Company No: 05186413 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	76,990		96,111
Investment property	4	3,819,309		1,700,000
Investments	5	41,100		41,100
		3,937,399		1,837,211
Current assets
Stocks		179,099		162,322
Debtors
- due within one year	6	3,108,603		2,589,571
- due after more than one year	6	151,550		0
Cash at bank and in hand		426,278		568,896
		3,865,530		3,320,789
Creditors: amounts falling due within one year	7	( 1,698,245)		( 1,330,370)
Net current assets		2,167,285		1,990,419
Total assets less current liabilities		6,104,684		3,827,630
Creditors: amounts falling due after more than one year	8	( 2,179,555)		0
Provision for liabilities		( 72,867)		( 74,725)
Net assets		3,852,262		3,752,905
Capital and reserves
Called-up share capital	9	2		2
Revaluation reserve		26,325		26,325
Profit and loss account		3,825,935		3,726,578
Total shareholder's funds		3,852,262		3,752,905

For the financial year ending 31 August 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has 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 Profit and Loss Account has not been delivered.

The financial statements of Traynor Williams Ironmongery (Glasgow) Limited (registered number: 05186413) were approved and authorised for issue by the Board of Directors on 29 May 2026. They were signed on its behalf by:

Mr S Traynor 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

Traynor Williams Ironmongery (Glasgow) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Acre House, 11/15 William Road, London, NW1 3ER, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, 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 £.

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 Profit and Loss Account 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 and other sales related taxes.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established.

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.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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:

Plant and machinery	4 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	4 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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, 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. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

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 Profit and Loss Account as described below.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. No depreciation is provided in respect of these properties.

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and 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, bank loans and loans from fellow group companies, are initially recognised at transaction price. 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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

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

Provisions are recognised when the Company has a present obligation (legal or constructive) 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. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	13		13

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 September 2024	42,586		122,460		61,948		226,994
Additions	0		0		6,649		6,649
At 31 August 2025	42,586		122,460		68,597		233,643
Accumulated depreciation
At 01 September 2024	6,548		67,328		57,007		130,883
Charge for the financial year	9,178		13,783		2,809		25,770
At 31 August 2025	15,726		81,111		59,816		156,653
Net book value
At 31 August 2025	26,860		41,349		8,781		76,990
At 31 August 2024	36,038		55,132		4,941		96,111

4. Investment property

	Investment property
	£
Valuation
As at 01 September 2024	1,700,000
Additions	3,649,309
Disposals	(1,530,000)
As at 31 August 2025	3,819,309

Valuation

At the year end, the directors believe the carrying value of £3,819,309 represents a fair reflection of the open market value of the properties.

5. Fixed asset investments

	2025		2024
	£		£
Subsidiary undertakings	41,100		41,100

6. Debtors

	2025		2024
	£		£
Debtors: amounts falling due within one year
Trade debtors	1,024,366		903,218
Prepayments	15,887		10,370
Other debtors	2,068,350		1,675,983
	3,108,603		2,589,571
Debtors: amounts falling due after more than one year
Deposits	151,550		0

The company has a restricted cash deposit of €175,000 held on deposit with CaixaBank which has been pledged as security for a loan of the same amount. The deposit is subject to restriction and is not available for repayment until the loan is repaid. The loan has a term of 15 years, maturing on 19 June 2040

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank overdrafts	59,092		109,383
Trade creditors	928,875		840,146
Amounts owed to related parties	61,885		57,345
Taxation and social security	258,304		198,109
Other creditors	390,089		125,387
	1,698,245		1,330,370

Bank loans and mortgages are secured by a standard security over the investment property and all other company assets.

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

	2025		2024
	£		£
Other creditors	2,179,555		0

Bank loans and mortgages are secured by a standard security over the investment property and all other company assets.

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each	2		2

10. Related party transactions

Traynor Williams Ironmongery (Glasgow) Limited has guaranteed the lease obligations in respect of the trading premises occupied by Traynor Williams (Aberdeen) Limited.

During the year to 31 August 2025 Traynor Williams Ironmongery (Glasgow) Limited received net intercompany payments from Traynor Williams Door Solutions Limited of £4,540, (received 2024: £55,100). The balance as at 31 August 2025 due to Traynor Williams Door Solutions Limited from Traynor Williams Ironmongery (Glasgow) Limited is £61,885.30 (2024: £57,345). Traynor Williams Ironmongery (Glasgow) Limited is a shareholder of Traynor William Door Solutions Limited, and Simon Traynor is a director of both companies.

During the year, the company entered into transactions with related parties in the normal course of business. At the year end, the company had an outstanding balance of £3,019 (2024: £nil ) payable to Traynor Williams Ironmongery Aberdeen Limited being a related party. The balances are unsecured, interest-free, and repayable on demand.

11. Ultimate controlling party

The parent Company of Traynor Williams Ironmongery (Glasgow) Limited is Traynor Williams Ironmongery Limited and its registered office is 3 Harmony Court, Loanbank Place, Glasgow, G51 3HN.