Silverfin false false 31/03/2025 01/04/2024 31/03/2025 Russell Neish Bain 17/07/2015 12 November 2025 The principal activity of the Company during the financial year was that of removals and storage services. SC511050 2025-03-31 SC511050 bus:Director1 2025-03-31 SC511050 2024-03-31 SC511050 core:CurrentFinancialInstruments 2025-03-31 SC511050 core:CurrentFinancialInstruments 2024-03-31 SC511050 core:Non-currentFinancialInstruments 2025-03-31 SC511050 core:Non-currentFinancialInstruments 2024-03-31 SC511050 core:ShareCapital 2025-03-31 SC511050 core:ShareCapital 2024-03-31 SC511050 core:RetainedEarningsAccumulatedLosses 2025-03-31 SC511050 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC511050 core:OtherPropertyPlantEquipment 2024-03-31 SC511050 core:OtherPropertyPlantEquipment 2025-03-31 SC511050 core:ImmediateParent core:CurrentFinancialInstruments 2025-03-31 SC511050 core:ImmediateParent core:CurrentFinancialInstruments 2024-03-31 SC511050 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2025-03-31 SC511050 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2024-03-31 SC511050 core:MoreThanFiveYears 2025-03-31 SC511050 core:MoreThanFiveYears 2024-03-31 SC511050 2023-03-31 SC511050 bus:OrdinaryShareClass1 2025-03-31 SC511050 core:ImmediateParent 2025-03-31 SC511050 core:ImmediateParent 2024-03-31 SC511050 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries 2025-03-31 SC511050 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries 2024-03-31 SC511050 2024-04-01 2025-03-31 SC511050 bus:FilletedAccounts 2024-04-01 2025-03-31 SC511050 bus:SmallEntities 2024-04-01 2025-03-31 SC511050 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 SC511050 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC511050 bus:Director1 2024-04-01 2025-03-31 SC511050 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 SC511050 2023-04-01 2024-03-31 SC511050 core:CurrentFinancialInstruments 2024-04-01 2025-03-31 SC511050 core:Non-currentFinancialInstruments 2024-04-01 2025-03-31 SC511050 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 SC511050 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC511050 (Scotland)

# PRECISION REMOVALS AND STORAGE LIMITED

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

PRECISION REMOVALS AND STORAGE LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

Contents

PRECISION REMOVALS AND STORAGE LIMITED

## BALANCE SHEET

AS AT 31 MARCH 2025
PRECISION REMOVALS AND STORAGE LIMITED

## BALANCE SHEET (continued)

AS AT 31 MARCH 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 53,389 |  | 42,146
|  | 53,389 |  | 42,146
Current assets |  |  |  |
Stocks | 4 | 15,816 |  | 19,770
Debtors | 5 | 132,478 |  | 97,872
Cash at bank and in hand | 6 | 10,810 |  | 13,081
|  | 159,104 |  | 130,723
Creditors: amounts falling due within one year | 7 | ( 94,287) |  | ( 78,896)
Net current assets |  | 64,817 |  | 51,827
Total assets less current liabilities |  | 118,206 |  | 93,973
Creditors: amounts falling due after more than one year | 8 | ( 78,772) |  | ( 22,855)
Provision for liabilities | 9, 10 | 1,651 |  | ( 5,627)
Net assets |  | 41,085 |  | 65,491
Capital and reserves |  |  |  |
Called-up share capital | 11 | 1 |  | 1
Profit and loss account |  | 41,084 |  | 65,490
Total shareholder's funds |  | 41,085 |  | 65,491

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 Precision Removals And Storage Limited (registered number: SC511050) were approved and authorised for issue by the Director on 12 November 2025. They were signed on its behalf by:

Russell Neish Bain Director |

PRECISION REMOVALS AND STORAGE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
PRECISION REMOVALS AND STORAGE 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

Precision Removals And Storage 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 Caledonian Exchange, 19a Canning Street, Edinburgh, EH3 8HE, Scotland, 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 represents amounts receivable for removals and storage services net of VAT and trade discounts. Revenue is recognised when the company is entitled to the income in exchange for the provision of services.

##### 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 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.

##### 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 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).

##### 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.
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 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 bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors 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.

##### Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

##### 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 | 8 |  | 8

#### 3. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2024 | 130,808 |  | 130,808
Additions | 28,000 |  | 28,000
At 31 March 2025 | 158,808 |  | 158,808
Accumulated depreciation |  |  |
At 01 April 2024 | 88,662 |  | 88,662
Charge for the financial year | 16,757 |  | 16,757
At 31 March 2025 | 105,419 |  | 105,419
Net book value |  |  |
At 31 March 2025 | 53,389 |  | 53,389
At 31 March 2024 | 42,146 |  | 42,146

#### 4. Stocks

| 2025 |  | 2024
| £ |  | £
Stocks | 15,816 |  | 19,770

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Amounts owed by Parent undertakings (note 13) | 60,899 |  | 44,525
Amounts owed by fellow subsidiaries (note 13) | 65,211 |  | 43,664
Other debtors | 6,368 |  | 9,683
| 132,478 |  | 97,872

#### 6. Cash and cash equivalents

| 2025 |  | 2024
| £ |  | £
Cash at bank and in hand | 10,810 |  | 13,081

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

| 2025 |  | 2024
| £ |  | £
Bank loans | 10,112 |  | 10,439
Other taxation and social security | 15,333 |  | 16,366
Obligations under finance leases and hire purchase contracts | 17,285 |  | 9,002
Other creditors | 51,557 |  | 43,089
| 94,287 |  | 78,896

Obligations under finance leases and hire purchase contracts are secured over the assets to which they relate.
Bank borrowings relate to the bounce back loan scheme and are fully covered by a government backed guarantee.
Included in other creditors is a loan amount of (£7,680) 2025 which is secured by a personal guarantee from the director.

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

| 2025 |  | 2024
| £ |  | £
Bank loans | 1,559 |  | 11,207
Obligations under finance leases and hire purchase contracts | 11,222 |  | 7,949
Other creditors | 65,991 |  | 3,699
| 78,772 |  | 22,855

Obligations under finance leases and hire purchase contracts are secured over the assets to which they relate.
Bank borrowings relate to the bounce back loan scheme and are fully covered by a government backed guarantee.
Included in other creditors is a loan amount of (£63,525) 2025 which is secured by a personal guarantee from the director.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

| 2025 |  | 2024
| £ |  | £
Other creditors (repayable by instalments) | 11,329 |  | 0

#### 9. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | ( 1,651) |  | 5,627

#### 10. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 5,627) |  | ( 12,417)
Credited to the Statement of Income and Retained Earnings | 7,278 |  | 6,790
At the end of financial year | 1,651 |  | ( 5,627)

#### 11. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1 Ordinary share of £ 1.00 | 1 |  | 1

#### 12. Financial commitments

Commitments

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

| 2025 |  | 2024
| £ |  | £
within one year | 50,000 |  | 50,000

Other financial commitments

#### 13. Related party transactions

Transactions with group companies

Amounts owed by Parent undertakings

| 2025 |  | 2024
| £ |  | £
Amounts due from Parent Undertaking | 60,899 |  | 44,525

Amounts owed by fellow subsidiaries

| 2025 |  | 2024
| £ |  | £
Amounts owed by connect company | 65,211 |  | 43,664