REGISTERED NUMBER: SO302893 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2026

for

Mackintosh & Wylie LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mrs F Connolly

Miss L Murray

REGISTERED OFFICE:

23 The Foregate

Kilmarnock

Ayrshire

KA1 1LE

REGISTERED NUMBER:

SO302893 (Scotland)

ACCOUNTANTS:

Gillespie & Anderson

Chartered Accountants

Westburn Business Centre

McNee Road

Prestwick

KA9 2PB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

215,404

209,965

215,404

209,965

CURRENT ASSETS

Stocks

6

157,679

157,416

Debtors

7

4,951,889

5,922,771

Cash at bank and in hand

1,743,475

2,243,134

6,853,043

8,323,321

CREDITORS

Amounts falling due within one year

8

6,741,117

8,208,390

NET CURRENT ASSETS

111,926

114,931

TOTAL ASSETS LESS CURRENT LIABILITIES

327,330

324,896

CREDITORS

Amounts falling due after more than one year

9

73,252

111,842

NET ASSETS ATTRIBUTABLE TO MEMBERS

254,078

213,054

LOANS AND OTHER DEBTS DUE TO MEMBERS

11

182,858

141,834

MEMBERS' OTHER INTERESTS

Revaluation reserve

12

71,220

71,220

254,078

213,054

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

11

182,858

141,834

Members' other interests

71,220

71,220

254,078

213,054

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2026.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 3 August 2026 and were signed by:

Miss L Murray - Designated member

1.	STATUTORY INFORMATION

Mackintosh & Wylie LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern

After reviewing the limited liability partnership's current and likely future trading performance, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The members therefore have adopted a going concern basis in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Freehold property

-

measured at fair value

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

Land and buildings held and used in the limited liability partnership's own activities are stated in the statement of financial position at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position. Any revaluation increase or decrease is credited to the revaluation reserve in Members' Other Interests. No taxation is provided in relation to the revaluation adjustments.

Depreciation has not been provided on the land and property, on the basis that the members consider the residual value of the property to be higher than the original cost.

Other fixed assets are stated at cost less depreciation.

Impairment of fixed assets

At each reporting date, the limited liability partnership reviews the carrying amounts of its tangible and intangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the LLP estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Taxation

No provision is made in the financial statements for member's tax on their profit share. Any tax paid by the LLP is charged to the member's current account when paid.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 24 (2025 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

and 31 March 2026

85,777

AMORTISATION

At 1 April 2025

and 31 March 2026

85,777

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST OR VALUATION

At 1 April 2025

200,000

4,784

25,106

73,172

303,062

Additions

-

-

1,435

6,724

8,159

At 31 March 2026

200,000

4,784

26,541

79,896

311,221

DEPRECIATION

At 1 April 2025

-

2,314

22,663

68,120

93,097

Charge for year

-

371

582

1,767

2,720

At 31 March 2026

-

2,685

23,245

69,887

95,817

NET BOOK VALUE

At 31 March 2026

200,000

2,099

3,296

10,009

215,404

At 31 March 2025

200,000

2,470

2,443

5,052

209,965

Cost or valuation at 31 March 2026 is represented by:

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

Valuation in 2024

(67,500

)

-

-

-

(67,500

)

Valuation in 2017

138,720

-

-

-

138,720

Cost

128,780

4,784

26,541

79,896

240,001

200,000

4,784

26,541

79,896

311,221

Freehold land and buildings were valued on an open market basis on 31 December 2023 by Graham & Sibbald LLP .

6.

STOCKS

2026

2025

£

£

Work-in-progress

157,679

157,416

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

60,416

66,577

Other debtors

4,891,473

5,856,194

4,951,889

5,922,771

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

-

17,817

Trade creditors

10,479

6,196

Taxation and social security

73,768

41,194

Other creditors

6,656,870

8,143,183

6,741,117

8,208,390

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Other creditors

73,252

111,842

10.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank overdraft

-

10,410

Bank loans

-

7,407

-

17,817

Any bank borrowings are secured by a floating charge over all property and assets of the limited liability partnership.

The bounceback bank loan was supported by a 100% guarantee from the UK Government. It was fully repaid during the current financial year.

11.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2026

2025

£

£

Amounts owed to members in respect of profits

182,858

141,834

Falling due within one year

182,858

141,834

Members' interests are subordinated to bank borrowings. Loans and other debts due to members rank equally with unsecured creditors in the event of a winding up. Members' other interests, represented by members' capital (classified as equity) rank after unsecured creditors.

12.

RESERVES

Revaluation

reserve

£

At 1 April 2025

71,220

At 31 March 2026

71,220