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REGISTERED NUMBER: SC141597 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Matheson Plumbing Company Limited

Matheson Plumbing Company Limited (Registered number: SC141597)

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

Balance Sheet | 1 |

Notes to the Financial Statements | 3 |

Matheson Plumbing Company Limited (Registered number: SC141597)

Balance Sheet

31 December 2025

| 31.12.25 |  | 31.12.24

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 62,944 |  | 5,035 |  |

Investments | 5 | 500 |  | 500 |  |

63,444 |  | 5,535 |  |

CURRENT ASSETS

Stocks | 49,533 |  | 58,853 |  |

Debtors | 6 | 37,123 |  | 80,806 |  |

Cash at bank and in hand | 181,262 |  | 222,886 |  |

267,918 |  | 362,545 |  |

CREDITORS

Amounts falling due within one year | 7 | (70,492 | ) | (83,066 | ) |

NET CURRENT ASSETS | 197,426 |  | 279,479 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 260,870 |  | 285,014 |  |

PROVISIONS FOR LIABILITIES | (11,959 | ) | - |  |

NET ASSETS | 248,911 |  | 285,014 |  |

CAPITAL AND RESERVES

Called up share capital | 3,500 |  | 3,500 |  |

Capital redemption reserve | 3,500 |  | 3,500 |  |

Retained earnings | 241,911 |  | 278,014 |  |

SHAREHOLDERS' FUNDS | 248,911 |  | 285,014 |  |

Matheson Plumbing Company Limited (Registered number: SC141597)

Balance Sheet - continued

31 December 2025

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 6 March 2026 and were signed on its behalf by:

G S Matheson - Director

F Matheson - Director

Matheson Plumbing Company Limited (Registered number: SC141597)

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Matheson Plumbing Company Limited is a private company, limited by shares, domiciled in Scotland, registration number SC141597. The registered office is Unit H The Roundel, Middlefield Industrial Estate, Falkirk, FK2 9HG.

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.

| Turnover

| Turnover represents net invoiced sales of goods and services in respect of plumbing, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

| Tangible fixed assets and depreciation

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery etc | - | 25% on reducing balance and 20% on cost

| Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

| The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

| Stocks and work in progress

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

| Work in progress is valued on the basis of direct material and labour costs based on a normal level of activity. Provision is made for foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

| 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.

Matheson Plumbing Company Limited (Registered number: SC141597)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Hire purchase commitments

| Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the trading, profit and loss account on a straight line basis.

| 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.

| Fixed asset investments

| Fixed asset investments are stated at cost less provision for any permanent diminution in value.

| Provisions

| Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

| Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 12 (2024 - 13 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 January 2025 | 108,248 |  |

| Additions | 71,063 |  |

| Disposals | (18,219 | ) |

| At 31 December 2025 | 161,092 |  |

| DEPRECIATION

| At 1 January 2025 | 103,213 |  |

| Charge for year | 12,094 |  |

| Eliminated on disposal | (17,159 | ) |

| At 31 December 2025 | 98,148 |  |

| NET BOOK VALUE

| At 31 December 2025 | 62,944 |  |

| At 31 December 2024 | 5,035 |  |

Matheson Plumbing Company Limited (Registered number: SC141597)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

5. | FIXED ASSET INVESTMENTS

| Investments (neither listed nor unlisted) were as follows:

| 31.12.25 |  | 31.12.24

£ | £ |

| Cost brought forward | 500 |  | 500 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.25 |  | 31.12.24

£ | £ |

| Trade debtors | 2,818 |  | 50,538 |  |

| Other debtors | 34,305 |  | 30,268 |  |

37,123 |  | 80,806 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.25 |  | 31.12.24

£ | £ |

| Trade creditors | 31,321 |  | 54,533 |  |

| Amounts owed to related parties | 7,503 |  | 3,672 |  |

| Taxation and social security | 24,218 |  | 16,625 |  |

| Other creditors | 7,450 |  | 8,236 |  |

70,492 |  | 83,066 |  |

8. | RELATED PARTY DISCLOSURES

| The company rents premises jointly owned by the director and another family member. The annual rental charge paid by the company is £6,000 (2024 - £6,000).

| Companies under common control

| At the year end the company was due £7,503 (2024: £3,672) to a company with a common director and shareholders.

| During the year, the company received a management charge of £NIL (2024 - £36,000).

| Transactions between companies under common control were as below;

| Sales - £9,614 (2024 - £47,887)

| Purchases - £78,345 (2024 - £84,883)