Company registration number SC194613 (Scotland)
ADAM PURVES GALASHIELS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
ADAM PURVES GALASHIELS LIMITED
COMPANY INFORMATION
Directors
Lily M Purves
(Appointed 1 September 2025)
Andrew A Purves
Flora S M Purves
Angus A Towers
Secretary
Angus A Towers
Company number
SC194613
Registered office
Wilderhaugh
GALASHIELS
Scottish Borders
TD1 1PW
Auditor
JRW Hogg & Thorburn LLP
Riverside House
Ladhope Vale
GALASHIELS
TD1 1BT
Business address
Unit 2
Block 8
Tweedbank Industrial Estate
GALASHIELS
TD1 3RS
ADAM PURVES GALASHIELS LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Income statement
8
Statement of comprehensive income
9
Statement of financial position
10 - 11
Statement of changes in equity
12
Statement of cash flows
19
Notes to the financial statements
13 - 31
ADAM PURVES GALASHIELS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

The directors present the strategic report for the year ended 31 March 2025.

This strategic report has been prepared solely to provide additional information to assess the company's strategies and the potential for those strategies to succeed.

The strategic report contains certain forward-looking statements. These statements are made by the directors in good faith based on the information available to them up to the time of their approval of this report and such statements should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying any such forward-looking information.

The directors in preparing this strategic report, have complied with S414C of the Companies Act 2006.

The strategic report is only part of the company's annual accounts and reports.

Review of the business

Business Review

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end.

Our review is consistent with the size and non-complex nature of our business and is written in context of the risks and uncertainties we face.

On 1 st April 2024 the Fuel Forecourts, Convenience stores and part of the Rental Properties Divisions were demerged into a new company – Adam Purves Retail Limited. All staff relating to these divisions were transferred over with no change to their terms and conditions. This allowed the Company to focus on sales of new and used vehicles and servicing and repairs, as an Isuzu Dealer, with a long term history based in the Scottish Borders.

The reason for the demerger was to reduce overall risk and for succession planning purposes.

There was a dividend declared of £3,315,490 as part of the demerger process to transfer the assets and liabilities to the company of Adam Purves Retail Limited which was given clearance by HMRC.

We consider that our key financial performance indicators are those that communicate the financial performance and strength of the company as a whole, these being turnover, gross margin and return on capital employed.

The net profit after providing for taxation amounted to £2,866 (2024 - £2 13,038).

A review of the operations of the company during the financial year and the results of those operations, after adjusting for the divested activities, are as follows:

Turnover has de creased by 10.8%, predominantly due to a 11.6% drop in vehicle units sold.

Vehicle margins are 6.5% higher compared to the previous year.

In the service area, hours sold are up 3% on last year. With higher wage and other costs, this area of the business has not been profitable.

Part sales are 5% down on last year, and with similar issues to the service area this department did not return a profit.

Principal risks and uncertainties

The principal risks and uncertainties facing the company relate to the margin achievable on new and used vehicle sales which is influenced by the general buoyancy of the economy in the area.

ADAM PURVES GALASHIELS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Development and performance

At the year end date the net reserves have decr eased by £3,312,625 from £4,770,801 to £1,458,176. After adjusting for the dividend to demerge the retail assets, the reserves have increased by £2,865.

Key performance indicators

Financials

202 5 202 4

£ £

Earnings before, interest, tax, depreciation and gains/profits (27,309) 339,210

Net Current Assets 757,90 5 2,313,208

Return on capital employed before exceptionals (3.60%) 1 4.66%

On behalf of the board

Angus A Towers
Director
21 November 2025
ADAM PURVES GALASHIELS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -

The directors present their annual report and financial statements for the year ended 31 March 2025.

Principal activities

The principal activity of the company from 1 April 2024 was that of motor garage operators, selling new and used vehicles, servicing, parts and repairs.

