REGISTERED NUMBER: SC032175 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

ENGEBRET LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C A S Engebretsen

Mrs M D N Engebretsen

J D S Engebretsen

REGISTERED OFFICE:

37 Portland Road

KILMARNOCK

Ayrshire

KA1 2DJ

REGISTERED NUMBER:

SC032175 (Scotland)

ACCOUNTANTS:

Gilmour Hamilton LLP

Chartered Accountants

37 Portland Road

KILMARNOCK

Ayrshire

KA1 2DJ

FIXED ASSETS

Tangible assets

4

1,363,244

1,392,792

CURRENT ASSETS

Stocks

342,551

368,054

Debtors

5

186,713

173,009

Cash at bank and in hand

579,941

412,053

1,109,205

953,116

CREDITORS

Amounts falling due within one year

6

472,475

472,493

NET CURRENT ASSETS

636,730

480,623

TOTAL ASSETS LESS CURRENT LIABILITIES

1,999,974

1,873,415

PROVISIONS FOR LIABILITIES

132,954

133,161

NET ASSETS

1,867,020

1,740,254

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Revaluation reserve

7

169,657

172,002

Retained earnings

7

1,687,363

1,558,252

SHAREHOLDERS' FUNDS

1,867,020

1,740,254

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 24 September 2025 and were signed on its behalf by:

J D S Engebretsen - Director

1.	STATUTORY INFORMATION

Engebret 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 as modified by the revaluation of certain assets.

Going concern

At the time of approving the financial statements, the directors consider that the company has adequate resources to continue in operational existence for the foreseeable future. The accounts have therefore been prepared on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from services is recognised by reference to the stage of completion at the balance sheet date.

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

-

1% on cost

Plant and machinery etc

-

33.33% on cost, 25% on reducing balance, 20% on cost, 20% on reducing balance and Straight line over 10 years

On transition to Section 1A of Financial Reporting Standard 102, the company elected to use the most recent valuation of freehold property as its deemed cost. The ongoing policy for depreciation remains unchanged.

Where a corporation tax liability would arise if assets included at deemed cost were sold at their net book value, a deferred tax provision will be incorporated into the accounts.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out basis. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

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.

Employee benefits

When employees have rendered service to the company, short term benefits (including holiday pay) to which employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Rent receivable

Rent receivable is recognised on a straight line basis over the lease term.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded ar transaction price. Any losses arising from impairment are recognised in the income statement in administrative expenses.

Cash on the balance sheet comprises cash in hand and cash at bank

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2024 - 37 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 March 2024

1,175,347

1,332,278

2,507,625

Additions

-

233,109

233,109

Disposals

-

(127,815

)

(127,815

)

At 28 February 2025

1,175,347

1,437,572

2,612,919

DEPRECIATION

At 1 March 2024

314,903

799,930

1,114,833

Charge for year

28,762

217,699

246,461

Eliminated on disposal

-

(111,619

)

(111,619

)

At 28 February 2025

343,665

906,010

1,249,675

NET BOOK VALUE

At 28 February 2025

831,682

531,562

1,363,244

At 29 February 2024

860,444

532,348

1,392,792

Cost or valuation at 28 February 2025 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 1989

217,430

-

217,430

Cost

957,917

1,437,572

2,395,489

1,175,347

1,437,572

2,612,919

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

957,917

957,917

Aggregate depreciation

257,611

257,611

Freehold land and buildings were valued on an open market basis basis on 20 August 1989 by Graham & Sibbald, Chartered Surveyors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

164,432

111,349

Other debtors

22,281

61,660

186,713

173,009

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

256,007

315,362

Taxation and social security

170,929

103,953

Other creditors

45,539

53,178

472,475

472,493

7.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 March 2024

1,558,252

172,002

1,730,254

Profit for the year

184,766

184,766

Dividends

(58,000

)

(58,000

)

Realised revaluation gains

2,345

(2,345

)

-

At 28 February 2025

1,687,363

169,657

1,857,020