IRIS Accounts Production v25.4.12.37 SC118695 Board of Directors 1.7.24 30.6.25 30.6.25 24.3.26 false true false false true true false Auditors Opinion Ordinary class "A" shares of £1 each 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC118695 2024-06-30 SC118695 2025-06-30 SC118695 2024-07-01 2025-06-30 SC118695 2023-06-30 SC118695 2023-07-01 2024-06-30 SC118695 2024-06-30 SC118695 ns15:Scotland 2024-07-01 2025-06-30 SC118695 ns14:PoundSterling 2024-07-01 2025-06-30 SC118695 ns10:Director1 2024-07-01 2025-06-30 SC118695 ns10:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 SC118695 ns10:SmallEntities 2024-07-01 2025-06-30 SC118695 ns10:Audited 2024-07-01 2025-06-30 SC118695 ns10:SmallCompaniesRegimeForDirectorsReport 2024-07-01 2025-06-30 SC118695 ns10:SmallCompaniesRegimeForAccounts 2024-07-01 2025-06-30 SC118695 ns10:AbridgedAccounts 2024-07-01 2025-06-30 SC118695 ns10:OrdinaryShareClass1 2024-07-01 2025-06-30 SC118695 ns10:Director2 2024-07-01 2025-06-30 SC118695 ns10:Director3 2024-07-01 2025-06-30 SC118695 ns10:Director4 2024-07-01 2025-06-30 SC118695 ns10:CompanySecretary1 2024-07-01 2025-06-30 SC118695 ns10:RegisteredOffice 2024-07-01 2025-06-30 SC118695 ns5:CurrentFinancialInstruments 2025-06-30 SC118695 ns5:CurrentFinancialInstruments 2024-06-30 SC118695 ns5:Non-currentFinancialInstruments 2025-06-30 SC118695 ns5:Non-currentFinancialInstruments 2024-06-30 SC118695 ns5:ShareCapital 2025-06-30 SC118695 ns5:ShareCapital 2024-06-30 SC118695 ns5:SharePremium 2025-06-30 SC118695 ns5:SharePremium 2024-06-30 SC118695 ns5:CapitalRedemptionReserve 2025-06-30 SC118695 ns5:CapitalRedemptionReserve 2024-06-30 SC118695 ns5:RetainedEarningsAccumulatedLosses 2025-06-30 SC118695 ns5:RetainedEarningsAccumulatedLosses 2024-06-30 SC118695 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-06-30 SC118695 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-06-30 SC118695 ns5:Non-currentFinancialInstruments ns5:BetweenOneTwoYears 2025-06-30 SC118695 ns5:Non-currentFinancialInstruments ns5:BetweenOneTwoYears 2024-06-30 SC118695 ns5:Non-currentFinancialInstruments ns5:BetweenTwoFiveYears 2025-06-30 SC118695 ns5:Non-currentFinancialInstruments ns5:BetweenTwoFiveYears 2024-06-30 SC118695 ns5:WithinOneYear 2025-06-30 SC118695 ns5:WithinOneYear 2024-06-30 SC118695 ns5:BetweenOneFiveYears 2025-06-30 SC118695 ns5:BetweenOneFiveYears 2024-06-30 SC118695 ns5:MoreThanFiveYears 2025-06-30 SC118695 ns5:MoreThanFiveYears 2024-06-30 SC118695 ns5:AllPeriods 2025-06-30 SC118695 ns5:AllPeriods 2024-06-30 SC118695 ns10:OrdinaryShareClass1 2025-06-30 SC118695 ns5:RetainedEarningsAccumulatedLosses 2024-06-30 SC118695 ns5:SharePremium 2024-06-30 SC118695 ns5:CapitalRedemptionReserve 2024-06-30 SC118695 ns5:RetainedEarningsAccumulatedLosses 2024-07-01 2025-06-30

REGISTERED NUMBER: SC118695 (Scotland)