The company operate s as Isuzu motor dealers at Tweedbank, Galashiels where the sales and service facilities are located.

Results and dividends

The results for the year are set out on page 8.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Lily M Purves
(Appointed 1 September 2025)
Andrew A Purves
Flora S M Purves
Angus A Towers
Auditor

The auditor, JRW Hogg & Thorburn LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor
(a) so far as the directors are aware, there is no relevant audit information of which the company's auditors are unaware, and
(b) they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Angus A Towers
Director
21 November 2025
ADAM PURVES GALASHIELS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ADAM PURVES GALASHIELS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF ADAM PURVES GALASHIELS LIMITED
- 5 -
Opinion

We have audited the financial statements of Adam Purves Galashiels Limited (the 'company') for the year ended 31 March 2025 which comprise the income statement, the statement of comprehensive income, the statement of financial position, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

ADAM PURVES GALASHIELS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF ADAM PURVES GALASHIELS LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irrrgularities, including fraud

Based on our understanding of the industry, we identified that the principal risks of non-compliance with laws and regulations related to UK corporation tax legislation, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate accounting entries to manipulate financial results and management bias in accounting estimates. Audit procedures performed by the engagement team included:

- discussions with management and those charged with governance, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud:

- evaluation of management's controls designed to prevent fraud:

- identifying and testing journal entries, in particular and journal entries posted with unusual account combinations:

- audit of accounting estimates for management bias.

There are inherent limitations in the audit procedures described above. we are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

ADAM PURVES GALASHIELS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF ADAM PURVES GALASHIELS LIMITED
- 7 -

The auditor’s explanation of its audit response will depend on the risks identified but may include:

- Enquiry of management, those charged with governance and the entity’s solicitors around actual and potential litigation and claims.

- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations.

- Reviewing minutes of meetings of those charged with governance.

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

- Revenue recognition procedures and performing cut-off procedures.

- Review of management accounts information in support to the financial statements.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

This report is made solely to the company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's member those matters we are required to state to the member in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's member, for our audit work, for this report, or for the opinions we have formed.

Andrew Wayness
Senior Statutory Auditor
For and on behalf of JRW Hogg & Thorburn LLP
21 November 2025
Riverside House
Ladhope Vale
GALASHIELS
TD1 1BT
ADAM PURVES GALASHIELS LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
2025
2024
Notes
£
£
Revenue
3
5,083,225
15,371,941
Cost of sales
(4,827,270)
(14,144,442)
Gross profit
255,955
1,227,499
Administrative expenses
(346,258)
(1,054,713)
Other operating income
46,899
101,458
Operating (loss)/profit
8
(43,404)
274,244
Investment income
6
3,161
43,046
Finance costs
7
(3,865)
(22,238)
(Loss)/profit before taxation
(44,108)
295,052
Tax on (loss)/profit
9
46,974
(82,014)
Profit for the financial year
2,866
213,038

The income statement has been prepared on the basis that all operations are continuing operations.

ADAM PURVES GALASHIELS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
2025
2024
£
£
Profit for the year
2,866
213,038
Other comprehensive income
-
-
Total comprehensive income for the year
2,866
213,038

The notes on pages 13 to 31 form part of these financial statements.

ADAM PURVES GALASHIELS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2025
31 March 2025
- 10 -
2025
2024
Notes
£
£
£
£
Non-current assets
Goodwill
11
-
0
78,300
Property, plant and equipment
14
418,929
1,619,619
Investment property
12
250,000
850,000
Investments
13
55,846
55,861
724,775
2,603,780
Current assets
Inventories
15
709,373
1,058,984
Trade and other receivables falling due after more than one year
18
-
0
1,154,181
Trade and other receivables falling due within one year
18
215,040
439,015
Cash and cash equivalents
107,407
629,980
1,031,820
3,282,160
Current liabilities
16
(273,915)
(968,952)
Net current assets
757,905
2,313,208
Total assets less current liabilities
1,482,680
4,916,988
Non-current liabilities
17
(6,146)
(29,400)
Provisions for liabilities
Deferred tax liability
20
18,357
116,787
(18,357)
(116,787)
Net assets
1,458,177
4,770,801
Equity
Called up share capital
22
408,143
408,143
Share premium account
23
127,451
127,451
Revaluation reserve
24
294,883
1,020,503
Capital redemption reserve
25
91,860
91,860
Retained earnings
26
535,840
3,122,844
Total equity
1,458,177
4,770,801

