REGISTERED NUMBER: SC015071 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 September 2025

for

Gray & Pringle Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Reekie

SECRETARY:

R Reekie

REGISTERED OFFICE:

Station Road

Anstruther

Fife

KY10 3JA

REGISTERED NUMBER:

SC015071 (Scotland)

ACCOUNTANTS:

Henderson Black & Co

Chartered Accountants

28 Rodger Street

Anstruther

Fife

KY10 3DU

FIXED ASSETS

Tangible assets

4

13,673

53,691

Investments

5

1,100

1,100

14,773

54,791

CURRENT ASSETS

Stocks

295,450

300,000

Debtors

6

1,023,338

737,224

Cash at bank and in hand

2,327,885

2,070,784

3,646,673

3,108,008

CREDITORS

Amounts falling due within one year

7

423,094

464,278

NET CURRENT ASSETS

3,223,579

2,643,730

TOTAL ASSETS LESS CURRENT LIABILITIES

3,238,352

2,698,521

PROVISIONS FOR LIABILITIES

3,418

2,011

NET ASSETS

3,234,934

2,696,510

CAPITAL AND RESERVES

Called up share capital

4,056

4,056

Capital redemption reserve

3,744

3,744

Retained earnings

3,227,134

2,688,710

SHAREHOLDERS' FUNDS

3,234,934

2,696,510

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 1 December 2025 and were signed by:

R Reekie - Director

1.	STATUTORY INFORMATION

Gray & Pringle Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily available from other sources. The estimates and associated assumptions are based on historical experience and other factors that are to be relevant. Actual results may differ from these estimates. In preparing these financial statements, the director has made the following judgements:

Accruals

The director estimates the requirements for accruals using post year end information. This identifies costs that are expected to be incurred for services provided by other parties. Accruals are only released when there is a reasonable expectation that these costs will not be invoiced in the future.

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.

The directors have made judgements in determining the stage of completion of construction projects at the reporting date. These judgements affect the timing of revenue recognition and the carrying amount of deferred income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods 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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

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

Leasehold improvements

-

10% on cost, straight line

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost, straight line

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 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.

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 the profit and loss account in the period to which they relate.

Investments

Fixed Asset Investments are unlisted and are stated at cost unless, in the opinion of the directors, there has been an impairment, in which case an appropriate adjustment is made.

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 current liabilities.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including 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.

Classification of financial liabilities

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 and 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, recognised at transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

and

Motor

Computer

improvements

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 October 2024

55,909

48,657

122,092

1,994

228,652

Disposals

-

-

(48,051

)

-

(48,051

)

At 30 September 2025

55,909

48,657

74,041

1,994

180,601

DEPRECIATION

At 1 October 2024

55,908

44,335

72,728

1,990

174,961

Charge for year

-

649

3,331

-

3,980

Eliminated on disposal

-

-

(12,013

)

-

(12,013

)

At 30 September 2025

55,908

44,984

64,046

1,990

166,928

NET BOOK VALUE

At 30 September 2025

1

3,673

9,995

4

13,673

At 30 September 2024

1

4,322

49,364

4

53,691

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 October 2024

and 30 September 2025

1,100

NET BOOK VALUE

At 30 September 2025

1,100

At 30 September 2024

1,100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

£

£

Trade debtors

609,021

716,292

Other debtors

414,317

20,932

1,023,338

737,224

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

£

£

Trade creditors

165,813

188,701

Taxation and social security

237,295

265,106

Other creditors

19,986

10,471

423,094

464,278

8.	RELATED PARTY DISCLOSURES

The company trades from a site in Station Road, owned by a company in which the director, Mr Robert Reekie is a director and shareholder. The company has rented the site since 1 October 2008, the rent paid during the year was £60,000 (2024 £55,000).

Included within other debtors is a loan advanced to R & K Properties Ltd, a company owned by the director, interest has been charged at the Bank of England base rate. During 2024 the company forgave a loan of £503,991 to R & K Properties Ltd and £285,066 to R & K Holiday Properties Ltd, another company owned by the director.