REGISTERED NUMBER: SC098319 (Scotland)

Mackays Garage Limited

Financial Statements For The Year Ended 30 November 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G A Mackay

Mrs J S M Mackay

SECRETARY:

G A Mackay

REGISTERED OFFICE:

Main Street

Castletown

Caithness

KW14 8TU

REGISTERED NUMBER:

SC098319 (Scotland)

ACCOUNTANTS:

The Long Partnership

Chartered Accountants

Chartered Tax Advisers

1 Sir John's Square

Thurso

Caithness

KW14 7AN

FIXED ASSETS

Tangible assets

4

17

212

Investments

5

1,759,316

1,417,271

1,759,333

1,417,483

CURRENT ASSETS

Stocks

2,000

2,000

Debtors

6

24

17

Cash at bank and in hand

194,223

370,458

196,247

372,475

CREDITORS

Amounts falling due within one year

7

130,566

132,582

NET CURRENT ASSETS

65,681

239,893

TOTAL ASSETS LESS CURRENT LIABILITIES

1,825,014

1,657,376

PROVISIONS FOR LIABILITIES

8

82,987

58,380

NET ASSETS

1,742,027

1,598,996

CAPITAL AND RESERVES

Called up share capital

9

50,000

50,000

Retained earnings

10

1,692,027

1,548,996

SHAREHOLDERS' FUNDS

1,742,027

1,598,996

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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2026 and were signed on its behalf by:

G A Mackay - Director

1.	STATUTORY INFORMATION

Mackays Garage 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 as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

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

37,969

DEPRECIATION

At 1 December 2024

37,757

Charge for year

195

At 30 November 2025

37,952

NET BOOK VALUE

At 30 November 2025

17

At 30 November 2024

212

5.	FIXED ASSET INVESTMENTS

30.11.25

30.11.24

£

£

Shares in group undertakings

250,575

250,575

Other investments not loans

1,508,741

1,166,696

1,759,316

1,417,271

Additional information is as follows:

Shares in

group

Listed

undertakings

investments

Totals

£

£

£

COST OR VALUATION

At 1 December 2024

250,575

796,881

1,047,456

Additions

-

207,405

207,405

Revaluations

-

116,491

116,491

At 30 November 2025

250,575

1,120,777

1,371,352

NET BOOK VALUE

At 30 November 2025

250,575

1,120,777

1,371,352

At 30 November 2024

250,575

796,881

1,047,456

Cost or valuation at 30 November 2025 is represented by:

Shares in

group

Listed

undertakings

investments

Totals

£

£

£

Valuation in 2016

-

188,977

188,977

Valuation in 2017

-

(9,715

)

(9,715

)

Valuation in 2018

-

(44,708

)

(44,708

)

Valuation in 2019

-

58,428

58,428

Valuation in 2020

-

(27,444

)

(27,444

)

Valuation in 2021

-

114,861

114,861

Valuation in 2022

-

(5,194

)

(5,194

)

Valuation in 2023

-

21,687

21,687

Valuation in 2024

-

7,206

7,206

Valuation in 2025

-

116,491

116,491

Cost

250,575

700,188

950,763

250,575

1,120,777

1,371,352

If listed investments had not been revalued they would have been included at the following historical cost:

30.11.25

30.11.24

£

£

Cost

700,188

492,783

Listed investments were valued on an open market basis on 30 November 2025 by Hargreaves Lansdown .

Investments (neither listed nor unlisted) were as follows:

30.11.25

30.11.24

£

£

Other investment

387,964

369,815

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Mackays Garage Corporate Trading Limited

Registered office: 6th Floor 338 Euston Road, London, UK, NW1 3BG

Nature of business: Development of building projects

%

Class of shares:

holding

Ordinary

100.00

30.9.25

30.9.24

£

£

Aggregate capital and reserves

364,230

358,440

Profit for the year

5,790

20,635

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Other debtors

24

17

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Trade creditors

-

72

Taxation and social security

4,077

4,471

Other creditors

126,489

128,039

130,566

132,582

8.	PROVISIONS FOR LIABILITIES

30.11.25

30.11.24

£

£

Deferred tax

82,987

58,380

Deferred

tax

£

Balance at 1 December 2024

58,380

Charge to Income Statement during year

24,607

Balance at 30 November 2025

82,987

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.25

30.11.24

value:

£

£

50,000

Ordinary

1

50,000

50,000

10.

RESERVES

Retained

earnings

£

At 1 December 2024

1,548,996

Profit for the year

143,031

At 30 November 2025

1,692,027

11.	RELATED PARTY DISCLOSURES

The business operates from premises owned by Mr G A Mackay. No rent is charged.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is G A Mackay.