Audited Financial Statements For The Year Ended 30 June 2025

for

TPL Labels Limited

| TPL Labels Limited (Registered number: SC118695) |

Contents of the Financial Statements

For The Year Ended 30 June 2025

Page |

| Company Information | 1 |

| Abridged Statement of Financial Position | 2 |

| Notes to the Financial Statements | 3 |

| TPL Labels Limited |

Company Information

For The Year Ended 30 June 2025

| DIRECTORS: | T Brown

| S Cumming

| I J Johnstone

| C Lindsay

| SECRETARY: | S Cumming

| REGISTERED OFFICE: | C/O Robb Ferguson Chartered Accountants

| 3rd Floor

| 70 West Regent Street

| Glasgow

| G2 2QZ

| REGISTERED NUMBER: | SC118695 (Scotland)

| INDEPENDENT AUDITORS: | Robb Ferguson

| Chartered Accountants & Statutory Auditors

| Regent Court

| 70 West Regent Street

| Glasgow

| G2 2QZ

| TPL Labels Limited (Registered number: SC118695) |

Abridged Statement of Financial Position

30 June 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 1,004,069 |  | 1,128,631 |  |

CURRENT ASSETS

Stocks | 285,691 |  | 310,958 |  |

Debtors | 3,769,298 |  | 3,710,799 |  |

Cash at bank | 2,398 |  | 2,253 |  |

4,057,387 |  | 4,024,010 |  |

CREDITORS

Amounts falling due within one year | 1,306,132 |  | 1,209,518 |  |

NET CURRENT ASSETS | 2,751,255 |  | 2,814,492 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,755,324 |  | 3,943,123 |  |

CREDITORS

Amounts falling due after more than one year | (404,805 | ) | (657,702 | ) |

PROVISIONS FOR LIABILITIES | (172,913 | ) | (175,546 | ) |

NET ASSETS | 3,177,606 |  | 3,109,875 |  |

CAPITAL AND RESERVES

Called up share capital | 7 | 24,700 |  | 24,700 |  |

Share premium | 8 | 3,000 |  | 3,000 |  |

Capital redemption reserve | 8 | 30,700 |  | 30,700 |  |

Retained earnings | 8 | 3,119,206 |  | 3,051,475 |  |

SHAREHOLDERS' FUNDS | 3,177,606 |  | 3,109,875 |  |

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

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 30 June 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 March 2026 and were signed on its behalf by:

S Cumming - Director

| TPL Labels Limited (Registered number: SC118695) |

Notes to the Financial Statements

For The Year Ended 30 June 2025

1. | STATUTORY INFORMATION

| TPL Labels Limited 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| The financial statements have been prepared under the historical cost convention. The principal accounting

| policies are set out below.

| This company is a qualifying entity for purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group.

| The financial statements of the company are consolidated in the financial statements of The GT4 Group Limited. These consolidated financial statements are available from its registered office, C/O Robb Ferguson Chartered Accountants, 70 West Regent Street, Glasgow, Scotland, G2 2QZ

| Related party exemption

| 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.

| Turnover

| Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in normal course of business, and is shown net of VAT and other sales related taxes. The fair value 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 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.

| TPL Labels Limited (Registered number: SC118695) |

Notes to the Financial Statements - continued

For The Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| 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:

| Improvements to property |  | Straight line over 12 - 25 years |  |

| Plant and equipment |  | Straight line over 4 - 25 years |  |

| 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.

| 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 ar 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.

| Recoverable amount is the higher of far value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

| If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

| Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss beer recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

| 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 stock to its present location and condition.

| At each reporting date, an assessment is made for impairment. Any excess on the carrying amount of the stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the profit or loss. Reversals of impairment losses are also recognised in the profit or loss.

| 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.

| TPL Labels Limited (Registered number: SC118695) |

Notes to the Financial Statements - continued

For The Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| 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 af interest. Financial assets Classified as receivable within one year are not amortised.

| Impairment of financial assets

| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of

| impairment at each reporting end date.

| Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

| Derecognition of financial assets

| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or it some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

| 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.

| 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 payments 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 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 interest method.

