Company registration number SC211524 (Scotland)
SALTIRE FACILITIES MANAGEMENT LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
SALTIRE FACILITIES MANAGEMENT LIMITED
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4 - 5
Directors' responsibilities statement
6
Independent auditor's report
7 - 9
Profit and loss account
10
Statement of comprehensive income
11
Balance sheet
12
Statement of changes in equity
13
Notes to the financial statements
14 - 27
SALTIRE FACILITIES MANAGEMENT LIMITED
COMPANY INFORMATION
Directors
Mr A Murray
Mr T Miki
(Appointed 22 July 2025)
Mr W B De Schacht
(Appointed 22 July 2025)
Mr T G H Demeire
(Appointed 22 July 2025)
Mr M Dyer
(Appointed 22 July 2025)
Company number
SC211524
Registered office
Carnbroe House
Finch Way
Strathclyde Business Park
Bellshill
United Kingdom
ML4 3PE
Auditor
Azets Audit Services
Titanium 1
Kings Inch Place
Renfrew
United Kingdom
PA4 8WF
SALTIRE FACILITIES MANAGEMENT LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

The directors present the strategic report for the year ended 31 March 2025.

Review of the business

The principal activity of the company continued to be that of the provision of maintenance, servicing, and installation of central heating principally in properties owned in social housing landlords, but we are continuing to increase our business in the private sector.

| 2025 | 2024 | 2023
| £ | £ | £
Turnover | 31,449,433 | 30,317,557 | 27,169,280
Gross profit | 27.67% | 26.64% | 24.50%
EBITDA (excluding exceptional) | 3,363,263 | 3,141,319 | 1,722,175
EBITDA % | 10.7% | 10.3% | 6.3%

Turnover has again, like last year, increased to a new record high, this year to £31.4 m (3.7% increase). This has been achieved with some contract wins and maintaining our existing portfolio of contracts already serviced.

In the year we secured multiple contracts, the main one being the North Lanarkshire Council Gas Maintenance contract which we’ve serviced for 25 years, we are now operating as a key contractor for Mears to deliver the contract but have the stable position of an 8-year contract in place, with potential for a further 4 years. On top of this this contract we have retained the Gas Installs contract and Solar PV installations contract for North Lanarkshire Council which were both out for public tender.

Post year end, the company has been acquired by Daikin Industries Limited which will bring vast number of opportunities for growth within the current sectors Saltire currently operating in as well as opening potential new markets. This ties in well with the company positioning itself as one of the leading heating and renewable services companies in the UK.

Overall, the Directors are delighted with the performance of the business and the strides made in the last few years to lay strong foundations for many years to follow.

SALTIRE FACILITIES MANAGEMENT LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Principal risks and uncertainties

The company's strategy is to follow an appropriate risk policy, which effectively manages exposures related to the achievement of business objectives. The key risks which management face are detailed as follows:

Business performance risk

Business performance risk is the risk that the company may not perform as expected either due to internal factors or due to competitive pressures in the market in which they operate. The risk is managed through a number of measures: authorisation of forward purchases requirements; ensuring the appropriate management team is in place; budget and business planning; monthly reporting and variance analysis; financial controls; key performance indicators; and regular forecasting, in conjunction with an internal compliance function.

Business continuity risk

Where there is a reliance on physical infrastructure, the company operates out of a number of depots which helps the company to minimise the business continuity risk. The company ensures that there is sufficient IT support available should an unforeseen event occur. Management are continually implementing and reviewing business continuity and IT disaster recovery plans to ensure any increase in risk arising from future activities is managed. Investment is planned in IT infrastructure, introduction of cloud-based servers to replace older physical servers and new devices to be purchases in 2025 to replace current leased devices.

Health and safety risk

The company is committed to ensuring a safe working environment. These risks are managed by the company through strong promotion of health and safety culture and well defined health and safety policies, facilitated by the employment of a health and safety professional.

Financial risk

Our financial risk management objectives are to ensure sufficient working capital and cash flow for the company and to ensure there is adequate support for its growth strategy. No treasury transactions or derivatives are entered into.

Liquidity risk

Available cash headroom is monitored by management on a daily basis and regular discussions take place with the company's bankers as a way of managing the company's liquidity risk. Stock and trade debtor levels are monitored periodically by the board of directors.