The notes on pages 13 to 31 form part of these financial statements.

ADAM PURVES GALASHIELS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 11 -

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 21 November 2025 and are signed on its behalf by:
Andrew A Purves
Director
Company registration number SC194613 (Scotland)
ADAM PURVES GALASHIELS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 12 -
Share capital
Share premium account
Revaluation reserve
Capital redemption reserve
Retained earnings
Total
Notes
£
£
£
£
£
£
Balance at 1 April 2023
408,143
127,451
1,020,503
91,860
2,966,806
4,614,763
Year ended 31 March 2024:
Profit and total comprehensive income
-
-
-
-
213,038
213,038
Dividends
10
-
-
-
-
(57,000)
(57,000)
Balance at 31 March 2024
408,143
127,451
1,020,503
91,860
3,122,844
4,770,801
Year ended 31 March 2025:
Profit and total comprehensive income
-
-
-
-
2,866
2,866
Dividends
10
-
-
-
-
(3,315,490)
(3,315,490)
Other movements
-
-
(725,620)
-
725,620
-
Balance at 31 March 2025
408,143
127,451
294,883
91,860
535,840
1,458,177

The notes on pages 13 to 31 form part of these financial statements.

ADAM PURVES GALASHIELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 13 -
1
Accounting policies
Company information

Adam Purves Galashiels Limited is a private company limited by shares incorporated in Scotland. The registered office is Wilderhaugh, GALASHIELS, Scottish Borders, TD1 1PW.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The directors have have considered the potential impact of worldwide events and are satisfied that the company has sufficient cash reserves to meet all of its financial obligations for the foreseeable future.

The directors have prepared forecasts through to March 202 6.

The budgets includes:

- The continued impact of worldwide events on the company and the wider economy

- Profit margins on the sale of new and used vehicles to remain consistent with previous years

- Rentals continuing in line with existing lease

- increased staff costs due to the increase in the national minimum wage

The directors have looked at the impact following the demerger of operations on 1 April 2024 and the budgets indicate that the company should continue to operate within its agreed borrowing limits. If any unforeseen problems arise then the company will be supported by inter-company loans under the control of the directors which will allow the company the ability to continue as a going concern for the foreseeable future.

1.3
Revenue

Revenue represents new and used vehicle sales, servicing, parts and repairs, all net of value added tax and trade discounts.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of new and used vehicle s 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.

Revenue from vehicle repairs and services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

ADAM PURVES GALASHIELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 14 -
Other income

Other income represents rentals received from properties owned by the company.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.5
Property, plant and equipment

Property, plant and equipment 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:

Land and buildings Freehold
Straight line basis over 50 years
Plant and machinery
10% - 33% 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.

1.6
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.7
Non-current investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

ADAM PURVES GALASHIELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 15 -
1.8
Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.9
Inventories

Inventories 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 inventories to their present location and condition.

Inventory is calculated on a FIFO basis.

Inventories 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.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories 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.

1.10
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.

1.11
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 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.

ADAM PURVES GALASHIELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 16 -
Basic financial assets

Basic financial assets, which include trade and other receivables 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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 liabilities

Basic financial liabilities, including trade and other payables, 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 paymen ts 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 payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

ADAM PURVES GALASHIELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 17 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.13
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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 liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

ADAM PURVES GALASHIELS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 18 -
1.14
Employee 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 non-current 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.

