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Registration number: SC266708

Steve Walker Bodyshop Ltd.
Unaudited Filleted Financial Statements
for the Year Ended 31 May 2025

Steve Walker Bodyshop Ltd.

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 10
Accountants' Report | 11

Steve Walker Bodyshop Ltd.

Company Information

Directors | Mrs Jean Murray Walker Mr George Steven Walker

Company secretary | Mrs Jean Murray Walker

Registered office | 13 Inchmuir Road Whitehill Industrial Estate Bathgate EH48 2EP

Accountants | EQ Accountants Ltd Unit 4B Gateway Business Park Beancross Road Grangemouth FK3 8WX

Steve Walker Bodyshop Ltd.

(Registration number: SC266708)
Balance Sheet as at 31 May 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 89,351 | 28,701
Current assets |  |  |
Stocks | 6 | 22,590 | 23,213
Debtors | 7 | 23,345 | 42,965
Cash at bank and in hand |  | 192,682 | 188,572
|  | 238,617 | 254,750
Creditors: Amounts falling due within one year | 8 | (184,552) | (235,873)
Net current assets |  | 54,065 | 18,877
Total assets less current liabilities |  | 143,416 | 47,578
Creditors: Amounts falling due after more than one year | 8 | (859) | (24,196)
Provisions for liabilities |  | (3,820) | (6,314)
Net assets |  | 138,737 | 17,068
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Revaluation reserve |  | 71,989 | -
Retained earnings |  | 66,648 | 16,968
Shareholders' funds |  | 138,737 | 17,068

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

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 October 2025 and signed on its behalf by:

......................................... Mr George Steven Walker Director

Steve Walker Bodyshop Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

1 | General information

The company is a private company limited by share capital, incorporated in Scotland .

2 | Accounting policies

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 except that as disclosed in the accounting policies certain items are shown at fair value.

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 sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Steve Walker Bodyshop Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 33% on cost and 25% on reducing balance
Fixtures and fittings | 25% on reducing balance
Motor vehicles | 25% on reducing balance
Office equipment | 33% on cost

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Steve Walker Bodyshop Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3 | Employees and Directors

The average number of persons employed by the company (including directors) during the year, was 7 (2024 - 7).

Steve Walker Bodyshop Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 June 2024 | 60,000 | 60,000
At 31 May 2025 | 60,000 | 60,000
Amortisation
At 1 June 2024 | 60,000 | 60,000
At 31 May 2025 | 60,000 | 60,000
Carrying amount
At 31 May 2025 | - | -

5 | Tangible assets

| Fixtures and fittings £ | Plant and machinery £ | Office equipment £ | Motor vehicles £
Cost or valuation
At 1 June 2024 | 9,908 | 160,162 | 11,859 | 66,663
Revaluations | 14 | 31,796 | 233 | 39,945
Disposals | - | (2,800) | (4,916) | -
At 31 May 2025 | 9,922 | 189,158 | 7,176 | 106,608
Depreciation
At 1 June 2024 | 12,004 | 150,765 | 6,565 | 50,557
Charge for the year | 14 | 4,298 | 234 | 4,027
Eliminated on disposal | (2,151) | (2,800) | - | -
At 31 May 2025 | 9,867 | 152,263 | 6,799 | 54,584
Carrying amount
At 31 May 2025 | 55 | 36,895 | 377 | 52,024
At 31 May 2024 | (2,096) | 9,397 | 5,294 | 16,106

Steve Walker Bodyshop Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

| Total £
Cost or valuation
At 1 June 2024 | 248,592
Revaluations | 71,988
Disposals | (7,716)
At 31 May 2025 | 312,864
Depreciation
At 1 June 2024 | 219,891
Charge for the year | 8,573
Eliminated on disposal | (4,951)
At 31 May 2025 | 223,513
Carrying amount
At 31 May 2025 | 89,351
At 31 May 2024 | 28,701

Steve Walker Bodyshop Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

6 | Stocks

| 2025 £ | 2024 £
Other inventories | 22,590 | 23,213

7 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 23,345 | 42,965
| 23,345 | 42,965

Steve Walker Bodyshop Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 23,728 | 8,544
Trade creditors |  | 30,508 | 43,851
Taxation and social security |  | 34,118 | 41,661
Other creditors |  | 96,198 | 141,817
|  | 184,552 | 235,873

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 859 | 24,196

9 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 859 | 5,859
Hire purchase contracts | - | 18,337
| 859 | 24,196

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 5,391 | 5,391
Hire purchase contracts | 18,337 | 3,153
| 23,728 | 8,544

10 | Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

Steve Walker Bodyshop Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

| 2025 £ | 2024 £
Mr G S Walker | 44,732 | 63,678
Mrs J Walker | 44,728 | 63,677
| 89,460 | 127,355

The maximum balance outstanding during the year amounted to £127,355.
The directors current accounts are repayable on demand.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Steve Walker Bodyshop Ltd.
for the Year Ended 31 May 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Steve Walker Bodyshop Ltd. for the year ended 31 May 2025 as set out on pages 2 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Steve Walker Bodyshop Ltd., as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Steve Walker Bodyshop Ltd. and state those matters that we have agreed to state to the Board of Directors of Steve Walker Bodyshop Ltd., as a body, in this report in accordance with the requirements of ICAS 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 Steve Walker Bodyshop Ltd. and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Steve Walker Bodyshop Ltd. 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 of Steve Walker Bodyshop Ltd.. You consider that Steve Walker Bodyshop 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 accounts of Steve Walker Bodyshop 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 accounts.

......................................
EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

7 October 2025