	Fair value at 01 January 25	880,187
	Additions	371,170
	At 31 December 25	1,251,357

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Other debtors	49	-
Total	49	-

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Taxation and social security	-	492
Other creditors	514,182	434,123
Total	514,182	434,615

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	645,233	381,015
Total	645,233	381,015

7.	Secured creditors
	The mortgage loans outstanding at the year end totalled £645,233 (2024: £381,015). The loans are secured by fixed legal charges over the related properties.

8.	Provisions for liabilities
	Provisions are recognised when the company has a legal or constructive obligation at the reponing date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

	2025	2024
	£	£
Net deferred tax liability (asset)	20,617	20,617
Total	20,617	20,617

9.	Revaluation reserve
	The revaluation reserve represents the amount of unrealised surplus created when the investments properties were revalued, less any deferred tax provision. The reserve represents non-distributable funds.


		£
	Reserve at 01 January 25	87,896
	At 31 December 25	87,896