REGISTERED NUMBER: SC147636 (Scotland)

Financial Statements for the Year Ended 30 November 2025

for

Safety Welding and Lifting

(International) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M M McDonald

R M Sutherland

SECRETARY:

LC Secretaries Limited

REGISTERED OFFICE:

Rosskeen Old Manse

Invergordon

Ross-shire

IV18 0PR

REGISTERED NUMBER:

SC147636 (Scotland)

SENIOR STATUTORY AUDITOR:

Greg Stapley

AUDITORS:

Sumer Auditco Limited

Statutory Auditors

Saltire Centre

Pentland House

Glenrothes

KY6 2AH

FIXED ASSETS

Tangible assets

4

228,604

267,792

CURRENT ASSETS

Stocks

5

357,375

348,282

Debtors

6

431,177

396,289

Cash at bank and in hand

294,744

131,859

1,083,296

876,430

CREDITORS

Amounts falling due within one year

7

458,753

330,511

NET CURRENT ASSETS

624,543

545,919

TOTAL ASSETS LESS CURRENT LIABILITIES

853,147

813,711

PROVISIONS FOR LIABILITIES

8

13,497

19,583

NET ASSETS

839,650

794,128

CAPITAL AND RESERVES

Called up share capital

9

28,572

28,572

Share premium

10

1,428

1,428

Retained earnings

10

809,650

764,128

SHAREHOLDERS' FUNDS

839,650

794,128

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 28 August 2026 and were signed on its behalf by:

R M Sutherland - Director

1.	STATUTORY INFORMATION

Safety Welding and Lifting (International) 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 (£).

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.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions that affect the amounts reported for assets, liabilities, income and expenditure.

The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in future periods should it affect future periods.

The estimates and assumptions which carry a higher degree of risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Useful economic lives of tangible fixed assets

The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. They are amended when necessary to reflect current estimates, future investment, economic utilisation and the physical condition of the assets. Details of the values of tangible fixed assets are included in the notes to the financial statements.

Turnover

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

Tangible fixed assets

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

Land and buildings

-

at varying rates on cost

Plant and machinery etc

-

varying rates on cost & 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Going concern

These financial statements have been prepared on a going concern basis. The directors are required to state whether it is appropriate to adopt the going concern basis of accounting in preparing the financial statements, and to identify any material uncertainties as to the Company's ability to continue as a going concern over a period of at least 12 months from the date of approval of the financial statements. The period of management's going concern assessment is the period to 30 November 2027.

The company's historical trading results have created substantial reserves and the cash and net asset position remain strong. The company held bank balances of £295k and net assets of £840k at 30 November 2025.

The Company has reviewed its forecasts and projections for the going concern assessment period to November 2027. Based on the anticipated demand for services, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the period to 30 November 2026. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 December 2024

412,875

371,880

784,755

Additions

940

3,720

4,660

Disposals

(2,500

)

-

(2,500

)

At 30 November 2025

411,315

375,600

786,915

DEPRECIATION

At 1 December 2024

243,730

273,233

516,963

Charge for year

10,967

31,775

42,742

Eliminated on disposal

(1,394

)

-

(1,394

)

At 30 November 2025

253,303

305,008

558,311

NET BOOK VALUE

At 30 November 2025

158,012

70,592

228,604

At 30 November 2024

169,145

98,647

267,792

5.

STOCKS

30/11/25

30/11/24

£

£

Stocks

357,375

348,282

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/25

30/11/24

£

£

Trade debtors

387,810

324,943

Amounts owed by group undertakings

604

-

Other debtors

42,763

71,346

431,177

396,289

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/25

30/11/24

£

£

Trade creditors

86,663

64,081

Amounts owed to group undertakings

211,225

167,289

Taxation and social security

125,699

85,951

Other creditors

35,166

13,190

458,753

330,511

8.	PROVISIONS FOR LIABILITIES

30/11/25

30/11/24

£

£

Deferred tax

13,497

19,583

Deferred

tax

£

Balance at 1 December 2024

19,583

Credit to Income Statement during year

(6,086

)

Balance at 30 November 2025

13,497

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/11/25

30/11/24

value:

£

£

8,572

Ordinary A

1

8,572

8,572

20,000

Ordinary B

1

20,000

20,000

28,572

28,572

10.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 December 2024

764,128

1,428

765,556

Profit for the year

45,522

45,522

At 30 November 2025

809,650

1,428

811,078

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

The Report of the Auditors was unqualified.

Greg Stapley (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

12.	BOND, FLOATING CHARGES AND STANDARD SECURITIES

The following charge was held as at 30 November 2025:

- a bond and floating charge is held by The Governor and the Company of the Bank of Scotland over the assets of the company.

13.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

14.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

15.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Rosskeen Holdings Limited.

The company is wholly owned subsidiary of Rosskeen Holdings Limited.

Since 24 November 2025, R Sutherland (2024: M McDonald), a director of Safety Welding and Lifting Holdings Limited, is the majority shareholder of Rosskeen Holdings Limited.

16.	PROPOSED DISPOSAL OF SUBSIDIARY

Subsequent to the reporting date, the Group commenced a process to dispose of its wholly-owned subsidiary, Safety & Welding International Limited. Heads of Terms in respect of the proposed transaction have been signed post year end. At the date of approval of these financial statements, no Sale and Purchase Agreement has been signed and the transaction remains subject to the negotiation and execution of definitive legal agreements and the satisfaction of other customary conditions.

The proposed disposal is considered to be a non-adjusting post balance sheet event, as the decision to dispose of the subsidiary and the subsequent signing of the Heads of Terms occurred after the reporting date. Accordingly, no adjustment has been made to the amounts recognised in these financial statements in respect of the proposed disposal.