SKF Express Ltd

	Page
Accountants' Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—8

Report to the director on the preparation of the unaudited statutory accounts of SKF Express Ltd for the year ended 31 March 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SKF Express Ltd which comprise the Profit and Loss Account, the Balance Sheet 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 the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made to the director of SKF Express Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of SKF Express Ltd and state those matters that we have agreed to state to the director of SKF Express Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SKF Express Ltd and its director as a body for our work or for this report.

It is your duty to ensure that SKF Express Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of SKF Express Ltd . You consider that SKF Express Ltd 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 accounts of SKF Express Ltd . 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 financial statements.

27 July 2026

Nuvo Scotland Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeen

AB12 4XX

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SKF Express Ltd

Balance Sheet

As At 31 March 2026

Balance Sheet

Registered number: SC485101

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		7,165		-
Tangible Assets	5		234,156		170,621

			241,321		170,621
CURRENT ASSETS
Debtors	6	304,802		201,883
Cash at bank and in hand		540,930		495,446

		845,732		697,329
Creditors: Amounts Falling Due Within One Year	7	(191,407 )		(154,721 )

NET CURRENT ASSETS (LIABILITIES)			654,325		542,608

TOTAL ASSETS LESS CURRENT LIABILITIES			895,646		713,229

Creditors: Amounts Falling Due After More Than One Year	8		(61,964 )		(43,172 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(58,539 )		(42,656 )

NET ASSETS			775,143		627,401

CAPITAL AND RESERVES
Called up share capital			1		1
Profit and Loss Account			775,142		627,400

SHAREHOLDERS' FUNDS			775,143		627,401

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SKF Express Ltd

Balance Sheet (continued)

As At 31 March 2026

For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

The financial statements were approved by the board of directors on 27 July 2026 and were signed on its behalf by:

Miss S Flynn

Director

The notes on pages 4 to 8 form part of these financial statements.

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SKF Express Ltd

Notes to the Financial Statements

For The Year Ended 31 March 2026

Notes to the Financial Statements

1. General Information

SKF Express Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC485101 . The registered office is Unit 18, Robert Leonard Centre, Howe Moss Drive, Dyce, Aberdeen, AB21 0GG.

The presentation currency of the financial statements is the Pound Sterling (£).

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Significant judgements and estimations

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are software development costs. It is amortised to profit and loss account over its estimated economic life of 5 years.

2.5. Tangible Fixed Assets and Depreciation

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Assets held under finance leases are depreciated in the same way as owned assets.

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% on cost
Motor Vehicles	25% on cost
Fixtures & Fittings	33% on cost
Computer Equipment	33% on cost

2.6. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

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SKF Express Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.7. Financial Instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances are measured at transaction price including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans payable within one year are not amortised and is recognised at transaction price.

Debt instruments are initially recognised at transaction price plus transaction cost and subsequently carried at amortised cost using the effective interest rate method.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

2.8. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.9. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 11 (2025: 10)

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SKF Express Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

4. Intangible Assets

	Software Development
	£
Cost
As at 1 April 2025	-
Additions	7,900

As at 31 March 2026	7,900

Amortisation
As at 1 April 2025	-
Provided during the period	735

As at 31 March 2026	735

Net Book Value
As at 31 March 2026	7,165

As at 1 April 2025	-

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2025	7,500	373,308	1,133	7,555	389,496
Additions	-	131,491	458	3,486	135,435
Disposals	(2,500 )	(63,481 )	-	(1,715 )	(67,696 )

As at 31 March 2026	5,000	441,318	1,591	9,326	457,235

Depreciation
As at 1 April 2025	5,310	207,187	812	5,566	218,875
Provided during the period	730	69,118	333	1,631	71,812
Disposals	(2,500 )	(63,481 )	-	(1,627 )	(67,608 )

As at 31 March 2026	3,540	212,824	1,145	5,570	223,079

Net Book Value
As at 31 March 2026	1,460	228,494	446	3,756	234,156

As at 1 April 2025	2,190	166,121	321	1,989	170,621

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2026	2025
	£	£
Motor Vehicles	124,496	68,560

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SKF Express Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	193,256	174,319
Prepayments and accrued income	46,953	442
Other debtors	16,299	6,844
Director's loan account	48,294	20,278

	304,802	201,883

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	44,233	19,717
Trade creditors	37,367	31,441
Bank loans and overdrafts	3,225	12,709
Corporation tax	72,938	57,245
VAT	23,843	24,646
Other creditors	1,201	1,710
PAYE payable	6,460	4,174
Accruals and deferred income	2,140	3,079

	191,407	154,721

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	61,964	39,948
Bank loans	-	3,224

	61,964	43,172

9. Obligations Under Finance Leases and Hire Purchase

	2026	2025
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	44,233	19,717
Later than one year and not later than five years	61,964	39,948

	106,197	59,665

	106,197	59,665

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SKF Express Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

10. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 April 2025	42,656	42,656
Deferred taxation	15,883	15,883

Balance at 31 March 2026	58,539	58,539

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2026	2025
	£	£
Not later than one year	12,950	12,000
Later than one year and not later than five years	22,851	32,000

	35,801	44,000

12. Directors Advances, Credits and Guarantees

Included within Debtors is the following loan to the director:

	As at 1 April 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2026
	£	£	£	£	£
Miss Siobhan Flynn	20,278	28,328	(312 )	-	48,294

The above loan is interest free and has no fixed repayment terms.

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