Company registration number 01914167 (England and Wales)
SCOTT-OSBORN LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
SCOTT-OSBORN LIMITED
COMPANY INFORMATION
Directors
Mr J F Scott
Mr K Culverhouse
Company number
01914167
Registered office
Create Business Hub
5 Rayleigh Road
Shenfield
Brentwood
Essex
England
CM13 1AB
Auditor
Xeinadin Audit Limited
249 Cranbrook Road
Ilford
Essex
IG1 4TG
Accountants
Xeinadin South East Limited
Create Business Hub
5 Rayleigh Road
Shenfield
Brentwood
Essex
England
CM13 1AB
SCOTT-OSBORN LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 7
Profit and loss account
8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Statement of cash flows
12
Notes to the financial statements
13 - 23
SCOTT-OSBORN LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 1 -

The directors present the strategic report for the year ended 30 September 2025.

Review of the business

The company's goal is to build up a growing successful business recognised as valuable and reliable by all

stakeholders. The company directors are confident of increased turnover and profitability in the future.

The key financial measures considered by the directors to gauge performance of the company are turnover and

earnings before interest, tax, depreciation and amortisation. The company made a pre-tax profit of £678,769.

The results for the period and the financial position at the period end were considered satisfactory and expect

continue growth in the foreseeable future.

Principal risks and uncertainties

There are number of risks and uncertainties which could impact the performance of the company. The company

operates robust risk management processes which identify risks and uncertainties and evaluates mitigation

opportunities and solutions.

The management follow a continuous review of the performance of the company through monthly senior

management meetings. Action plans are developed and reviewed on an ongoing basis. The key risks are

principally the competitiveness of the UK market. Sales opportunities are continually evaluated to

the current market and economic climate

Key performance indicators

The management team analyse various key performance indicators as part of their overall strategic review but

have identified the following as being particularly important.

Sales performance versus main competitors, sales versus budget and prior year and quality statistics.

On behalf of the board

Mr J F Scott
Director
30 June 2026
SCOTT-OSBORN LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 30 September 2025.

Principal activities

The principal activity of the company continued to be that of building refurbishment contractors.

Results and dividends

DIVIDENDS

Interim dividends per share were paid as follows:

Ordinary £1 shares |  | £996,337
Ordinary 'B' £1 shares |  | £9,059
Ordinary 'C' £1 shares |  | £213,679

The directors recommend that no final dividends be paid.

The total distribution of dividends for the year ended 30 September 202 5 will be £1,219,075.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr J F Scott
Mr N Scott
(Resigned 1 October 2025)
Mr K Culverhouse
Auditor

The auditors, Xeinadin Audit Ltd, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr J F Scott
Director
30 June 2026
SCOTT-OSBORN LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SCOTT-OSBORN LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF SCOTT-OSBORN LIMITED
- 4 -
Opinion

We have audited the financial statements of Scott-Osborn Limited (the 'company') for the year ended 30 September 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 September 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

SCOTT-OSBORN LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF SCOTT-OSBORN LIMITED (CONTINUED)
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

SCOTT-OSBORN LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF SCOTT-OSBORN LIMITED (CONTINUED)
- 6 -
Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities including fraud and non-compliance with laws and regulations we have considered the following:

- The nature of the industry and sector, control environment and business performance including the company's remuneration policies, key drivers for key management personnel and performance targets.

- Results of the enquiries of management about their own identification and assessment of the risks of irregularities.

- Any matters we have identified having obtained and reviewed the company's documentation of their policies and procedures.

- Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance.

- Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud.

- The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.

- The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: timing of recognition of income and valuation of work in progress.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included Companies Act, environment laws, employment law, health and safety, pension and tax legislation.

In addition, we considered provision of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a substantial penalty.

Audit response to risk identified

Our procedures to respond to risks identified includes the following:

- Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements.

- Enquiring of management concerning actual and potential litigation and claims.

- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.

- Reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC.

