Company No: SC254847 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.01.2026		31.01.2025
		£		£
Fixed assets
Intangible assets	3	1,228,790		1,356,005
Tangible assets	4	1,472,533		1,524,110
		2,701,323		2,880,115
Current assets
Stocks		244,798		220,567
Debtors	5	727,437		753,877
Cash at bank and in hand		157,716		125,131
		1,129,951		1,099,575
Creditors: amounts falling due within one year	6	( 2,146,744)		( 972,709)
Net current (liabilities)/assets		(1,016,793)		126,866
Total assets less current liabilities		1,684,530		3,006,981
Creditors: amounts falling due after more than one year	7	( 556,878)		( 2,002,395)
Provision for liabilities		( 14,865)		( 20,486)
Net assets		1,112,787		984,100
Capital and reserves
Called-up share capital	8	301		301
Profit and loss account		1,112,486		983,799
Total shareholders' funds		1,112,787		984,100

For the financial year ending 31 January 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 financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of R M B Retail Limited (registered number: SC254847) were approved and authorised for issue by the Board of Directors on 03 August 2026. They were signed on its behalf by:

Mr N R Baird Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

R M B Retail Limited (the company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the company's registered office is Baird's Pharmacy, 302-308 Clifton Road, Aberdeen, AB24 4HP, United Kingdom. The principal place of business is 519 King Street, Aberdeen, AB24 3BT.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least twelve months from the date of signing the financial statements. Thus the directors have continued to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or 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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue for the provision of services is recognised by reference to the date on which services were rendered.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

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

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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 profit and loss account, 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.

Intangible assets

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

Goodwill

20 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery etc.	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The company 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 leases asset are consumed.

The company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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 creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. 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. Amounts 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.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant 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 company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	Year ended 31.01.2026		Period from 31.01.2024 to 31.01.2025
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	39		35

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 February 2025	2,544,330		2,544,330
At 31 January 2026	2,544,330		2,544,330
Accumulated amortisation
At 01 February 2025	1,188,325		1,188,325
Charge for the financial year	127,215		127,215
At 31 January 2026	1,315,540		1,315,540
Net book value
At 31 January 2026	1,228,790		1,228,790
At 31 January 2025	1,356,005		1,356,005

4. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 February 2025	1,550,457		499,147		2,049,604
Additions	0		1,000		1,000
At 31 January 2026	1,550,457		500,147		2,050,604
Accumulated depreciation
At 01 February 2025	111,952		413,542		525,494
Charge for the financial year	31,009		21,568		52,577
At 31 January 2026	142,961		435,110		578,071
Net book value
At 31 January 2026	1,407,496		65,037		1,472,533
At 31 January 2025	1,438,505		85,605		1,524,110

5. Debtors

	31.01.2026		31.01.2025
	£		£
Trade debtors	354,592		303,435
Amounts owed by related parties	259,024		332,542
Corporation tax	63,275		60,522
Other debtors	50,546		57,378
	727,437		753,877

6. Creditors: amounts falling due within one year

	31.01.2026		31.01.2025
	£		£
Bank loans (secured)	1,452,120		195,587
Trade creditors	298,885		351,884
Amounts owed to group undertakings	173,067		174,207
Amounts owed to related parties	42,316		0
Corporation tax	114,155		206,328
Other taxation and social security	14,930		13,369
Other creditors	51,271		31,334
	2,146,744		972,709

7. Creditors: amounts falling due after more than one year

	31.01.2026		31.01.2025
	£		£
Bank loans (secured)	556,878		2,002,395

In February 2026, the company took out two new bank loans.
One loan is repayable monthly instalments ending in February 2031. The interest rate for this loan is the Bank of England's Base Rate plus 2.02%.
The other loan is repayable on its maturity date in February 2031. The interest rate for this loan is the Bank of England's Base Rate plus 1.53%.

Bank of Scotland PLC hold a standard security and floating charge over 5 University Road and 519 King Street, Aberdeen and 7 and 9-11 Castle Street, Banff.

Lloyds TSB also hold a bond and floating charge over all property and assets of the company.

The directors have provided a guarantee to Lloyds TSB, that is for the benefit of Bank of Scotland PLC, to the value of £750,000.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	31.01.2026		31.01.2025
	£		£
Bank loans (repayable by instalments)	206,904		902,100

8. Called-up share capital

	31.01.2026		31.01.2025
	£		£
Allotted, called-up and fully-paid
101 Ordinary A shares of £ 1.00 each	101		101
100 Ordinary B shares of £ 1.00 each	100		100
100 Ordinary C shares of £ 1.00 each	100		100
	301		301

All shares rank pari passu.

9. Financial commitments

Commitments

	31.01.2026		31.01.2025
	£		£
Total future minimum lease payments under non-cancellable operating leases	5,332		5,332

10. Related party transactions

Transactions with owners holding a participating interest in the entity

	31.01.2026		31.01.2025
	£		£
Amounts due to entities with control, joint control or significant influence over the company	173,067		174,207

Transactions with the entity's directors

At 31 January 2026, the company was due the directors £23,779 (2025 - the directors was due the company £17,697). The loan is interest free with no set repayment terms.

A trust controlled by the directors is due the company £177,953 (2025 - £145,335). This loan is interest free with no set repayment terms.

Other related party transactions

	31.01.2026		31.01.2025
	£		£
Amounts due to other related parties	42,316		0
Amounts due from other related parties	81,071		187,207