| TPL Labels Limited (Registered number: SC118695) |

Notes to the Financial Statements - continued

For The Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| 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 statement of financial position 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 lax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Leases

| Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

| Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting ot capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

| Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

| Government grants

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

| A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| TPL Labels Limited (Registered number: SC118695) |

Notes to the Financial Statements - continued

For The Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| 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 stock or fixed assets.

| The cost of any unused holiday entitlement is recognised in the period in which the employees services are recieved.

| 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.

| 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.

| 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.

| Critical judgements

| The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

| Stock and bad debt provisions

| Stocks are valued at the lower of cost and selling price less costs to complete and sell. This includes, where necessary, provisions for slow moving stocks. Calculations of these provisions requires judgements to be made, including the competitive and economic environment and market trends.

| Calculations made in respect of provisions for doubtful debts requires judgement. This judgement is based on customer base and the economic environment.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 9 (2024 - 12 ) .

| TPL Labels Limited (Registered number: SC118695) |

Notes to the Financial Statements - continued

For The Year Ended 30 June 2025

4. | TANGIBLE FIXED ASSETS

| Totals

£ |

| COST

| At 1 July 2024 | 2,973,537 |  |

| Additions | 18,778 |  |

| At 30 June 2025 | 2,992,315 |  |

| DEPRECIATION

| At 1 July 2024 | 1,844,906 |  |

| Charge for year | 143,340 |  |

| At 30 June 2025 | 1,988,246 |  |

| NET BOOK VALUE

| At 30 June 2025 | 1,004,069 |  |

| At 30 June 2024 | 1,128,631 |  |

| The net carrying value of tangible fixed assets which are held against a loan balance of £394,288 (2024: £504,521) at the year end was £761,173 (2024: £838,354).

5. | LOANS

| An analysis of the maturity of loans is given below:

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank loans | 351,384 |  | 192,712 |  |

| Amounts falling due between one and two years:

| Bank loans - 1-2 years | 183,717 |  | 213,557 |  |

| Amounts falling due between two and five years:

| Bank loans - 2-5 years | 209,681 |  | 412,758 |  |

| Included in bank overdrafts is £444,352 (2024: £362,817) relating to the invoice discounting facility.

| £394,288 (2024: £504,521) of Bank loans are represented by a term loan. The loan is secured over the assets of the business with a net book value of £761,173 (2024: £838,354)

| The group's bankers hold security in the form of a bond and a floating charge over the assets of the company, and a cross guarantee between the company and the group.

6. | LEASING AGREEMENTS

| Liabilities held in respect of hire purchase agreements are secured over the assets in which they relate to.

| TPL Labels Limited (Registered number: SC118695) |

Notes to the Financial Statements - continued

For The Year Ended 30 June 2025

6. | LEASING AGREEMENTS - continued

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 45,000 |  | 45,000 |  |

| Between one and five years | 180,000 |  | 180,000 |  |

| In more than five years | 592,500 |  | 637,500 |  |

817,500 |  | 862,500 |  |

7. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 24,700 | Ordinary class "A" shares of |

| £1 each | 1 | 24,700 |  | 24,700 |  |

8. | RESERVES

| Capital |

| Retained |  | Share |  | redemption |

| earnings |  | premium |  | reserve |  | Totals

£ | £ | £ | £ |

| At 1 July 2024 | 3,051,475 |  | 3,000 |  | 30,700 |  | 3,085,175 |  |

| Profit for the year | 67,731 |  | 67,731 |  |

| At 30 June 2025 | 3,119,206 |  | 3,000 |  | 30,700 |  | 3,152,906 |  |

9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Graham M Cantlay (Senior Statutory Auditor)

| for and on behalf of Robb Ferguson

10. | RELATED PARTY DISCLOSURES

| 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 wi thin the group.

11. | ULTIMATE CONTROLLING PARTY

| TPL Labels Limited is a 100% subsidiary of The GT4 Group Limited, a company incorporated in Scotland which is under the control of I J Johnstone.