1.15
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.16
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

As lessor

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
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.

ADAM PURVES GALASHIELS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
- 19 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
31
1,256,484
136,607
Interest paid
(3,865)
(22,238)
Income taxes paid
(162,855)
(60,342)
Net cash inflow from operating activities
1,089,764
54,027
Investing activities
Proceeds from disposal of intangibles
78,300
-
0
Purchase of property, plant and equipment
-
0
(33,197)
Proceeds from disposal of property, plant and equipment
1,784,595
(1,701)
Proceeds from disposal of investments
15
4,893
Repayment of loans
75,485
19,636
Interest received
3,161
43,046
Net cash generated from investing activities
1,941,556
32,677
Financing activities
Repayment of borrowings
-
0
(25,000)
Repayment of bank loans
(238,403)
(57,074)
Dividends paid
(3,315,490)
(57,000)
Net cash used in financing activities
(3,553,893)
(139,074)
Net decrease in cash and cash equivalents
(522,573)
(52,370)
Cash and cash equivalents at beginning of year
629,980
682,350
Cash and cash equivalents at end of year
107,407
629,980

The notes on pages 13 to 31 form part of these financial statements.

ADAM PURVES GALASHIELS LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 20 -
3
Revenue

An analysis of the company's revenue is as follows:

2025
2024
£
£
Revenue analysed by class of business
Fuel sales
-
6,801,474
Shop sales
-
2,788,580
Vehicle sales, servicing and repairs
5,083,225
5,696,629
Car wash sales
-
85,258
5,083,225
15,371,941
2025
2024
£
£
Other revenue
Interest income
3,161
43,046
Rental income arising from investment properties
-
0
80,812
Management fees receivable
-
18,000
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Administration
-
3
Forecourts
-
31
Vehicle servicing and repairs
7
6
Vehicle sales
5
5
Management
-
4
Total
12
49

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
371,259
1,045,147
Social security costs
40,009
74,645
Pension costs
7,814
131,689
419,082
1,251,481
ADAM PURVES GALASHIELS LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 21 -
5
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
-
0
112,945
Company pension contributions to defined contribution schemes
-
78,348
-
0
191,293

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 0 (2024 - 3).

6
Investment income
2025
2024
£
£
Interest income
Interest on bank deposits
3,135
11,148
Other interest income
26
31,898
Total income
3,161
43,046
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
3,135
11,148
7
Finance costs
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
-
487
Other interest on financial liabilities
2,191
20,084
2,191
20,571
Other finance costs:
Other interest
1,674
1,667
3,865
22,238
ADAM PURVES GALASHIELS LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 22 -
8
Operating (loss)/profit
2025
2024
Operating (loss)/profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
7,000
9,000
Depreciation of owned property, plant and equipment
16,095
57,952
(Profit)/loss on disposal of property, plant and equipment
-
2,214
Amortisation of intangible assets
-
4,800
Operating lease charges
-
26,463
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
-
0
80,484
Adjustments in respect of prior periods
(32,530)
(21)
Total current tax
(32,530)
80,463
Deferred tax
Origination and reversal of timing differences
(14,444)
1,551
Total tax (credit)/charge
(46,974)
82,014

The actual (credit)/charge for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
(Loss)/profit before taxation
(44,108)
295,052
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
(11,027)
73,763
Tax effect of expenses that are not deductible in determining taxable profit
-
0
3,575
Adjustments in respect of prior years
-
0
(21)
Permanent capital allowances in excess of depreciation
-
0
(7,336)
Depreciation on assets not qualifying for tax allowances
4,024
14,488
Amortisation on assets not qualifying for tax allowances
-
0
1,200
Loss/(Gain) on sale of assets
-
0
553
S.455 tax
(25,527)
(5,759)
Deferred tax movement
(14,444)
1,551
Taxation (credit)/charge for the year
(46,974)
82,014
ADAM PURVES GALASHIELS LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 23 -
10
Dividends
2025
2024
£
£
Final paid
3,315,490
-
0
Interim paid
-
0
57,000
3,315,490
57,000
11
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024
95,500
Transfers
(95,500)
At 31 March 2025
-
0
Amortisation and impairment
At 1 April 2024
17,200
Transfers
(17,200)
At 31 March 2025
-
0
Carrying amount
At 31 March 2025
-
0
At 31 March 2024
78,300
12
Investment property
2025
£
Fair value
At 1 April 2024
850,000
Transfers
(600,000)
At 31 March 2025
250,000

