REGISTERED NUMBER: SC232791 (Scotland)

Financial Statements for the Year Ended 30 September 2025

for

MGS Logistics Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M G Spence

D Spence

M J Barnes

SECRETARY:

M G Spence

REGISTERED OFFICE:

Roadside Croft

Findon

Aberdeen

AB12 4SA

REGISTERED NUMBER:

SC232791 (Scotland)

ACCOUNTANTS:

J M Taylor

5 Rubislaw Terrace

ABERDEEN

AB10 1XE

FIXED ASSETS

Tangible assets

4

1,053,386

1,278,716

CURRENT ASSETS

Stocks

5,000

5,000

Debtors

5

843,034

862,091

Cash at bank and in hand

70,290

797

918,324

867,888

CREDITORS

Amounts falling due within one year

6

1,551,189

1,495,230

NET CURRENT LIABILITIES

(632,865

)

(627,342

)

TOTAL ASSETS LESS CURRENT LIABILITIES

420,521

651,374

CREDITORS

Amounts falling due after more than one year

7

(217,724

)

(392,550

)

PROVISIONS FOR LIABILITIES

8

(7,285

)

(10,393

)

NET ASSETS

195,512

248,431

CAPITAL AND RESERVES

Called up share capital

9

10,000

10,000

Retained earnings

185,512

238,431

SHAREHOLDERS' FUNDS

195,512

248,431

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 profit or loss 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 22 June 2026 and were signed on its behalf by:

M G Spence - Director

1.	STATUTORY INFORMATION

MGS Logistics Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

10% on cost

Plant and machinery etc

-

50% on cost, 33% on cost, 33.33% on cost, 25% on cost, 20% on cost, 15% on cost, 10% on cost and Straight line over 8 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 profit or loss 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2024 - 32 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2024

119,663

4,330,961

4,450,624

Additions

4,296

36,000

40,296

Disposals

-

(79,950

)

(79,950

)

At 30 September 2025

123,959

4,287,011

4,410,970

DEPRECIATION

At 1 October 2024

112,196

3,059,712

3,171,908

Charge for year

2,000

263,626

265,626

Eliminated on disposal

-

(79,950

)

(79,950

)

At 30 September 2025

114,196

3,243,388

3,357,584

NET BOOK VALUE

At 30 September 2025

9,763

1,043,623

1,053,386

At 30 September 2024

7,467

1,271,249

1,278,716

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

£

£

Trade debtors

765,111

807,565

Other debtors

77,923

54,526

843,034

862,091

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

£

£

Bank loans and overdrafts

549,834

507,244

Hire purchase contracts

174,926

194,610

Trade creditors

199,262

283,624

Taxation and social security

141,297

112,224

Other creditors

485,870

397,528

1,551,189

1,495,230

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.25

30.9.24

£

£

Hire purchase contracts

217,724

392,550

8.	PROVISIONS FOR LIABILITIES

30.9.25

30.9.24

£

£

Deferred tax

7,285

10,393

Deferred

tax

£

Balance at 1 October 2024

10,393

Accelerated capital allowances

(3,108

)

Balance at 30 September 2025

7,285

9.	CALLED UP SHARE CAPITAL

3,800 Ordinary A shares @ £1

3,800 Ordinary B shares @ £1

1,200 Ordinary C shares @ £1

1,200 Ordinary D shares @ £1

10.	OTHER FINANCIAL COMMITMENTS

The factoring facility is secured by a floating charge over all the assets of the company.

11.	RELATED PARTY DISCLOSURES

During the year the company was advanced £74,681 and has repaid net loans of £36,653 to a shareholder. The balance owed to the shareholder as at 30 September 2025 is £301,426 (2024 - £263,398).