Registration number: SC562055

Langholm Sporting Limited

Contents

Accountants' Report	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	4

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Langholm Sporting Limited
for the Year Ended 28 February 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Langholm Sporting Limited for the year ended 28 February 2026 as set out on pages 2 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Langholm Sporting Limited, as a body, in accordance with the terms of our engagement letter dated 21 September 2023. Our work has been undertaken solely to prepare for your approval the accounts of Langholm Sporting Limited and state those matters that we have agreed to state to the Board of Directors of Langholm Sporting Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Langholm Sporting Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Langholm Sporting Limited 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 of Langholm Sporting Limited. You consider that Langholm Sporting 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 accounts of Langholm Sporting 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 accounts.

Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

13 July 2026

Langholm Sporting Limited

(Registration number: SC562055)
Balance Sheet as at 28 February 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	339,569	331,988
Current assets
Stocks		24,900	22,000
Debtors	5	30,145	15,865
Cash at bank and in hand		38,559	14,680
		93,604	52,545
Creditors: Amounts falling due within one year	6	(197,086)	(188,419)
Net current liabilities		(103,482)	(135,874)
Total assets less current liabilities		236,087	196,114
Creditors: Amounts falling due after more than one year	6	(113,418)	(113,201)
Net assets		122,669	82,913
Capital and reserves
Profit and loss account		122,669	82,913
Total equity		122,669	82,913

Langholm Sporting Limited

(Registration number: SC562055)
Balance Sheet as at 28 February 2026 (continued)

For the financial year ending 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 July 2026
 

.........................................

A Denton

Director

Langholm Sporting Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

1	General information

The company is a company limited by guarantee, incorporated in Scotland, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Holmhead
Langholm
Dumfriesshire
DG13 0ND
 

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The company has net current liabilities at 28 February 2026 and meets its day to day working capital requirements through its bank loans. On the basis of this support, the directors consider it appropriate to prepare the financial statements on the going concern basis.

However, should the company not have the support of its bankers, and therefore be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

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 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.

Langholm Sporting Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

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 machinery	25% reducing balance
Motor vehicles	25% reducing balance

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 the sale of goods 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 where due after more than one year.

Langholm Sporting Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

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 hire purchase agreements whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under hire purchase agreements are recognised at their fair value at inception of the agreement. These assets are depreciated on a reducing balance basis over the useful life of the asset. The corresponding liability to the lessor is included in the Balance Sheet as a hire purchase agreement 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.

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.

Langholm Sporting Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2025 - 7).

4	Tangible assets

	Plant and machinery  £	Motor vehicles  £	Total £
Cost or valuation
At 1 March 2025	447,067	213,824	660,891
Additions	79,757	32,070	111,827
Disposals	(30,900)	(12,543)	(43,443)
At 28 February 2026	495,924	233,351	729,275
Depreciation
At 1 March 2025	248,157	80,745	328,902
Charge for the year	57,002	34,995	91,997
Eliminated on disposal	(19,766)	(11,427)	(31,193)
At 28 February 2026	285,393	104,313	389,706
Carrying amount
At 28 February 2026	210,531	129,038	339,569
At 28 February 2025	198,909	133,079	331,988

5

Debtors

	2026 £	2025 £
Trade debtors	27,731	13,451
Other debtors	2,414	2,414
	30,145	15,865

Langholm Sporting Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

6

Creditors

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	7	91,121	87,283
Trade creditors		95,005	82,371
Taxation and social security		4,738	4,744
Other creditors		6,222	14,021
		197,086	188,419
Due after one year
Loans and borrowings	7	109,418	97,201
Other creditors		4,000	16,000
		113,418	113,201

Langholm Sporting Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

7	Loans and borrowings

	2026 £	2025 £
Current loans and borrowings
Bank borrowings	2,502	10,000
Hire purchase agreements	53,688	52,352
Other borrowings	34,931	24,931
	91,121	87,283

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

	2026 £	2025 £
Hire purchase agreements	53,688	52,352

Hire purchase agreements are secured on the assets to which they relate.