Credit risk

Credit risk arises principally on third party revenues. Company policy is aimed at minimising such risk, and requires that deferred terms are granted to customers who demonstrate an appropriate payment history and satisfy creditworthiness procedures. Individual exposures are monitored with customers subject to credit terms to ensure the company's exposure to bad debts is not significant.

Management development risk

Long-term growth of the business depends on the company's ability to retain and attract personnel of high quality. The risk is managed through development plans which are regularly reviewed and updated. These are accompanied by specific policies in areas such as training, management development and performance management.

Financial and business control

Strong financial and business controls are necessary to ensure the integrity and reliability of financial and other information on which the company relies on for day-to-day operations, external reporting and for long term planning. The company exercises financial and business control through a combination of qualified and experienced financial personnel; performance analysis; budgeting and cash flow forecasting; and clearly defined approval limits, supported by integrated and proven systems.

SALTIRE FACILITIES MANAGEMENT LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
Principal risks and uncertainties (continued)

Social, ethical and environmental risk

Due to the company's nature and size no significant social, ethical or environmental risks have been identified by management.

General economic and inflationary pressures

As a result of various external factors, Saltire has seen volatility in material prices from suppliers and at times challenges to meet client demands with shortages in boilers manufactured in the year. We have overcome such challenges through strong relationships with manufacturers and key suppliers to service clients needs. The rise in prices not only through material but across many aspects has resulted in price negotiations with clients to counter the rising costs.

Key performance indicators

The company's key financial performance indicators are turnover, margin and EBITDA as detailed within the Fair review of business above.

Future developments

Having secured over £250million of new contracts in the last calendar year, the business has a solid foundation of work for at least the next decade, along with an experienced leadership team focused on tendering for additional new contracts whilst retaining existing works.

The acquisition by Daikin, who are seen as a leading manufacturer of Air Source Heat Pumps, will further strengthen Saltire’s position in the renewables market with access to new clients and innovative new technologies.

The directors believe that the outlook for the company is wholly positive.

On behalf of the board

Mr A Murray
Director
30 September 2025
SALTIRE FACILITIES MANAGEMENT LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -

The directors present their annual report and financial statements for the year ended 31 March 2025.

Principal activities

The principal activity of the company continued to be that of plumbing, heat and air-conditioning installation.

Results and dividends

The results for the year are set out on page 10.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Ms N Milne
(Resigned 22 July 2025)
Mr A Murray
Mr S McFarlane
(Resigned 22 July 2025)
Mr S R Fudge
(Resigned 22 July 2025)
Mr T Miki
(Appointed 22 July 2025)
Mr W B De Schacht
(Appointed 22 July 2025)
Mr T G H Demeire
(Appointed 22 July 2025)
Mr M Dyer
(Appointed 22 July 2025)
Disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that the appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Employee involvement

The company's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance.

Post reporting date events

On 22 July 2025, the company was sold by its parent entity to Daikin Airconditioning UK Limited. The company's ultimate parent entity is now Daikin Industries Limited, a company registered in Japan.

Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of financial instruments and associated risk.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

SALTIRE FACILITIES MANAGEMENT LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
On behalf of the board
Mr A Murray
Director
30 September 2025
SALTIRE FACILITIES MANAGEMENT LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SALTIRE FACILITIES MANAGEMENT LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF SALTIRE FACILITIES MANAGEMENT LIMITED
- 7 -
Opinion

We have audited the financial statements of Saltire Facilities Management Limited (the 'company') for the year ended 31 March 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

SALTIRE FACILITIES MANAGEMENT LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF SALTIRE FACILITIES MANAGEMENT LIMITED
- 8 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

SALTIRE FACILITIES MANAGEMENT LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF SALTIRE FACILITIES MANAGEMENT LIMITED
- 9 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Reviewing minutes of meetings of those charged with governance;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's member those matters we are required to state to the member in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's member, for our audit work, for this report, or for the opinions we have formed.

