Transom Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC377774

Transom Limited

Filleted Unaudited Financial Statements

31 July 2025

Transom Limited

Financial Statements

Year ended 31 July 2025

Contents	Page

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Transom Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Transom Limited

Year ended 31 July 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Transom Limited for the year ended 31 July 2025, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Transom Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Transom Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Transom Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Transom Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Transom Limited. You consider that Transom Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Transom Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

GILLILAND & COMPANY Chartered Accountants

216 West George Street Glasgow G2 2PQ

16 July 2026

Transom Limited

Statement of Financial Position

31 July 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	1,679,922	1,708,240

Current assets

Stocks		1,769	1,685
Debtors	7	716,656	704,636
Cash at bank and in hand		40,785	76,117
		---------	---------
		759,210	782,438

Creditors: amounts falling due within one year	8	334,008	293,811
		---------	---------
Net current assets		425,202	488,627
		------------	------------
Total assets less current liabilities		2,105,124	2,196,867

Creditors: amounts falling due after more than one year	9	539,266	614,530

Provisions

Taxation including deferred tax	43,724	44,365
	------------	------------
Net assets	1,522,134	1,537,972
	------------	------------

Capital and reserves

Called up share capital	101	101
Share premium account	419,900	419,900
Profit and loss account	1,102,133	1,117,971
	------------	------------
Shareholders funds	1,522,134	1,537,972
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Transom Limited

Statement of Financial Position (continued)

31 July 2025

These financial statements were approved by the board of directors and authorised for issue on 16 July 2026 , and are signed on behalf of the board by:

Mr Christopher Rigby

Director

Company registration number: SC377774

Transom Limited

Notes to the Financial Statements

Year ended 31 July 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 46 Bon Accord Street, Aberdeen, AB11 6EL, Scotland.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change of value.

Going concern

The company is reliant on the support of the directors and other group entities in order to continue in operational existence and meet its liabilities as the fall due. The directors are satisfied that the group entities will continue to support the company and as such the going concern basis is appropriate for the preparation of the accounts.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Fixtures and fittings	-	20% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 15 (2024: 13 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 August 2024 and 31 July 2025	300,000
	---------
Amortisation
At 1 August 2024 and 31 July 2025	300,000
	---------
Carrying amount
At 31 July 2025	–
	---------
At 31 July 2024	–
	---------

6. Tangible assets

	Land and buildings	Fixtures and fittings	Total
	£	£	£
Cost
At 1 August 2024	2,054,005	88,713	2,142,718
Additions	–	8,140	8,140
	------------	--------	------------
At 31 July 2025	2,054,005	96,853	2,150,858
	------------	--------	------------
Depreciation
At 1 August 2024	357,109	77,369	434,478
Charge for the year	30,831	5,627	36,458
	------------	--------	------------
At 31 July 2025	387,940	82,996	470,936
	------------	--------	------------
Carrying amount
At 31 July 2025	1,666,065	13,857	1,679,922
	------------	--------	------------
At 31 July 2024	1,696,896	11,344	1,708,240
	------------	--------	------------

7. Debtors

	2025	2024
	£	£
Trade debtors	9,896	16,051
Prepayments and accrued income	10,417	17,756
Directors loan account	422,665	397,664
Other debtors	273,678	273,165
	---------	---------
	716,656	704,636
	---------	---------

The debtors above include the following amounts falling due after more than one year:

	2025	2024
	£	£
Trade debtors	113,430	–
	---------	----

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	60,403	59,118
Trade creditors	56,058	32,230
Accruals and deferred income	17,034	15,295
Corporation tax	121,323	129,246
Social security and other taxes	79,190	57,922
	---------	---------
	334,008	293,811
	---------	---------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	339,266	389,530
Other creditors	200,000	225,000
	---------	---------
	539,266	614,530
	---------	---------

10. Directors' advances, credits and guarantees

As at 31 July 2025 the company was owed £422,665 from the director (2024: £397,664). This loan is unsecured and has no fixed date of repayment.

11. Controlling party

The company was under the control of Mr R Bisset and Mr N Duncan during the current period.