REGISTERED NUMBER: SC355514 (Scotland)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

TPS Scotland Ltd

Page

Company Information

1

Income Statement

2

Statement of Financial Position

3

Notes to the Financial Statements

5

Report of the Accountants

9

DIRECTORS:

G Murphy

Mrs C Murphy

Mrs E Holmes

SECRETARY:

G Murphy

REGISTERED OFFICE:

26 Kelvin Avenue

Hillington Park

Glasgow

G52 4LT

REGISTERED NUMBER:

SC355514 (Scotland)

ACCOUNTANTS:

William Watson & Co Accountants Ltd

51 Lynnhurst

Uddingston

G71 6SA

TURNOVER

1,393,343

1,460,560

Cost of sales

1,116,404

1,153,643

GROSS PROFIT

276,939

306,917

Distribution costs

85,264

112,719

Administrative expenses

105,615

137,299

190,879

250,018

OPERATING PROFIT

4

86,060

56,899

Interest payable and similar expenses

1,823

1,850

PROFIT BEFORE TAXATION

84,237

55,049

Tax on profit

19,921

11,996

PROFIT FOR THE FINANCIAL YEAR

64,316

43,053

FIXED ASSETS

Intangible assets

5

5,000

6,000

Tangible assets

6

3,266

3,842

8,266

9,842

CURRENT ASSETS

Stocks

59,221

71,675

Debtors

7

119,323

195,272

Cash at bank and in hand

704

23,178

179,248

290,125

CREDITORS

Amounts falling due within one year

8

168,384

276,907

NET CURRENT ASSETS

10,864

13,218

TOTAL ASSETS LESS CURRENT LIABILITIES

19,130

23,060

CREDITORS

Amounts falling due after more than one year

9

6,444

11,908

NET ASSETS

12,686

11,152

CAPITAL AND RESERVES

Called up share capital

105

105

Retained earnings

10

12,581

11,047

SHAREHOLDERS' FUNDS

12,686

11,152

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2025 and were signed on its behalf by:

G Murphy - Director

1.	STATUTORY INFORMATION

TPS Scotland Ltd 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

15% on reducing balance

Stocks

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

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

28.2.25

29.2.24

£

£

Depreciation - owned assets

576

750

Goodwill amortisation

1,000

1,000

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2024

and 28 February 2025

20,000

AMORTISATION

At 1 March 2024

14,000

Amortisation for year

1,000

At 28 February 2025

15,000

NET BOOK VALUE

At 28 February 2025

5,000

At 29 February 2024

6,000

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2024

and 28 February 2025

13,603

DEPRECIATION

At 1 March 2024

9,761

Charge for year

576

At 28 February 2025

10,337

NET BOOK VALUE

At 28 February 2025

3,266

At 29 February 2024

3,842

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade debtors

112,382

178,707

VAT

3,615

13,239

Prepayments

3,326

3,326

119,323

195,272

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade creditors

112,522

222,799

Tax

20,316

11,996

Social security and other taxes

6,571

9,526

Other creditors

-

3,621

Pension creditor

2,789

-

Directors' current accounts

13,007

6,202

Accruals and deferred income

7,000

12,162

Accrued expenses

4,000

7,595

Company credit card

2,179

3,006

168,384

276,907

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

29.2.24

£

£

Bounce back loan

6,444

11,908

10.

RESERVES

Retained

earnings

£

At 1 March 2024

11,047

Profit for the year

64,316

Dividends

(62,782

)

At 28 February 2025

12,581

11.

DONATIONS

The company sponsors a local football team Hillwood and makes charitable donations to Maggies a cancer charity. These amount to £1,225.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 28 February 2025 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

William Watson & Co Accountants Ltd

51 Lynnhurst

Uddingston

G71 6SA

5 November 2025