REGISTERED NUMBER: SC392506 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

FOR

BRUCE SMITH LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

6

DIRECTORS:

B Smith

Mrs H M Smith

REGISTERED OFFICE:

3 Duke Street

Fetterangus

Mintlaw

Peterhead

Aberdeenshire

AB42 4EP

REGISTERED NUMBER:

SC392506 (Scotland)

ACCOUNTANTS:

Goldwells

Goldwells House

Grange Road

Peterhead

Aberdeenshire

AB42 1WN

FIXED ASSETS

Tangible assets

4

20,631

25,696

CURRENT ASSETS

Stocks

4,500

6,300

Debtors

5

10,310

11,066

Cash at bank and in hand

47,768

103,580

62,578

120,946

CREDITORS

Amounts falling due within one year

6

46,921

67,895

NET CURRENT ASSETS

15,657

53,051

TOTAL ASSETS LESS CURRENT LIABILITIES

36,288

78,747

CREDITORS

Amounts falling due after more than one year

7

-

(8,504

)

PROVISIONS FOR LIABILITIES

(2,745

)

(3,660

)

NET ASSETS

33,543

66,583

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

33,541

66,581

SHAREHOLDERS' FUNDS

33,543

66,583

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th December 2025 and were signed on its behalf by:

B Smith - Director

1.	STATUTORY INFORMATION

Bruce Smith Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the proceeds and the carrying value of the asset and is included in the profit and loss account.

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 Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1st April 2024

6,430

75,361

5,059

86,850

Disposals

-

(949

)

(315

)

(1,264

)

At 31st March 2025

6,430

74,412

4,744

85,586

DEPRECIATION

At 1st April 2024

-

57,033

4,121

61,154

Charge for year

-

4,582

234

4,816

Eliminated on disposal

-

(797

)

(218

)

(1,015

)

At 31st March 2025

-

60,818

4,137

64,955

NET BOOK VALUE

At 31st March 2025

6,430

13,594

607

20,631

At 31st March 2024

6,430

18,328

938

25,696

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

10,310

11,066

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

8,757

11,879

Trade creditors

12,948

12,902

Corporation tax

18,222

14,881

Social security and other taxes

-

958

VAT

4,078

4,339

Other creditors

1,107

1,107

Directors' current accounts

9

20,029

Accrued expenses

1,800

1,800

46,921

67,895

The Director's Loan balance is interest free and there is no fixed repayment term.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

-

8,504

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 Bruce Smith Ltd for the year ended 31st March 2025 which comprise the Statement of Income and Retained Earnings, 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 Bruce Smith Ltd, 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 Bruce Smith Ltd and state those matters that we have agreed to state to the Board of Directors of Bruce Smith Ltd, 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 Bruce Smith Ltd 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 Bruce Smith Ltd. You consider that Bruce Smith Ltd 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 Bruce Smith Ltd. 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.

Goldwells

Goldwells House

Grange Road

Peterhead

Aberdeenshire

AB42 1WN

15th December 2025