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REGISTERED NUMBER: SC481013 (Scotland)

Unaudited Financial Statements for the Year Ended 31 July 2025

for

J&K Richardson Ltd

J&K Richardson Ltd (Registered number: SC481013)

Contents of the Financial Statements

for the Year Ended 31 July 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

J&K Richardson Ltd

Company Information

for the Year Ended 31 July 2025

| DIRECTORS: | J S Richardson

| Mrs K J Richardson

| REGISTERED OFFICE: | 1 Hazel Gardens

| Dundee

| DD2 1UF

| REGISTERED NUMBER: | SC481013 (Scotland)

| ACCOUNTANTS: | HMR Consulting Limited

| Kirk Farm Cottage

| Lundie

| Dundee

| Angus

| DD2 5NW

J&K Richardson Ltd (Registered number: SC481013)

Balance Sheet

31 July 2025

| 31.7.25 | 31.7.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 908,560 |  | 930,720 |  |

Tangible assets | 5 | 117,959 |  | 126,876 |  |

1,026,519 |  | 1,057,596 |  |

CURRENT ASSETS

Stocks | 71,713 |  | 75,598 |  |

Debtors | 6 | 295,959 |  | 250,133 |  |

Cash at bank and in hand | 102 |  | 264 |  |

367,774 |  | 325,995 |  |

CREDITORS

Amounts falling due within one year | 7 | 548,165 |  | 540,410 |  |

NET CURRENT LIABILITIES | (180,391 | ) | (214,415 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 846,128 |  | 843,181 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (130,808 | ) | (151,430 | ) |

PROVISIONS FOR LIABILITIES | (7,940 | ) | (8,146 | ) |

NET ASSETS | 707,380 |  | 683,605 |  |

CAPITAL AND RESERVES

Called up share capital | 2,395 |  | 2,395 |  |

Share premium | 99,205 |  | 99,205 |  |

Retained earnings | 605,780 |  | 582,005 |  |

SHAREHOLDERS' FUNDS | 707,380 |  | 683,605 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

J&K Richardson Ltd (Registered number: SC481013)

Balance Sheet - continued

31 July 2025

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 21 April 2026 and were signed on its behalf by:

J S Richardson - Director

J&K Richardson Ltd (Registered number: SC481013)

Notes to the Financial Statements

for the Year Ended 31 July 2025

1. | STATUTORY INFORMATION

| J&K Richardson Ltd 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.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements and going concern

| 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 are prepared in sterling which is the functional currency of the Company.

| At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue operating for the foreseeable future. The directors therefore continue to adopt the going concern basis of accounting in the preparation of the financial statements.

| Turnover

| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Consideration is given to the point at which the Company is entitled to receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

| Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied:

| - the amount of revenue can be measured reliably;

| - it is probable that the company will receive the consideration due; and

| - the costs incurred can be measured reliably.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of fifty years.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Tangible fixed assets

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

| Land and buildings | - | 2% on cost

| Plant and machinery etc | - | 25% on reducing balance, 20% on cost and 15% on reducing balance

| Stocks

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

| Financial instruments

| The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

J&K Richardson Ltd (Registered number: SC481013)

Notes to the Financial Statements - continued

for the Year Ended 31 July 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 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.

| Operating leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| 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.

| Borrowing costs

| All borrowing costs are recognised in the Profit and Loss account in the year in which they are incurred.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 13 (2024 - 16 ) .

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 August 2024

| and 31 July 2025 | 1,108,000 |  |

| AMORTISATION

| At 1 August 2024 | 177,280 |  |

| Charge for year | 22,160 |  |

| At 31 July 2025 | 199,440 |  |

| NET BOOK VALUE

| At 31 July 2025 | 908,560 |  |

| At 31 July 2024 | 930,720 |  |

J&K Richardson Ltd (Registered number: SC481013)

Notes to the Financial Statements - continued

for the Year Ended 31 July 2025

5. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 August 2024

| and 31 July 2025 | 100,000 |  | 181,573 |  | 281,573 |  |

| DEPRECIATION

| At 1 August 2024 | 16,000 |  | 138,697 |  | 154,697 |  |

| Charge for year | 2,000 |  | 6,917 |  | 8,917 |  |

| At 31 July 2025 | 18,000 |  | 145,614 |  | 163,614 |  |

| NET BOOK VALUE

| At 31 July 2025 | 82,000 |  | 35,959 |  | 117,959 |  |

| At 31 July 2024 | 84,000 |  | 42,876 |  | 126,876 |  |

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

| 31.7.25 |  | 31.7.24

£ | £ |

| Trade debtors | 220,514 |  | 188,050 |  |

| Other debtors | 75,445 |  | 62,083 |  |

295,959 |  | 250,133 |  |

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

| 31.7.25 |  | 31.7.24

£ | £ |

| Bank loans and overdrafts | 43,501 |  | 43,139 |  |

| Trade creditors | 146,507 |  | 158,355 |  |

| Taxation and social security | 15,302 |  | 10,621 |  |

| Other creditors | 342,855 |  | 328,295 |  |

548,165 |  | 540,410 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.7.25 |  | 31.7.24

£ | £ |

| Bank loans | 130,808 |  | 151,430 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yr by instal | 61,044 |  | 75,598 |  |

J&K Richardson Ltd (Registered number: SC481013)

Notes to the Financial Statements - continued

for the Year Ended 31 July 2025

9. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.7.25 |  | 31.7.24

£ | £ |

| Bank overdrafts | 17,322 |  | 15,979 |  |

| Bank loans | 156,987 |  | 178,590 |  |

174,309 |  | 194,569 |  |

| RBS advanced a loan of £50,000 in May 2020 under the Coronavirus Business Interruption Loan Scheme. The term of the loan is 6 years with interest charged at 2.5%. In the first year there were no capital repayments and the interest was covered by the Government.

| RBS advanced a loan of £166,000 to the company in January 2024. The term of the loan is 10 years and interest is applied quarterly at 3.85% p.a.over Base Rate. The loan is secured by a Bond and Floating Charge, a 1st Standard Security over the company's premises at 181-183 Blackness Road, Dundee and a guarantee of £236,000 from the directors.