Company No: SC137487 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	528,706		526,960
		528,706		526,960
Current assets
Stocks		598,460		563,230
Debtors	4	2,477,527		2,503,965
Cash at bank and in hand		110,968		23,065
		3,186,955		3,090,260
Creditors: amounts falling due within one year	5	( 2,618,975)		( 2,793,763)
Net current assets		567,980		296,497
Total assets less current liabilities		1,096,686		823,457
Creditors: amounts falling due after more than one year	6	( 93,612)		( 135,189)
Provision for liabilities	7	( 113,114)		( 120,257)
Net assets		889,960		568,011
Capital and reserves
Called-up share capital	8	60,000		60,000
Profit and loss account		829,960		508,011
Total shareholders' funds		889,960		568,011

For the financial year ending 30 April 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 Yardbury Engineering & Oilfield Products Limited (registered number: SC137487) were approved and authorised for issue by the Board of Directors on 28 April 2026. They were signed on its behalf by:

Robert Robertson 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

Yardbury Engineering & Oilfield Products 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 Greenhole Place, Bridge Of Don, Aberdeen, AB23 8EU, 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.

In accordance with Section 390 of the Companies Act 2006, these financial statements cover the period from 1 May 2024 to 30 April 2025.

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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

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

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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, 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:

Land and buildings	10 years straight line
Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	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.

Leases

The Company as lessee
Assets held under hire purchase contracts, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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 and intangible 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.

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, cash and bank balances, are measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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	47		47

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 May 2024	176,048		2,722,206		146,665		164,538		3,209,457
Additions	36,966		86,838		43,480		15,615		182,899
Disposals	0		( 798,597)		( 60,875)		0		( 859,472)
At 30 April 2025	213,014		2,010,447		129,270		180,153		2,532,884
Accumulated depreciation
At 01 May 2024	154,941		2,331,724		61,357		134,475		2,682,497
Charge for the financial year	5,810		111,287		21,099		8,614		146,810
Disposals	0		( 777,470)		( 47,659)		0		( 825,129)
At 30 April 2025	160,751		1,665,541		34,797		143,089		2,004,178
Net book value
At 30 April 2025	52,263		344,906		94,473		37,064		528,706
At 30 April 2024	21,107		390,482		85,308		30,063		526,960

4. Debtors

	2025		2024
	£		£
Trade debtors	2,376,210		2,386,168
Other debtors	101,317		117,797
	2,477,527		2,503,965

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts (secured)	1,216,526		1,531,267
Trade creditors	970,678		973,693
Taxation and social security	327,585		147,404
Obligations under finance leases and hire purchase contracts	35,894		43,875
Other creditors	68,292		97,524
	2,618,975		2,793,763

Bank loans and overdrafts are secured by a bond and floating charge over the assets of the company, with the bank loan having additional security under the Enterprise Finance Guarantee.

Amounts included in obligations under finance leases and hire purchase contracts are secured over the assets to which they relate.

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

	2025		2024
	£		£
Bank loans (secured)	33,334		73,333
Obligations under finance leases and hire purchase contracts	60,278		61,856
	93,612		135,189

The bank loan is secured under the Enterprise Finance Guarantee.

Amounts included in obligations under finance leases and hire purchase contracts are secured over the assets to which they relate.

7. Provision for liabilities

	2025		2024
	£		£
Deferred tax	113,114		120,257

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
30,000 Ordinary A shares of £ 1.00 each	30,000		30,000
30,000 Ordinary B shares of £ 1.00 each	30,000		30,000
	60,000		60,000

9. Financial commitments

Commitments

Capital commitments are as follows:

	2025		2024
	£		£
Contracted for but not provided for:
Tangible fixed assets	0		35,000

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	29,108		36,730

10. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Directors' Loan Accounts - amounts owed to the company	29,841		32,848

The loans disclosed are interest free and there are no fixed terms of repayment.