Investment property comprises of rental units at Tweedbank in Galashiels. The rental units at Wilderhaugh in Galashiels were transferred out on the demerger of the business on 1 April 2024. The fair value of the investment properties has been arrived at on the basis of a valuation carried out by DM Hall Chartered Surveyors during the year ended 31 March 2022 who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties available to rent within the area. The directors opinion is that there has not been a material change in the market values during the year.

ADAM PURVES GALASHIELS LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 24 -
13
Fixed asset investments
2025
2024
£
£
Unlisted investments
55,846
55,861

Movements in non-current investments
Investments
£
Cost or valuation
At 1 April 2024
55,861
Disposals
(15)
At 31 March 2025
55,846
Carrying amount
At 31 March 2025
55,846
At 31 March 2024
55,861
14
Property, plant and equipment
Land and buildings Freehold
Plant and machinery
Total
£
£
£
Cost or valuation
At 1 April 2024
1,623,456
604,665
2,228,121
Transfers
(1,193,456)
(422,046)
(1,615,502)
At 31 March 2025
430,000
182,619
612,619
Depreciation and impairment
At 1 April 2024
78,491
530,011
608,502
Depreciation charged in the year
8,600
7,495
16,095
Transfers
(59,141)
(371,766)
(430,907)
At 31 March 2025
27,950
165,740
193,690
Carrying amount
At 31 March 2025
402,050
16,879
418,929
At 31 March 2024
1,544,965
74,654
1,619,619

Freehold land and buildings with a carrying amount of £402,050 (2024 - £1,5 44,965) have been pledged to secure borrowings of the company. The company is not allowed to pledge these assets as security for other borrowings or to sell them to another entity.

ADAM PURVES GALASHIELS LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
14
Property, plant and equipment
(Continued)
- 25 -

T he freehold buildings were valued in the year ended 31 March 2022 on an open market basis by DM Hall a firm of independent Chartered Surveyors.

If these properties were sold for their revalued amounts it would be necessary to replace them with similar property, and rollover relief against tax on the gain would be available. Accordingly, no timing differences arise and no provision has been made for deferred tax in respect of the revaluation.

2025
2024
£
£
Cost
566,570
918,715
Accumulated depreciation
(207,029)
(297,108)
Carrying value
359,541
621,607
15
Inventories
2025
2024
£
£
Finished goods and goods for resale
709,373
1,058,984
16
Current liabilities
2025
2024
Notes
£
£
Bank loans
19
23,468
238,617
Trade payables
41,419
275,396
Corporation tax
-
0
86,243
Other taxation and social security
78,216
132,587
Other payables
97,135
131,161
Accruals and deferred income
33,677
104,948
273,915
968,952

The bank loans and overdraft are secured by standard securities and a bond and floating charge over the assets of the company.

The amounts secured relating to the current portion of the loans is £12,500 (202 4 - £227,649).

Other payables includes a stocking loan from Isuzu Finance of £0 (202 4 - £79,255).

Also included in other payables is a loan due to Adam Purves Retail Limited of £29,643 following the demerger. The loan is interest free and payable on demand.

ADAM PURVES GALASHIELS LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 26 -
17
Non-current liabilities
2025
2024
Notes
£
£
Bank loans and overdrafts
19
6,146
29,400

The bank loans are secured by standard securities and a bond and floating charge over the assets of the company.

