IRIS Accounts Production v26.1.10.61 SC050072 director 1.3.25 28.2.26 28.2.26 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC0500722025-02-28SC0500722026-02-28SC0500722025-03-012026-02-28SC0500722024-02-29SC0500722024-03-012025-02-28SC0500722025-02-28SC050072ns15:Scotland2025-03-012026-02-28SC050072ns14:PoundSterling2025-03-012026-02-28SC050072ns10:Director12025-03-012026-02-28SC050072ns10:PrivateLimitedCompanyLtd2025-03-012026-02-28SC050072ns10:SmallEntities2025-03-012026-02-28SC050072ns10:AuditExemptWithAccountantsReport2025-03-012026-02-28SC050072ns10:SmallCompaniesRegimeForDirectorsReport2025-03-012026-02-28SC050072ns10:SmallCompaniesRegimeForAccounts2025-03-012026-02-28SC050072ns10:FullAccounts2025-03-012026-02-28SC050072ns10:CompanySecretary12025-03-012026-02-28SC050072ns10:RegisteredOffice2025-03-012026-02-28SC050072ns5:CurrentFinancialInstruments2026-02-28SC050072ns5:CurrentFinancialInstruments2025-02-28SC050072ns5:ShareCapital2026-02-28SC050072ns5:ShareCapital2025-02-28SC050072ns5:RevaluationReserve2026-02-28SC050072ns5:RevaluationReserve2025-02-28SC050072ns5:RetainedEarningsAccumulatedLosses2026-02-28SC050072ns5:RetainedEarningsAccumulatedLosses2025-02-28SC050072ns5:LongLeaseholdAssetsns5:LandBuildings2025-03-012026-02-28SC050072ns5:FurnitureFittings2025-03-012026-02-28SC050072ns5:ComputerEquipment2025-03-012026-02-28SC050072ns5:LongLeaseholdAssetsns5:LandBuildings2025-02-28SC050072ns5:FurnitureFittings2025-02-28SC050072ns5:ComputerEquipment2025-02-28SC050072ns5:LongLeaseholdAssetsns5:LandBuildings2026-02-28SC050072ns5:FurnitureFittings2026-02-28SC050072ns5:ComputerEquipment2026-02-28SC050072ns5:LongLeaseholdAssetsns5:LandBuildings2025-02-28SC050072ns5:FurnitureFittings2025-02-28SC050072ns5:ComputerEquipment2025-02-28SC050072ns5:WithinOneYearns5:CurrentFinancialInstruments2026-02-28SC050072ns5:WithinOneYearns5:CurrentFinancialInstruments2025-02-28SC050072ns5:RevaluationReserve2025-02-28
REGISTERED NUMBER: SC050072 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2026

FOR

J G RAE LIMITED
J G RAE LIMITED (REGISTERED NUMBER: SC050072)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2026




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

J G RAE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2026







DIRECTOR: S L Whitehead-Robertson





SECRETARY:





REGISTERED OFFICE: 92 Commercial Street
Lerwick
Shetland
ZE1 0EX





REGISTERED NUMBER: SC050072 (Scotland)





ACCOUNTANTS: Goldwells Ltd
Goldwells House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN
Page 1
J G RAE LIMITED (REGISTERED NUMBER: SC050072)

BALANCE SHEET
28TH FEBRUARY 2026

2026 2025
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 195,959 196,196

CURRENT ASSETS
Stocks 97,694 99,967
Debtors 6 20,665 22,963
Cash at bank and in hand 968 15,330
119,327 138,260
CREDITORS
Amounts falling due within one year 7 87,459 57,083
NET CURRENT ASSETS 31,868 81,177
TOTAL ASSETS LESS CURRENT
LIABILITIES
227,827
277,373

PROVISIONS FOR LIABILITIES 10,776 10,383
NET ASSETS 217,051 266,990

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 8 176,460 176,460
Retained earnings 40,589 90,528
SHAREHOLDERS' FUNDS 217,051 266,990

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The notes form part of these financial statements

Page 2 continued...
J G RAE LIMITED (REGISTERED NUMBER: SC050072)

BALANCE SHEET - continued
28TH FEBRUARY 2026


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3rd August 2026 and were signed by:





S L Whitehead-Robertson - Director


The notes form part of these financial statements

Page 3
J G RAE LIMITED (REGISTERED NUMBER: SC050072)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2026

1. STATUTORY INFORMATION

J G Rae Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The presentation currency is sterling.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - not provided
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Page 4 continued...
J G RAE LIMITED (REGISTERED NUMBER: SC050072)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2026

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2025 - 12 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Long and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST OR VALUATION
At 1st March 2025 156,000 165,740 5,443 327,183
Additions - 2,607 3,763 6,370
At 28th February 2026 156,000 168,347 9,206 333,553
DEPRECIATION
At 1st March 2025 - 129,317 1,670 130,987
Charge for year - 5,477 1,130 6,607
At 28th February 2026 - 134,794 2,800 137,594
NET BOOK VALUE
At 28th February 2026 156,000 33,553 6,406 195,959
At 28th February 2025 156,000 36,423 3,773 196,196

Cost or valuation at 28th February 2026 is represented by:

Fixtures
Long and Computer
leasehold fittings equipment Totals
£    £    £    £   
Valuation in 2016 156,000 - - 156,000
Cost - 168,347 9,206 177,553
156,000 168,347 9,206 333,553

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2026 2025
£    £   
Trade debtors 19,065 21,692
Prepayments and accrued income 1,600 1,271
20,665 22,963

The loan to the director is interest free with no fixed terms of repayment.

Page 5 continued...
J G RAE LIMITED (REGISTERED NUMBER: SC050072)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2026

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2026 2025
£    £   
Bank loans and overdrafts 17,927 -
Trade creditors 38,640 14,950
Corporation Tax - 2,225
Social security and other taxes 28,205 18,528
Other creditors - 18,688
Directors' current accounts 12 17
Accrued expenses 2,675 2,675
87,459 57,083

8. RESERVES
Revaluation
reserve
£   
At 1st March 2025
and 28th February 2026 176,460

Page 6
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
J G RAE LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J G Rae Limited for the year ended 28th February 2026 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the director of J G Rae Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of J G Rae Limited and state those matters that we have agreed to state to the director of J G Rae Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/gb/en/technical-activities/technical-resources-
search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that J G Rae Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of J G Rae Limited. You consider that J G Rae Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of J G Rae Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Goldwells Ltd
Goldwells House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN


3rd August 2026

This page does not form part of the statutory financial statements

Page 7