Silverfin false false 31/03/2025 01/04/2024 31/03/2025 Colin Alexander Herd 19/06/2014 16 October 2025 The principal activity of the Company continued to be that of sheet metalworkers. SC061522 2025-03-31 SC061522 bus:Director1 2025-03-31 SC061522 2024-03-31 SC061522 core:CurrentFinancialInstruments 2025-03-31 SC061522 core:CurrentFinancialInstruments 2024-03-31 SC061522 core:Non-currentFinancialInstruments 2025-03-31 SC061522 core:Non-currentFinancialInstruments 2024-03-31 SC061522 core:ShareCapital 2025-03-31 SC061522 core:ShareCapital 2024-03-31 SC061522 core:RetainedEarningsAccumulatedLosses 2025-03-31 SC061522 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC061522 core:OtherPropertyPlantEquipment 2024-03-31 SC061522 core:OtherPropertyPlantEquipment 2025-03-31 SC061522 core:CostValuation 2024-03-31 SC061522 core:CostValuation 2025-03-31 SC061522 2023-03-31 SC061522 bus:OrdinaryShareClass1 2025-03-31 SC061522 core:WithinOneYear 2025-03-31 SC061522 core:WithinOneYear 2024-03-31 SC061522 core:BetweenOneFiveYears 2025-03-31 SC061522 core:BetweenOneFiveYears 2024-03-31 SC061522 core:ParentEntities 2025-03-31 SC061522 core:ParentEntities 2024-03-31 SC061522 core:KeyManagementPersonnel 2025-03-31 SC061522 core:KeyManagementPersonnel 2024-03-31 SC061522 2024-04-01 2025-03-31 SC061522 bus:FilletedAccounts 2024-04-01 2025-03-31 SC061522 bus:SmallEntities 2024-04-01 2025-03-31 SC061522 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 SC061522 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC061522 bus:Director1 2024-04-01 2025-03-31 SC061522 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 SC061522 2023-04-01 2024-03-31 SC061522 core:CurrentFinancialInstruments 2024-04-01 2025-03-31 SC061522 core:Non-currentFinancialInstruments 2024-04-01 2025-03-31 SC061522 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 SC061522 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC061522 core:KeyManagementPersonnel 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC061522 (Scotland)

# W.A. MCGARRIE & SON LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH THE REGISTRAR

W.A. MCGARRIE & SON LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

Contents

W.A. MCGARRIE & SON LIMITED

## BALANCE SHEET

AS AT 31 MARCH 2025
W.A. MCGARRIE & SON LIMITED

## BALANCE SHEET (continued)

AS AT 31 MARCH 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 215,683 |  | 197,059
Investments | 4 | 50 |  | 50
|  | 215,733 |  | 197,109
Current assets |  |  |  |
Stocks | 5 | 156,471 |  | 133,315
Debtors | 6 | 487,508 |  | 2,360,242
Cash at bank and in hand | 7 | 255,933 |  | 114,168
|  | 899,912 |  | 2,607,725
Creditors: amounts falling due within one year | 8 | ( 302,208) |  | ( 300,136)
Net current assets |  | 597,704 |  | 2,307,589
Total assets less current liabilities |  | 813,437 |  | 2,504,698
Creditors: amounts falling due after more than one year | 9 | ( 3,512) |  | ( 13,950)
Provision for liabilities | 10, 11 | ( 51,123) |  | ( 46,290)
Net assets |  | 758,802 |  | 2,444,458
Capital and reserves |  |  |  |
Called-up share capital | 12 | 5,000 |  | 5,000
Profit and loss account |  | 753,802 |  | 2,439,458
Total shareholder's funds |  | 758,802 |  | 2,444,458

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

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of W.a. Mcgarrie & Son Limited (registered number: SC061522) were approved and authorised for issue by the Director on 16 October 2025. They were signed on its behalf by:

Colin Alexander Herd Director |

W.A. MCGARRIE & SON LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
W.A. MCGARRIE & SON LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

W.a. Mcgarrie & Son Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Lower Harbour, Perth, PH2 8BB, United Kingdom.
The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

##### 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 trade discounts.
Revenue is recognised on the accruals basis.