The amounts secured relating to the bank loans payable after 12 months is £3,047 (202 4 - £15,645).

ADAM PURVES GALASHIELS LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 27 -
18
Trade and other receivables
2025
2024
Amounts falling due within one year:
£
£
Trade receivables
124,860
185,362
Corporation tax recoverable
30,915
5,759
Other receivables
53,006
237,783
Prepayments and accrued income
6,259
10,111
215,040
439,015
2025
2024
Amounts falling due after more than one year:
£
£
Other receivables
-
0
1,154,181
Total debtors
215,040
1,593,196

The other receivables of £nil (2024: £1,154,181) is due from a company, Adam Purves Estates Limited, of which Andrew A Purves, Flora S M Purves, Angus A Towers a nd Lilly M Purves are directors. This balance was transferred on the demerger of the business on 1 April 2024.

19
Borrowings
2025
2024
£
£
Bank loans
29,614
268,017
Payable within one year
23,468
238,617
Payable after one year
6,146
29,400

The long-term bank loans are secured by standard securities and a bond and floating charge over the assets of the company which total £15,547 (202 4 - £2 43,294).

ADAM PURVES GALASHIELS LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 28 -
20
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated Capital Allowances
4,220
18,664
Investment property
14,137
98,123
18,357
116,787
2025
Movements in the year:
£
Liability at 1 April 2024
116,787
Credit to profit or loss
(14,444)
Transfer on disposal
(83,986)
Liability at 31 March 2025
18,357

Part of the deferred tax liability set out above is expected to reverse over the next few years and relates to accelerated capital allowances that are expected to mature within the same period. The remainder relates to investment properties measured at fair value.

Deferred tax has been re-measured and recognised at 25% to align with the expected corporation tax rate.

21
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
7,814
131,689

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

22
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
408,140
408,140
408,140
408,140
A Ordinary shares of £1 each
1
1
1
1
B Ordinary shares of £1 each
1
1
1
1
C Ordinary shares of £1 each
1
1
1
1
408,143
408,143
408,143
408,143
ADAM PURVES GALASHIELS LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 29 -
23
Share premium account
2025
2024
£
£
At the beginning and end of the year
127,451
127,451
24
Revaluation reserve
2025
2024
£
£
At the beginning of the year
1,020,503
1,020,503
Other movements
(725,620)
-
At the end of the year
294,883
1,020,503
25
Capital redemption reserve
2025
2024
£
£
At the beginning and end of the year
91,860
91,860
26
Retained earnings
2025
2024
£
£
At the beginning of the year
3,122,844
2,966,806
Adjusted balance
3,122,844
2,966,806
Profit for the year
2,866
213,038
Dividends declared and paid in the year
(3,315,490)
(57,000)
Other
725,620
-
At the end of the year
535,840
3,122,844

Included in retained earnings are amounts relating to non-distributable reserves amounting to £69,574 (202 4 - £325,125) for the change in fair value of the investment properties over the years from the re-classification in 2017.

27
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with these related parties:

ADAM PURVES GALASHIELS LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
27
Related party transactions
(Continued)
- 30 -

The company were charged management fees from Adam Purves Retail Limited amounting to £72,000. Andrew A Purves, Flora S M Purves, Angus A Towers and Lilly M Purves are directors of these companies.

Andy Purves Limited provided professional services to the company amounting to £5,000. Andrew A Purves is a director of this company.

The company advanced a loan for £20,000 to a local business in which Andrew A Purves was a director at the time. The balance at the year end was £10,000. This loan is interest free, unsecured and has no set repayment dates.

28
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Loans
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Loan
-
75,485
(75,485)
-
75,485
(75,485)
-

The directors loan was transferred to Adam Purves Retail Limited on 1 April 2024 as part of the demerger process.