- In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments, assessing whether the judgements made in making accounting estimates are indicative of a potential bias, and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations, potential fraud risk to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

SCOTT-OSBORN LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF SCOTT-OSBORN LIMITED (CONTINUED)
- 7 -

Use of our report

This report is made solely to the company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's member those matters we are required to state to the member in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's member, for our audit work, for this report, or for the opinions we have formed.

Barry Leibovitch FCA (Senior Statutory Auditor)
For and on behalf of Xeinadin Audit Limited, Statutory Auditor
Chartered Accountants
249 Cranbrook Road
Ilford
Essex
IG1 4TG
30 June 2026
SCOTT-OSBORN LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 8 -
2025
2024
Notes
£
£
Turnover
2
28,250,230
25,596,701
Cost of sales
(25,221,941)
(22,666,250)
Gross profit
3,028,289
2,930,451
Administrative expenses
(2,403,451)
(2,669,182)
Other operating income
6,353
-
0
Operating profit
3
631,191
261,269
Interest receivable and similar income
7
50,481
56,781
Interest payable and similar expenses
8
(2,903)
(4,695)
Profit before taxation
678,769
313,355
Tax on profit
9
(49,442)
178,079
Profit for the financial year
629,327
491,434

The profit and loss account has been prepared on the basis that all operations are continuing operations.

SCOTT-OSBORN LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 9 -
2025
2024
£
£
Profit for the year
629,327
491,434
Other comprehensive income
-
-
Total comprehensive income for the year
629,327
491,434
SCOTT-OSBORN LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
11
80,592
84,408
Tangible assets
12
173,138
204,117
253,730
288,525
Current assets
Stocks
14
3,497,659
3,544,714
Debtors
15
3,662,905
3,458,962
Cash at bank and in hand
2,732,011
2,644,713
9,892,575
9,648,389
Creditors: amounts falling due within one year
16
(4,799,120)
(3,992,853)
Net current assets
5,093,455
5,655,536
Total assets less current liabilities
5,347,185
5,944,061
Provisions for liabilities
Deferred tax liability
18
33,625
40,753
(33,625)
(40,753)
Net assets
5,313,560
5,903,308
Capital and reserves
Called up share capital
20
1,101
1,101
Profit and loss reserves
21
5,312,459
5,902,207
Total equity
5,313,560
5,903,308

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 30 June 2026 and are signed on its behalf by:
Mr J F Scott
Director
Company registration number 01914167 (England and Wales)
SCOTT-OSBORN LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 11 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 October 2023
1,101
5,701,576
5,702,677
Year ended 30 September 2024:
Profit and total comprehensive income
-
491,434
491,434
Dividends
10
-
(290,803)
(290,803)
Balance at 30 September 2024
1,101
5,902,207
5,903,308
Year ended 30 September 2025:
Profit and total comprehensive income
-
629,327
629,327
Dividends
10
-
(1,219,075)
(1,219,075)
Balance at 30 September 2025
1,101
5,312,459
5,313,560
SCOTT-OSBORN LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 12 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
25
1,589,484
(1,127,139)
Interest paid
(2,903)
(4,695)
Income taxes paid
(121,098)
(268,619)
Net cash inflow/(outflow) from operating activities
1,465,483
(1,400,453)
Investing activities
Purchase of tangible fixed assets
(54,674)
(24,476)
Proceeds from disposal of tangible fixed assets
14,000
-
0
Repayment of loans
(120,000)
-
0
Interest received
50,481
56,781
Net cash (used in)/generated from investing activities
(110,193)
32,305
Financing activities
Payment of finance leases obligations
(48,917)
(17,717)
Dividends paid
(1,219,075)
(290,803)
Net cash used in financing activities
(1,267,992)
(308,520)
Net increase/(decrease) in cash and cash equivalents
87,298
(1,676,668)
Cash and cash equivalents at beginning of year
2,644,713
4,321,481
Cash and cash equivalents at end of year
2,732,011
2,644,813
SCOTT-OSBORN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 13 -
1
Accounting policies
Company information

Scott Osborn Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

1.1
Basis of preparation

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.