Alan Brown
Senior Statutory Auditor
For and on behalf of Azets Audit Services
1 October 2025
2025-10-01
Chartered Accountants
Statutory Auditor
Titanium 1
Kings Inch Place
Renfrew
United Kingdom
PA4 8WF
SALTIRE FACILITIES MANAGEMENT LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
- 10 -
2025
2024
Notes
£
£
Turnover
3
31,449,433
30,317,557
Cost of sales
(22,748,619)
(22,241,402)
Gross profit
8,700,814
8,076,155
Administrative expenses
(5,376,022)
(4,958,437)
Operating profit
4
3,324,792
3,117,718
Interest receivable and similar income
7
67,818
-
0
Interest payable and similar expenses
8
(3,151)
(56,307)
Profit before taxation
3,389,459
3,061,411
Tax on profit
9
(848,151)
(759,357)
Profit for the financial year
2,541,308
2,302,054

The profit and loss account has been prepared on the basis that all operations are continuing operations.

SALTIRE FACILITIES MANAGEMENT LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
- 11 -
2025
2024
£
£
Profit for the year
2,541,308
2,302,054
Other comprehensive income
-
-
Total comprehensive income for the year
2,541,308
2,302,054
SALTIRE FACILITIES MANAGEMENT LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 12 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
147,248
83,426
Current assets
Stocks
11
240,544
233,399
Debtors
12
16,191,840
15,174,506
Cash at bank and in hand
229,403
901,634
16,661,787
16,309,539
Creditors: amounts falling due within one year
13
(2,710,938)
(5,243,778)
Net current assets
13,950,849
11,065,761
Total assets less current liabilities
14,098,097
11,149,187
Provisions for liabilities
Provisions
14
391,466
-
0
Deferred tax liability
15
25,544
9,408
(417,010)
(9,408)
Net assets
13,681,087
11,139,779
Capital and reserves
Called up share capital
17
1,000
1,000
Profit and loss reserves
13,680,087
11,138,779
Total equity
13,681,087
11,139,779
The financial statements were approved by the board of directors and authorised for issue on 30 September 2025 and are signed on its behalf by:
Mr A Murray
Director
Company Registration No. SC211524
SALTIRE FACILITIES MANAGEMENT LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 13 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2023
1,000
8,836,725
8,837,725
Year ended 31 March 2024:
Profit and total comprehensive income for the year
-
2,302,054
2,302,054
Balance at 31 March 2024
1,000
11,138,779
11,139,779
Year ended 31 March 2025:
Profit and total comprehensive income for the year
-
2,541,308
2,541,308
Balance at 31 March 2025
1,000
13,680,087
13,681,087
SALTIRE FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 14 -
1
Accounting policies
Company information

Saltire Facilities Management Limited is a private company limited by shares incorporated in Scotland. The registered office is Carnbroe House, Finch Way, Strathclyde Business Park, Bellshill, United Kingdom, ML4 3PE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 4 ‘Statement of Financial Position’: Reconciliation of the opening and closing number of shares;

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’: Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of United Capital Group Limited. These consolidated financial statements are publicly available on Companies House.

1.2
Going concern

The directors are true required to prepare the statutory financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

In satisfaction of this responsibility, they have reviewed the current and future financial position of the company and its ability to meet its liabilities as they fall due. This assessment considered the company’s principal risks and uncertainties and encompassed a review of future projections.

Following their review, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and to meet its future obligations.

As such, the directors consider that it is appropriate to prepare the financial statements on the going concern basis.

SALTIRE FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 15 -
1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when this can be estimated reliably. The stage of completion is based on internal or external assesment of work performed. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
5 years or term of lease
Plant and equipment
2-10 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

SALTIRE FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 16 -
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

SALTIRE FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 17 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

SALTIRE FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 18 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

SALTIRE FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 19 -
1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.16

Exceptional items

Exceptional items relate to events or transactions that individually, or, if of a similar type, in aggregate, that are required to be disclosed by virtue of their size or incidence for a full understanding of the financial statements.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements and estimates

The following judgements and estimates have had the most significant effect on amounts recognised in the financial statements.

Contract revenue

Recognised amounts of revenues and related receivables reflect management’s best estimate of each contract’s outcome and stage of completion. E stimates of revenues or stage of completion are revised as circumstances change. Any resulting increases or decreases in estimated are reflected in profit or loss in the period in which the circumstances that give rise to the revision become known by management

Provision

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation.

