REGISTERED NUMBER: SC405584 (Scotland)

Financial Statements For The Year Ended 30 November 2025

for

J & P Innes Ltd

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J Innes

Mrs P Innes

REGISTERED OFFICE:

c/o Robb Ferguson

Regent Court, 70 West Regent Street

Glasgow

G2 2QZ

REGISTERED NUMBER:

SC405584 (Scotland)

ACCOUNTANTS:

Robb Ferguson Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Intangible assets

4

4,079,617

4,352,608

Tangible assets

5

1,107,027

815,842

Investments

6

3,740,981

582,720

8,927,625

5,751,170

CURRENT ASSETS

Stocks

376,288

310,912

Debtors

7

3,655,150

720,199

Cash at bank and in hand

1,001,735

663,534

5,033,173

1,694,645

CREDITORS

Amounts falling due within one year

3,044,930

2,327,204

NET CURRENT ASSETS/(LIABILITIES)

1,988,243

(632,559

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,915,868

5,118,611

CREDITORS

Amounts falling due after more than one year

8

(10,302,056

)

(4,527,422

)

PROVISIONS FOR LIABILITIES

(68,433

)

(85,420

)

NET ASSETS

545,379

505,769

CAPITAL AND RESERVES

Called up share capital

10

10

Share premium

1,645

1,645

Retained earnings

543,724

504,114

SHAREHOLDERS' FUNDS

545,379

505,769

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 30 November 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2026 and were signed on its behalf by:

J Innes - Director

1.	STATUTORY INFORMATION

J & P Innes Ltd 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.

Turnover

Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of businesses, is being written off evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Improvements to property

-

15% on reducing balance

Fixed plant and equipment

-

33.33% on cost and 10% on cost

Fixtures and fittings

-

15% on reducing balance and Over the term of the lease

Motor vehicles

-

25% 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.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rental payable under operating leases are charged against income on a straight line basis over the lease term.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 51 (2024 - 49 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2024

and 30 November 2025

6,710,298

AMORTISATION

At 1 December 2024

2,357,690

Amortisation for year

272,991

At 30 November 2025

2,630,681

NET BOOK VALUE

At 30 November 2025

4,079,617

At 30 November 2024

4,352,608

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2024

1,121,273

Additions

394,629

At 30 November 2025

1,515,902

DEPRECIATION

At 1 December 2024

305,431

Charge for year

103,444

At 30 November 2025

408,875

NET BOOK VALUE

At 30 November 2025

1,107,027

At 30 November 2024

815,842

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 December 2024

and 30 November 2025

126,495

DEPRECIATION

At 1 December 2024

31,624

Charge for year

23,718

At 30 November 2025

55,342

NET BOOK VALUE

At 30 November 2025

71,153

At 30 November 2024

94,871

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 December 2024

582,720

Additions

3,158,261

At 30 November 2025

3,740,981

NET BOOK VALUE

At 30 November 2025

3,740,981

At 30 November 2024

582,720

The companies investments at the Statement of Financial Position date in the share capital of companies include the following:

Fergusson Petershill Limited:

Registered office: Robb Fergusson, Regent Court, 70 West Regent Street, Glasgow, G2 2QZ

P & C Paterson Ltd:

Registered office: Robb Fergusson, Regent Court, 70 West Regent Street, Glasgow, G2 2QZ

Marnell Pharmacy Ltd:

Registered office: Robb Fergusson, Regent Court, 70 West Regent Street, Glasgow, G2 2QZ

7.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other debtors

5,300

5,300

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2025

2024

£

£

Repayable by instalments

Bank loans greater than 5

years

-

3,070,583

-

3,070,583

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

14,596

14,596

Between one and five years

66,339

80,935

80,935

95,531

Non-cancellable

operating leases

2025

2024

£

£

Within one year

23,644

23,644

Between one and five years

94,576

94,576

In more than five years

248,531

272,174

366,751

390,394

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

10,696,780

4,774,319

HP creditors

80,935

95,531

10,777,715

4,869,850

The Bank of Scotland plc holds a floating charge and negative pledge over the company's assets.