A. Ross Philip (Jewellers) Limited

	Page
Accountant's Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—6

Report to the director on the preparation of the unaudited statutory accounts of A. Ross Philip (Jewellers) Limited for the year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of A. Ross Philip (Jewellers) Limited for the year ended 31 March 2025 which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company's accounting records and from information and explanations you have given to us.

As a practising member of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/regulation-technical-resources/documents/framework-for-the-preparation-of-accounts-revised-june-2020.

This report is made solely to the director of A. Ross Philip (Jewellers) Limited , as a body, in accordance with the terms of our engagement letter dated 08 November 2023. Our work has been undertaken solely to prepare for your approval the accounts of A. Ross Philip (Jewellers) Limited and state those matters that we have agreed to state to the director of A. Ross Philip (Jewellers) Limited , as a body, in this report in accordance with the requirements of the ICAS as detailed at https://www.icas.com/regulation-technical-resources/documents/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A. Ross Philip (Jewellers) Limited and its director, as a body, for our work or for this report.

It is your duty to ensure that A. Ross Philip (Jewellers) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of A. Ross Philip (Jewellers) Limited . You consider that A. Ross Philip (Jewellers) 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 accounts of A. Ross Philip (Jewellers) 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 accounts.

Signed

8 December 2025

Glen Drummond Ltd

Chartered Accountants

Argyll House

Quarrywood Court

Livingston

EH54 6AX

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A. Ross Philip (Jewellers) Limited

Balance Sheet

As At 31 March 2025

Balance Sheet

Registered number: SC070005

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		15,089		16,258

			15,089		16,258
CURRENT ASSETS
Stocks	5	88,856		94,471
Debtors	6	1,711		1,177
Cash at bank and in hand		3,882		4,098

		94,449		99,746
Creditors: Amounts Falling Due Within One Year	7	(69,698 )		(79,226 )

NET CURRENT ASSETS (LIABILITIES)			24,751		20,520

TOTAL ASSETS LESS CURRENT LIABILITIES			39,840		36,778

Creditors: Amounts Falling Due After More Than One Year	8		(221 )		(2,267 )

NET ASSETS			39,619		34,511

CAPITAL AND RESERVES
Called up share capital	11		25,000		25,000
Profit and Loss Account			14,619		9,511

SHAREHOLDERS' FUNDS			39,619		34,511

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A. Ross Philip (Jewellers) Limited

Balance Sheet (continued)

As At 31 March 2025

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

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mrs L Rennie

Director

8 December 2025

The notes on pages 4 to 6 form part of these financial statements.

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A. Ross Philip (Jewellers) Limited

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

A. Ross Philip (Jewellers) Limited is a private company, limited by shares, incorporated in Scotland, registered number SC070005 . The registered office is Argyll House, Quarrywood Court, Livingston, EH54 6AX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold

2% on cost

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Financial Instruments

Basic financial instruments are initially recognised at transaction price, including transaction costs, and subsequently measured at amortised cost using the effective interest method, where applicable. These can include trade and other debtors, cash and bank balances, trade and other creditors, and intercompany balances. Financial assets are assessed at the end of each reporting period for evidence of impairment and adjusted if necessary. The company does not hold or issue any complex financial instruments such as derivatives.

2.6. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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A. Ross Philip (Jewellers) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 3)

4. Tangible Assets

	Land & Property
	Freehold
	£
Cost
As at 1 April 2024	66,800

As at 31 March 2025	66,800

Depreciation
As at 1 April 2024	50,542
Provided during the period	1,169

As at 31 March 2025	51,711

Net Book Value
As at 31 March 2025	15,089

As at 1 April 2024	16,258

5. Stocks

	2025	2024
	£	£
Stock	88,856	94,471

6. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	1,711	1,177

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	29,868	27,898
Bank loans and overdrafts	15,280	19,576
Other creditors	13,867	20,224
Taxation and social security	10,683	11,528

	69,698	79,226

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A. Ross Philip (Jewellers) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	221	2,267

9. Secured Creditors

Of the creditors the following amounts are secured.

One of the bank loans is supported by a 100% guarantee from the UK Government.

	2025		2024
	£		£
Bank loans and overdrafts	2,378		8,321

10. Loans

An analysis of the maturity of loans is given below:

	2025	2024
	£	£
Amounts falling due within one year or on demand:
Bank loans	2,157	6,053

	2025	2024
	£	£
Amounts falling due between one and five years:
Bank loans	221	2,267

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	25,000	25,000

12. Related Party Disclosures

The company operates a loan account with the director, Mrs L Rennie.

During the year, the company repaid loans totalling £6,432 to the director. At the year end, the balance due to the director was £10,041 (2024: £16,473). This loan is unsecured, interest free and has no fixed repayment terms.

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