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Registration number: SC286616

Strathearn Engineering Ltd.
Unaudited Filleted Financial Statements
for the Year Ended 30 June 2025

Strathearn Engineering Ltd.

Contents

Company Information | 1
Director's Report | 2
Profit and Loss Account | 3
Balance Sheet | 4 to 5
Statement of Changes in Equity | 6
Notes to the Unaudited Financial Statements | 7 to 12

Strathearn Engineering Ltd.

Company Information

Director | J K Leckie

Registered office | Drumlandy Aberuthven Perthshire PH3 1HE

Accountants | Kelly Accounting Limited certified 42 Comrie Street Crieff Perthshire PH7 4AX

Strathearn Engineering Ltd.

Director's Report for the Year Ended 30 June 2025

The director presents his report and the financial statements for the year ended 30 June 2025.

Director of the company

The director who held office during the year was as follows:

J K Leckie

Principal activity

The principal activity of the company is vehicle engineering services.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 4 March 2026

......................................... J K Leckie Director

Strathearn Engineering Ltd.

Profit and Loss Account for the Year Ended 30 June 2025

| Note | 2025 £ | 2024 £
Turnover |  | 2,364,887 | 2,071,409
Cost of sales |  | (1,127,241) | (1,006,481)
Gross profit |  | 1,237,646 | 1,064,928
Administrative expenses |  | (1,107,539) | (1,015,289)
Operating profit |  | 130,107 | 49,639
Other interest receivable and similar income |  | 922 | 526
Interest payable and similar expenses |  | (19,005) | (7,698)
|  | (18,083) | (7,172)
Profit before tax |  | 112,024 | 42,467
Taxation |  | (33,840) | (7,584)
Profit for the financial year |  | 78,184 | 34,883

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

Strathearn Engineering Ltd.

(Registration number: SC286616)
Balance Sheet as at 30 June 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 561,337 | 586,217
Current assets |  |  |
Stocks |  | 280,612 | 304,447
Debtors | 5 | 187,084 | 227,053
Cash at bank and in hand |  | 86,062 | 54,825
|  | 553,758 | 586,325
Creditors: Amounts falling due within one year | 6 | (300,989) | (307,940)
Net current assets |  | 252,769 | 278,385
Total assets less current liabilities |  | 814,106 | 864,602
Creditors: Amounts falling due after more than one year | 6 | (174,731) | (211,661)
Net assets |  | 639,375 | 652,941
Capital and reserves |  |  |
Called up share capital |  | 189,726 | 190,476
Retained earnings |  | 449,649 | 462,465
Shareholders' funds |  | 639,375 | 652,941

For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

• | 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 (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 the financial year and of its profit or loss for each financial year in accordancce 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.

Strathearn Engineering Ltd.

(Registration number: SC286616)
Balance Sheet as at 30 June 2025 (continued)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 4 March 2026

......................................... J K Leckie Director

Strathearn Engineering Ltd.

Statement of Changes in Equity for the Year Ended 30 June 2025

| Share capital £ | Retained earnings £ | Total £
At 1 July 2024 | 190,476 | 462,465 | 652,941
Profit for the year | - | 78,184 | 78,184
Dividends | - | (91,000) | (91,000)
Purchase of own share capital | (750) | - | (750)
At 30 June 2025 | 189,726 | 449,649 | 639,375

| Share capital £ | Retained earnings £ | Total £
At 1 July 2023 | 250,000 | 521,530 | 771,530
Profit for the year | - | 34,883 | 34,883
Purchase of own share capital | (59,524) | (93,948) | (153,472)
At 30 June 2024 | 190,476 | 462,465 | 652,941

Strathearn Engineering Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

1 | General information

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

The address of its registered office is:
Drumlandy
Aberuthven
Perthshire
PH3 1HE

These financial statements were authorised for issue by the director on 4 March 2026.

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

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The exemptions under section 1A regarding cashflow statement and under s414B of the Companies Act regarding the strategic report have been taken this year.
The accounts have been prepared on a going concern basis.

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 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.

Strathearn Engineering Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)

2 | Accounting policies (continued)

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.

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
Land and buildings | 2% on cost
Plant and machinery etc | at variable rates on reducing balance

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.
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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Strathearn Engineering Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)

2 | Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 19 (2024 - 19).

4 | Tangible assets

| Land and buildings £ | Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 July 2024 | 630,656 | 214,454 | 73,629 | 918,739
Additions | - | 4,993 | - | 4,993
At 30 June 2025 | 630,656 | 219,447 | 73,629 | 923,732
Depreciation
At 1 July 2024 | 123,280 | 163,016 | 46,227 | 332,523
Charge for the year | 9,214 | 13,808 | 6,850 | 29,872
At 30 June 2025 | 132,494 | 176,824 | 53,077 | 362,395
Carrying amount
At 30 June 2025 | 498,162 | 42,623 | 20,552 | 561,337
At 30 June 2024 | 507,376 | 51,439 | 27,402 | 586,217

Included within the net book value of land and buildings above is £498,162 (2024 - £507,376) in respect of freehold land and buildings.

5 | Debtors

Strathearn Engineering Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)

5 | Debtors (continued)

Current | 2025 £ | 2024 £
Trade debtors | 143,361 | 130,235
Other debtors | 43,723 | 96,818
| 187,084 | 227,053

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 7 | 36,062 | 39,372
Trade creditors |  | 143,016 | 111,196
Taxation and social security |  | 93,030 | 58,741
Accruals and deferred income |  | 23,005 | 89,022
Other creditors |  | 5,876 | 9,609
|  | 300,989 | 307,940

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 7 | 174,731 | 211,661

Strathearn Engineering Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)

7 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 170,566 | 196,390
Hire purchase contracts | 4,165 | 15,271
| 174,731 | 211,661

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 24,956 | 24,796
Hire purchase contracts | 11,106 | 14,576
| 36,062 | 39,372

Loans and borrowings of £186,355 (2024 - £202,019) are secured by a bond and floating charge over the assets of the company and by a fixed security over the property at Drumlandy, Aberuthven. The loans are repayable over periods extending up to 10 years.
A loan of £9,167 (2024 - £19,167) under the Coronavirus Business Bounce Back Scheme is unsecured, bears interest at 2.5% over a period of 5 years with repayments commencing June 2021.

Strathearn Engineering Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)

8 | Related party transactions

Transactions with the director

2025 | At 1 July 2024 £ | Advances to director £ | Repayments by director £ | At 30 June 2025 £
J K Leckie
| 71,784 | 62,281 | (124,161) | 9,904

2024 | At 1 July 2023 £ | Advances to director £ | Repayments by director £ | At 30 June 2024 £
J K Leckie
| 69,279 | 2,505 | - | 71,784
GKS Leckie
| 3,281 | - | (3,281) | -

9 | Parent and ultimate parent undertaking

The ultimate controlling party is J K Leckie.