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Registered number: SC670076 NORTH EAST MACHINERY SALES LIMITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025
NORTH EAST MACHINERY SALES LIMITED COMPANY INFORMATION
Directors | Ian C Thomson
| James A Thomson
| Ian A Thomson
Registered number | SC670076
Registered office | Middleton of Potterton
| Whitecairns
| Aberdeen
| AB23 8US
NORTH EAST MACHINERY SALES LIMITED REGISTERED NUMBER: SC670076 STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
|  | 31 March |  | 31 October
|  | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 55,910 |  | 56,581
|  |  | 55,910 |  | 56,581
Current assets |  |  |  |  |
Debtors Within One Year | 5 | 9,500 |  | 77,824 |
Cash at bank and in hand |  | 3,773 |  | 410 |
|  | 13,273 |  | 78,234 |
Creditors: amounts falling due within one year | 6 | (681,838) |  | (755,260) |
Net current liabilities |  |  | (668,565) |  | (677,026)
Total assets less current liabilities |  |  | (612,655) |  | (620,445)
Net liabilities |  |  | (612,655) |  | (620,445)
Capital and reserves |  |  |  |  |
Called up share capital | 7 |  | 1,500 |  | 1,500
Profit and loss account |  |  | (614,155) |  | (621,945)
|  |  | (612,655) |  | (620,445)
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NORTH EAST MACHINERY SALES LIMITED REGISTERED NUMBER: SC670076 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 October 2025.
Ian C Thomson | James A Thomson
Director | Director
The notes on pages 3 to 5 form part of these financial statements. Page 2
NORTH EAST MACHINERY SALES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025
1. | GENERAL INFORMATION
The company is limited by shares and incorporated in Scotland. The address of the registered office is Westby, West High Street, Forfar, DD8 1BJ. The Company's functional and presentational currency is GBP. 2.ACCOUNTING POLICIES
| 2.1 | BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | GOING CONCERN
These accounts have been prepared under the going concern basis. The company has net liabilities and is dependent on the continued support of the directors. The directors have confirmed that they will continue to provide support for the foreseeable future.
| 2.3 | TANGIBLE FIXED ASSETS
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Heritable property | - |  | Not depreciated
|  |  |  | Plant and machinery | - | 12.5% | reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.4 | STOCKS
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. Page 3
NORTH EAST MACHINERY SALES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.5 | FINANCIAL INSTRUMENTS
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
3. | EMPLOYEES
The average monthly number of employees, including directors, during the year was 3 (2024- 3)
4. | TANGIBLE FIXED ASSETS
|  | Heritable property | Plant and machinery | Total
|  | £ | £ | £
| COST OR VALUATION |  |  |
| At 1 November 2024 | 55,910 | 1,116 | 57,026
| Disposals | - | (1,116) | (1,116)
| At 31 March 2025 | 55,910 | - | 55,910
| At 1 November 2024 | - | 445 | 445
| Disposals | - | (445) | (445)
| At 31 March 2025 | - | - | -
| NET BOOK VALUE |  |  |
| At 31 March 2025 | 55,910 | - | 55,910
| At 31 October 2024 | 55,910 | 671 | 56,581
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NORTH EAST MACHINERY SALES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025
5. | DEBTORS
|  |  |  |  | 31 March | 31 October
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 9,000 | 76,317
| Other debtors | - | 1,507
| Prepayments and accrued income | 500 | -
|  | 9,500 | 77,824
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|  |  |  |  | 31 March | 31 October
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 74 | -
| Other creditors | 680,764 | 754,205
| Accruals and deferred income | 1,000 | 1,055
|  | 681,838 | 755,260
7. | SHARE CAPITAL
|  |  |  |  | 31 March | 31 October
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | ALLOTTED, CALLED UP AND FULLY PAID |  |
|  | 1,500 (2024 - 1,500) Ordinary shares of £1.00 each | 1,500 | 1,500
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