SALTIRE FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 20 -
3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Rendering of Services
31,449,433
30,317,557
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
31,449,433
30,317,557
2025
2024
£
£
Other revenue
Interest income
67,818
-
4
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
27,500
26,000
Depreciation of owned tangible fixed assets
38,471
23,601
Operating lease charges
1,112,489
980,756
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Directors
3
3
Engineers
213
213
Administrative
78
69
Total
294
285
SALTIRE FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
5
Employees
(Continued)
- 21 -

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
11,357,397
10,728,641
Social security costs
1,138,368
1,046,814
Pension costs
681,481
271,443
13,177,246
12,046,898
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
321,853
269,801
Company pension contributions to defined contribution schemes
24,522
24,132
346,375
293,933
Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
129,398
106,568
Company pension contributions to defined contribution schemes
9,427
9,659
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
67,818
-
0
8
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
-
56,307
Other interest
3,151
-
0
3,151
56,307
SALTIRE FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 22 -
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
832,015
754,766
Adjustments in respect of prior periods
-
0
(5,997)
Total current tax
832,015
748,769
Deferred tax
Origination and reversal of timing differences
16,136
10,588
Total tax charge
848,151
759,357

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
3,389,459
3,061,411
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
847,365
765,353
Tax effect of expenses that are not deductible in determining taxable profit
786
-
0
Adjustments in respect of prior years
-
0
(5,996)
Taxation charge for the year
848,151
759,357
SALTIRE FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 23 -
10
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Total
£
£
£
Cost
At 1 April 2024
46,000
775,127
821,127
Additions
-
0
102,293
102,293
At 31 March 2025
46,000
877,420
923,420
Depreciation and impairment
At 1 April 2024
46,000
691,701
737,701
Depreciation charged in the year
-
0
38,471
38,471
At 31 March 2025
46,000
730,172
776,172
Carrying amount
At 31 March 2025
-
0
147,248
147,248
At 31 March 2024
-
0
83,426
83,426
11
Stocks
2025
2024
£
£
Raw materials and consumables
240,544
233,399
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,681,951
2,004,231
Amounts owed by group undertakings
13,291,546
12,251,158
Prepayments and accrued income
1,218,343
919,117
16,191,840
15,174,506
SALTIRE FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 24 -
13
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
1,877,802
2,438,979
Amounts owed to group undertakings
86,828
86,828
Corporation tax
22,016
449,766
Other taxation and social security
265,051
1,023,601
Other creditors
96,360
90,352
Accruals and deferred income
362,881
1,154,252
2,710,938
5,243,778
14
Provisions for liabilities
2025
2024
£
£
Provision for employer defined contribution schemes
391,466
-
Movements on provisions:
Provision for employer defined contribution schemes
£
Additional provisions in the year
391,466
15
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
31,493
15,251
Short term timing differences
(5,949)
(5,843)
25,544
9,408
SALTIRE FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
15
Deferred taxation
(Continued)
- 25 -
2025
Movements in the year:
£
Liability at 1 April 2024
9,408
Charge to profit or loss
16,136
Liability at 31 March 2025
25,544
16
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
681,481
271,443

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

17
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of £1 each
667
667
1,000
667
Ordinary B Shares of £1 each
333
333
-
0
333
1,000
1,000
1,000
1,000
18
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
161,667
99,558
Between two and five years
485,695
21,989
In over five years
491,666
-
0
1,139,028
121,547
SALTIRE FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 26 -
19
Events after the reporting date

On 21 July 2025, the company declared a dividend of £11.7m to partially repay the amounts owed by group companies (by way of set off) to the company. The remaining amounts owed to the company were settled on 23 July 2025.

On 22 July 2025, the company was sold by its parent entity to Daikin Airconditioning UK Limited. The company's ultimate parent entity is now Daikin Industries Limited, a company registered in Japan.

SALTIRE FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 27 -
20
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Purchases
Purchases
2025
2024
£
£
Entities with control, joint control or significant influence over the company
-
0
60,000
Other related parties
-
231,904
2025
2024
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
86,828
86,828

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
13,291,546
12,251,158
Other information

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

21
Ultimate controlling party

At the balance sheet date, the company's ultimate parent was United Capital Group Limited, a company registered in Scotland under registration number SC550711. United Capital Group Limited is under the joint control of Mr G Carling and Mrs L Carling by virtue of their shareholding.

