Registration number: SC293382

Gibson Fencing Supplies Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8
Accountants' Report	9

Gibson Fencing Supplies Limited

Company Information

Directors

Mrs Sandra Gibson Mr Dean McLaren Gibson

Company secretary

Mrs Sandra Gibson

Registered office

9 West Mains Industrial Estate Grangemouth FK3 8YE

Accountants

EQ Accountants Ltd Unit 4B Gateway Business Park Beancross Road Grangemouth FK3 8WX

Gibson Fencing Supplies Limited

(Registration number: SC293382)
Balance Sheet as at 28 February 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	16,992	22,655
Current assets
Stocks	5	13,268	14,742
Debtors	6	70,677	56,803
Cash at bank and in hand		77,760	91,588
		161,705	163,133
Creditors: Amounts falling due within one year	9	(148,847)	(131,810)
Net current assets		12,858	31,323
Total assets less current liabilities		29,850	53,978
Provisions for liabilities		(3,423)	(4,669)
Net assets		26,427	49,309
Capital and reserves
Called up share capital		100	100
Capital redemption reserve		1	1
Retained earnings		26,326	49,208
Shareholders' funds		26,427	49,309

For the financial year ending 28 February 2026 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 April 2026 and signed on its behalf by:
 

......................................... Mrs Sandra Gibson Company secretary and director

Gibson Fencing Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Gibson Fencing Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	Reducing balance at 25%
Fixtures and fittings	Reducing balance at 25%
Motor vehicles	Reducing balance at 25%
Computer equipment	Cost at 33%

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3	Employees and Directors

The average number of persons employed by the company (including directors) during the year, was 3 (2025 - 3).

Gibson Fencing Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Office equipment £	Motor vehicles  £
Cost or valuation
At 1 March 2025	661	24,051	3,071	51,490
Disposals	-	-	(3,071)	-
At 28 February 2026	661	24,051	-	51,490
Depreciation
At 1 March 2025	500	20,041	3,071	33,006
Charge for the year	40	1,002	-	4,621
Eliminated on disposal	-	-	(3,071)	-
At 28 February 2026	540	21,043	-	37,627
Carrying amount
At 28 February 2026	121	3,008	-	13,863
At 28 February 2025	161	4,010	-	18,484

	Total £
Cost or valuation
At 1 March 2025	79,273
Disposals	(3,071)
At 28 February 2026	76,202
Depreciation
At 1 March 2025	56,618
Charge for the year	5,663
Eliminated on disposal	(3,071)
At 28 February 2026	59,210
Carrying amount
At 28 February 2026	16,992
At 28 February 2025	22,655

5

Stocks

	2026 £	2025 £
Other inventories	13,268	14,742

Gibson Fencing Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

6

Debtors

Current	2026 £	2025 £
Trade debtors	70,434	56,560
Prepayments	243	243
	70,677	56,803

7	Loans and borrowings

Current loans and borrowings

	2026 £	2025 £
Hire purchase contracts	-	4,100

Gibson Fencing Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

8	Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

	2026  £	2025  £
Mr Dean McLaren Gibson	28,461	25,450
Mrs Sandra Gibson	28,462	25,452
	56,923	50,902

The maximum balance outstanding during the year amounted to £56,923.

The directors current accounts are repayable on demand.

Gibson Fencing Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

9

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	7	-	4,100
Trade creditors		71,096	55,364
Taxation and social security		16,925	17,728
Other creditors		60,826	54,618
		148,847	131,810

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Gibson Fencing Supplies Limited
for the Year Ended 28 February 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gibson Fencing Supplies Limited for the year ended 28 February 2026 as set out on pages 2 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Gibson Fencing Supplies Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Gibson Fencing Supplies Limited and state those matters that we have agreed to state to the Board of Directors of Gibson Fencing Supplies Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gibson Fencing Supplies Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Gibson Fencing Supplies Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Gibson Fencing Supplies Limited. You consider that Gibson Fencing Supplies Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Gibson Fencing Supplies Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

29 April 2026