Registration number: SC115796

J. Sives Surfacing Limited

Contents

Company Information	1
Statement of Directors' Responsibilities	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 10

J. Sives Surfacing Limited

Company Information

Directors

C M Smith J Ross C Rogers

Registered office

91B West Savile Terrace Edinburgh Lothian UK EH9 3DP

Accountants

Brown, Scott & Main Chartered Accountants 91 West Savile Terrace Edinburgh EH9 3DP

J. Sives Surfacing Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

J. Sives Surfacing Limited

(Registration number: SC115796)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	5	174,663	233,649
Current assets
Stock	6	5,145	21,000
Debtors	7	484,181	445,564
Cash at bank and in hand		320,804	345,635
		810,130	812,199
Creditors: Amounts falling due within one year	8	(525,982)	(416,014)
Net current assets		284,148	396,185
Total assets less current liabilities		458,811	629,834
Creditors: Amounts falling due after more than one year	8	(103,799)	(156,879)
Provisions for liabilities	9	(43,666)	(58,414)
Net assets		311,346	414,541
Capital and reserves
Called up share capital	14	200,000	200,000
Retained earnings		111,346	214,541
Shareholders' funds		311,346	414,541

For the financial year ending 31 March 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 August 2026 and signed on its behalf by:
 

......................................... C M Smith Director

J. Sives Surfacing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office and place of business is:
91B West Savile Terrace
Edinburgh
Lothian
EH9 3DP
UK

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.

The presentation currency is sterling.

Going concern

The financial statements have been prepared on the going concern basis. The company achieved a profit after taxation of £151,605 (2025 £147,259) in the year and at its year end had net assets of £311,346 (2025 £414,541). The directors are satisfied the company will be able to meet its working capital requirements as they fall due and the company will be able to continue to trade for the foreseeable future.

Revenue recognition

Turnover represents the total value of work done during the year on short term construction contracts, excluding value added tax and including retentions receivable on work done. Revenue is recognised as earned to the extent that the company obtains the right to consideration in exchange for its performance under those contracts. For incomplete contracts, where their outcome can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion of the contract at the balance sheet date. Unbilled revenue at the year end is included in debtors and amounts billed in advance of revenue earned is included in creditors. Where it is probable that contract costs paid exceed the total contract turnover, the expected loss is recognised as an expense immediately.

Tax

The tax expense for the period comprises current tax and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tax losses surrendered to any group company are paid in full by the claimant company.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

J. Sives Surfacing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Tangible assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost less residual value of each asset over its estimated useful life, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% per annum straight line
Office equipment	25% per annum straight line
Furniture and fittings	25% per annum straight line
Motor vehicles	20% per annum straight line

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and at bank 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 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.

Stock

Stock is stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

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.

J. Sives Surfacing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

The company operates defined contribution schemes which are pension plans 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.

The pension costs charged in the financial statements represent amounts paid to two (2025 - two) defined contribution schemes. The two schemes are automatic enrolment schemes operated for the company's office and site based employees. The assets of these schemes are held separately from those of the company in independently administered funds. Employer pension contributions to defined contribution plans are recognised as an employee benefit expense when they are due.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2025 - 20).

J. Sives Surfacing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

4

Taxation

	2026		2025
	£		£
Current tax:
UK corporation tax	65,971		33,641
Deferred tax	(14,748)		14,717
	51,223		48,358

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost
At 1 April 2025	68,135	295,618	363,753
Additions	914	-	914
At 31 March 2026	69,049	295,618	364,667
Depreciation
At 1 April 2025	65,862	64,242	130,104
Charge for the year	776	59,124	59,900
At 31 March 2026	66,638	123,366	190,004
Carrying amount
At 31 March 2026	2,411	172,252	174,663
At 31 March 2025	2,273	231,376	233,649

Motor vehicles are held on hire purchase contracts.

6

Stock

	2026 £	2025 £
Work in progress	4,645	20,500
Materials	500	500
	5,145	21,000

7

Debtors

	2026 £	2025 £
Trade debtors	436,001	412,968
Prepayments	-	4,001
Other debtors	48,180	28,595
	484,181	445,564

J. Sives Surfacing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

8

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	10	53,079	53,079
Trade creditors		302,601	235,628
Taxation and social security		133,542	65,805
Accruals and deferred income		36,760	42,449
Other creditors		-	19,053
		525,982	416,014

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £53,079 (2025 - £53,079).

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	10	103,799	156,879