REGISTERED NUMBER: SC262414 (Scotland)

Financial Statements for the Year Ended 31 March 2026

for

John Mackay Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J G Mackay

REGISTERED OFFICE:

Upper Achies

Harpsdale

Halkirk

Caithness

KW12 6UW

REGISTERED NUMBER:

SC262414 (Scotland)

ACCOUNTANTS:

Reid & Fraser

Chartered Accountants

15 Princes Street

Thurso

Caithness

KW14 7BQ

FIXED ASSETS

Tangible assets

4

2,847,142

2,268,961

CURRENT ASSETS

Stocks

80,000

30,000

Debtors

5

816,816

578,865

Cash at bank and in hand

1,874,204

1,704,006

2,771,020

2,312,871

CREDITORS

Amounts falling due within one year

6

(640,816

)

(278,953

)

NET CURRENT ASSETS

2,130,204

2,033,918

TOTAL ASSETS LESS CURRENT LIABILITIES

4,977,346

4,302,879

PROVISIONS FOR LIABILITIES

7

(582,711

)

(530,716

)

NET ASSETS

4,394,635

3,772,163

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

4,394,535

3,772,063

SHAREHOLDERS' FUNDS

4,394,635

3,772,163

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 16 October 2026 and were signed by:

J G Mackay - Director

1.	STATUTORY INFORMATION

John Mackay 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.

Plant and machinery etc

-

25% reducing balance and 15% reducing balance

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.

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2025 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 April 2025

84,947

3,801,585

196,498

4,083,030

Additions

431,353

520,375

56,250

1,007,978

Disposals

-

(52,836

)

-

(52,836

)

At 31 March 2026

516,300

4,269,124

252,748

5,038,172

DEPRECIATION

At 1 April 2025

-

1,697,888

116,181

1,814,069

Charge for year

-

378,708

34,142

412,850

Eliminated on disposal

-

(35,889

)

-

(35,889

)

At 31 March 2026

-

2,040,707

150,323

2,191,030

NET BOOK VALUE

At 31 March 2026

516,300

2,228,417

102,425

2,847,142

At 31 March 2025

84,947

2,103,697

80,317

2,268,961

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

816,009

577,667

Other debtors

807

1,198

816,816

578,865

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

269,202

92,867

Other creditors

371,614

186,086

640,816

278,953

Other creditors include the sum of £314,066 (2025 - £170,059) in respect of taxation and social security.

7.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

582,711

530,716

Deferred

tax

£

Balance at 1 April 2025

530,716

Increase in provision

51,995

Balance at 31 March 2026

582,711

The deferred tax provision has been calculated using the corporation tax rate expected to apply when the timing differences reverse.

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2026 and 31 March 2025:

2026

2025

£

£

J G Mackay

Balance outstanding at start of year

-

5,560

Amounts repaid

-

(5,560

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-