REGISTERED NUMBER: SC354581 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Scottish Building Federation

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Investments

4

175,871

155,762

CURRENT ASSETS

Debtors

5

4,487

6,378

Cash at bank

440,193

524,357

444,680

530,735

CREDITORS

Amounts falling due within one year

6

(233,966

)

(299,920

)

NET CURRENT ASSETS

210,714

230,815

TOTAL ASSETS LESS CURRENT LIABILITIES

386,585

386,577

CREDITORS

Amounts falling due after more than one year

7

-

(5,664

)

NET ASSETS

386,585

380,913

RESERVES

Income and expenditure account

386,585

380,913

386,585

380,913

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

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

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 28 April 2026 and were signed on its behalf by:

Mr P R Mitchell - Director

1.	STATUTORY INFORMATION

Scottish Building Federation is a private company limited by guarantee domiciled in Scotland, registration number SC354581. The registered office is Unit 5 Gateway Business Park, Beancross Road, Grangemouth, FK3 8WX.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 as modified by the revaluation of certain assets.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors are of the opinion that it remains appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents net invoiced sales of services in respect of federation membership and training, excluding value added tax. Income is recognised at the point at which the service is complete, with proportional adjustment depending on cut-off at the year-end.

Fixed asset investments

Interests are initially measured at transaction price excluding transaction costs, and are subsequently measured at market value at each reporting date. Changes in fair value are recognised in the profit or loss. Transaction costs are expensed to the profit or loss as incurred.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, cash held as part of the investment portfolio and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit 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.

The company has now settled its defined benefit pension scheme using a buy-in process to transfer the risks to an insurer by paying the insurer a premium.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 January 2025

155,762

Additions

166,376

Disposals

(160,052

)

Revaluations

9,226

Dividends received

4,559

At 31 December 2025

175,871

NET BOOK VALUE

At 31 December 2025

175,871

At 31 December 2024

155,762

The portfolio valued at £175,871 at the year-end (2024: £155,762) has a historical cost of £140,114 (2024: £133,790).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Other debtors

4,487

6,378

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans and overdrafts

5,282

10,000

Trade creditors

32,288

2,513

Taxation and social security

29,060

46,352

Other creditors

167,336

241,055

233,966

299,920

The unsecured Bounce Back loan of £50,000 was drawn down in June 2020 and is payable over 5 years commencing June 2021 and ending May 2026.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans

-

5,664

8.	LIMITED BY GUARANTEE

Scottish Building Federation is a company limited by guarantee. The members have agreed to contribute £1 in the event of Scottish Building Federation being unable to meet its debts.