Company registration number SC222640 (Scotland)
FERGUSONS BAKERS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 AUGUST 2025
PAGES FOR FILING WITH REGISTRAR
FERGUSONS BAKERS LIMITED
COMPANY INFORMATION
Directors
G McGhee
I C McGhee
S A McGhee
Secretary
I C McGhee
Company number
SC222640
Registered office
10 Keppochhill Drive
M8 Food Park
Glasgow
United Kingdom
G21 1HX
Auditor
Azets Audit Services
Titanium 1
Kings Inch Place
Renfrew
United Kingdom
PA4 8WF
Business address
Block 6
Glenfield Place
Glencairn Industrial Estate
Kilmarnock
United Kingdom
KA1 4AZ
FERGUSONS BAKERS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 9
FERGUSONS BAKERS LIMITED
BALANCE SHEET
AS AT
2 AUGUST 2025
02 August 2025
- 1 -
2 August 2025
3 August 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
1,492,814
1,220,666
Current assets
Stocks
94,803
105,397
Debtors
6
721,726
764,256
Cash at bank and in hand
429,443
272,695
1,245,972
1,142,348
Creditors: amounts falling due within one year
7
(945,275)
(837,583)
Net current assets
300,697
304,765
Total assets less current liabilities
1,793,511
1,525,431
Provisions for liabilities
(298,574)
(119,845)
Net assets
1,494,937
1,405,586
Capital and reserves
Called up share capital
250,000
250,000
Profit and loss reserves
1,244,937
1,155,586
Total equity
1,494,937
1,405,586

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 20 February 2026 and are signed on its behalf by:
G McGhee
Director
Company registration number SC222640 (Scotland)
FERGUSONS BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2 AUGUST 2025
- 2 -
1
Accounting policies
Company information

Fergusons Bakers Limited is a private company limited by shares incorporated in Scotland. The registered office is 10 Keppochhill Drive, M8 Food Park, Glasgow, United Kingdom, G21 1HX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors are required to prepare the statutory financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. In satisfaction of this responsibility the directors have considered the Company's ability to meet its liabilities as they fall due.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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

1.4
Intangible fixed assets - goodwill

Goodwill, being amounts paid in connection with the acquisition of businesses in excess of the fair value of the assets and liabilities acquired, is capitalised and amortised evenly over its useful life over a period of up to ten years.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Short leasehold
over the period of the lease
Plant and machinery
at varying rates of 10% to 50%
Motor vehicles
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

FERGUSONS BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 2 AUGUST 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and 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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

FERGUSONS BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 2 AUGUST 2025
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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 interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

FERGUSONS BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 2 AUGUST 2025
1
Accounting policies
(Continued)
- 5 -
1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
86
87
4
Intangible fixed assets
Goodwill
£
Cost
At 4 August 2024 and 2 August 2025
209,629
Amortisation and impairment
At 4 August 2024 and 2 August 2025
209,629
Carrying amount
At 2 August 2025
-
0
At 3 August 2024
-
0
FERGUSONS BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 2 AUGUST 2025
- 6 -
5
Tangible fixed assets
Short leasehold
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 4 August 2024
606,466
2,043,164
447,020
3,096,650
Additions
-
0
363,890
186,638
550,528
Disposals
(15,117)
(22,422)
(104,500)
(142,039)
At 2 August 2025
591,349
2,384,632
529,158
3,505,139
Depreciation and impairment
At 4 August 2024
539,134
1,082,940
253,910
1,875,984
Depreciation charged in the year
17,643
138,737
121,603
277,983
Eliminated in respect of disposals
(40)
(37,106)
(104,496)
(141,642)
At 2 August 2025
556,737
1,184,571
271,017
2,012,325
Carrying amount
At 2 August 2025
34,612
1,200,061
258,141
1,492,814
At 3 August 2024
67,332
960,224
193,110
1,220,666
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
222,742
233,353
Amounts owed by group undertakings
349,129
374,145
Other debtors
26,388
53,832
Prepayments and accrued income
123,467
102,926
721,726
764,256
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
391,308
585,554
Amounts owed to group undertakings
250,161
65,174
Corporation tax
-
0
23
Accruals and deferred income
303,806
186,832
945,275
837,583
FERGUSONS BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 2 AUGUST 2025
- 7 -
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 2 August 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Michael Walker
Statutory Auditor:
Azets Audit Services
Date of audit report:
27 February 2026
FERGUSONS BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 2 AUGUST 2025
- 8 -
9
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
1,165,611
127,925
10
Financial commitments, guarantees and contingent liabilities

The company has cross guaranteed the following borrowings of D McGhee & Sons Limited and Kerr's Bakery Limited:

a) The bank overdraft facility, which amounted to £nil at 02 August 2025 (2024: £1,272,325).

b) Loans due amounts to £825,410 at 02 August 2025 (2024: £906,271).

The bank holds a counter indemnity from the company.

11
Capital commitments

Amounts contracted for but not provided in the financial statements:

2025
2024
£
£
Acquisition of tangible fixed assets
105,542
336,726
12
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Purchases
Purchases
2025
2024
£
£
A company with a mutual director
150,472
150,967

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due to related parties
£
£
A company with a mutual director
10,281
13,511
FERGUSONS BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 2 AUGUST 2025
12
Related party transactions
(Continued)
- 9 -
Other information

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13
Parent company

The parent company of Fergusons Bakers Limited is D McGhee & Sons Limited, a company registered in the UK.

The ultimate controlling party is McGhee Group Limited.

The smallest group the company is consolidated in to is D McGhee & Sons Limited. The largest group the company is consolidated in to is McGhee Group Limited.

The group accounts can be obtained from it's registered address of 10 Keppochhill Drive, Glasgow, G21 1HX.

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