REGISTERED NUMBER: SC315282 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

FOR

Probe Drainage Specialists Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Walsh

F Reid

SECRETARY:

D Walsh

REGISTERED OFFICE:

9 Glasgow Road

Paisley

PA1 3QS

REGISTERED NUMBER:

SC315282 (Scotland)

ACCOUNTANTS:

John M Taylor & Co

Chartered Accountants

9 Glasgow Road

PAISLEY

Renfrewshire

PA1 3QS

FIXED ASSETS

569,359

Tangible assets

5

513,183

CURRENT ASSETS

25,336

Stocks

16,313

616,789

Debtors

6

639,185

30,316

Cash at bank

19,562

672,441

675,060

CREDITORS

233,501

Amounts falling due within one year

7

266,187

438,940

NET CURRENT ASSETS

408,873

1,008,299

TOTAL ASSETS LESS CURRENT LIABILITIES

922,056

CREDITORS

(419,568

)

Amounts falling due after more than one year

8

(309,762

)

(96,382

)

PROVISIONS FOR LIABILITIES

(121,587

)

492,349

NET ASSETS

490,707

CAPITAL AND RESERVES

5,000

Called up share capital

10

5,000

487,349

Retained earnings

11

485,707

492,349

SHAREHOLDERS' FUNDS

490,707

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 June 2025 and were signed on its behalf by:

D Walsh - Director

1.	STATUTORY INFORMATION

Probe Drainage Specialists 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover represents net invoiced sale of services, excluding value added tax. Contract revenue, described as turnover, is recognised when and to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant & machinery

-

20% on reducing balance

Motor vehicles

-

20% on cost

Computer equipment

-

20% on reducing balance

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Stocks

Stock and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost. Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

Taxation

Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals under operating leases are charges to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2024 - 16 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant &

and

Motor

Computer

Totals

machinery

fittings

vehicles

equipment

£

£

£

£

£

COST

At 1 February 2024

839,023

652,815

1,185

179,553

5,470

Additions

74,754

27,200

-

45,985

1,569

Disposals

(18,797

)

-

-

(16,999

)

(1,798

)

At 31 January 2025

894,980

680,015

1,185

208,539

5,241

DEPRECIATION

At 1 February 2024

269,664

172,834

821

93,022

2,987

Charge for year

120,287

80,636

121

38,808

722

Eliminated on disposal

(8,154

)

-

-

(6,800

)

(1,354

)

At 31 January 2025

381,797

253,470

942

125,030

2,355

NET BOOK VALUE

At 31 January 2025

513,183

426,545

243

83,509

2,886

At 31 January 2024

569,359

479,981

364

86,531

2,483

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant &

Motor

Totals

machinery

vehicles

£

£

£

COST

At 1 February 2024

549,238

504,743

44,495

Additions

43,485

-

43,485

Transfer to ownership

(11,995

)

(11,995

)

-

At 31 January 2025

580,728

492,748

87,980

DEPRECIATION

At 1 February 2024

110,500

87,403

23,097

Charge for year

76,637

61,440

15,197

Transfer to ownership

(5,854

)

(5,854

)

-

At 31 January 2025

181,283

142,989

38,294

NET BOOK VALUE

At 31 January 2025

399,445

349,759

49,686

At 31 January 2024

438,738

417,340

21,398

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

190,878

175,058

Sundry debtors

390,514

399,163

Directors' current accounts

57,793

14,890

VAT

-

20,678

Prepayments

-

7,000

639,185

616,789

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Other loans

41,624

36,913

Hire purchase contracts

119,847

104,188

Trade creditors

42,491

64,043

Corporation Tax

19,883

-

Social security and other taxes

14,181

12,174

VAT

18,704

-

Directors' current accounts

-

9,557

Accrued expenses

9,457

6,626

266,187

233,501

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Other loans - 1-2 years

3,775

30,211

Other loans - 2-5 years

100,000

103,523

Hire purchase contracts

205,987

285,834

309,762

419,568

9.	SECURED DEBTS

The Royal Bank of Scotland plc has a Bond and Floating Charge over all the property and undertaking of the company

Obligations under hire purchase contracts are secured over the assets to which they relate.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.25

31.1.24

value:

£

£

2,750

Ordinary A

£1

2,750

2,750

2,250

Ordinary B

£1

2,250

2,250

5,000

5,000

11.

RESERVES

Retained

earnings

£

At 1 February 2024

487,349

Profit for the year

37,358

Dividends

(39,000

)

At 31 January 2025

485,707

12.	ULTIMATE CONTROLLING PARTY