Just Rigging & Inspections Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Just Rigging & Inspections Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC471185 . The registered office is Exchange Tower, 19 Canning Street, Edinburgh, EH3 8EH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible asset is amortised to the profit and loss account over its estimated economic life on the following bases:

Software 20% Straight line method

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	15% and 25% Straight line method
Motor Vehicles	33.33% Straight line method
Fixtures & Fittings	15% Straight line method
Computer Equipment	20% Straight line method

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.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is ary 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.

2.5. Leasing and Hire Purchase Contracts

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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Just Rigging & Inspections Ltd

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2026

2.6. Financial Instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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 valuc ofthe future receipts discounted at a markel rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification offinancial liabilities

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 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 finaneing 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.

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 current liabilitics.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Just Rigging & Inspections Ltd

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2026

2.7. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost1of o stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

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

2.9. Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.10. Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be re evant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2025: 4)

4. Intangible Assets

	Other
	£
Cost
As at 1 March 2025	1,270

As at 28 February 2026	1,270

Amortisation
As at 1 March 2025	1,059
Provided during the period	54

As at 28 February 2026	1,113

...CONTINUED

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Just Rigging & Inspections Ltd

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2026

Net Book Value
As at 28 February 2026	157

As at 1 March 2025	211

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 March 2025	40,682	44,961	1,657	20,217	107,517
Additions	62,046	-	-	2,457	64,503
Disposals	(12,700 )	-	-	-	(12,700 )

As at 28 February 2026	90,028	44,961	1,657	22,674	159,320

Depreciation
As at 1 March 2025	25,321	27,778	1,355	19,714	74,168
Provided during the period	13,912	8,247	114	491	22,764
Disposals	(6,879 )	-	-	-	(6,879 )

As at 28 February 2026	32,354	36,025	1,469	20,205	90,053

Net Book Value
As at 28 February 2026	57,674	8,936	188	2,469	69,267

As at 1 March 2025	15,361	17,183	302	503	33,349

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	56,985	65,057
Prepayments and accrued income	10,368	12,467
Corporation tax recoverable assets	-	516
Director's loan account	5,616	-

	72,969	78,040

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	53,310	45,943
Bank loans and overdrafts	863	4,140
Corporation tax	27,120	21,705
Other taxes and social security	3,151	21,136
VAT	16,836	-
Other creditors	1,133	2,498
Accruals and deferred income	-	1,546

	102,413	96,968

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Just Rigging & Inspections Ltd

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2026

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Bank loans	-	807

9. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	100	100

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 March 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 28 February 2026
	£	£	£	£	£
Mr Daniel Holme	(2,074 )	43,914	(36,224 )	-	5,616

The above loan is unsecured, interest free and repayable on demand.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		157		211
Tangible Assets	5		69,267		33,349

			69,424		33,560
CURRENT ASSETS
Debtors	6	72,969		78,040
Cash at bank and in hand		86,202		91,442

		159,171		169,482
Creditors: Amounts Falling Due Within One Year	7	(102,413 )		(96,968 )

NET CURRENT ASSETS (LIABILITIES)			56,758		72,514

TOTAL ASSETS LESS CURRENT LIABILITIES			126,182		106,074

Creditors: Amounts Falling Due After More Than One Year	8		-		(807 )

NET ASSETS			126,182		105,267

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			126,082		105,167

SHAREHOLDERS' FUNDS			126,182		105,267