Company registration number SC069993 (Scotland)
CADEMUIR ENGINEERING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
CADEMUIR ENGINEERING LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
4 - 9
CADEMUIR ENGINEERING LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,474,421
4,331,301
Current assets
Stocks
5
273,759
266,450
Debtors
6
830,367
748,297
Cash at bank and in hand
73,597
95,358
1,177,723
1,110,105
Creditors: amounts falling due within one year
7
(1,222,943)
(1,217,984)
Net current liabilities
(45,220)
(107,879)
Total assets less current liabilities
4,429,201
4,223,422
Creditors: amounts falling due after more than one year
8
(817,500)
(1,227,500)
Provisions for liabilities
(441,350)
(400,881)
Net assets
3,170,351
2,595,041
Capital and reserves
Called up share capital
9
42,222
42,222
Share premium account
44,271
44,271
Revaluation reserve
185,159
185,159
Profit and loss reserves
2,898,699
2,323,389
Total equity
3,170,351
2,595,041

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

CADEMUIR ENGINEERING LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 DECEMBER 2025
31 December 2025
- 2 -

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 27 July 2026 and are signed on its behalf by:
B. Walker
Director
Company Registration No. SC069993
CADEMUIR ENGINEERING LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
Share capital
Share premium account
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
£
Balance at 1 January 2024
42,222
44,271
185,159
2,027,337
2,298,989
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
-
-
333,052
333,052
Dividends
3
-
-
-
(37,000)
(37,000)
Balance at 31 December 2024
42,222
44,271
185,159
2,323,389
2,595,041
Year ended 31 December 2025:
Profit and total comprehensive income for the year
-
-
-
612,310
612,310
Dividends
3
-
-
-
(37,000)
(37,000)
Balance at 31 December 2025
42,222
44,271
185,159
2,898,699
3,170,351
CADEMUIR ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -
1
Accounting policies
Company information

Cademuir Engineering Limited is a private company limited by shares incorporated in Scotland. The registered office is C/O Azets, Quay 2, 139 Fountainbridge, Edinburgh, United Kingdom, EH3 9QG.

1.1
Accounting convention

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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:

Freehold land and buildings
Not depreciated
Plant and equipment
5 years straight line
Fixtures and fittings
5 years straight line

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

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

CADEMUIR ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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 income statement, 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.

CADEMUIR ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 6 -
1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases
As lessee

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.

2
Employees

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

2025
2024
Number
Number
Total
48
41
3
Dividends
2025
2024
£
£
Final paid
37,000
37,000
4
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost or valuation
At 1 January 2025
4,237,355
2,011,021
54,530
6,302,906
Additions
79,582
94,849
33,983
208,414
At 31 December 2025
4,316,937
2,105,870
88,513
6,511,320
Depreciation and impairment
At 1 January 2025
-
0
1,929,821
41,784
1,971,605
Depreciation charged in the year
-
0
58,781
6,513
65,294
At 31 December 2025
-
0
1,988,602
48,297
2,036,899
CADEMUIR ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
4
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
(Continued)
- 7 -
Carrying amount
At 31 December 2025
4,316,937
117,268
40,216
4,474,421
At 31 December 2024
4,237,355
81,200
12,746
4,331,301

The fair value of the company's Freehold Property was revalued on 16 March 2021. An independant valuer was not involved. The property was revalued on an existing use basis by reference to current Red Book valuation methods.

Had this class of asset been measured on a historical cost basis the carrying amount would have been £893,141 (2024: £893,141).

5
Stocks
2025
2024
£
£
Stocks
273,759
266,450
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
779,043
699,566
Amounts owed by group undertakings
4,530
3,630
Other debtors
16,277
20,177
Prepayments and accrued income
30,517
24,924
830,367
748,297

Included within other debtors are amounts due from directors' as detailed in note 14.

7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
600,000
630,000
Trade creditors
326,842
270,074
Corporation tax
142,962
150,315
Other taxation and social security
136,584
136,126
Other creditors
-
0
1,616
Accruals and deferred income
16,555
29,853
1,222,943
1,217,984
CADEMUIR ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
817,500
1,227,500

A loan of £400,000 was advanced in September 2017. This loan is repayable by monthly instalments, with the final instalment being due on 12 August 2032. Interest is charged at 1% flat p.a.

9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
32,222
32,222
32,222
32,222
Ordinary B1 shares of £1 each
3,276
2,888
3,276
2,888
Ordinary B2 shares of £1 each
2,112
2,112
2,112
2,112
Ordinary B3 shares of £1 each
2,112
2,112
2,112
2,112
Ordinary B4 shares of £1 each
2,500
2,888
2,500
2,888
42,222
42,222
42,222
42,222

The Ordinary shares and Ordinary shares B rank pari passu with each other regarding all capital distributions, voting rights and general entitlements, except where explicitly noted in the paragraph below regarding discretionary dividends.

Where a dividend is declared in respect of more than one class of shares the Company may, by ordinary resolution, differentiate between such classes as to the amount of percentage of dividend payable, but in default the shares in each such class shall be deemed to rank pari passu in all respects as if they constituted one class of shares.

388 B4 Ordinary shares were redesignated as 388 B1 Ordinary shares on 5 December 2025.

10
Financial commitments, guarantees and contingent liabilities

Included in the statement of financial position are unpaid pension contributions of £8,805 (2024: £14,818 ).

11
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
10,931
19,130
12
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

CADEMUIR ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
12
Related party transactions
(Continued)
- 9 -

Cademuir Engineering Limited is a subsidiary of Holly Group Limited.

During the year Cademuir Engineering Limited undertook transactions totalling £1,093 (2024 - £0) on behalf of Holly Group Limited. At the year end £4,530 (2024 - £3,437) was outstanding in debtors.

Cademuir Toolmaking Limited is a subsidiary of Cademuir Engineering Limited.

During the year Cademuir Engineering Limited undertook transactions totalling £0 (2024 - £0) on behalf of Cademuir Toolmaking Limited. At the year end £0 (2024 - £193) was outstanding in debtors.

13
Parent company

The company's immediate parent is Holly Group Limited, incorporated in England.

14
Directors' transactions
Description
Opening balance
Closing balance
£
£
B. Walker - Loan due to the company
15,377
15,377
15,377
15,377
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