Lothian Brakeways Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC147590

Lothian Brakeways Limited

Filleted Unaudited Financial Statements

31 October 2025

Lothian Brakeways Limited

Financial Statements

Year ended 31 October 2025

Contents	Pages

Officers and professional advisers	1

Statement of financial position	2 to 3

Notes to the financial statements	4 to 8

Lothian Brakeways Limited

Officers and Professional Advisers

The board of directors	Mr W J Short
	Mrs J M Short
	Mr D G Short
	Mr I A Short
	Mr M W Short

Company secretary	Mrs J M Short

Registered office	39 - 41 Bonnyrigg Road
	Eskbank Dalkeith
	Midlothian
	EH22 3HF

Accountants	Gibson McKerrell Burrows Limited
	Chartered Accountants
	28 Rutland Square
	Edinburgh
	EH1 2BW

Lothian Brakeways Limited

Statement of Financial Position

31 October 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		6,203	7,755

Current assets

Stocks		260,364	267,025
Debtors	6	270,939	267,961
Cash at bank and in hand		41,887	35,311
		----------	----------
		573,190	570,297

Creditors: amounts falling due within one year	7	149,484		162,751
		----------		----------
Net current assets			423,706	407,546
			----------	----------
Total assets less current liabilities			429,909	415,301

Provisions

Taxation including deferred tax	( 439)	( 439)
	----------	----------
Net assets	430,348	415,740
	----------	----------

Lothian Brakeways Limited

Statement of Financial Position (continued)

31 October 2025

	2025		2024
Note	£	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	430,248	415,640
	----------	----------
Shareholders funds	430,348	415,740
	----------	----------

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 October 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 .

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

Mr D G Short
Director

Company registration number: SC147590

Lothian Brakeways Limited

Notes to the Financial Statements

Year ended 31 October 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 39 - 41 Bonnyrigg Road, Eskbank Dalkeith, Midlothian, EH22 3HF.

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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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	-	4% straight line
Fixtures and fittings	-	20% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

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 entity 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. Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 6 (2024: 7 ).

5. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 November 2024 and 31 October 2025	40,472	40,472
	---------	---------
Depreciation
At 1 November 2024	32,717	32,717
Charge for the year	1,552	1,552
	---------	---------
At 31 October 2025	34,269	34,269
	---------	---------
Carrying amount
At 31 October 2025	6,203	6,203
	---------	---------
At 31 October 2024	7,755	7,755
	---------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	79,200	100,632
Prepayments and accrued income	9,883	15,473
Other debtors - due from W & J Short	181,856	151,856
	----------	----------
	270,939	267,961
	----------	----------

Included in other debtors there is an amount £181,856 (2024 £151,856) due from Dalkeith W & J Short. W & J Short is a partnership whose members are the Short family. The amount is interest free with no specific terms of repayment.

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	78,162	89,552
Accruals and deferred income	9,642	9,377
Corporation tax	4	4
Social security and other taxes	6,676	8,818
Other creditors - Dalkeith Retail Centre Ltd	55,000	55,000
	----------	----------
	149,484	162,751
	----------	----------

Included in other creditors there is an amount £55,000 (2024 £55,000) due to Dalkeith Retail Centre Limited. Dalkeith Retail Centre Limited is a company whose members are the Short family. The amount is interest free with no specific terms of repayment.

8. Operating leases

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

	2025	2024
	£	£
Not later than 1 year	1,000	1,000
	-------	-------

9. Related party transactions

The company was under the control of the Short family throughout the current and previous year. Sales amounting to £108,341 (2024 £103,543) were made at normal trade prices to W & J Short in the year. Purchases amounting to £4,892 (2024 £7,701) were made at normal trade price from W & J Short. Included in trade debtors was £32,597 (2024 £32,562) due by W & J Short. W & J Short is a partnership whose members are the Short family. Sales amounting to £74,641 (2024 £73,097) were made at normal trade prices to Dalkeith Retail Centre Limited. Purchases amounting to £Nil (2024 £Nil) were made at normal trade prices from Dalkeith Retail Centre Limited. Included in trade debtors £4,253 (2024 £26,002) due by Dalkeith Retail Centre Limited. Dalkeith Retail Centre Limited is a company whose members are the Short family. Sales amounting to £Nil (2024 £276) were made at normal trade prices to Harrison's Retail Centre Limited. Purchases amounting to £Nil (2024 £Nil) were made at normal trade prices from Harrison's Retail Centre Limited. Included in trade debtors £826 (2024 £1,194) due by Harrison's Retail Centre Limited. Harrison's Retail Centre Limited is a company whose members are the Short family.