REGISTERED NUMBER: SC316253 (Scotland)

The Premium Bakery Limited

Unaudited Financial Statements

for the Year Ended 28 February 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P J Ford

Mrs E L Ford

Mr G T Ford

Ms M Hashem

SECRETARY:

Whitelaw Wells

REGISTERED OFFICE:

Unit 22

Mid Road Industrial Estate

Mid Road

Prestonpans

East Lothian

EH32 9ER

REGISTERED NUMBER:

SC316253 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

The Royal Bank of Scotland plc

Edinburgh West End Office

142-144 Princes Street

Edinburgh

EH2 4EQ

FIXED ASSETS

Tangible assets

4

517,334

555,841

Investments

5

8,040

8,040

Investment property

6

200,000

210,000

725,374

773,881

CURRENT ASSETS

Stocks

86,429

81,216

Debtors

7

290,794

298,903

Cash at bank

405

385

377,628

380,504

CREDITORS

Amounts falling due within one year

8

471,194

416,151

NET CURRENT LIABILITIES

(93,566

)

(35,647

)

TOTAL ASSETS LESS CURRENT LIABILITIES

631,808

738,234

CREDITORS

Amounts falling due after more than one year

9

(111,297

)

(169,565

)

PROVISIONS FOR LIABILITIES

(136,291

)

(147,969

)

NET ASSETS

384,220

420,700

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

12

48,254

55,754

Retained earnings

335,866

364,846

SHAREHOLDERS' FUNDS

384,220

420,700

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 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 18 June 2026 and were signed on its behalf by:

Mr P J Ford - Director

Mrs E L Ford - Director

Mr G T Ford - Director

Ms M Hashem - Director

1.	STATUTORY INFORMATION

The Premium Bakery 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 as modified by the revaluation of certain assets.

Turnover and revenue recognition

Turnover represents net invoiced sales of bakery products, excluding value added tax. Turnover is recognised when the products are supplied to the customer.

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.

Plant and machinery etc

-

25% on cost and 10% on cost

Investment property

Investment properties are shown at their open market value. The surplus or deficit arising from the revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal on an individual property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This is in accordance with FRS102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.

Stocks

Inventories are valued at the lower of cost and estimated selling price less cost to sell, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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 or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

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

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.

Valuation of investments

Investments in listed company shares are included at market value at the balance sheet date. Any gains or losses are recognised in the profit and loss for the period.

Other investments

Other investments are included at market value at the balance sheet date. Any gains or losses are recognised in the profit and loss for the period.

Provisions

Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2025 - 46 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2025

1,640,472

Additions

169,631

Disposals

(101,432

)

At 28 February 2026

1,708,671

DEPRECIATION

At 1 March 2025

1,084,631

Charge for year

203,887

Eliminated on disposal

(97,181

)

At 28 February 2026

1,191,337

NET BOOK VALUE

At 28 February 2026

517,334

At 28 February 2025

555,841

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

Plant and

machinery

etc

£

COST

At 1 March 2025

230,914

Additions

33,482

Transfer to ownership

(64,900

)

At 28 February 2026

199,496

DEPRECIATION

At 1 March 2025

96,608

Charge for year

52,945

Transfer to ownership

(64,900

)

At 28 February 2026

84,653

NET BOOK VALUE

At 28 February 2026

114,843

At 28 February 2025

134,306

5.	FIXED ASSET INVESTMENTS

2026

2025

£

£

Other investments not loans

8,040

8,040

Additional information is as follows:

Other

investments

£

COST

At 1 March 2025

and 28 February 2026

40

NET BOOK VALUE

At 28 February 2026

40

At 28 February 2025

40

Investments (neither listed nor unlisted) were as follows:

2026

2025

£

£

Archerfield debenture

8,000

8,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2025

210,000

Revaluations

(10,000

)

At 28 February 2026

200,000

NET BOOK VALUE

At 28 February 2026

200,000

At 28 February 2025

210,000

Fair value at 28 February 2026 is represented by:

£

Valuation in 2023

74,339

Valuation in 2026

(10,000

)

Cost

135,661

200,000

If investment properties had not been revalued they would have been included at the following historical cost:

2026

2025

£

£

Cost

135,661

135,661

The properties are shown at the directors' estimated valuation as at 28 February 2026. The directors are not professional valuers.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

197,697

284,721

Other debtors

93,097

14,182

290,794

298,903

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

190,999

119,685

Hire purchase contracts (see note 10)

42,504

51,875

Trade creditors

107,598

83,170

Taxation and social security

108,625

136,081

Other creditors

21,468

25,340

471,194

416,151

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

94,876

134,915

Hire purchase contracts (see note 10)

16,421

34,650

111,297

169,565

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2026

2025

£

£

Net obligations repayable:

Within one year

42,504

51,875

Between one and five years

16,421

34,650

58,925

86,525

Non-cancellable

operating leases

2026

2025

£

£

Within one year

115,263

123,338

Between one and five years

5,200

10,153

120,463

133,491

The rent is payable to the trustees of the Premium Roll Company Retirement Benefits Scheme. The directors are trustees of this scheme.

11.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank loans

135,433

179,888

The Royal Bank of Scotland plc have a Bond and Floating Charge over the assets of the company. The Royal Bank of Scotland has a standard security over one of the properties.

In addition, the directors of the company have granted a personal guarantee for £205,000 in respect of bank loans from The Royal Bank of Scotland PLC.

12.

RESERVES

Fair

value

reserve

£

At 1 March 2025

55,754

Transfer

(7,500

)

At 28 February 2026

48,254

The fair value reserve represents the net revaluation surplus on investment properties that is not readily distributable as realised earnings.

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2026 and 28 February 2025:

2026

2025

£

£

Mr P J Ford

Balance outstanding at start of year

-

(10,000

)

Amounts advanced

40,534

10,000

Amounts repaid

(5,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

35,534

-

Mrs E L Ford

Balance outstanding at start of year

-

(10,000

)

Amounts advanced

-

10,000

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

Mr G T Ford

Balance outstanding at start of year

-

-

Amounts advanced

46,443

-

Amounts repaid

(45,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,443

-

Ms M Hashem

Balance outstanding at start of year

-

26

Amounts repaid

-

(26

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

The directors' current accounts are unsecured and repayable on demand.

Interest is charged at 2.25% per annum up until 5 April 2025 and at 3.75% per annum thereafter.

Mr P J Ford repaid his balance in full by 17 April 2026.

Mr G T Ford repaid his balance in full by 18 June 2026.