Company No: SC265784 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	1,394,807		1,349,121
		1,394,807		1,349,121
Current assets
Stocks		437,853		131,159
Debtors	4	1,812,911		2,824,530
Cash at bank and in hand		2,450,928		1,063,843
		4,701,692		4,019,532
Creditors: amounts falling due within one year	5	( 1,731,701)		( 1,301,251)
Net current assets		2,969,991		2,718,281
Total assets less current liabilities		4,364,798		4,067,402
Provision for liabilities	6, 7	( 89,287)		( 72,586)
Net assets		4,275,511		3,994,816
Capital and reserves
Called-up share capital	8	140		140
Profit and loss account		4,275,371		3,994,676
Total shareholders' funds		4,275,511		3,994,816

For the financial year ending 30 September 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Scot-Steel Buildings Limited (registered number: SC265784) were approved and authorised for issue by the Board of Directors on 20 April 2026. They were signed on its behalf by:

John Mcpherson Director

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

Scot-Steel Buildings Limited (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, 15 Academy Street, Forfar, DD8 2HA, United Kingdom.

The financial statements have been prepared under the historical cost convention 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for construction and building repairs services provided in the normal course of business, and is shown net of VAT.

Revenue is recognised on the accruals basis.

Employee benefits

Short term 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.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 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:

Land and buildings	50 years straight line
	not depreciated
Plant and machinery etc.	25 % 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 Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible 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).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

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 and bank loans 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.

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	16		18

3. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 October 2024	1,444,795		737,899		2,182,694
Additions	0		120,102		120,102
Disposals	0		( 73,685)		( 73,685)
At 30 September 2025	1,444,795		784,316		2,229,111
Accumulated depreciation
At 01 October 2024	226,746		606,827		833,573
Charge for the financial year	25,193		46,860		72,053
Disposals	0		( 71,322)		( 71,322)
At 30 September 2025	251,939		582,365		834,304
Net book value
At 30 September 2025	1,192,856		201,951		1,394,807
At 30 September 2024	1,218,049		131,072		1,349,121

4. Debtors

	2025		2024
	£		£
Trade debtors	1,091,208		1,974,825
Other debtors	721,703		849,705
	1,812,911		2,824,530

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	0		49,841
Trade creditors	844,571		818,305
Taxation and social security	408,873		299,095
Other creditors	478,257		134,010
	1,731,701		1,301,251

The bank loan is secured by a fixed charge over the land at Eassie, Glamis near Forfar.

6. Provision for liabilities

	2025		2024
	£		£
Deferred tax	89,287		72,586

7. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 72,586)		( 74,095)
(Charged)/credited to the Statement of Income and Retained Earnings	( 16,701)		1,509
At the end of financial year	( 89,287)		( 72,586)

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 A ordinary shares of £ 1.00 each	100		100
40 B ordinary shares of £ 1.00 each	40		40
	140		140

9. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Amounts due by the directors	29,884		544,967

In this period, advances totalling £37,221 have been made to directors and £559,455 has been repaid. Interest of £7,151 has been charged on the advances at a rate of 2.25% up to 05 April 2025 and 3.75% thereafter. This loan is unsecured and has been repaid within nine months of the balance sheet date.