Company registration number SC491992 (Scotland)
INEX WORKS GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
INEX WORKS GROUP LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
INEX WORKS GROUP LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr A H Stevenson
Mrs M L MacKinven
Company number
SC491992
Registered office
3 Mid Road
Blairlinn Industrial Estate
Cumbernauld
Glasgow
Scotland
G67 2TT
Accountants
Consilium Chartered Accountants
169 West George Street
Glasgow
Scotland
G2 2LB
INEX WORKS GROUP LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
7,369
9,211
Tangible assets
4
473,800
515,591
Investments
5
18,796
18,796
499,965
543,598
Current assets
Debtors
6
13,807
600
Cash at bank and in hand
141,167
479,373
154,974
479,973
Creditors: amounts falling due within one year
7
(419,753)
(660,884)
Net current liabilities
(264,779)
(180,911)
Total assets less current liabilities
235,186
362,687
Creditors: amounts falling due after more than one year
8
(24,895)
(68,880)
Provisions for liabilities
9
(109,207)
(115,322)
Net assets
101,084
178,485
Capital and reserves
Called up share capital
11
10,555
10,555
Share premium account
2,903
2,903
Profit and loss reserves
87,626
165,027
Total equity
101,084
178,485

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

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

INEX WORKS GROUP LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 13 October 2025 and are signed on its behalf by:
Mr A H Stevenson
Mrs M L MacKinven
Director
Director
Company Registration No. SC491992
INEX WORKS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 4 -
1
Accounting policies
Company information

Inex Works Group Limited is a private company limited by shares incorporated in Scotland. The registered office is 3 Mid Road, Blairlinn Industrial Estate, Cumbernauld, Glasgow, Scotland, G67 2TT. The company's registration number is SC491992.

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. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

The turnover shown in the profit and loss account represents the value of all income from the leasing of fixed assets to subsidiaries during the year, including management charges receivable, delivered at a selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations.

1.3
Research and development expenditure

Research and development costs are being amortised evenly over their estimated useful life.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation 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:

Computer software
20% reducing balance
1.5
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 machinery
25% reducing balance
Furniture and equipment
20% reducing balance
Motor vehicles
20% reducing balance
INEX WORKS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -

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 the profit and loss account.

1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit and loss account.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.

1.8
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.

1.9
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.

1.10
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.

1.11
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.

INEX WORKS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 6 -
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.

1.12
Leases

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value, and are depreciated in accordance with the above depreciation policies.

Future instalments payable under such agreements, net of finance charges, are included within creditors. Rentals payable are apportioned between the capital element, which reduces the outstanding obligation included within other creditors, and the finance element, which is charged to the profit and loss account on a straight line basis.

2
Employees

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

2025
2024
Total
0
0
3
Intangible fixed assets
Computer software
Research and development
Total
£
£
£
Cost
At 1 May 2024 and 30 April 2025
31,000
79,048
110,048
Amortisation and impairment
At 1 May 2024
21,790
79,047
100,837
Amortisation charged for the year
1,842
-
0
1,842
At 30 April 2025
23,632
79,047
102,679
Carrying amount
At 30 April 2025
7,368
1
7,369
At 30 April 2024
9,210
1
9,211
INEX WORKS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 7 -
4
Tangible fixed assets
Plant and machinery
Furniture and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2024
702,716
82,882
540,000
1,325,598
Additions
73,918
400
14,779
89,097
Disposals
(19,450)
-
0
(10,995)
(30,445)
At 30 April 2025
757,184
83,282
543,784
1,384,250
Depreciation and impairment
At 1 May 2024
469,826
51,499
288,682
810,007
Depreciation charged in the year
62,696
6,343
51,376
120,415
Eliminated in respect of disposals
(12,220)
-
0
(7,752)
(19,972)
At 30 April 2025
520,302
57,842
332,306
910,450
Carrying amount
At 30 April 2025
236,882
25,440
211,478
473,800
At 30 April 2024
232,890
31,383
251,318
515,591

5
Fixed asset investments
2025
2024
£
£
Shares in group undertakings
18,796
18,796
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
13,807
600
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,000
10,000
Trade creditors
123
3,463
Amounts owed to group undertakings
337,448
575,953
Taxation and social security
-
0
12,459
Other creditors
72,182
59,009
419,753
660,884
INEX WORKS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
7
Creditors: amounts falling due within one year
(Continued)
- 8 -

Included within other creditors is £33,985 (2024 - £54,784) in relation to hire purchase contracts, these liabilities are secured over the assets to which they relate.

8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
833
10,833
Other creditors
24,062
58,047
24,895
68,880

Included within other creditors is £24,062 (202 4 - £58,047) in relation to hire purchase contracts, these liabilities are secured over the assets to which they relate.

9
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
10
109,207
115,322
10
Deferred taxation

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

2025
2024
Balances:
£
£
Accelerated capital allowances
109,207
115,322
2025
Movements in the year:
£
Liability at 1 May 2024
115,322
Credit to profit or loss
(6,115)
Liability at 30 April 2025
109,207
INEX WORKS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 9 -
11
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
9,500 A Ordinary shares of £1
9,505
9,500
1,055 B Ordinary shares of £1
1,050
1,055
10,555
10,555

12
Related party transactions

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

No further transactions with related parties were undertaken such as are required to be disclosed under the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

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