Company No: SC061711 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	15,704		19,070
		15,704		19,070
Current assets
Stocks		500		500
Debtors		983		3,556
Cash at bank and in hand		42,635		65,381
		44,118		69,437
Creditors: amounts falling due within one year	4	( 2,125,472)		( 2,145,065)
Net current liabilities		(2,081,354)		(2,075,628)
Total assets less current liabilities		(2,065,650)		(2,056,558)
Net liabilities		( 2,065,650)		( 2,056,558)
Capital and reserves
Called-up share capital	5	57,450		57,450
Profit and loss account		( 2,123,100 )		( 2,114,008 )
Total shareholders' deficit		( 2,065,650)		( 2,056,558)

For the financial year ending 31 October 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Maciain Ltd. (registered number: SC061711) were approved and authorised for issue by the Board of Directors on 19 August 2026. They were signed on its behalf by:

Raghnall Maciain Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Maciain Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Cnoc-An-Locha, Middle Quarter, Sollas, HS6 5BU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £2,066,118. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	15 % reducing balance
Other property, plant and equipment	15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	6		6

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Other property, plant and equipment		Total
	£		£		£		£		£
Cost
At 01 November 2024	83,271		100,000		1,430		1,293		185,994
Disposals	( 2,095)		( 100,000)		( 540)		0		( 102,635)
At 31 October 2025	81,176		0		890		1,293		83,359
Accumulated depreciation
At 01 November 2024	64,751		100,000		1,074		1,099		166,924
Charge for the financial year	2,778		0		53		29		2,860
Disposals	( 1,808)		( 100,000)		( 321)		0		( 102,129)
At 31 October 2025	65,721		0		806		1,128		67,655
Net book value
At 31 October 2025	15,455		0		84		165		15,704
At 31 October 2024	18,520		0		356		194		19,070

4. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	4,756		3,941
Amounts owed to related parties	497,988		516,699
Other creditors	1,622,728		1,624,425
	2,125,472		2,145,065

5. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
42,450 Ordinary shares of £ 1.00 each	42,450		42,450
15,000 10.00% Preference cumulative non-redeemable shares of £ 1.00 each	15,000		15,000
	57,450		57,450

6. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Amounts due to key management personnel	1,593,000		1,593,600

The loan is unsecured, interest free, and has no fixed terms of repayment.

Other related party transactions

	2025		2024
	£		£
Amounts due to MacIain Partnership	497,988		516,699

The above balance is unsecured, interest free, and has no fixed term of repayment.