Registration number: SC460582

Robertson Fine Art Limited

Contents

Company Information	1
Statement of Director's Responsibilities	2
Accountants' Report	3
Balance Sheet	4
Notes to the Financial Statements	5 to 10

Robertson Fine Art Limited

Company Information

Director

Mr G Robertson

Company secretary

Mr G Robertson

Registered office Registration number

31 Townsend Place Kirkcaldy Fife KY1 1HB SC460582 (Scotland)

Accountants

Brown, Scott & Main Chartered Accountants31 Townsend Place Kirkcaldy Fife KY1 1HB

Robertson Fine Art Limited

Statement of Director's Responsibilities

The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is required to:

•	select suitable accounting policies and 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Robertson Fine Art Limited
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Robertson Fine Art Limited for the year ended 31 March 2025 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of The Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance.

This report is made solely to you, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial information of Robertson Fine Art Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of The Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company for our work or for this report.

It is your duty to ensure that Robertson Fine Art 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 loss of Robertson Fine Art Limited. You consider that Robertson Fine Art 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 Robertson Fine Art 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.

......................................

Brown, Scott & Main
Chartered Accountants
31 Townsend Place
Kirkcaldy
Fife
KY1 1HB

22 December 2025

Robertson Fine Art Limited

(Registration number: SC460582)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	6	-	4,500
Tangible assets	7	33,822	50,100
		33,822	54,600
Current assets
Stock		211,400	173,254
Debtors	8	119,230	207,001
		330,630	380,255
Creditors: Amounts falling due within one year	9	(198,355)	(149,659)
Net current assets		132,275	230,596
Total assets less current liabilities		166,097	285,196
Creditors: Amounts falling due after more than one year	9	(59,398)	(93,953)
Provisions for liabilities	11	-	(4,986)
Net assets		106,699	186,257
Capital and reserves
Called up share capital	12	1,000	1,000
Share premium reserve		78,044	78,044
Retained earnings		27,655	107,213
Shareholders' funds		106,699	186,257

For the financial 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.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 December 2025
 

......................................... Mr G Robertson Company secretary and director

Robertson Fine Art Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1	General information

Robertson Fine Art Limited is a private company limited by share capital, incorporated in Scotland. The company's registration number and registered office address can be found on the Company Information page.

The principal place of business is:
H3 Eastfield Business Park
Newark Road South
Glenrothes
Fife
KY7 4NS

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The presentation currency is sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns and discounts.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Tangible assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and accumulated impairment losses.

Depreciation

Depreciation is provided at rates calculated so as to write off the cost less residual value of each asset over its expected useful life as follows:

Asset class	Depreciation method and rate
Short leaseholds	15 years
Fixtures and fittings	20% per annum on the straight line basis
Equipment	25% per annum on the straight line basis
Motor vehicles	25% per annum on the straight line basis

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Robertson Fine Art Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Tax

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Current or deferred taxation assets and liabilities are not discounted.

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.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Stock

Stock is stated at the lower of cost and net realisable value and comprises artwork, candles, ornaments and cards.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective rate of interest.

Leases

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period on a straight line babsis. The capital element of the future payments is treated as a liability.

Property rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Defined contribution pension obligation

The company operates a defined contribution pension scheme, whose assets are held separately from those of the company. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2024 - 4).

4	Other operating income

	2025		2024
	£		£
Rent receivable	28,550		27,970

5

Taxation

Robertson Fine Art Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

The tax (credit) / charge comprises:
	2025		2024
	£		£
Corporation tax refund	(2,017)		-
Decrease in provision for deferred tax	(4,986)		595
	(7,003)		595

6	Intangible assets

	Goodwill  £	Total £
Cost
At 1 April 2024	45,000	45,000
At 31 March 2025	45,000	45,000
Amortisation
At 1 April 2024	40,500	40,500
Amortisation charge	4,500	4,500
At 31 March 2025	45,000	45,000
Carrying amount
At 31 March 2025	-	-
At 31 March 2024	4,500	4,500

Robertson Fine Art Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

7	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost
At 1 April 2024	6,743	50,124	80,794	137,661
Additions	-	748	-	748
At 31 March 2025	6,743	50,872	80,794	138,409
Depreciation
At 1 April 2024	3,600	37,877	46,084	87,561
Charge for the year	450	4,326	12,250	17,026
At 31 March 2025	4,050	42,203	58,334	104,587
Carrying amount
At 31 March 2025	2,693	8,669	22,460	33,822
At 31 March 2024	3,143	12,247	34,710	50,100

Included within the net book value of land and buildings above is £2,693 (2024 - £3,143) in respect of short leasehold land and buildings.
 

8

Debtors

Current	2025 £	2024 £
Trade debtors	74,129	47,367
Prepayments	20,604	20,860
Other debtors	24,497	138,774
	119,230	207,001

Other debtors include balances amounting to £4,813 (2024 £126,748) due from related companies, and a balance of £16,488 (2024 £8,830) due from the director. Details of transactions with the director are provided at note 14 .

Robertson Fine Art Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

9

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	48,205	46,246
Trade creditors		100,235	75,750
Taxation and social security		4,700	13,014
Accruals and deferred income		11,613	6,613
Other creditors		33,602	8,036
		198,355	149,659

Other creditors include loan balances of £25,534 (2024 £nil) due to related parties. The loans are interest free and repayable on demand.

Creditors include bank overdrafts which are secured of £19,608 (2024 £15,057). The company has granted a floating charge over all its property or undertaking in favour of its bank

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	10	59,398	93,953

10	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	4,146	4,146
Bank overdrafts	19,608	15,057
Hire purchase contracts	6,410	6,410
Other borrowings	18,041	20,633
	48,205	46,246

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	17,280	21,424
Hire purchase contracts	16,118	22,529
Other borrowings	26,000	50,000
	59,398	93,953

In 2020 the company borrowed £50,000 through the government's bounce back loan scheme, made available to businesses in response to the coronavirus pandemic. The loan is interest free for the first 12 months (the first 12 months interest is payable by the UK Government) and no repayments were due within this period. Interest is then charged at 2.5% per annum and the loan is repayable over the following 5 years by monthly instalment.

Robertson Fine Art Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

11	Provisions for liabilities

	2025		2024
	£		£
Deferred tax: accelerated capital allowances	-		4,986

			Deferred tax
			£
Balance at 1 April 2024			4,986
Charge / (credit) to P&L during the year			(4,986)
Balance at 31 March 2025			-

12	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	1,000	1,000	1,000	1,000

13	Operating lease agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
	2025		2024
	£		£
Within one year	113,808		56,468
Between two and five years	192,340		180,000
	306,148		236,468

14	Related party transactions

Transactions with the director

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
Mr G Robertson
Balance due from director	8,830	8,034	(376)	16,488