REGISTERED NUMBER: SC167125 (Scotland)

Unaudited Financial Statements for the Year Ended 31 July 2025

for

PFP Contracting Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

1,092,032

1,166,474

Investment property

5

2,963,993

2,963,993

4,056,025

4,130,467

CURRENT ASSETS

Stocks

3,500

3,500

Debtors

6

3,010,087

1,807,439

Cash at bank and in hand

5,479,634

4,023,964

8,493,221

5,834,903

CREDITORS

Amounts falling due within one year

7

(2,168,379

)

(3,183,897

)

NET CURRENT ASSETS

6,324,842

2,651,006

TOTAL ASSETS LESS CURRENT LIABILITIES

10,380,867

6,781,473

PROVISIONS FOR LIABILITIES

(215,013

)

(222,194

)

NET ASSETS

10,165,854

6,559,279

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

10,165,852

6,559,277

SHAREHOLDERS' FUNDS

10,165,854

6,559,279

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 31 October 2025 and were signed on its behalf by:

C Frew - Director

1.	STATUTORY INFORMATION

PFP Contracting Limited is a private company, limited by shares, domiciled in Scotland, registration number SC167125. The registered office is PFP House, 229 Bo'ness Road, Grangemouth, FK3 9XF.

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.

Turnover

Turnover represents the total invoice value, excluding Value Added Tax, of passive fire protection services carried out during the year. Turnover on long-term contracts is recognised at the appropriate stage of completion and is assessed on a contract by contract basis. Turnover on day works is recognised as and when the work is carried out.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost and not provided

Plant and machinery etc

-

33% on cost, 25% on reducing balance, 20% on reducing balance, 20% on cost and 10% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged 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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is

determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Long term contracts

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of work done, after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

Profit on long term contracts is recognised as the work is carried out, only if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of work carried out at the year end, by recording turnover and related costs as contract activity accordingly. Revenue derived from variations on contracts is recognised only when the variations have been accepted by the customers.

Full provision is made for losses on all contracts in the year in which they are first foreseen.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2024 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 August 2024

962,332

1,036,643

1,998,975

Additions

-

35,652

35,652

Disposals

-

(40,350

)

(40,350

)

At 31 July 2025

962,332

1,031,945

1,994,277

DEPRECIATION

At 1 August 2024

111,483

721,018

832,501

Charge for year

12,382

78,808

91,190

Eliminated on disposal

-

(21,446

)

(21,446

)

At 31 July 2025

123,865

778,380

902,245

NET BOOK VALUE

At 31 July 2025

838,467

253,565

1,092,032

At 31 July 2024

850,849

315,625

1,166,474

Included in cost of land and buildings is freehold land of £ 343,218 (2024 - £ 343,218 ) which is not depreciated.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2024

and 31 July 2025

2,963,993

NET BOOK VALUE

At 31 July 2025

2,963,993

At 31 July 2024

2,963,993

Included in fair value of investment property is freehold land of £ 158,891 (2024 - £ 158,891 ) which is not depreciated.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Trade debtors

1,920,919

942,520

Amounts recoverable on contract

806,666

720,479

Other debtors

282,502

144,440

3,010,087

1,807,439

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Trade creditors

571,911

1,196,910

Taxation and social security

201,885

860,868

Other creditors

1,394,583

1,126,119

2,168,379

3,183,897