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Company No: SC741982 (Scotland)

# SR MORRISON LTD

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2025
PAGES FOR FILING WITH THE REGISTRAR

SR MORRISON LTD

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2025

Contents

SR MORRISON LTD

## BALANCE SHEET

AS AT 31 AUGUST 2025
SR MORRISON LTD

## BALANCE SHEET (continued)

AS AT 31 AUGUST 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 212,311 |  | 176,778
|  | 212,311 |  | 176,778
Current assets |  |  |  |
Debtors | 4 | 29,991 |  | 58,348
Cash at bank and in hand |  | 90,822 |  | 23,720
|  | 120,813 |  | 82,068
Creditors: amounts falling due within one year | 5 | ( 105,208) |  | ( 149,665)
Net current assets/(liabilities) |  | 15,605 |  | (67,597)
Total assets less current liabilities |  | 227,916 |  | 109,181
Creditors: amounts falling due after more than one year | 6 | ( 14,069) |  | ( 30,703)
Provision for liabilities |  | ( 40,339) |  | ( 19,684)
Net assets |  | 173,508 |  | 58,794
Capital and reserves |  |  |  |
Called-up share capital | 7 | 2 |  | 2
Profit and loss account |  | 173,506 |  | 58,792
Total shareholder's funds |  | 173,508 |  | 58,794

For the financial year ending 31 August 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of SR Morrison Ltd (registered number: SC741982) were approved and authorised for issue by the Board of Directors on 19 April 2026. They were signed on its behalf by:

Robert Morrison Director |

SR MORRISON LTD

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2025
SR MORRISON LTD

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

SR Morrison Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is c/o Johnston Carmichael Bishop's court, 29 Albyn Place, Aberdeen, AB10 1YL. The principal place of business is Mosacre, Boharm, Craigellachie, Aberlour, AB38 9RL.
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services from forestry harvesting and extraction services net of VAT.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery | 20 % reducing balance
Vehicles | 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
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 assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.
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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Tangible assets

| Plant and machinery |  | Vehicles |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 September 2024 | 238,342 |  | 0 |  | 238,342
Additions | 65,000 |  | 57,054 |  | 122,054
Disposals | ( 76,500) |  | 0 |  | ( 76,500)
At 31 August 2025 | 226,842 |  | 57,054 |  | 283,896
Accumulated depreciation |  |  |  |  |
At 01 September 2024 | 61,564 |  | 0 |  | 61,564
Charge for the financial year | 32,164 |  | 7,607 |  | 39,771
Disposals | ( 29,750) |  | 0 |  | ( 29,750)
At 31 August 2025 | 63,978 |  | 7,607 |  | 71,585
Net book value |  |  |  |  |
At 31 August 2025 | 162,864 |  | 49,447 |  | 212,311
At 31 August 2024 | 176,778 |  | 0 |  | 176,778

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 18,672 |  | 9,000
Other debtors | 11,319 |  | 49,348
| 29,991 |  | 58,348

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 3,659 |  | 5,944
Taxation and social security | 421 |  | 545
Obligations under finance leases and hire purchase contracts (secured) | 40,599 |  | 34,091
Other creditors | 60,529 |  | 109,085
| 105,208 |  | 149,665

Hire purchase obligations are secured by fixed charges over the assets to which they relate to.

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Obligations under finance leases and hire purchase contracts (secured) | 14,069 |  | 30,703

Hire purchase obligations are secured by fixed charges over the assets to which they relate to.

#### 7. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
2 Ordinary shares of £ 1.00 each | 2 |  | 2

#### 8. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Directors Loan Account | 54,680 |  | 105,385

These loans are interest free and repayable on demand