Company registration number SC030931 (Scotland)
JOHN GIRVAN & SONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
PAGES FOR FILING WITH REGISTRAR
JOHN GIRVAN & SONS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
JOHN GIRVAN & SONS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 1 -
2026
2025
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,381
1,733
Investment property
4
1,422,000
1,260,000
1,423,381
1,261,733
Current assets
Debtors
5
4,585
881
Cash at bank and in hand
51,434
58,194
56,019
59,075
Creditors: amounts falling due within one year
6
(295,967)
(156,532)
Net current liabilities
(239,948)
(97,457)
Total assets less current liabilities
1,183,433
1,164,276
Creditors: amounts falling due after more than one year
7
(113,380)
(116,371)
Provisions for liabilities
(345)
(329)
Net assets
1,069,708
1,047,576
Capital and reserves
Called up share capital
22,000
22,000
Share premium account
38,000
38,000
Fair value reserve
597,020
597,020
Profit and loss reserves
412,688
390,556
Total equity
1,069,708
1,047,576

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

JOHN GIRVAN & SONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2026
31 March 2026
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 23 July 2026 and are signed on its behalf by:
Mr H Girvan
Director
Company Registration No. SC030931
JOHN GIRVAN & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 3 -
1
Accounting policies
Company information

John Girvan & Sons Limited is a private company limited by shares incorporated in Scotland. The registered office is 26 Wellington Square, Ayr, Ayrshire, United Kingdom, KA7 1HH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Prior period error

A restatement of a prior period error is present within the accounts. This has arisen from an adjustment to fair value of investment property held.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown including VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% on reducing balance
Motor vehicles
25% on reducing balance

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.

1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

JOHN GIRVAN & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 4 -
1.6
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 liabilities.

1.7
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
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 cost of 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
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
3
3
JOHN GIRVAN & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 5 -
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2025 and 31 March 2026
7,223
8,002
15,225
Depreciation and impairment
At 1 April 2025
5,597
7,895
13,492
Depreciation charged in the year
325
27
352
At 31 March 2026
5,922
7,922
13,844
Carrying amount
At 31 March 2026
1,301
80
1,381
At 31 March 2025
1,626
107
1,733
4
Investment property
2026
£
Fair value
At 1 April 2025
1,260,000
Additions
162,000
At 31 March 2026
1,422,000

Investment property comprises various properties. The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
4,585
881
6
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans
2,992
2,918
Trade creditors
1,259
1,032
Corporation tax
10,227
7,352
Other taxation and social security
123
122
Other creditors
281,366
145,108
295,967
156,532
JOHN GIRVAN & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 6 -
7
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans and overdrafts
8
113,380
116,371
8
Loans and overdrafts
2026
2025
£
£
Bank loans
116,372
119,289
Other loans
273,887
135,524
390,259
254,813
Payable within one year
276,879
138,442
Payable after one year
113,380
116,371

Bank of Scotland holds a Standard Security over the investment property at 66 Fort Street, Ayr, KA7 1EH.

Aldermore Bank PLC holds a Standard Security, that contains a negative pledge, over the investment property at 38 Links Road, Prestwick, KA9 1QG.

9
Prior period adjustment
Reconciliation of changes in equity
1 April
31 March
2024
2025
£
£
Adjustments to prior year
Effect of change in error
-
(60,000)
Equity as previously reported
1,098,896
1,107,576
Equity as adjusted
1,098,896
1,047,576
Analysis of the effect upon equity
Profit and loss reserves
-
(60,000)
Notes to reconciliation

A prior period adjustment has been made to correct both the value of investment property and profit reported. The property value was previously overstated and the fair value adjustment had not been correctly adjusted in the accounts.

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