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REGISTERED NUMBER: SC052798 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

RONALD J. MCDERMID LIMITED

RONALD J. MCDERMID LIMITED (REGISTERED NUMBER: SC052798)

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 31 December 2024

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

RONALD J. MCDERMID LIMITED

COMPANY INFORMATION

for the Year Ended 31 December 2024

| DIRECTOR: | S A Higgins

| SECRETARY: | Mrs L Higgins

| REGISTERED OFFICE: | 51 Back Sneddon Street

| Paisley

| PA3 2DD

| REGISTERED NUMBER: | SC052798 (Scotland)

| ACCOUNTANTS: | John M Taylor & Co

| Chartered Accountants

| 9 Glasgow Road

| PAISLEY

| Renfrewshire

| PA1 3QS

RONALD J. MCDERMID LIMITED (REGISTERED NUMBER: SC052798)

BALANCE SHEET

31 December 2024

31.12.23 |  | 31.12.24 |

£ | £ |  | Notes | £ | £ |

| FIXED ASSETS

80,545 |  |  | Tangible assets | 5 | 44,858 |  |

| CURRENT ASSETS

1,810 |  |  | Stocks | 1,210 |  |

347,739 |  |  | Debtors | 6 | 411,607 |  |

364,444 |  |  | Cash at bank and in hand | 346,962 |  |

713,993 |  | 759,779 |  |

| CREDITORS

221,197 |  |  | Amounts falling due within one year | 7 | 288,194 |  |

492,796 |  |  | NET CURRENT ASSETS | 471,585 |  |

573,341 |  |  | TOTAL ASSETS LESS CURRENT LIABILITIES | 516,443 |  |

| CREDITORS

(96,298 | ) |  | Amounts falling due after more than one year | 8 | (30,641 | ) |

(13,163 | ) |  | PROVISIONS FOR LIABILITIES | (4,660 | ) |

463,880 |  |  | NET ASSETS | 481,142 |  |

| CAPITAL AND RESERVES

10,000 |  |  | Called up share capital | 10,000 |  |

453,880 |  |  | Retained earnings | 471,142 |  |

463,880 |  |  | SHAREHOLDERS' FUNDS | 481,142 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

RONALD J. MCDERMID LIMITED (REGISTERED NUMBER: SC052798)

BALANCE SHEET - continued

31 December 2024

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 26 June 2025 and were signed by:

S A Higgins - Director

RONALD J. MCDERMID LIMITED (REGISTERED NUMBER: SC052798)

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Ronald J. McDermid 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.

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

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| The significant policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Turnover

| The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

| In respect of contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of contracts for on-going services is recognised by reference to the cost at the balance sheet date plus a contribution to profit dependent on the status of services completed.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Plant & machinery | - | 15% on cost

| Fixtures and fittings | - | 15% on cost

| Motor vehicles | - | 25% on cost

| Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

| At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

RONALD J. MCDERMID LIMITED (REGISTERED NUMBER: SC052798)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2024

3. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

| The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

| Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

| Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

| 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.

| 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.

| Debtors and creditors receivable/payable within one year

| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

| Amounts recoverable on contracts

| Amounts recoverable on contracts includes the value of contractual work in progress. Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

| Cash and cash equivalents

| Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

| Dividends

| Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised

| when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

| Financial instruments

| Basic financial instruments are recognised at amortised cost. Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

RONALD J. MCDERMID LIMITED (REGISTERED NUMBER: SC052798)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2024

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 30 (2023 - 30 ) .

5. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant & |  | and |  | Motor

| Totals |  | machinery |  | fittings |  | vehicles

£ | £ | £ | £ |

| COST

| At 1 January 2024

| and 31 December 2024 | 219,655 |  | 18,095 |  | 10,153 |  | 191,407 |  |

| DEPRECIATION

| At 1 January 2024 | 139,110 |  | 12,940 |  | 7,474 |  | 118,696 |  |

| Charge for year | 35,687 |  | 1,444 |  | 711 |  | 33,532 |  |

| At 31 December 2024 | 174,797 |  | 14,384 |  | 8,185 |  | 152,228 |  |

| NET BOOK VALUE

| At 31 December 2024 | 44,858 |  | 3,711 |  | 1,968 |  | 39,179 |  |

| At 31 December 2023 | 80,545 |  | 5,155 |  | 2,679 |  | 72,711 |  |

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

| Motor

| vehicles

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 119,571 |  |

| DEPRECIATION

| At 1 January 2024 | 53,843 |  |

| Charge for year | 29,893 |  |

| At 31 December 2024 | 83,736 |  |

| NET BOOK VALUE

| At 31 December 2024 | 35,835 |  |

| At 31 December 2023 | 65,728 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Trade debtors | 387,832 |  | 326,839 |  |

| Amounts owed by group undertakings | - |  | 1,853 |  |

| Other debtors | 23,775 |  | 19,047 |  |

411,607 |  | 347,739 |  |

RONALD J. MCDERMID LIMITED (REGISTERED NUMBER: SC052798)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2024

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Hire purchase contracts | 17,979 |  | 17,979 |  |

| Trade creditors | 79,160 |  | 59,188 |  |

| Amounts owed to group undertakings | 31,747 |  | - |  |

| Taxation and social security | 63,250 |  | 45,099 |  |

| Other creditors | 96,058 |  | 98,931 |  |

288,194 |  | 221,197 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Hire purchase contracts | 30,641 |  | 48,620 |  |

| Other creditors | - |  | 47,678 |  |

30,641 |  | 96,298 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.12.24 |  | 31.12.23

£ | £ |

| Hire purchase contracts | 48,620 |  | 66,599 |  |

| A bank overdraft facility is secured by a bond and floating charge dated 6 February 1976 over the assets of the company in favour of the Royal Bank of Scotland plc.

| Obligations under hire purchase contracts are secured over the assets to which they relate.

10. | ULTIMATE CONTROLLING PARTY

| The immediate and ultimate parent of the company is Emros Ltd, a company registered in Scotland whose registered office is at 51 Back Sneddon Street, Paisley PA3 2DD.

| S A Higgins and Mrs L Higgins indirectly control the company as a result of holding the whole of the issued share capital of the parent company between them.