REGISTERED NUMBER: SC035917 (Scotland)

Financial Statements For The Year Ended 31 December 2024

for

Peter D. Stirling Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

D W Stirling

REGISTERED OFFICE:

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

REGISTERED NUMBER:

SC035917 (Scotland)

ACCOUNTANTS:

Robb Ferguson Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

BANKERS:

Barclays

60 Kingston Street

Glasgow

G5 8BJ

SOLICITORS:

Miller Beckett & Jackson

190 St Vincent Street

Glasgow

G5 9TH

FIXED ASSETS

Tangible assets

4

9,248,442

9,363,730

CURRENT ASSETS

Stocks

23,864

23,864

Debtors

5

1,039,186

1,069,823

Cash at bank and in hand

129,126

158,396

1,192,176

1,252,083

CREDITORS

Amounts falling due within one year

6

1,347,349

1,325,549

NET CURRENT LIABILITIES

(155,173

)

(73,466

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,093,269

9,290,264

CREDITORS

Amounts falling due after more than one year

7

(2,900,415

)

(3,199,755

)

PROVISIONS FOR LIABILITIES

11

(251,145

)

(282,668

)

NET ASSETS

5,941,709

5,807,841

CAPITAL AND RESERVES

Called up share capital

2,500

2,500

Revaluation reserve

1,079,240

1,079,240

Capital redemption reserve

6,144

6,144

Retained earnings

4,853,825

4,719,957

SHAREHOLDERS' FUNDS

5,941,709

5,807,841

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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2025 and were signed by:

D W Stirling - Director

1.	STATUTORY INFORMATION

Peter D. Stirling 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.	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 comprises the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

Tangible fixed assets

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

Freehold land & property

-

2% on cost and 15 years straight line

Plant, fixtures & vehicles

-

25% on reducing balance, 10% on cost and 2% - 10% on cost

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost is determined on a first in first out basis, and includes all direct costs incurred. Net realisable value is based on estimated selling price allowing for all further costs of completion and disposal.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation and deferred tax

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 statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Finance and operating leases

Assets acquired under finance leases or hire purchase are treated as tangible fixed assets and depreciation is provided accordingly. The present value of future rentals is shown as a liability and the interest element of rental obligations is charged to the profit and loss account over the period of the lease in proportion to the capital balance outstanding.

Operating lease rentals are charged in the profit and loss account on a straight line basis over the lease term.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme and the pension charge in the profit and loss account represents the amounts payable by the company to the fund in respect of the year.

Government grant

Grants in respect of capital expenditure on assets, which are depreciated, are credited to the deferred income account and will be released to profit over the expected useful lives of the relevant assets by equal annual instalments from the date the asset is put into use.

Grants in respect of capital expenditure on assets that are not depreciated are deducted from the cost of the asset. This represents a departure from the requirement of the Companies Act 2006. In the opinion of the directors the accounting treatment adopted is appropriate in order to show a true and fair view on the basis that the grants are specific to the acquisition of the assets concerned and not made as a contribution to finance the general activities of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant,

land &

fixtures

property

& vehicles

Totals

£

£

£

COST

At 1 January 2024

8,519,460

3,586,077

12,105,537

Additions

37,930

7,820

45,750

Disposals

-

(214,936

)

(214,936

)

At 31 December 2024

8,557,390

3,378,961

11,936,351

DEPRECIATION

At 1 January 2024

286,385

2,455,422

2,741,807

Charge for year

27,127

127,534

154,661

Eliminated on disposal

-

(208,559

)

(208,559

)

At 31 December 2024

313,512

2,374,397

2,687,909

NET BOOK VALUE

At 31 December 2024

8,243,878

1,004,564

9,248,442

At 31 December 2023

8,233,075

1,130,655

9,363,730

Included in cost of land and buildings is freehold land of £ 2,500,000 (2023 - £ 2,500,000 ) which is not depreciated.

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

Plant,

fixtures

& vehicles

£

COST

At 1 January 2024

and 31 December 2024

752,686

DEPRECIATION

At 1 January 2024

and 31 December 2024

296,255

NET BOOK VALUE

At 31 December 2024

456,431

At 31 December 2023

456,431

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

357,551

386,252

Other debtors

77,581

79,517

Amounts due from related undertaking

604,054

604,054

1,039,186

1,069,823

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 8)

280,000

280,000

Hire purchase contracts (see note 9)

63,340

120,540

Trade creditors

78,929

190,494

Tax

153,148

80,789

Social security and other taxes

19,622

16,744

VAT

108,844

104,163

Other creditors

197,722

155,591

Amounts due to related undertaking

444,744

376,228

Deferred government grants

1,000

1,000

1,347,349

1,325,549

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 8)

2,415,000

2,650,000

Hire purchase contracts (see note 9)

11,847

75,187

Amounts due to related

undertaking

286,568

286,568

Deferred government grants

187,000

188,000

2,900,415

3,199,755

8.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

280,000

280,000

Amounts falling due between one and two years:

Bank loans - 1-2 years

280,000

280,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

2,135,000

2,370,000

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

63,340

120,540

Between one and five years

11,847

75,187

75,187

195,727

Non-cancellable

operating leases

2024

2023

£

£

Within one year

42,000

42,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

2,695,000

2,930,000

Hire purchase contracts

75,187

195,727

2,770,187

3,125,727

The bank loans and overdraft are secured by way of a standard security over the company's land and buildings and by a bond and floating charge over the company's assets.

Finance leases and hire purchase creditors are secured on the assets concerned.

11.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

251,145

282,668

Deferred

tax

£

Balance at 1 January 2024

282,668

Credit to Income Statement during year

(31,523

)

Accelerated capital allowances

Balance at 31 December 2024

251,145

12.	ULTIMATE PARENT COMPANY