Company No: SC399487 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	3,896		5,381
		3,896		5,381
Current assets
Stocks	4	29,301		32,688
Debtors	5	9,894		5,648
Cash at bank and in hand	6	40,306		71,223
		79,501		109,559
Creditors: amounts falling due within one year	7	( 43,934)		( 49,943)
Net current assets		35,567		59,616
Total assets less current liabilities		39,463		64,997
Provision for liabilities	8, 9	( 921)		( 1,316)
Net assets		38,542		63,681
Capital and reserves
Called-up share capital	10	50		50
Capital redemption reserve		50		50
Profit and loss account		38,442		63,581
Total shareholders' funds		38,542		63,681

For the financial year ending 31 December 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 M & W Products Ltd t/a Alba Towing (registered number: SC399487) were approved and authorised for issue by the Board of Directors on 21 April 2026. They were signed on its behalf by:

Iain Peter Waddell 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

M & W Products Ltd t/a Alba Towing (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, Scotland, United Kingdom.

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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and is shown net of VAT and trade discounts.

Turnover is recognised on the dispatch of goods.

Employee benefits

Short term benefits
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 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	5 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	5 years straight line

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. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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, are recognised at transaction price.

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.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		4

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 January 2025	7,867		15,995		3,524		27,386
Additions	699		0		0		699
Disposals	( 1,100)		0		0		( 1,100)
At 31 December 2025	7,466		15,995		3,524		26,985
Accumulated depreciation
At 01 January 2025	6,355		12,656		2,994		22,005
Charge for the financial year	386		835		175		1,396
Disposals	( 312)		0		0		( 312)
At 31 December 2025	6,429		13,491		3,169		23,089
Net book value
At 31 December 2025	1,037		2,504		355		3,896
At 31 December 2024	1,512		3,339		530		5,381

4. Stocks

	2025		2024
	£		£
Stocks	29,301		32,288
Work in progress	0		400
	29,301		32,688

5. Debtors

	2025		2024
	£		£
Trade debtors	9,894		5,648

6. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	40,306		71,223

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	14,474		21,241
Taxation and social security	8,869		9,624
Other creditors	20,591		19,078
	43,934		49,943

8. Provision for liabilities

	2025		2024
	£		£
Deferred tax	921		1,316

9. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 1,316)		( 1,815)
Credited to the Statement of Income and Retained Earnings	395		499
At the end of financial year	( 921)		( 1,316)

10. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
50 Ordinary B shares of £ 1.00 each	50		50

11. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	9,170		8,640

12. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Amounts due to Directors	16,379		15,505

This loan is unsecured, interest free and repayable on demand.