Company registration number SC666222 (Scotland)
Balgownie Geoscience Ltd
Unaudited financial statements
for the year ended 31 July 2025
Pages for filing with registrar
Balgownie Geoscience Ltd
Chartered Accountants' report to the board of directors on the preparation of the
unaudited statutory financial statements of Balgownie Geoscience Ltd
1

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Balgownie Geoscience Ltd for the year ended 31 July 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-j une-20 20.

This report is made solely to the b oard of d irectors of Balgownie Geoscience Ltd, as a body, in accordance with the terms of our engagement letter dated 20 September 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Balgownie Geoscience Ltd and state those matters that we have agreed to state to the b oard of d irectors of Balgownie Geoscience Ltd, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Balgownie Geoscience Ltd and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that Balgownie Geoscience Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Balgownie Geoscience Ltd. You consider that Balgownie Geoscience 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 financial statements of Balgownie Geoscience 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 f inancial statements.

James Milne
Chartered Accountants
5 Bon Accord Square
Aberdeen
AB11 6XZ
14 April 2026
Balgownie Geoscience Ltd
Balance sheet
As at 31 July 2025
2
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
2
3,460
5,985
Current assets
Debtors
2,441
6,283
Cash at bank and in hand
8,902
11,209
11,343
17,492
Creditors: amounts falling due within one year
(900)
(2,613)
Net current assets
10,443
14,879
Total assets less current liabilities
13,903
20,864
Provisions for liabilities
(424)
(1,137)
Net assets
13,479
19,727
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
13,379
19,627
Total equity
13,479
19,727

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

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

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Balgownie Geoscience Ltd
Balance sheet (continued)
As at 31 July 2025
3
The financial statements were approved by the board of directors and authorised for issue on 11 April 2026 and are signed on its behalf by:
Steven Adams
Director
Company Registration No. SC666222
Balgownie Geoscience Ltd
Notes to the financial statements
for the year ended 31 July 2025
4
1
Accounting policies
Company information

Balgownie Geoscience Ltd is a private company limited by shares incorporated in Scotland. The registered office is 128 Kings Gate, Aberdeen, AB15 4EQ.

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.

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

1.2
Turnover

Turnover represents revenue recognised in the accounts. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying services.

1.3
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:

Plant and equipment
33% straight line

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.

Balgownie Geoscience Ltd
Notes to the financial statements (continued)
for the year ended 31 July 2025
1
Accounting policies (continued)
5
1.4
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.

2
Tangible fixed assets
Total
£
Cost
At 1 August 2024 and 31 July 2025
7,897
Depreciation and impairment
At 1 August 2024
1,912
Depreciation charged in the year
2,525
At 31 July 2025
4,437
Carrying amount
At 31 July 2025
3,460
At 31 July 2024
5,985
3
Directors' transactions

During the period the directors entered into the following advances and credits with the company :

Balgownie Geoscience Ltd
Notes to the financial statements (continued)
for the year ended 31 July 2025
3
Directors' transactions (continued)
6
Description
Opening debit balance
Amounts advanced
Amounts repaid
Closing debit balance
£
£
£
£
Steven Adams - Director's loan
507
1,263
(1,477)
293
507
1,263
(1,477)
293
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