REGISTERED NUMBER: SC351765 (Scotland)

Unaudited Financial Statements for the Year Ended 30th November 2025

for

Morscot Utilities Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

P Mulholland

Registered office:

29d Queen Street

Lossiemouth

IV31 6PR

Registered number:

SC351765 (Scotland)

Accountants:

Frame Kennedy

4th Floor Metropolitan House

31-33 High Street

Inverness

Inverness-shire

IV1 1HT

Fixed assets

Tangible assets

4

16,488

426,572

Investment property

5

399,933

-

416,421

426,572

Current assets

Debtors

6

196,717

325,403

Creditors

Amounts falling due within one year

7

181,328

203,988

Net current assets

15,389

121,415

Total assets less current liabilities

431,810

547,987

Creditors

Amounts falling due after more than one year

8

(18,404

)

(111,021

)

Provisions for liabilities

(4,122

)

-

Net assets

409,284

436,966

Capital and reserves

Called up share capital

100

100

Retained earnings

409,184

436,866

409,284

436,966

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6th August 2026 and were signed by:

P Mulholland - Director

1.	Statutory information

Morscot Utilities 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.

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.

Changes in accounting policies

During the current financial year, the company has changed its accounting policy for the subsequent measurement of property. Previously the property owned by the company was held as freehold property, but following a review, has been reclassed as investment property.

The investment property is measured on a fair value basis.

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.

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 Statement of Income and Retained Earnings, 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

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.

Fair value

Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm's length transaction.

3.	Employees and directors

The average number of employees during the year was 2 (2024 - NIL ) .

4.	Tangible fixed assets

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1st December 2024

447,612

99,421

27,000

1,644

575,677

Additions

-

221

-

-

221

Disposals

(447,612

)

-

(27,000

)

-

(474,612

)

At 30th November 2025

-

99,642

-

1,644

101,286

Depreciation

At 1st December 2024

47,679

79,575

20,750

1,101

149,105

Charge for year

-

4,013

-

109

4,122

Eliminated on disposal

(47,679

)

-

(20,750

)

-

(68,429

)

At 30th November 2025

-

83,588

-

1,210

84,798

Net book value

At 30th November 2025

-

16,054

-

434

16,488

At 30th November 2024

399,933

19,846

6,250

543

426,572

5.	Investment property

Total

£

Fair value

Additions

399,933

At 30th November 2025

399,933

Net book value

At 30th November 2025

399,933

6.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

12,061

10,217

Other debtors

184,656

315,186

196,717

325,403

7.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts

51,621

41,410

Trade creditors

1,425

11,223

Taxation and social security

65,853

87,444

Other creditors

62,429

63,911

181,328

203,988

8.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Other creditors

18,404

111,021

9.	Secured debts

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdraft

45,407

-

Bank loans

6,214

-

Bank loans due over 1 year

24,618

-

76,239

-

The company has a loan outstanding to the Royal Bank of Scotland. The creditor holds a floating charge covering all the property or undertakings of the company.

10.	Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 30th November 2025 and 30th November 2024:

2025

2024

£

£

P Mulholland

Balance outstanding at start of year

315,186

315,186

Amounts advanced

72,561

-

Amounts repaid

(152,226

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

235,521

315,186