REGISTERED NUMBER: SC353433 (Scotland)

FPP (SCOTLAND) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

7

DIRECTORS:

G B Kinninmont

I Morton

C Burke

REGISTERED OFFICE:

24 Queen Elizabeth Avenue

Hillington

Glasgow

G52 4NQ

REGISTERED NUMBER:

SC353433 (Scotland)

ACCOUNTANTS:

BK Plus Ltd

1875 Great Western Road

Glasgow

G13 2YD

FIXED ASSETS

Tangible assets

4

164,529

185,166

CURRENT ASSETS

Stocks

5

686,882

631,709

Debtors

6

445,148

1,239,637

Cash at bank and in hand

6,401,598

4,473,408

7,533,628

6,344,754

CREDITORS

Amounts falling due within one year

7

1,641,269

1,533,807

NET CURRENT ASSETS

5,892,359

4,810,947

TOTAL ASSETS LESS CURRENT LIABILITIES

6,056,888

4,996,113

PROVISIONS FOR LIABILITIES

9

-

2,289

NET ASSETS

6,056,888

4,993,824

CAPITAL AND RESERVES

Called up share capital

10

484

484

Share premium

11

489,762

489,762

Capital redemption reserve

11

100

100

Retained earnings

11

5,566,542

4,503,478

SHAREHOLDERS' FUNDS

6,056,888

4,993,824

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2025 and were signed on its behalf by:

G B Kinninmont - Director

I Morton - Director

1.	STATUTORY INFORMATION

FPP (Scotland) 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.

Turnover

Turnover comprises the invoice value of goods (excluding VAT) sold to customers, less trade allowances and discounts.

Tangible fixed assets

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

Heritable property

-

2% on cost

Tenants improvements

-

20% on reducing balance

Plant and machinery

-

15% on cost

Office equipment

-

33% on reducing balance

Motor vehicles

-

25% on cost

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 9 (2024 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Heritable

Tenants

Plant and

property

improvements

machinery

£

£

£

COST

At 1 September 2024

and 31 August 2025

161,820

6,125

45,651

DEPRECIATION

At 1 September 2024

22,108

4,280

45,649

Charge for year

3,236

369

-

At 31 August 2025

25,344

4,649

45,649

NET BOOK VALUE

At 31 August 2025

136,476

1,476

2

At 31 August 2024

139,712

1,845

2

Office

Motor

equipment

vehicles

Totals

£

£

£

COST

At 1 September 2024

and 31 August 2025

12,860

108,851

335,307

DEPRECIATION

At 1 September 2024

9,882

68,222

150,141

Charge for year

982

16,050

20,637

At 31 August 2025

10,864

84,272

170,778

NET BOOK VALUE

At 31 August 2025

1,996

24,579

164,529

At 31 August 2024

2,978

40,629

185,166

5.

STOCKS

2025

2024

£

£

Stocks

686,882

631,709

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

409,678

1,174,473

Other debtors

141

29,300

Prepayments and accrued income

35,329

35,864

445,148

1,239,637

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,119,520

817,482

Corporation tax

256,366

411,440

Social security and other taxes

15,733

9,333

VAT

171,164

210,936

Other creditors

38,865

36,602

Directors' current accounts

4,821

50

Accruals and deferred income

34,800

47,964

1,641,269

1,533,807

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

75,667

75,000

Between one and five years

90,667

135,000

166,334

210,000

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

-

2,289

Deferred

tax

£

Balance at 1 September 2024

2,289

Credit to Income Statement during year

(2,289

)

Balance at 31 August 2025

-

The provision for deferred tax consists of the tax effect of timing differences in respect of the excess of taxation allowances over depreciation on fixed assets.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

484

Ordinary

£1

484

484

11.

RESERVES

Capital

Retained

Share

redemption

earnings

premium

reserve

Totals

£

£

£

£

At 1 September 2024

4,503,478

489,762

100

4,993,340

Profit for the year

1,063,064

1,063,064

At 31 August 2025

5,566,542

489,762

100

6,056,404

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2025 and 31 August 2024:

2025

2024

£

£

G B Kinninmont

Balance outstanding at start of year

-

979

Amounts repaid

-

(979

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

The loan is interest free and repayable on demand.

13.	RELATED PARTY DISCLOSURES

Repayments to the commercial loan owed to the company by the wife of a director amounted to £5,789. Interest at 2.25% per annum was charged on the outstanding loan balance which amounted to £77. At the year-end, the company was owed £77 (2024 : £5,789) which is included within other debtors. This amount was repaid post year end.

The property from which the company trades is 50% owned by the wives of the directors I Morton and G Kinninmont who each own 25% of the property. Rent of £60,000 was paid to these individuals during the year.

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 Balance Sheet. 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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of FPP (Scotland) Limited for the year ended 31 August 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the Board of Directors of FPP (Scotland) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of FPP (Scotland) Limited and state those matters that we have agreed to state to the Board of Directors of FPP (Scotland) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/gb/en/technical-activities/technical-resources-

search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that FPP (Scotland) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of FPP (Scotland) Limited. You consider that FPP (Scotland) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of FPP (Scotland) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

BK Plus Ltd

1875 Great Western Road

Glasgow

G13 2YD

1 December 2025