Company registration number SC624322 (Scotland)
Bearing Pro Tools Limited
Unaudited financial statements
for the year ended 31 March 2025
Pages for filing with registrar
Bearing Pro Tools Limited
Chartered Accountants' report to the board of directors on the preparation of the
unaudited statutory financial statements of Bearing Pro Tools Limited
1

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bearing Pro Tools Limited for the year ended 31 March 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-j une-20 20.

This report is made solely to the b oard of d irectors of Bearing Pro Tools Limited, as a body, in accordance with the terms of our engagement letter dated 20 June 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Bearing Pro Tools Limited and state those matters that we have agreed to state to the b oard of d irectors of Bearing Pro Tools Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bearing Pro Tools Limited and its b oard of d irectors, as a body, for our work or for this report.

It is your duty to ensure that Bearing Pro Tools Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bearing Pro Tools Limited. You consider that Bearing Pro Tools Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bearing Pro Tools Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory f inancial statements.

James Milne
Chartered Accountants
5 High Street
Inverurie
AB51 3QA
9 October 2025
Bearing Pro Tools Limited
Balance sheet
as at 31 March 2025
31 March 2025
2
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
119,550
144,118
Current assets
Stocks
43,440
40,241
Debtors
4,809
6,603
Cash at bank and in hand
16,865
18,589
65,114
65,433
Creditors: amounts falling due within one year
(42,531)
(56,654)
Net current assets
22,583
8,779
Total assets less current liabilities
142,133
152,897
Creditors: amounts falling due after more than one year
(33,037)
(66,000)
Provisions for liabilities
(22,714)
-
0
Net assets
86,382
86,897
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
85,382
85,897
Total equity
86,382
86,897
Bearing Pro Tools Limited
Balance sheet (continued)
as at 31 March 2025
31 March 2025
3

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 8 October 2025 and are signed on its behalf by:
James M. MacPhail
Gillian C. MacPhail
Director
Director
Company registration number SC624322 (Scotland)
Bearing Pro Tools Limited
Notes to thefinancial statements
for the year ended 31 March 2025
4
1
Accounting policies
Company information

Bearing Pro Tools Limited is a private company limited by shares incorporated in Scotland. The registered office is Unit 10, Harlaw Industrial Estate, Harlaw Way, Inverurie, Aberdeenshire, AB51 4SG.

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

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

1.2
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.

1.3
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:

Plant and equipment
15% reducing balance
Computers
33.3% straight line
Motor vehicles
25% reducing balance

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.

1.4
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.

Bearing Pro Tools Limited
Notes to thefinancial statements (continued)
for the year ended 31 March 2025
1
Accounting policies (continued)
5
1.5
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.

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.

1.6
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.

1.7
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 d asset are consumed.

Bearing Pro Tools Limited
Notes to thefinancial statements (continued)
for the year ended 31 March 2025
6
2
Employees

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

2025
2024
Number
Number
Total
3
3
3
Tangible fixed assets
Total
£
Cost
At 1 April 2024 and 31 March 2025
182,545
Depreciation and impairment
At 1 April 2024
38,427
Depreciation charged in the year
24,568
At 31 March 2025
62,995
Carrying amount
At 31 March 2025
119,550
At 31 March 2024
144,118
4
Operating lease commitments

At 31 March 202 5 the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £5,550 (202 4 - £16,650).

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