REGISTERED NUMBER: SC066562 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Frank L. Johnston (Shetland) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

F L Johnston

P J Johnston

Miss C A Johnston

SECRETARY:

Miss C A Johnston

REGISTERED OFFICE:

Green Acres

Gott

Shetland

ZE2 9SG

REGISTERED NUMBER:

SC066562 (Scotland)

ACCOUNTANTS:

Mackay Johnson Ltd

2 North Ness Business Park

Lerwick

Shetland

ZE1 0LZ

FIXED ASSETS

Tangible assets

4

756,263

748,976

CURRENT ASSETS

Stocks

5

89,904

53,964

Debtors

6

285,350

329,932

Cash at bank

753,655

567,057

1,128,909

950,953

CREDITORS

Amounts falling due within one year

7

345,424

295,464

NET CURRENT ASSETS

783,485

655,489

TOTAL ASSETS LESS CURRENT LIABILITIES

1,539,748

1,404,465

PROVISIONS FOR LIABILITIES

186,169

184,162

NET ASSETS

1,353,579

1,220,303

CAPITAL AND RESERVES

Called up share capital

18,000

18,000

Retained earnings

1,335,579

1,202,303

SHAREHOLDERS' FUNDS

1,353,579

1,220,303

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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:

F L Johnston - Director

P J Johnston - Director

1.	STATUTORY INFORMATION

Frank L. Johnston (Shetland) 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.

Improvements to property

-

20% on cost

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

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.

Amounts recoverable on long term contracts

This is stated at valuations provided by independent quantity surveyors at, or not materially different from, the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2025

29,243

1,316,448

129,841

3,223

1,478,755

Additions

-

129,386

6,167

-

135,553

Disposals

-

(57,804

)

(26,325

)

-

(84,129

)

At 31 December 2025

29,243

1,388,030

109,683

3,223

1,530,179

DEPRECIATION

At 1 January 2025

29,243

628,791

68,979

2,766

729,779

Charge for year

-

100,263

14,204

155

114,622

Eliminated on disposal

-

(50,017

)

(20,468

)

-

(70,485

)

At 31 December 2025

29,243

679,037

62,715

2,921

773,916

NET BOOK VALUE

At 31 December 2025

-

708,993

46,968

302

756,263

At 31 December 2024

-

687,657

60,862

457

748,976

5.

STOCKS

31.12.25

31.12.24

£

£

Stocks

89,904

53,964

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

97,537

229,813

Other debtors

500

4,667

Amounts recoverable on long term contracts

20,015

47,860

Prepayments and accrued income

167,298

47,592

285,350

329,932

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

182,838

112,273

Tax

41,477

19,485

Social security and other taxes

11,136

6,705

VAT

13,984

36,199

Other creditors

4,978

71,749

Accrued expenses

91,011

49,053

345,424

295,464

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of the Financial Reporting Standard 102 "The financial reporting standard in the UK and Ireland", not to disclose related party transactions whereby they have occurred under normal market conditions.