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, The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Development costs
straight line over 25 years
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:

Fixtures and fittings
25% on reducing balance
Computers
33% on cost
Motor vehicles
25% on reducing balance
SCOTT-OSBORN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 14 -

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
Stocks

Stock is valued at the lower of cost and net realisable value.

1.6
Financial instruments
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.7
Taxation

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

SCOTT-OSBORN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 15 -
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
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

1.9
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Sales
28,250,230
25,596,701
SCOTT-OSBORN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2
Turnover and other revenue
(Continued)
- 16 -
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
28,250,230
25,596,701
2025
2024
£
£
Other revenue
Interest income
50,481
56,781
3
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Depreciation of tangible fixed assets
72,153
81,011
Profit on disposal of tangible fixed assets
(500)
-
Amortisation of intangible assets
3,816
3,816
Operating lease charges
86,393
90,619
4
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
16,000
13,500
5
Employees

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

2025
2024
Number
Number
Production
4
5
Administration
21
23
Total
25
28
SCOTT-OSBORN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
5
Employees
(Continued)
- 17 -

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,262,337
1,517,412
Social security costs
147,997
180,736
Pension costs
35,749
39,177
1,446,083
1,737,325
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
72,000
72,000
Company pension contributions to defined contribution schemes
5,040
5,009
77,040
77,009
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
46,310
52,294
Other interest income
4,171
4,487
Total income
50,481
56,781
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
46,310
52,294
8
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Other interest on financial liabilities
14
-
0
Other finance costs:
Interest on finance leases and hire purchase contracts
2,889
4,695
2,903
4,695
SCOTT-OSBORN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 18 -
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
56,570
121,098
Other taxes
-
0
(285,370)
Total current tax
56,570
(164,272)
Deferred tax
Origination and reversal of timing differences
(7,128)
(13,477)
Adjustment in respect of prior periods
-
0
(330)
Total deferred tax
(7,128)
(13,807)
Total tax charge/(credit)
49,442
(178,079)

The actual charge/(credit) for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
678,769
313,355
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
169,692
78,339
Tax effect of expenses that are not deductible in determining taxable profit
39,896
29,034
Tax effect of income not taxable in determining taxable profit
(125)
-
0
Permanent capital allowances in excess of depreciation
8,207
13,478
Research and development tax credit
-
0
(285,370)
Under/(over) provided in prior years
(161,100)
(83)
Deferred tax adjustments in respect of prior years
(7,128)
(13,477)
Taxation charge/(credit) for the year
49,442
(178,079)
SCOTT-OSBORN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 19 -
10
Dividends
2025
2024
2025
2024
Per share
Per share
Total
Total
£
£
£
£
Ordinary
Interim paid
996.34
154.80
996,337
154,803
Ordinary B
Interim paid
90.59
-
0
9,059
-
0
Ordinary C
Interim paid
213,679.00
136,000.00
213,679
136,000
Total dividends
Interim paid
1,219,075
290,803
11
Intangible fixed assets
Development costs
£
Cost
At 1 October 2024 and 30 September 2025
95,400
Amortisation and impairment
At 1 October 2024
10,992
Amortisation charged for the year
3,816
At 30 September 2025
14,808
Carrying amount
At 30 September 2025
80,592
At 30 September 2024
84,408
SCOTT-OSBORN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 20 -
12
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2024
249,910
119,612
208,894
578,416
Additions
1,319
20,257
33,098
54,674
Disposals
-
0
-
0
(24,000)
(24,000)
At 30 September 2025
251,229
139,869
217,992
609,090
Depreciation and impairment
At 1 October 2024
132,780
103,844
137,675
374,299
Depreciation charged in the year
29,612
19,835
22,706
72,153
Eliminated in respect of disposals
-
0
-
0
(10,500)
(10,500)
At 30 September 2025
162,392
123,679
149,881
435,952
Carrying amount
At 30 September 2025
88,837
16,190
68,111
173,138
At 30 September 2024
117,130
15,768
71,219
204,117
13
Financial instruments
2025
2024
£
£
Carrying amount of financial assets include:
Instruments measured at fair value through profit or loss
5,819,134
5,871,548
Carrying amount of financial liabilities include:
Measured at fair value through profit or loss
- Non-derivatives that are not part of a trading portfolio
(3,686,078)
(3,172,614)
14
Stocks
2025
2024
£
£
Work in progress
3,208,137
3,255,192
Finished goods and goods for resale
289,522
289,522
3,497,659
3,544,714
SCOTT-OSBORN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 21 -
15
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
3,052,407
3,211,049
Corporation tax recoverable
161,100
-
0
Other debtors
172,510
15,786
Prepayments and accrued income
276,888
232,127
3,662,905
3,458,962
16
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Obligations under finance leases
17
-
0
48,917
Trade creditors
3,638,335
2,840,550
Corporation tax
217,670
121,098
Other taxation and social security
895,372
669,141
Other creditors
25,243
112,636
Accruals and deferred income
22,500
200,511
4,799,120
3,992,853

