REGISTERED NUMBER: SC281824 (Scotland)

Unaudited Financial Statements for the Year Ended 30 April 2026

for

Philip Industrial Limited

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

62,550

48,673

CURRENT ASSETS

Stocks

170,574

172,156

Debtors

5

122,473

129,765

Cash at bank

146,300

117,136

439,347

419,057

CREDITORS

Amounts falling due within one year

6

(174,204

)

(178,753

)

NET CURRENT ASSETS

265,143

240,304

TOTAL ASSETS LESS CURRENT LIABILITIES

327,693

288,977

CREDITORS

Amounts falling due after more than one year

7

-

(2,500

)

PROVISIONS FOR LIABILITIES

(10,697

)

(6,054

)

NET ASSETS

316,996

280,423

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

316,995

280,422

SHAREHOLDERS' FUNDS

316,996

280,423

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 11 August 2026 and were signed by:

Roy William Philip - Director

1.	STATUTORY INFORMATION

Philip Industrial Limited is a private company, limited by shares, domiciled in Scotland, registration number SC281824 . The registered office is Unit 5 Gateway Business Park, Beancross Road, Grangemouth, Stirlingshire, Scotland, FK3 8WX .

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 represents net invoiced sales of goods and services in respect of the sale of power tools, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Tangible fixed assets and depreciation

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

Tenants improvements

-

10% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2025 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Tenants

and

Motor

Computer

improvements

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 May 2025

29,478

16,414

37,940

9,561

93,393

Additions

-

5,857

21,990

444

28,291

Disposals

-

-

(2,350

)

(4,399

)

(6,749

)

At 30 April 2026

29,478

22,271

57,580

5,606

114,935

DEPRECIATION

At 1 May 2025

12,670

7,371

15,758

8,921

44,720

Charge for year

2,948

2,675

8,327

229

14,179

Eliminated on disposal

-

-

(2,115

)

(4,399

)

(6,514

)

At 30 April 2026

15,618

10,046

21,970

4,751

52,385

NET BOOK VALUE

At 30 April 2026

13,860

12,225

35,610

855

62,550

At 30 April 2025

16,808

9,043

22,182

640

48,673

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.26

30.4.25

£

£

Trade debtors

112,473

119,765

Other debtors

10,000

10,000

122,473

129,765

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.26

30.4.25

£

£

Bank loans and overdrafts

2,500

10,000

Trade creditors

61,439

68,522

Taxation and social security

45,481

39,074

Other creditors

64,784

61,157

174,204

178,753

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.26

30.4.25

£

£

Bank loans

-

2,500