##### Employee benefits

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

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. | 20 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
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.

##### Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews 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).

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.
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.

##### Cash and cash equivalents

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

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, 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 payments 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. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

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.

##### Provisions

Deferred tax provisions are recognised when the Company has a 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 Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 32 |  | 33

#### 3. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2024 | 444,501 |  | 444,501
Additions | 71,186 |  | 71,186
Disposals | ( 18,515) |  | ( 18,515)
At 31 March 2025 | 497,172 |  | 497,172
Accumulated depreciation |  |  |
At 01 April 2024 | 247,442 |  | 247,442
Charge for the financial year | 51,947 |  | 51,947
Disposals | ( 17,900) |  | ( 17,900)
At 31 March 2025 | 281,489 |  | 281,489
Net book value |  |  |
At 31 March 2025 | 215,683 |  | 215,683
At 31 March 2024 | 197,059 |  | 197,059

#### 4. Fixed asset investments

| Other investments |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 April 2024 | 50 |  | 50
At 31 March 2025 | 50 |  | 50
Carrying value at 31 March 2025 | 50 |  | 50
Carrying value at 31 March 2024 | 50 |  | 50

#### 5. Stocks

| 2025 |  | 2024
| £ |  | £
Stocks | 31,500 |  | 17,500
Work in progress | 124,971 |  | 115,815
| 156,471 |  | 133,315

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 379,331 |  | 515,300
Amounts owed by Group undertakings (note 14) | 0 |  | 1,727,648
Other debtors | 108,177 |  | 117,294
| 487,508 |  | 2,360,242

#### 7. Cash and cash equivalents

| 2025 |  | 2024
| £ |  | £
Cash at bank and in hand | 255,933 |  | 114,168

#### 8. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 10,419 |  | 10,162
Trade creditors | 138,809 |  | 98,228
Amounts owed to Group undertakings (note 14) | 4,671 |  | 0
Corporation tax | 87,323 |  | 124,801
Other taxation and social security | 24,206 |  | 28,873
Other creditors | 36,780 |  | 38,072
| 302,208 |  | 300,136

Bank borrowings relate to the bounce back loan scheme and are fully covered by a government backed guarantee.

#### 9. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 3,512 |  | 13,950

Bank borrowings relate to the bounce back loan scheme and are fully covered by a government backed guarantee.

#### 10. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 51,123 |  | 46,290

#### 11. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 46,290) |  | ( 50,259)
(Charged)/credited to the Statement of Income and Retained Earnings | ( 4,833) |  | 3,969
At the end of financial year | ( 51,123) |  | ( 46,290)

#### 12. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
5,000 Ordinary shares of £ 1.00 each | 5,000 |  | 5,000

#### 13. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 |  | 2024
| £ |  | £
within one year | 1,480 |  | 1,480
between one and five years | 2,960 |  | 4,440
| 4,440 |  | 5,920

#### 14. Related party transactions

Transactions with group companies

Amounts owed by Group undertakings

| 2025 |  | 2024
| £ |  | £
Inter-co loan | 0 |  | 1,727,648

Amounts owed to Group undertakings

| 2025 |  | 2024
| £ |  | £
Inter-co loan | 4,671 |  | 0

The loan is unsecured, interest free and repayable on demand.
Borrowings of the parent company totalling £190,366 (2023 - £590,366) are secured by a bond and floating charge over the property of the company.

Transactions with the entity’s director (or members of its governing body)

Amounts owed by director

| 2025 |  | 2024
| £ |  | £
Director's current account | 204 |  | 0

Amounts owed to director

| 2025 |  | 2024
| £ |  | £
Director's current account | 0 |  | 2

Advances have been made in this period to the Director totalling £206 and £0 has been repaid. This loan is unsecured, interest free and repayable on demand.