29
Ultimate controlling party

The company is a subsidiary undertaking and is wholly owned by APGL Holdings Limited.

The ultimate controlling party is the director Andrew A Purves who is the controlling shareholder of APGL Holdings 2023 Limited, the ultimate parent company of Adam Purves Galashiels Limited following the demerger.

30
Operating lease commitments
As lessor - operating leases

At the reporting end date the company had contracted with tenant s for the following minimum lease payments:

2025
2024
Future amounts receivable under operating leases:
£
£
Within 1 year
22,125
22,125
Years 2-5
88,500
88,500
After 5 years
20,281
42,406
130,906
153,031
ADAM PURVES GALASHIELS LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 31 -
31
Cash generated from operations
2025
2024
£
£
Profit after taxation
2,866
213,038
Adjustments for:
Taxation (credited)/charged
(46,974)
82,014
Finance costs
3,865
22,238
Investment income
(3,161)
(43,046)
(Gain)/loss on disposal of property, plant and equipment
-
2,214
Amortisation and impairment of intangible assets
-
0
4,800
Depreciation and impairment of property, plant and equipment
16,095
57,952
Decrease in provisions
-
0
(134,558)
Movements in working capital:
Decrease/(increase) in inventories
349,611
(105,682)
Decrease/(increase) in trade and other receivables
1,327,827
(98,064)
(Decrease)/increase in trade and other payables
(393,645)
135,701
Cash generated from operations
1,256,484
136,607
32
Analysis of changes in net funds
1 April 2024
Cash flows
31 March 2025
£
£
£
Cash at bank and in hand
629,980
(522,573)
107,407
Borrowings excluding overdrafts
(268,017)
238,403
(29,614)
361,963
(284,170)
77,793
2025-03-31 2024-04-01 false false false CCH Software CCH Accounts Production 2025.300 Lily M Purves Andrew A Purves Flora S M Purves Angus A Towers Angus A Towers 2025-11-21 SC194613 2024-04-01 2025-03-31 SC194613 bus:Director1 2024-04-01 2025-03-31 SC194613 bus:Director2 2024-04-01 2025-03-31 SC194613 bus:Director3 2024-04-01 2025-03-31 SC194613 bus:CompanySecretaryDirector1 2024-04-01 2025-03-31 SC194613 bus:CompanySecretary1 2024-04-01 2025-03-31 SC194613 bus:Director4 2024-04-01 2025-03-31 SC194613 bus:RegisteredOffice 2024-04-01 2025-03-31 SC194613 2025-03-31 SC194613 2023-04-01 2024-03-31 SC194613 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 SC194613 core:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 SC194613 core:Goodwill 2025-03-31 SC194613 core:Goodwill 2024-03-31 SC194613 2024-03-31 SC194613 core:LandBuildings core:OwnedOrFreeholdAssets 2025-03-31 SC194613 core:PlantMachinery 2025-03-31 SC194613 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 SC194613 core:PlantMachinery 2024-03-31 SC194613 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 SC194613 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 SC194613 core:CurrentFinancialInstruments 2024-03-31 SC194613 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 SC194613 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 SC194613 core:WithinOneYear 2025-03-31 SC194613 core:WithinOneYear 2024-03-31 SC194613 core:AfterOneYear 2025-03-31 SC194613 core:AfterOneYear 2024-03-31 SC194613 core:CurrentFinancialInstruments 2025-03-31 SC194613 core:ShareCapital 2025-03-31 SC194613 core:ShareCapital 2024-03-31 SC194613 core:SharePremium 2025-03-31 