James Erskine Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: SC089297

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,046,732		819,164

			1,046,732		819,164
CURRENT ASSETS
Stocks	5	1,338		10,330
Debtors	6	23,521		44,795
Cash at bank and in hand		265,441		230,792

		290,300		285,917
Creditors: Amounts Falling Due Within One Year	7	(81,799 )		(98,688 )

NET CURRENT ASSETS (LIABILITIES)			208,501		187,229

TOTAL ASSETS LESS CURRENT LIABILITIES			1,255,233		1,006,393

PROVISIONS FOR LIABILITIES
Deferred Taxation			(195,649 )		(99,086 )

NET ASSETS			1,059,584		907,307

CAPITAL AND RESERVES
Called up share capital	8		1,000		1,000
Revaluation reserve	10		825,428		691,991
Profit and Loss Account			233,156		214,316

SHAREHOLDERS' FUNDS			1,059,584		907,307

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James Erskine Limited

Balance Sheet (continued)

As At 31 December 2025

For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Norman Laidlaw

Director

17/08/2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

James Erskine Limited is a private company, limited by shares, incorporated in Scotland, registered number SC089297 . The registered office is 6 Church Hill Place, Edinburgh, EH10 4BD.

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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	0%
Plant & Machinery	25% Straight Line
Motor Vehicles	25% Straight Line
Fixtures & Fittings	25% Straight Line

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.

...CONTINUED

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James Erskine Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.5. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 7 (2024: 8)

4. Tangible Assets

	Land & Property
	Freehold	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost or Valuation
As at 1 January 2025	815,000	33,977	23,270	872,247
Additions	-	-	2,309	2,309
Revaluation	230,000	-	-	230,000

As at 31 December 2025	1,045,000	33,977	25,579	1,104,556

Depreciation
As at 1 January 2025	-	29,813	23,270	53,083
Provided during the period	-	4,164	577	4,741

As at 31 December 2025	-	33,977	23,847	57,824

Net Book Value
As at 31 December 2025	1,045,000	-	1,732	1,046,732

As at 1 January 2025	815,000	4,164	-	819,164

5. Stocks

	2025	2024
	£	£
Stock	798	9,257
Work in progress	540	1,073

	1,338	10,330

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	759	10,415
Other debtors	22,762	34,380

	23,521	44,795

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James Erskine Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	14,567	17,182
Other creditors	42,159	52,303
Taxation and social security	25,073	29,203

	81,799	98,688

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1,000	1,000

9. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2025
	£	£	£	£	£
Mr Norman Laidlaw	16,896	16,796	16,896	-	16,796

The above loan is unsecured, interest free and repayable on demand. The loan was repaid in August 2026.

10. Reserves

	Revaluation reserve	Profit and Loss Account
	£	£
As at 1 January 2025	691,991	214,316
Profit for year	-	35,840

Surplus on revaluation	133,437	-

Other comprehensive income for the year	133,437	-

Total comprehensive income for the year	133,437	35,840

Dividends paid	-	(17,000)

As at 31 December 2025	825,428	233,156

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