The bank loans and overdrafts are secured by a fixed and floating charge over all the assets of the company.

17
Finance lease obligations
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
-
0
48,917

The bank holds a debenture over all monies and all liabilities owed to the bank now or at any time.

The motor vehicle is secured under the hire purchase contract.

18
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
33,625
40,753
SCOTT-OSBORN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
18
Deferred taxation
(Continued)
- 22 -
2025
Movements in the year:
£
Liability at 1 October 2024
40,753
Credit to profit or loss
(7,128)
Liability at 30 September 2025
33,625

The deferred tax liability set out above is expected to reverse and relates to accelerated capital allowances that are expected to mature.

19
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
35,749
39,177

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

20
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1,000
1,000
1,000
1,000
Ordinary B of £1 each
100
100
100
100
Ordinary C of £1 each
1
1
1
1
1,101
1,101
1,101
1,101
21
Profit and loss reserves
2025
2024
£
£
At the beginning of the year
5,902,207
5,701,576
Adjusted balance
5,902,207
5,701,576
Profit for the year
629,327
491,434
Dividends declared and paid in the year
(1,219,075)
(290,803)
At the end of the year
5,312,459
5,902,207
SCOTT-OSBORN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 23 -
22
Related party transactions

As at 30th September 2025 the company is owed £169,239 (2024: £240,172) by Bornso LLP in which John Scott, Nicholas Scott and Kevin Culverhouse are the partner.

During the year the company paid rent and service charges of £50,063 to Bornso LLP

23
Directors' transactions

Dividends totalling £853,474 (2024 - £290,803) were paid in the year in respect of shares held by the company's directors.

Mr John Fraser Scott £639,795

Mr Kevin Culverhouse £213,679

24
Ultimate controlling party

Throughout the year, the company was controlled by John Scott and Nicholas Scott.

25
Cash generated from/(absorbed by) operations
2025
2024
£
£
Profit after taxation
629,327
491,434
Adjustments for:
Taxation charged/(credited)
49,442
(178,079)
Finance costs
2,903
4,695
Investment income
(50,481)
(56,781)
Gain on disposal of tangible fixed assets
(500)
-
Amortisation and impairment of intangible assets
3,816
3,816
Depreciation and impairment of tangible fixed assets
72,153
81,011
Movements in working capital:
Decrease/(increase) in stocks
47,055
(620,863)
Decrease in debtors
77,157
516,838
Increase/(decrease) in creditors
758,612
(1,369,210)
Cash generated from/(absorbed by) operations
1,589,484
(1,127,139)
26
Analysis of changes in net funds
1 October 2024
Cash flows
30 September 2025
£
£
£
Cash and cash equivalents
2,644,713
87,298
2,732,011
Lease liabilities
(48,917)
48,917
-
2,595,796
136,215
2,732,011
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