REGISTERED NUMBER: SC751458 (Scotland)

MacNab Marine Ltd

Financial Statements For The Year Ended 30 November 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G Macnab

REGISTERED OFFICE:

1 Sir Johns Square

Thurso

Caithness

KW14 7AN

REGISTERED NUMBER:

SC751458 (Scotland)

ACCOUNTANTS:

The Long Partnership

Chartered Accountants

Chartered Tax Advisers

1 Sir John's Square

Thurso

Caithness

KW14 7AN

FIXED ASSETS

Tangible assets

4

20,793

27,724

CURRENT ASSETS

Debtors

5

3,194

3,228

Cash at bank

7,598

50,501

10,792

53,729

CREDITORS

Amounts falling due within one year

6

5,626

17,787

NET CURRENT ASSETS

5,166

35,942

TOTAL ASSETS LESS CURRENT LIABILITIES

25,959

63,666

CREDITORS

Amounts falling due after more than one year

7

-

(14,877

)

PROVISIONS FOR LIABILITIES

(3,950

)

(3,950

)

NET ASSETS

22,009

44,839

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

21,909

44,739

22,009

44,839

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

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

The financial statements were approved by the director and authorised for issue on 25 August 2026 and were signed by:

G Macnab - Director

1.	STATUTORY INFORMATION

MacNab Marine 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 December 2024

and 30 November 2025

38,337

DEPRECIATION

At 1 December 2024

10,613

Charge for year

6,931

At 30 November 2025

17,544

NET BOOK VALUE

At 30 November 2025

20,793

At 30 November 2024

27,724

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

Equipment

£

COST

At 1 December 2024

and 30 November 2025

28,995

DEPRECIATION

At 1 December 2024

7,694

Charge for year

5,326

At 30 November 2025

13,020

NET BOOK VALUE

At 30 November 2025

15,975

At 30 November 2024

21,301

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Trade debtors

-

480

Other debtors

3,194

2,748

3,194

3,228

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Hire purchase contracts

-

4,959

Trade creditors

2,865

238

Taxation and social security

-

10,063

Other creditors

2,761

2,527

5,626

17,787

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.25

30.11.24

£

£

Hire purchase contracts

-

14,877