REGISTERED NUMBER: SC517937 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

WHITE LABEL SOURCING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G A Campbell

REGISTERED OFFICE:

1 Dornie Court

Thornliebank Industrial Estate

Thornliebank

Glasgow

G46 8AU

REGISTERED NUMBER:

SC517937 (Scotland)

ACCOUNTANTS:

Henry Brown & Co

Chartered Accountants

26 Portland Road

Kilmarnock

Ayrshire

KA1 2EB

FIXED ASSETS

Tangible assets

4

480,736

500,968

CURRENT ASSETS

Stocks

198,092

171,322

Debtors

5

543,687

452,912

Cash at bank and in hand

150,437

163,120

892,216

787,354

CREDITORS

Amounts falling due within one year

6

608,847

484,192

NET CURRENT ASSETS

283,369

303,162

TOTAL ASSETS LESS CURRENT LIABILITIES

764,105

804,130

CREDITORS

Amounts falling due after more than one year

7

(131,874

)

(223,833

)

PROVISIONS FOR LIABILITIES

(8,367

)

(5,663

)

NET ASSETS

623,864

574,634

CAPITAL AND RESERVES

Called up share capital

700

700

Capital redemption reserve

300

300

Retained earnings

622,864

573,634

623,864

574,634

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

G A Campbell - Director

1.	STATUTORY INFORMATION

White Label Sourcing 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 (£).

The financial statements relate to a single company.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

and 31 December 2024

537,430

2,850

10,959

DEPRECIATION

At 1 January 2024

59,113

2,242

9,291

Charge for year

10,747

1,406

2,049

At 31 December 2024

69,860

3,648

11,340

NET BOOK VALUE

At 31 December 2024

467,570

(798

)

(381

)

At 31 December 2023

478,317

608

1,668

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

31,005

13,823

596,067

DEPRECIATION

At 1 January 2024

11,069

13,384

95,099

Charge for year

3,996

2,034

20,232

At 31 December 2024

15,065

15,418

115,331

NET BOOK VALUE

At 31 December 2024

15,940

(1,595

)

480,736

At 31 December 2023

19,936

439

500,968

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

31,005

DEPRECIATION

At 1 January 2024

11,069

Charge for year

3,996

At 31 December 2024

15,065

NET BOOK VALUE

At 31 December 2024

15,940

At 31 December 2023

19,936

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

534,479

383,695

Other debtors

9,208

69,217

543,687

452,912

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

49,509

59,963

Hire purchase contracts

2,754

5,000

Trade creditors

404,582

293,142

Taxation and social security

139,080

109,321

Other creditors

12,922

16,766

608,847

484,192

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

125,044

214,250

Hire purchase contracts

6,830

9,583

131,874

223,833

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

46,669

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

174,553

274,213

The bank term loan is secured over the company's freehold property.