Silverfin false false 31/05/2025 01/06/2024 31/05/2025 Mr Robert Mitchell 14/04/2004 Mrs Anne Mitchell 14/04/2004 Mr James Mitchell 28/11/2023 19 September 2025 The principal activity of the company continued to be that of a sand and gravel quarry. SC266441 2025-05-31 SC266441 bus:Director1 2025-05-31 SC266441 bus:Director2 2025-05-31 SC266441 bus:Director3 2025-05-31 SC266441 2024-05-31 SC266441 core:CurrentFinancialInstruments 2025-05-31 SC266441 core:CurrentFinancialInstruments 2024-05-31 SC266441 core:Non-currentFinancialInstruments 2025-05-31 SC266441 core:Non-currentFinancialInstruments 2024-05-31 SC266441 core:ShareCapital 2025-05-31 SC266441 core:ShareCapital 2024-05-31 SC266441 core:RetainedEarningsAccumulatedLosses 2025-05-31 SC266441 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC266441 core:PlantMachinery 2024-05-31 SC266441 core:Vehicles 2024-05-31 SC266441 core:PlantMachinery 2025-05-31 SC266441 core:Vehicles 2025-05-31 SC266441 2024-06-01 2025-05-31 SC266441 bus:FilletedAccounts 2024-06-01 2025-05-31 SC266441 bus:SmallEntities 2024-06-01 2025-05-31 SC266441 bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 SC266441 bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 SC266441 bus:Director1 2024-06-01 2025-05-31 SC266441 bus:Director2 2024-06-01 2025-05-31 SC266441 bus:Director3 2024-06-01 2025-05-31 SC266441 core:PlantMachinery core:TopRangeValue 2024-06-01 2025-05-31 SC266441 core:Vehicles core:TopRangeValue 2024-06-01 2025-05-31 SC266441 2023-06-01 2024-05-31 SC266441 core:PlantMachinery 2024-06-01 2025-05-31 SC266441 core:Vehicles 2024-06-01 2025-05-31 SC266441 core:CurrentFinancialInstruments 2024-06-01 2025-05-31 SC266441 core:Non-currentFinancialInstruments 2024-06-01 2025-05-31 iso4217:GBP xbrli:pure

Company No: SC266441 (Scotland)

# COWAL SAND & GRAVEL LTD

### Unaudited Financial Statements
For the financial year ended 31 May 2025
Pages for filing with the registrar

COWAL SAND & GRAVEL LTD

## Unaudited Financial Statements

For the financial year ended 31 May 2025

Contents

COWAL SAND & GRAVEL LTD

## BALANCE SHEET

As at 31 May 2025
COWAL SAND & GRAVEL LTD

## BALANCE SHEET (continued)

As at 31 May 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 934,102 |  | 777,574
|  | 934,102 |  | 777,574
Current assets |  |  |  |
Stocks |  | 1,500 |  | 1,000
Debtors | 5 | 187,715 |  | 111,296
Cash at bank and in hand |  | 127,643 |  | 119,339
|  | 316,858 |  | 231,635
Creditors: amounts falling due within one year | 6 | ( 328,661) |  | ( 325,470)
Net current liabilities |  | (11,803) |  | (93,835)
Total assets less current liabilities |  | 922,299 |  | 683,739
Creditors: amounts falling due after more than one year | 7 | ( 120,020) |  | ( 12,500)
Provision for liabilities |  | ( 149,207) |  | ( 148,452)
Net assets |  | 653,072 |  | 522,787
Capital and reserves |  |  |  |
Called-up share capital |  | 100 |  | 100
Profit and loss account |  | 652,972 |  | 522,687
Total shareholders' funds |  | 653,072 |  | 522,787

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

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- 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; 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 Profit and Loss Account has not been delivered.

The financial statements of Cowal Sand & Gravel Ltd (registered number: SC266441) were approved and authorised for issue by the Board of Directors on 19 September 2025. They were signed on its behalf by:

Mr Robert Mitchell Director |

COWAL SAND & GRAVEL LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2025
COWAL SAND & GRAVEL LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 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

Cowal Sand & Gravel Ltd (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 Killellan Farm, Toward, Dunoon, Argyll & Bute, PA23 7UJ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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 £.

##### Foreign currency

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transaction. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

##### 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 other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

##### Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

##### Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end 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 initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery | 10 years straight line
Vehicles | 10 years straight line

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
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
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 Profit and Loss Account as described below.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet 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 sett the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) 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. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

#### 3. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 5 |  | 5

#### 4. Tangible assets

| Plant and machinery |  | Vehicles |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 June 2024 | 809,845 |  | 216,750 |  | 1,026,595
Additions | 6,870 |  | 245,799 |  | 252,669
At 31 May 2025 | 816,715 |  | 462,549 |  | 1,279,264
Accumulated depreciation |  |  |  |  |
At 01 June 2024 | 183,196 |  | 65,825 |  | 249,021
Charge for the financial year | 59,255 |  | 36,886 |  | 96,141
At 31 May 2025 | 242,451 |  | 102,711 |  | 345,162
Net book value |  |  |  |  |
At 31 May 2025 | 574,264 |  | 359,838 |  | 934,102
At 31 May 2024 | 626,649 |  | 150,925 |  | 777,574

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 97,286 |  | 66,325
Other debtors | 90,429 |  | 44,971
| 187,715 |  | 111,296

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

| 2025 |  | 2024
| £ |  | £
Bank loans | 5,000 |  | 10,000
Trade creditors | 36,273 |  | 40,122
Other taxation and social security | 24,241 |  | 16,324
Obligations under finance leases and hire purchase contracts | 22,893 |  | 15,000
Other creditors | 240,254 |  | 244,024
| 328,661 |  | 325,470

Hire Purchase obligations totalling £22,893 (2024 - £15,000) are included under 'Obligations under finance leases and hire purchase contracts' and are secured over the assets concerned.

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

| 2025 |  | 2024
| £ |  | £
Obligations under finance leases and hire purchase contracts | 120,020 |  | 12,500

Hire purchase obligations totalling £120,020 (2024 - £12,500) are included in 'Obligations under finance leases and hire purchase contracts' and are secured over the assets concerned.

#### 8. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Key management personnel | 235,129 |  | 250,866

The above amount owed to the directors is included in 'Other Creditors'. It does not bear interest and has no fixed terms for repayment.