Blacks Transport Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Blacks Transport Limited is a private company, limited by shares, incorporated in Scotland, registered number SC089157 . The registered office is 113 George Street, Dunoon, PA23 8BS.

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. Turnover

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.

2.3. Tangible Fixed Assets and Depreciation

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accummulated 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.

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 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

In the opinion of the Director that depreciation should not be provided on buildings because the likely residual value will be equal to or in excess of the net book value.

Freehold	0%
Plant & Machinery	33% straight line & 10% on reducing balance
Motor Vehicles	25% reducing balance

2.4. Leasing and Hire Purchase Contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

2.5. Stocks and Work in Progress

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.

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Blacks Transport Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

2.6. Financial Instruments

A financial asset or a financial liability is recognised only when the company 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.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

2.7. Pensions

The company operates a defined contribution scheme. Contributions payable to the company's pension scheme are charged to the profit and loss in the period to which they relate.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 13 (2024: 13)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Total
	£	£	£	£
Cost
As at 1 November 2024	67,425	27,573	530,287	625,285
Additions	10,000	16,000	34,598	60,598
Disposals	-	(10,025 )	(60,900 )	(70,925 )

As at 31 October 2025	77,425	33,548	503,985	614,958

Depreciation
As at 1 November 2024	-	16,481	280,890	297,371
Provided during the period	-	1,298	65,555	66,853
Disposals	-	(3,886 )	(49,221 )	(53,107 )

As at 31 October 2025	-	13,893	297,224	311,117

...CONTINUED

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Blacks Transport Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

Net Book Value
As at 31 October 2025	77,425	19,655	206,761	303,841

As at 1 November 2024	67,425	11,092	249,397	327,914

5. Stocks

	2025	2024
	£	£
Stock	16,780	16,760

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	128,227	112,589
Other debtors	425,298	289,061

	553,525	401,650

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	87,567	104,582
Trade creditors	237,942	70,305
Bank loans and overdrafts	77,893	71,077
Other creditors	18,248	16,820
Taxation and social security	42,285	8,513

	463,935	271,297

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

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	57,810	129,297
Other creditors	66,335	67,696

	124,145	196,993

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	87,567	104,582
Later than one year and not later than five years	57,810	129,297

	145,377	233,879

	145,377	233,879

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Blacks Transport Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	10,000	10,000

11. Directors Advances, Credits and Guarantees

Included within Creditors are the following loans from directors:

	As at 1 November 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 October 2025
	£	£	£	£	£
Mr Charles Black	66,196	-	1,363	-	64,833
Mr Charles Black	1,500	-	-	-	1,500

The above loan is unsecured, interest free and repayable on demand.

12. Related Party Transactions

Black of Dunoon (Bakers) Limited

Mr C E S Black is the majority shareholder in the above company which is registered in Scotland. Mr C E S Black is also a director of the above company.

- Blacks Transport Limited provided services to Black of Dunoon (Bakers) Limited to the value of £6,480. These transactions were in the normal course of business on an arms length basis.

- During the year the company purchased £3,842 of goods and services from the company. These transactions were in the normal course of business on an arms length basis.

- At 31 October 2025 the amount due to the company by Black of Dunoon (Bakers) Limited and included in other debtors was £138,504.

C M Black Distribution

Mr C E S Black and Mrs S A M Black are a partners in the above partnership.

- During the year the company provided goods and services of £175,059 to the partnership. These transactions were in the normal course of business on an arms length basis.

- During the year the company purchased £29,192 of goods and services from the partnership. These transactions were in the normal course of business on an arms length basis.

- At 31 October 2025 the amount due to the company by C M Black Distribution and included in other debtors was £224,586.

R & S Distribution

Mr C E S Black and Mrs S A M Black are a partners in the above partnership.

- At 31 October 2025 the amount due to the company by R & S Distribution and included in other debtors was £18,914.

ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr C E S Black.

13. Secured Debts

The following secured debts are included within creditors:

Bank Overdrafts

31.10.25 £77.893

...CONTINUED

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Blacks Transport Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

31.10.24 £71,077

31.10.23 £85,332

The bank holds a Bond and Floating Charge over the assets of the company.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		303,841		327,914

			303,841		327,914
CURRENT ASSETS
Stocks	5	16,780		16,760
Debtors	6	553,525		401,650

		570,305		418,410
Creditors: Amounts Falling Due Within One Year	7	(463,935 )		(271,297 )

NET CURRENT ASSETS (LIABILITIES)			106,370		147,113

TOTAL ASSETS LESS CURRENT LIABILITIES			410,211		475,027

Creditors: Amounts Falling Due After More Than One Year	8		(124,145 )		(196,993 )

NET ASSETS			286,066		278,034

CAPITAL AND RESERVES
Called up share capital	10		10,000		10,000
Profit and Loss Account			276,066		268,034

SHAREHOLDERS' FUNDS			286,066		278,034