Registration number: SC599666

Irvine Plumbing & Construction Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 10

Irvine Plumbing & Construction Ltd

Company Information

Directors

Mr Darren James Irvine Mr Dwayne Bews Irvine Mr Colin Wood

Registered office

Halodyke Grimbister Kirkwall Orkney Scotland KW15 1TT

Accountants

Gray Associates Ridgeways Back Road Stromness Orkney KW16 3DS

Irvine Plumbing & Construction Ltd

(Registration number: SC599666)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	494,525	492,381
Current assets
Stocks	5	32,022	5,000
Debtors	6	1,158	93,371
Cash at bank and in hand		266,742	274,138
		299,922	372,509
Creditors: Amounts falling due within one year	7	(205,406)	(377,554)
Net current assets/(liabilities)		94,516	(5,045)
Total assets less current liabilities		589,041	487,336
Creditors: Amounts falling due after more than one year	7	(33,041)	(51,951)
Provisions for liabilities		(123,632)	(123,095)
Net assets		432,368	312,290
Capital and reserves
Called up share capital	8	100	100
Share premium reserve		22,307	22,307
Retained earnings		409,961	289,883
Shareholders' funds		432,368	312,290

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 July 2026 and signed on its behalf by:
 

......................................... Mr Darren James Irvine Director

Irvine Plumbing & Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Halodyke
Grimbister
Kirkwall
Orkney
KW15 1TT
Scotland

These financial statements were authorised for issue by the Board on 28 July 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Irvine Plumbing & Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and amchinery	Reducing balance - 25%
Office equipment	Straight line - 25%
Motor vehicles	Reducing balance - 25%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Irvine Plumbing & Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Irvine Plumbing & Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2025 - 14).

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2025	9,467	549,461	338,077	897,005
Additions	3,580	132,350	25,984	161,914
Disposals	-	(56,995)	-	(56,995)
At 31 March 2026	13,047	624,816	364,061	1,001,924
Depreciation
At 1 April 2025	3,132	204,008	197,484	404,624
Charge for the year	2,097	85,511	37,271	124,879
Eliminated on disposal	-	(22,104)	-	(22,104)
At 31 March 2026	5,229	267,415	234,755	507,399
Carrying amount
At 31 March 2026	7,818	357,401	129,306	494,525
At 31 March 2025	6,335	345,453	140,593	492,381

Irvine Plumbing & Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

5

Stocks

	2026 £	2025 £
Work in progress	27,022	-
Other inventories	5,000	5,000
	32,022	5,000

6

Debtors

Current	2026 £	2025 £
Trade debtors	-	85,065
Prepayments	1,158	-
Other debtors	-	8,306
	1,158	93,371

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	9	110,234	132,569
Trade creditors		(21,699)	170,017
Taxation and social security		98,133	66,167
Accruals and deferred income		4,150	4,008
Other creditors		14,588	4,793
		205,406	377,554

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	9	33,041	51,951

Irvine Plumbing & Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

8	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
A ordinary shares of £1 each	90	90	90	90
B ordinary shares of £1 each	10	10	10	10
	100	100	100	100

Irvine Plumbing & Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

9	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £
Bank borrowings	18,906	24,573
Hire purchase contracts	14,135	27,378
	33,041	51,951

Current loans and borrowings

	2026 £	2025 £
Bank borrowings	5,547	5,427
Finance lease liabilities	39,243	47,435
Other borrowings	65,444	79,707
	110,234	132,569

10	Related party transactions

Transactions with directors

2026	Advances from directors £	Repayments to director £	At 31 March 2026 £
Mr Darren James Irvine
Directors loan	54,987	(60,982)	49,783
Mr Colin Wood
Directors loan	54,629	(55,355)	459
Mr Dwayne Bews Irvine
Directors loan	55,335	(62,878)	15,202

2025	At 1 April 2024 £	Advances from director £	Repayments by director £	At 31 March 2025 £
Mr Darren James Irvine
Directors loan	82,256	38,012	(64,490)	55,778
Mr Colin Wood
Directors loan	7,335	38,012	(44,162)	1,185
Mr Dwayne Bews Irvine
Directors loan	50,608	38,012	(65,875)	22,745

Irvine Plumbing & Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Directors loans are unsecured, interest free and repayable on demand.