2025-03-31 2024-04-01 false false false CCH Software CCH Accounts Production 2025.100 Ms N Milne Mr A Murray Mr S McFarlane Mr S R Fudge Mr T Miki Mr W B De Schacht Mr T G H Demeire Mr M Dyer SC211524 2024-04-01 2025-03-31 SC211524 bus:Director2 2024-04-01 2025-03-31 SC211524 bus:Director5 2024-04-01 2025-03-31 SC211524 bus:Director6 2024-04-01 2025-03-31 SC211524 bus:Director7 2024-04-01 2025-03-31 SC211524 bus:Director8 2024-04-01 2025-03-31 SC211524 bus:Director1 2024-04-01 2025-03-31 SC211524 bus:Director3 2024-04-01 2025-03-31 SC211524 bus:Director4 2024-04-01 2025-03-31 SC211524 bus:RegisteredOffice 2024-04-01 2025-03-31 SC211524 2025-03-31 SC211524 2023-04-01 2024-03-31 SC211524 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 SC211524 core:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 SC211524 2024-03-31 SC211524 core:LandBuildings core:LeasedAssetsHeldAsLessee 2025-03-31 SC211524 core:PlantMachinery 2025-03-31 SC211524 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-03-31 SC211524 core:PlantMachinery 2024-03-31 SC211524 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 SC211524 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 SC211524 core:CurrentFinancialInstruments 2025-03-31 SC211524 core:CurrentFinancialInstruments 2024-03-31 SC211524 core:ShareCapital 2025-03-31 SC211524 core:ShareCapital 2024-03-31 SC211524 core:RetainedEarningsAccumulatedLosses 2025-03-31 SC211524 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC211524 core:ShareCapital 2023-03-31 SC211524 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC211524 core:ShareCapitalOrdinaryShareClass1 2025-03-31 SC211524 core:ShareCapitalOrdinaryShareClass1 2024-03-31 SC211524 core:ShareCapitalOrdinaryShareClass2 2025-03-31 SC211524 core:ShareCapitalOrdinaryShareClass2 2024-03-31 SC211524 core:ShareCapitalOrdinaryShares 2025-03-31 SC211524 core:ShareCapitalOrdinaryShares 2024-03-31 SC211524 core:LandBuildings core:LongLeaseholdAssets 2024-04-01 2025-03-31 SC211524 core:PlantMachinery 2024-04-01 2025-03-31 SC211524 1 2024-04-01 2025-03-31 SC211524 1 2023-04-01 2024-03-31 SC211524 core:UKTax 2024-04-01 2025-03-31 SC211524 core:UKTax 2023-04-01 2024-03-31 SC211524 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-03-31 SC211524 core:PlantMachinery 2024-03-31 SC211524 2024-03-31 SC211524 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-04-01 2025-03-31 SC211524 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 SC211524 bus:OrdinaryShareClass2 2024-04-01 2025-03-31 SC211524 bus:OrdinaryShareClass1 2025-03-31 SC211524 bus:OrdinaryShareClass1 2024-03-31 SC211524 bus:OrdinaryShareClass2 2025-03-31 SC211524 bus:OrdinaryShareClass2 2024-03-31 SC211524 bus:AllOrdinaryShares 2025-03-31 SC211524 bus:AllOrdinaryShares 2024-03-31 SC211524 core:WithinOneYear 2025-03-31 SC211524 core:WithinOneYear 2024-03-31 SC211524 core:BetweenTwoFiveYears 2025-03-31 SC211524 core:BetweenTwoFiveYears 2024-03-31 SC211524 core:MoreThanFiveYears 2025-03-31 SC211524 core:MoreThanFiveYears 2024-03-31 SC211524 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:SaleOrPurchaseGoods 2024-04-01 2025-03-31 SC211524 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:SaleOrPurchaseGoods 2023-04-01 2024-03-31 SC211524 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2025-03-31 SC211524 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC211524 bus:FRS102 2024-04-01 2025-03-31 SC211524 bus:Audited 2024-04-01 2025-03-31 SC211524 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP