REGISTERED NUMBER: SC651517 (Scotland)

Unaudited Financial Statements

for the Period 1 February 2025 to 31 October 2025

for

12t Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss R A Morgan

Miss E Cuddeford

REGISTERED OFFICE:

90 Brunswick Street

Edinburgh

EH7 5HU

REGISTERED NUMBER:

SC651517 (Scotland)

ACCOUNTANTS:

Cowan & Partners Limited

60 Constitution Street

Edinburgh

EH6 6RR

FIXED ASSETS

Intangible assets

4

12,000

14,000

Tangible assets

5

119,929

79,852

131,929

93,852

CURRENT ASSETS

Stocks

60,000

45,000

Debtors

6

7,448

55,973

Cash at bank

34,083

15,546

101,531

116,519

CREDITORS

Amounts falling due within one year

7

251,711

234,457

NET CURRENT LIABILITIES

(150,180

)

(117,938

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(18,251

)

(24,086

)

CREDITORS

Amounts falling due after more than one year

8

(22,738

)

(36,161

)

PROVISIONS FOR LIABILITIES

(29,982

)

(19,963

)

NET LIABILITIES

(70,971

)

(80,210

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(71,071

)

(80,310

)

(70,971

)

(80,210

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 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 5 June 2026 and were signed on its behalf by:

Miss R A Morgan - Director

1.	STATUTORY INFORMATION

12t 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The company has made a trading loss, with net current liabilities and an overall negative balance sheet. The directors have, however, confirmed that the company will continue to receive the support of the directors, until such time as profits are made and there are positive reserves. The directors will provide such assistance as may be required to enable the company to meet liabilities as they fall due. Accordingly, the directors believe it is appropriate that these accounts are prepared on a going concern basis.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax. The company's policy is to

recognise a sale when substantially all the risks and rewards in connection with the goods have been passed to the buyer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Improvements to property

-

5% on cost

Plant and machinery

-

20% on cost

Computer equipment

-

25% on cost

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation

Taxation for the period comprises current 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 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 period 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.

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 17 (2025 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2025

and 31 October 2025

20,000

AMORTISATION

At 1 February 2025

6,000

Charge for period

2,000

At 31 October 2025

8,000

NET BOOK VALUE

At 31 October 2025

12,000

At 31 January 2025

14,000

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 February 2025

83,790

24,651

506

108,947

Additions

46,322

2,699

257

49,278

At 31 October 2025

130,112

27,350

763

158,225

DEPRECIATION

At 1 February 2025

10,564

18,112

419

29,095

Charge for period

6,505

2,588

108

9,201

At 31 October 2025

17,069

20,700

527

38,296

NET BOOK VALUE

At 31 October 2025

113,043

6,650

236

119,929

At 31 January 2025

73,226

6,539

87

79,852

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.1.25

£

£

Trade debtors

-

9,487

Amounts owed by participating interests

-

36,350

Other debtors

7,448

10,136

7,448

55,973

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.1.25

£

£

Bank loans and overdrafts

17,014

20,000

Amounts owed to participating interests

6,653

-

Taxation and social security

23,770

5,458

Other creditors

204,274

208,999

251,711

234,457

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.25

31.1.25

£

£

Bank loans

22,738

36,161