Company No: SC214289 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	498,820		464,175
		498,820		464,175
Current assets
Stocks		575,620		529,802
Debtors	4	134,182		100,657
Cash at bank and in hand		17,798		30,635
		727,600		661,094
Creditors: amounts falling due within one year	5	( 583,381)		( 466,667)
Net current assets		144,219		194,427
Total assets less current liabilities		643,039		658,602
Creditors: amounts falling due after more than one year	6	( 241,462)		( 262,193)
Provision for liabilities		( 14,341)		( 18,636)
Net assets		387,236		377,773
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		387,136		377,673
Total shareholders' funds		387,236		377,773

For the financial year ending 31 January 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 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 James Rizza & Son Ltd (registered number: SC214289) were approved and authorised for issue by the Board of Directors on 02 June 2026. They were signed on its behalf by:

Donald John Morrison 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

James Rizza & Son Ltd (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 31 Steven Road, Huntly, AB54 8SX, Scotland, 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.

Turnover

Turnover represents amounts receivable from the sale and distribution of ice cream, and also Wiltshire Farm Foods products, net of VAT.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

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, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery	20 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	20 % reducing balance

Land is not depreciated.

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 Statement of Income and Retained Earnings 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 Statement of Income and Retained Earnings as described below.

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. Cost is calculated using the FIFO (first-in, first-out) method. 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 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 initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. 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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	41		43

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 February 2025	443,334		757,333		157,184		299,392		1,657,243
Additions	0		45,900		37,898		706		84,504
Disposals	0		( 45,995)		( 20,179)		( 739)		( 66,913)
At 31 January 2026	443,334		757,238		174,903		299,359		1,674,834
Accumulated depreciation
At 01 February 2025	174,098		698,825		128,670		191,475		1,193,068
Charge for the financial year	7,667		15,693		14,944		8,400		46,704
Disposals	0		( 43,674)		( 19,739)		( 345)		( 63,758)
At 31 January 2026	181,765		670,844		123,875		199,530		1,176,014
Net book value
At 31 January 2026	261,569		86,394		51,028		99,829		498,820
At 31 January 2025	269,236		58,508		28,514		107,917		464,175

4. Debtors

	2026		2025
	£		£
Trade debtors	90,378		71,814
Corporation tax	1,749		2,069
Other debtors	42,055		26,774
	134,182		100,657

5. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans and overdrafts	180,571		196,020
Trade creditors	235,843		224,318
Taxation and social security	70,794		22,898
Obligations under finance leases and hire purchase contracts	45,158		5,296
Other creditors	51,015		18,135
	583,381		466,667

£173,016 of the bank loans and overdraft balances are secured by standard security over certain heritable property and a floating charge over all assets and undertakings of the company.

Net obligations under hire purchase contracts are secured over the assets which the agreements relate to.

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

	2026		2025
	£		£
Bank loans	174,684		205,631
Obligations under finance leases and hire purchase contracts	12,792		0
Other creditors	53,986		56,562
	241,462		262,193

£174,684 of the bank loans and overdraft balances are secured by standard security over certain heritable property and a floating charge over all assets and undertakings of the company.

Net obligations under hire purchase contracts are secured over the assets which the agreements relate to.

7. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2026		2025
	£		£
within one year	30,019		40,604
between one and five years	0		30,021
Total future minimum lease payments under non-cancellable operating leases	30,019		70,625

9. Related party transactions

Transactions with the entity's directors

	2026		2025
	£		£
Amounts due (from)/to related parties - Key management personnel	(1,737)		8,377

The above balances are unsecured, interest free and have no fixed terms of repayment.

Advances

As at 1 February 2025 there was £nil due from directors. During the year there was advances of £31,806 and £25,955 was repaid. As at 31 January 2026 there was £5,851 due from directors.