REGISTERED NUMBER: SC622667 (Scotland)

Fear Beag Ltd

Financial Statements For The Year Ended 28 February 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs W Mcmahon

C Mcmahon

M McMahon

REGISTERED OFFICE:

First Floor

Robertson House

Shore Street

Inverness

Highland

IV1 1NF

REGISTERED NUMBER:

SC622667 (Scotland)

ACCOUNTANTS:

The Long Partnership

1st Floor

Robertson House

Shore Street

Inverness

Highland

IV1 1NF

BANKERS:

The Royal Bank of Scotland

20 High Street

Nairn

IV12 4AY

FIXED ASSETS

Intangible assets

4

63,698

77,756

Tangible assets

5

342,287

344,285

405,985

422,041

CURRENT ASSETS

Stocks

8,791

8,925

Debtors

6

1,050

3,219

Cash at bank and in hand

7,012

9,926

16,853

22,070

CREDITORS

Amounts falling due within one year

7

296,500

305,401

NET CURRENT LIABILITIES

(279,647

)

(283,331

)

TOTAL ASSETS LESS CURRENT LIABILITIES

126,338

138,710

CREDITORS

Amounts falling due after more than one year

8

241,114

255,593

NET LIABILITIES

(114,776

)

(116,883

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(114,876

)

(116,983

)

(114,776

)

(116,883

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

M McMahon - Director

1.	STATUTORY INFORMATION

Fear Beag 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

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.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings not depreciated

Equipment 20 - 25% reducing balance

Stocks

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

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.

Going concern

The directors note that the business has net current liabilities of £279,647( 2024 - £283,331 and net liabilities of £114,776 ( 2024 - £116,883). 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. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 34 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 March 2024

and 28 February 2025

140,000

1,437

141,437

AMORTISATION

At 1 March 2024

63,000

681

63,681

Charge for year

14,000

58

14,058

At 28 February 2025

77,000

739

77,739

NET BOOK VALUE

At 28 February 2025

63,000

698

63,698

At 29 February 2024

77,000

756

77,756

5.	TANGIBLE FIXED ASSETS

Land and

buildings

Equipment

Totals

£

£

£

COST

At 1 March 2024

279,041

99,031

378,072

Additions

-

8,344

8,344

At 28 February 2025

279,041

107,375

386,416

DEPRECIATION

At 1 March 2024

-

33,787

33,787

Charge for year

-

10,342

10,342

At 28 February 2025

-

44,129

44,129

NET BOOK VALUE

At 28 February 2025

279,041

63,246

342,287

At 29 February 2024

279,041

65,244

344,285

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade debtors

1,050

-

Other debtors

-

3,219

1,050

3,219

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans and overdrafts

15,668

16,841

Trade creditors

11,298

19,390

Amounts owed to associates

91,067

94,068

Taxation and social security

4,377

4,678

Other creditors

174,090

170,424

296,500

305,401

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans

241,114

255,593

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

179,115

191,898