REGISTERED NUMBER: SC370866 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Gall Storage (Auchnagatt) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountant's Report

9

DIRECTORS:

G P Gall

Mrs H A Gall

M G Gall

REGISTERED OFFICE:

Mains of Auchnagatt

Auchnagatt

Ellon

Aberdeenshire

AB41 8TH

REGISTERED NUMBER:

SC370866 (Scotland)

ACCOUNTANT:

Gall Robertson CA

Tweedside Park

Tweedbank

Galashiels

Selkirkshire

TD1 3TE

FIXED ASSETS

Tangible assets

4

4,269,847

3,239,885

CURRENT ASSETS

Stocks

11,331

-

Debtors

5

697,876

582,172

Cash in hand

24

24

709,231

582,196

CREDITORS

Amounts falling due within one year

6

338,682

219,652

NET CURRENT ASSETS

370,549

362,544

TOTAL ASSETS LESS CURRENT LIABILITIES

4,640,396

3,602,429

CREDITORS

Amounts falling due after more than one year

7

(1,290,722

)

(583,757

)

PROVISIONS FOR LIABILITIES

(298,048

)

(241,860

)

NET ASSETS

3,051,626

2,776,812

CAPITAL AND RESERVES

Called up share capital

120

120

Retained earnings

3,051,506

2,776,692

SHAREHOLDERS' FUNDS

3,051,626

2,776,812

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 23 December 2025 and were signed on its behalf by:

G P Gall - Director

Mrs H A Gall - Director

1.	STATUTORY INFORMATION

Gall Storage (Auchnagatt) 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.

Going Concern

The directors have assessed a period of 12 months from the date of approval of the financial statements and consider that no material uncertainties exist that cast significant doubt about the ability of the company to continue as a going concern. Thus the directors adopt the going concern basis of accounting in preparing the financial statements.

Revenue

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Tractors

-

15% on reducing balance

Plant and machinery

-

15% on reducing balance

Combine

-

15% on reducing balance

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include debtors, 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.

Basic financial liabilities including trade creditors and loans 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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. The capital element of the future payments is treated as a liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

Tractors

machinery

Combine

Totals

£

£

£

£

£

COST

At 1 April 2024

2,287,852

920,019

677,991

317,000

4,202,862

Additions

984,890

-

217,719

-

1,202,609

Disposals

-

-

(5,063

)

-

(5,063

)

At 31 March 2025

3,272,742

920,019

890,647

317,000

5,400,408

DEPRECIATION

At 1 April 2024

18,756

355,055

393,671

195,495

962,977

Charge for year

10,769

84,745

57,725

18,226

171,465

Eliminated on disposal

-

-

(3,881

)

-

(3,881

)

At 31 March 2025

29,525

439,800

447,515

213,721

1,130,561

NET BOOK VALUE

At 31 March 2025

3,243,217

480,219

443,132

103,279

4,269,847

At 31 March 2024

2,269,096

564,964

284,320

121,505

3,239,885

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Tractors

machinery

Totals

£

£

£

COST

At 1 April 2024

248,000

32,485

280,485

Additions

-

74,500

74,500

Transfer to ownership

-

(32,485

)

(32,485

)

At 31 March 2025

248,000

74,500

322,500

DEPRECIATION

At 1 April 2024

13,668

15,208

28,876

Charge for year

35,150

9,307

44,457

Transfer to ownership

-

(15,208

)

(15,208

)

At 31 March 2025

48,818

9,307

58,125

NET BOOK VALUE

At 31 March 2025

199,182

65,193

264,375

At 31 March 2024

234,332

17,277

251,609

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

10,804

4,329

Other debtors

687,072

577,843

697,876

582,172

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

12,786

39,636

Hire purchase contracts

65,605

50,688

Trade creditors

130,185

6,457

Taxation and social security

93,500

86,299

Other creditors

36,606

36,572

338,682

219,652

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

1,225,255

492,495

Hire purchase contracts

65,467

91,262

1,290,722

583,757

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Hire purchase contracts

131,072

141,950

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end a partnership in which all of the directors are partners had a balance due to the company of £366,517.

10.	RELATED PARTY DISCLOSURES

During the year the company provided contracting services to a related party amounting to £575,791. During the year the company provided goods to a related party amounting to £6,000.

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, I have prepared for your approval the financial statements of Gall Storage (Auchnagatt) Ltd for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given me.

As a practising member of ICAS, I am subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of Gall Storage (Auchnagatt) Ltd, as a body, in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Gall Storage (Auchnagatt) Ltd and state those matters that I have agreed to state to the Board of Directors of Gall Storage (Auchnagatt) Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for my work or for this report.

It is your duty to ensure that Gall Storage (Auchnagatt) 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 Gall Storage (Auchnagatt) Ltd. You consider that Gall Storage (Auchnagatt) Ltd is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of Gall Storage (Auchnagatt) Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

Gall Robertson CA

Tweedside Park

Tweedbank

Galashiels

Selkirkshire

TD1 3TE

23 December 2025