REGISTERED NUMBER: SC183744 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Castle Composites Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G Sneddon

D Sneddon

REGISTERED OFFICE:

Unit 1 Nisbet Way

Ravenstruther

Lanark

ML11 7SF

REGISTERED NUMBER:

SC183744 (Scotland)

ACCOUNTANTS:

Gordon Ferguson & Co Ltd

76 Hamilton Road

Motherwell

Lanarkshire

ML1 3BY

FIXED ASSETS

Tangible assets

4

1,556,031

1,139,879

CURRENT ASSETS

Stocks

803,883

765,746

Debtors

5

474,655

443,894

Cash at bank

711,015

729,157

1,989,553

1,938,797

CREDITORS

Amounts falling due within one year

6

813,912

809,592

NET CURRENT ASSETS

1,175,641

1,129,205

TOTAL ASSETS LESS CURRENT LIABILITIES

2,731,672

2,269,084

CREDITORS

Amounts falling due after more than one year

7

448,260

358,125

NET ASSETS

2,283,412

1,910,959

CAPITAL AND RESERVES

Called up share capital

22,100

22,100

Retained earnings

2,261,312

1,888,859

2,283,412

1,910,959

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2025 and were signed on its behalf by:

D Sneddon - Director

1.	STATUTORY INFORMATION

Castle Composites 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.

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.

Freehold property

-

2% on cost

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

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 20 (2024 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2024

823,661

578,263

286,000

Additions

-

256,445

-

At 31 March 2025

823,661

834,708

286,000

DEPRECIATION

At 1 April 2024

22,878

321,106

286,000

Charge for year

2,010

49,259

-

At 31 March 2025

24,888

370,365

286,000

NET BOOK VALUE

At 31 March 2025

798,773

464,343

-

At 31 March 2024

800,783

257,157

-

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

100,252

19,538

1,807,714

Additions

253,458

2,015

511,918

At 31 March 2025

353,710

21,553

2,319,632

DEPRECIATION

At 1 April 2024

22,093

15,758

667,835

Charge for year

43,879

618

95,766

At 31 March 2025

65,972

16,376

763,601

NET BOOK VALUE

At 31 March 2025

287,738

5,177

1,556,031

At 31 March 2024

78,159

3,780

1,139,879

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

430,898

414,838

Prepayments

43,757

29,056

474,655

443,894

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

10,122

10,000

Other loans

37,500

37,500

Hire purchase contracts

24,313

-

Trade creditors

390,069

240,700

Tax

42,269

158,073

Social security and other taxes

9,913

10,014

VAT

104,993

138,214

Accruals and deferred income

31,317

36,608

Accrued expenses

163,416

178,483

813,912

809,592

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 1-2 years

7,500

17,500

Other loans - 1-2 years

303,125

340,625

Hire purchase contracts

137,635

-

448,260

358,125