REGISTERED NUMBER: SC262391 (Scotland)

Financial Statements for the Year Ended 28 February 2026

for

Paintline Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Miss K McKinlay

Mr S J McKinlay

Secretary:

Mrs C McKinlay

Registered office:

88-92 Cambuslang Road

Rutherglen

Glasgow

G73 1BQ

Registered number:

SC262391 (Scotland)

Accountant:

Audrey Wolfson

10 Southern Avenue

Glasgow

G73 4JN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

570,459

324,019

570,459

324,019

CURRENT ASSETS

Stocks

443,259

403,421

Debtors

6

736,599

647,125

Investments

7

5,000

5,000

Cash at bank and in hand

331,493

372,650

1,516,351

1,428,196

CREDITORS

Amounts falling due within one year

8

762,713

626,149

NET CURRENT ASSETS

753,638

802,047

TOTAL ASSETS LESS CURRENT LIABILITIES

1,324,097

1,126,066

CREDITORS

Amounts falling due after more than one year

9

(126,746

)

(28,242

)

PROVISIONS FOR LIABILITIES

(30,117

)

(16,427

)

NET ASSETS

1,167,234

1,081,397

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Revaluation reserve

12

191,680

-

Retained earnings

974,554

1,080,397

SHAREHOLDERS' FUNDS

13

1,167,234

1,081,397

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2026 and were signed on its behalf by:

Miss K McKinlay - Director

1.	STATUTORY INFORMATION

Paintline 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 as modified by the revaluation of certain assets.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made are described below:

Estimated useful lives and residual values of fixed assets

As described under the Tangible Fixed Asset heading of this accounting policies note, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as applicable. The reviews take into account estimated useful lives used by other companies operating within the same sector and actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

4% on cost and not provided

Plant and machinery etc

-

25% on cost and 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

The following assets and liabilities are classified as basic financial instruments -

trade debtors, trade creditors and directors' loans.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

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.

Asset revaluation policy

Land and buildings are carried at fair value, less subsequent depreciation and impairment. Revaluations are performed regularly to ensure carrying amounts align with fair value. Revaluation increases are credited to the Revaluation Reserve, while decreases first reduce previous surpluses in other comprehensive income, with any excess charged to the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2025 - 24 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2025

and 28 February 2026

87,500

AMORTISATION

At 1 March 2025

and 28 February 2026

87,500

NET BOOK VALUE

At 28 February 2026

-

At 28 February 2025

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 March 2025

322,900

371,643

694,543

Additions

-

86,392

86,392

Revaluations

127,100

-

127,100

At 28 February 2026

450,000

458,035

908,035

DEPRECIATION

At 1 March 2025

64,580

305,944

370,524

Charge for year

-

31,632

31,632

Revaluation adjustments

(64,580

)

-

(64,580

)

At 28 February 2026

-

337,576

337,576

NET BOOK VALUE

At 28 February 2026

450,000

120,459

570,459

At 28 February 2025

258,320

65,699

324,019

Cost or valuation at 28 February 2026 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2026

127,100

-

127,100

Cost

322,900

458,035

780,935

450,000

458,035

908,035

If the freehold buildings had not been revalued they would have been included at the following historical cost:

28.2.26

28.2.25

£

£

Cost

322,900

322,900

Aggregate depreciation

64,580

64,580

the freehold buildings were valued on an open market basis on 26 September 2025 by Shepherd Commercial .

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

Plant and

machinery

etc

£

COST OR VALUATION

At 1 March 2025

89,480

Additions

78,915

At 28 February 2026

168,395

DEPRECIATION

At 1 March 2025

50,123

Charge for year

22,382

At 28 February 2026

72,505

NET BOOK VALUE

At 28 February 2026

95,890

At 28 February 2025

39,357

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

£

Trade debtors

722,598

640,921

Other debtors

14,001

6,204

736,599

647,125

7.	CURRENT ASSET INVESTMENTS

28.2.26

28.2.25

£

£

Unlisted investments

5,000

5,000

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

£

Bank loans and overdrafts

23,232

-

Hire purchase contracts (see note 10)

36,077

17,579

Trade creditors

617,995

513,160

Taxation and social security

59,446

58,870

Other creditors

25,963

36,540

762,713

626,149

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.26

28.2.25

£

£

Bank loans

76,787

-

Hire purchase contracts (see note 10)

49,959

28,242

126,746

28,242

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

28.2.26

28.2.25

£

£

Net obligations repayable:

Within one year

36,077

17,579

Between one and five years

49,959

28,242

86,036

45,821

Non-cancellable

operating leases

28.2.26

28.2.25

£

£

Within one year

2,750

10,463

Between one and five years

68,811

74,890

71,561

85,353

11.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.26

28.2.25

£

£

Bank loans

100,019

-

Hire purchase contracts

86,036

45,821

186,055

45,821

All hire purchase agreements are secured on the assets financed.

12.

RESERVES

Revaluation

reserve

£

Revaluation reserve

191,680

At 28 February 2026

191,680

13.	RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

28.2.26

28.2.25

£

£

Loss for the financial year

(57,843

)

(67,382

)

Dividends

(48,000

)

(9,000

)

(105,843

)

(76,382

)

Revaluations

191,680

(20,734

)

Net addition/(reduction) to shareholders' funds

85,837

(97,116

)

Opening shareholders' funds

1,081,397

1,178,513

Closing shareholders' funds

1,167,234

1,081,397