REGISTERED NUMBER: SC049515 (Scotland)

Unaudited Financial Statements for the Year Ended 30 September 2025

for

Bernard Corrigan Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B G Corrigan

S Corrigan

S P Corrigan

SECRETARY:

B G Corrigan

REGISTERED OFFICE:

1 Keppochhill Place

Glasgow

G21 1HS

REGISTERED NUMBER:

SC049515 (Scotland)

ACCOUNTANTS:

McLay McAlister & McGibbon LLP

Chartered Accountants

145 St Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Tangible assets

4

1,053,365

1,152,621

Investments

5

68,381

62,054

1,121,746

1,214,675

CURRENT ASSETS

Stocks

179,602

161,329

Debtors

6

1,132,407

865,104

Cash at bank

524,097

459,165

1,836,106

1,485,598

CREDITORS

Amounts falling due within one year

7

(1,413,737

)

(1,189,056

)

NET CURRENT ASSETS

422,369

296,542

TOTAL ASSETS LESS CURRENT LIABILITIES

1,544,115

1,511,217

CREDITORS

Amounts falling due after more than one year

8

(855,458

)

(943,936

)

PROVISIONS FOR LIABILITIES

(66,841

)

(88,523

)

NET ASSETS

621,816

478,758

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Fair value reserve

11

1,192

(4,737

)

Retained earnings

619,624

482,495

SHAREHOLDERS' FUNDS

621,816

478,758

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 1 July 2026 and were signed on its behalf by:

B G Corrigan - Director

1.	STATUTORY INFORMATION

Bernard Corrigan 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 as modified by the revaluation of certain assets.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on reducing balance and 10% on reducing balance

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

Financial instruments

Debtors

Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise cash in hand and bank overdrafts. In the balance sheet bank overdrafts are shown in creditors amounts falling due within one year.

Creditors

Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

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

Assets obtained under hire purchase contracts are capitalised in the balance sheet, and are depreciated over their estimated useful lives.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

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.

Investments

Listed investments are held at fair value.

Operating leases

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2024 - 36 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2024

791,717

850,087

1,641,804

Additions

-

15,288

15,288

Disposals

-

(38,000

)

(38,000

)

At 30 September 2025

791,717

827,375

1,619,092

DEPRECIATION

At 1 October 2024

15,834

473,349

489,183

Charge for year

15,834

78,225

94,059

Eliminated on disposal

-

(17,515

)

(17,515

)

At 30 September 2025

31,668

534,059

565,727

NET BOOK VALUE

At 30 September 2025

760,049

293,316

1,053,365

At 30 September 2024

775,883

376,738

1,152,621

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 October 2024

177,340

Disposals

(38,000

)

At 30 September 2025

139,340

DEPRECIATION

At 1 October 2024

81,741

Charge for year

18,778

Eliminated on disposal

(17,515

)

At 30 September 2025

83,004

NET BOOK VALUE

At 30 September 2025

56,336

At 30 September 2024

95,599

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST OR VALUATION

At 1 October 2024

46,922

15,132

62,054

Revaluations

-

6,327

6,327

At 30 September 2025

46,922

21,459

68,381

NET BOOK VALUE

At 30 September 2025

46,922

21,459

68,381

At 30 September 2024

46,922

15,132

62,054

Other investments have a historical cost of £19,869 (2024: £19,869).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

£

£

Trade debtors

1,010,957

788,505

Other debtors

121,450

76,599

1,132,407

865,104

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

£

£

Bank loans and overdrafts

46,331

145,226

Hire purchase contracts (see note 9)

26,540

31,977

Trade creditors

611,242

569,089

Amounts owed to group undertakings

25,351

25,351

Taxation and social security

230,463

174,889

Other creditors

473,810

242,524

1,413,737

1,189,056

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.25

30.9.24

£

£

Bank loans

831,194

877,525

Hire purchase contracts (see note 9)

24,264

66,411

855,458

943,936

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

759,836

759,836

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase

contracts

30.9.25

30.9.24

£

£

Net obligations repayable:

Within one year

26,540

31,977

Between one and five years

24,264

66,411

50,804

98,388

At the year end the company had £402,040 (2024: £202,700) outstanding on non cancellable operating leases.

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.25

30.9.24

£

£

Bank loans

877,525

1,022,751

Hire purchase contracts

50,804

98,388

928,329

1,121,139

The loan is secured by floating charge over the company assets.

Hire purchase contracts are secured over the asset to which they relate.

11.

RESERVES

Fair

value

reserve

£

At 1 October 2024

(4,737

)

Fair value

6,327

Deferred tax

(398

)

At 30 September 2025

1,192