REGISTERED NUMBER: SC210472 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

S. MCILWRAITH (RECYCLING) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J D Easdale

R M Easdale

SECRETARY:

G L Watt

REGISTERED OFFICE:

121 Barfillan Drive

Glasgow

G52 1BH

REGISTERED NUMBER:

SC210472 (Scotland)

AUDITORS:

Bannerman Johnstone Maclay Limited

Chartered Accountants

and Statutory Auditor

213 St Vincent Street

Glasgow

G2 5QY

BANKERS:

The Royal Bank of Scotland plc

23 Sauchiehall Street

Glasgow

G2 3AD

SOLICITORS:

Rennie McInnes LLP

Douglas House

42 Main Street

Milngavie

Glasgow

G62 6BU

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

254,339

252,262

254,339

252,262

CURRENT ASSETS

Stocks

140,995

60,892

Debtors

6

3,524,145

3,277,359

Cash at bank and in hand

139,958

168,204

3,805,098

3,506,455

CREDITORS

Amounts falling due within one year

7

902,153

874,444

NET CURRENT ASSETS

2,902,945

2,632,011

TOTAL ASSETS LESS CURRENT LIABILITIES

3,157,284

2,884,273

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

3,157,282

2,884,271

SHAREHOLDERS' FUNDS

3,157,284

2,884,273

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 Board of Directors and authorised for issue on 17 August 2026 and were signed on its behalf by:

J D Easdale - Director

1.	STATUTORY INFORMATION

S. McIlwraith (Recycling) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

Monetary amounts in these financial statements are rounded to the nearest £.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Land & Buildings - 2% on cost

Plant & Machinery - 20% on cost

Fixtures & Fittings - 20% on cost

Stocks

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

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include certain debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including certain creditors and balances from related undertakings, are initially recognised at transaction price. 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.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

26,991

AMORTISATION

At 1 January 2025

and 31 December 2025

26,991

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2025

315,207

143,402

458,609

Additions

-

27,091

27,091

At 31 December 2025

315,207

170,493

485,700

DEPRECIATION

At 1 January 2025

107,085

99,262

206,347

Charge for year

6,304

18,710

25,014

At 31 December 2025

113,389

117,972

231,361

NET BOOK VALUE

At 31 December 2025

201,818

52,521

254,339

At 31 December 2024

208,122

44,140

252,262

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,159,981

309,680

Amounts owed by group undertakings

2,337,936

2,935,967

Amounts owed by related undertakings

17,210

20,266

Prepayments and accrued income

9,018

11,446

3,524,145

3,277,359

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

286,040

269,535

Amounts owed to group undertakings

-

912

Tax

15,580

61,619

VAT

246,924

302,639

Accrued expenses

353,609

239,739

902,153

874,444

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Douglas Paton BSc CA (Senior Statutory Auditor)

for and on behalf of Bannerman Johnstone Maclay Limited

9.	CONTINGENT LIABILITIES

There is a contingent liability for inter-company guarantees given to the company's bankers in respect of overdraft facilities given to group and related companies. This is supported by a bond and floating charge over all the assets of the company and a standard security over certain properties owned by the group.

10.	ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking and controlling party is R. M. Easdale & Company Limited, which prepares group financial statements. The registered office of R. M. Easdale & Company Limited is 121 Barfillan Drive, Glasgow, Scotland, G52 1BH.