SC194613 core:SharePremium 2024-03-31 SC194613 core:RevaluationReserve 2025-03-31 SC194613 core:RevaluationReserve 2024-03-31 SC194613 core:CapitalRedemptionReserve 2025-03-31 SC194613 core:CapitalRedemptionReserve 2024-03-31 SC194613 core:RetainedEarningsAccumulatedLosses 2025-03-31 SC194613 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC194613 core:ShareCapital 2023-03-31 SC194613 core:SharePremium 2023-03-31 SC194613 core:RevaluationReserve 2023-03-31 SC194613 core:CapitalRedemptionReserve 2023-03-31 SC194613 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC194613 core:ShareCapitalOrdinaryShareClass1 2025-03-31 SC194613 core:ShareCapitalOrdinaryShareClass1 2024-03-31 SC194613 core:ShareCapitalOrdinaryShareClass2 2025-03-31 SC194613 core:ShareCapitalOrdinaryShareClass2 2024-03-31 SC194613 core:ShareCapitalOrdinaryShareClass3 2025-03-31 SC194613 core:ShareCapitalOrdinaryShareClass3 2024-03-31 SC194613 core:ShareCapitalOrdinaryShareClass4 2025-03-31 SC194613 core:ShareCapitalOrdinaryShareClass4 2024-03-31 SC194613 core:ShareCapitalOrdinaryShares 2025-03-31 SC194613 core:ShareCapitalOrdinaryShares 2024-03-31 SC194613 core:RevaluationReserve 2024-03-31 SC194613 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC194613 core:Goodwill 2024-04-01 2025-03-31 SC194613 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 SC194613 core:PlantMachinery 2024-04-01 2025-03-31 SC194613 1 2024-04-01 2025-03-31 SC194613 1 2023-04-01 2024-03-31 SC194613 2024-03-31 SC194613 2023-03-31 SC194613 core:UKTax 2024-04-01 2025-03-31 SC194613 core:UKTax 2023-04-01 2024-03-31 SC194613 2 2024-04-01 2025-03-31 SC194613 2 2023-04-01 2024-03-31 SC194613 3 2024-04-01 2025-03-31 SC194613 3 2023-04-01 2024-03-31 SC194613 4 2024-04-01 2025-03-31 SC194613 4 2023-04-01 2024-03-31 SC194613 5 2024-04-01 2025-03-31 SC194613 5 2023-04-01 2024-03-31 SC194613 core:Goodwill 2024-03-31 SC194613 core:Non-currentFinancialInstruments core:UnlistedNon-exchangeTraded 2025-03-31 SC194613 core:Non-currentFinancialInstruments core:UnlistedNon-exchangeTraded 2024-03-31 SC194613 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 SC194613 core:PlantMachinery 2024-03-31 SC194613 core:Non-currentFinancialInstruments 2025-03-31 SC194613 core:Non-currentFinancialInstruments 2024-03-31 SC194613 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 SC194613 bus:OrdinaryShareClass2 2024-04-01 2025-03-31 SC194613 bus:OrdinaryShareClass3 2024-04-01 2025-03-31 SC194613 bus:OrdinaryShareClass4 2024-04-01 2025-03-31 SC194613 bus:OrdinaryShareClass1 2025-03-31 SC194613 bus:OrdinaryShareClass1 2024-03-31 SC194613 bus:OrdinaryShareClass2 2025-03-31 SC194613 bus:OrdinaryShareClass2 2024-03-31 SC194613 bus:OrdinaryShareClass3 2025-03-31 SC194613 bus:OrdinaryShareClass3 2024-03-31 SC194613 bus:OrdinaryShareClass4 2025-03-31 SC194613 bus:OrdinaryShareClass4 2024-03-31 SC194613 bus:AllOrdinaryShares 2025-03-31 SC194613 bus:AllOrdinaryShares 2024-03-31 SC194613 core:BetweenTwoFiveYears 2025-03-31 SC194613 core:BetweenTwoFiveYears 2024-03-31 SC194613 core:MoreThanFiveYears 2025-03-31 SC194613 core:MoreThanFiveYears 2024-03-31 SC194613 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC194613 bus:FRS102 2024-04-01 2025-03-31 SC194613 bus:Audited 2024-04-01 2025-03-31 SC194613 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP