THOMAS MUIR (METALS) LIMITED


Directors	George Muir
	Thomas Muir


Company Secretary	George Charles Muir


Registered Address	Dunnikier Works Den Road
	Kirkcaldy
	KY1 2ER


Registered Number	SC047307 (Scotland)

Balance Sheet as at
30 November 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		30,618		30,618
Tangible assets	4		12,310		16,413
Investments	5		21,429		21,429
			64,357		68,460
Current assets
Stocks		343,014		301,014
Debtors	6	1,995,602		1,974,539
Cash at bank and on hand		-		174,247
		2,338,616		2,449,800
Creditors amounts falling due within one year	7	(928,415)		(990,623)
Net current assets (liabilities)			1,410,201		1,459,177
Total assets less current liabilities			1,474,558		1,527,637
Provisions for liabilities			(2,339)		(3,118)
Net assets			1,472,219		1,524,519
Capital and reserves
Called up share capital			400		400
Profit and loss account			1,471,819		1,524,119
Shareholders' funds			1,472,219		1,524,519

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 7 August 2026, and are signed on its behalf by:

Thomas Muir
Director
Registered Company No. SC047307

THOMAS MUIR (METALS) LIMITED

Notes to the Financial Statements
for the year ended 30 November 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Turnover policy
	Turnover represents the total invoice value of sales, excluding vat, made during the year.

	Employee benefits
	The company operates a defined contribution pension scheme. Contributions payable to the companys pension scheme are charged to profit or loss in the period to which they relate.

	Current 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.

Current 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.

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.

	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. The intangible fixed asset comprises several personalised car number plates which are recorded at cost. The directors consider these number plates to have an indefinite useful life. As such no amortisation is charged but the carrying value is subject to an annual impairment review in accordance with the requirements of FRS11.

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.

The intangible fixed asset comprises several personalised car number plates which are recorded at cost. The
directors consider these number plates to have an indefinite useful life. As such no amortisation is charged but
the carrying value is subject to an annual impairment review in accordance with the requirements of FRS11.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Long leasehold - straight line over period of lease Plant and machinery - 33.3% on cost, 20% on cost and 16.67% on cost Motor vehicles - 25% on reducing balance

	Investments
	Fixed asset investments are stated at cost less provision for any diminution in value.

	Stocks and work in progress
	Stock, which comprises of scrap metal and goods for resale, are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost comprises all direct expenditure incurred in bringing stock to its current location and condition.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	9		7

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 December 24	30,618	30,618
At 30 November 25	30,618	30,618
Net book value
At 30 November 25	30,618	30,618
At 30 November 24	30,618	30,618

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Total
	£	£	£	£
Cost or valuation
At 01 December 24	104,811	234,029	39,000	377,840
At 30 November 25	104,811	234,029	39,000	377,840
Depreciation and impairment
At 01 December 24	104,811	234,029	22,587	361,427
Charge for year	-	-	4,103	4,103
At 30 November 25	104,811	234,029	26,690	365,530
Net book value
At 30 November 25	-	-	12,310	12,310
At 30 November 24	-	-	16,413	16,413

5.	Fixed asset investments

	Other investments¹	Total
	£	£
Cost or valuation
At 01 December 24	21,429	21,429
At 30 November 25	21,429	21,429
Net book value
At 30 November 25	21,429	21,429
At 30 November 24	21,429	21,429

	Notes
	¹Other investments other than loans

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	766,784	748,150
Amounts owed by group undertakings	1,209,725	1,186,679
Other debtors	7,475	25,538
Prepayments and accrued income	11,618	14,172
Total	1,995,602	1,974,539

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	191,293	137,886
Bank borrowings and overdrafts	5,267	-
Amounts owed to related parties	377,277	395,875
Taxation and social security	96,738	110,098
Other creditors	255,390	343,608
Accrued liabilities and deferred income	2,450	3,156
Total	928,415	990,623


	The Royal Bank of Scotland PLC hold a floating charge.