REGISTERED NUMBER: SC373148 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2026

for

Swan Engineering Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Swan

Mrs S L Swan

SECRETARY:

Mrs S Swan

REGISTERED OFFICE:

Station Road

Auchtermuchty

Fife

KY14 7DP

REGISTERED NUMBER:

SC373148 (Scotland)

ACCOUNTANTS:

Henderson Black & Co

Chartered Accountants

28 Rodger Street

Anstruther

Fife

KY10 3DU

FIXED ASSETS

Tangible assets

4

1,877,162

1,815,373

Investment property

5

178,603

178,603

2,055,765

1,993,976

CURRENT ASSETS

Stocks

937,088

487,301

Debtors

6

353,801

816,557

Cash at bank and in hand

548,411

632,127

1,839,300

1,935,985

CREDITORS

Amounts falling due within one year

7

677,683

778,196

NET CURRENT ASSETS

1,161,617

1,157,789

TOTAL ASSETS LESS CURRENT LIABILITIES

3,217,382

3,151,765

CREDITORS

Amounts falling due after more than one year

8

(342,257

)

(452,277

)

PROVISIONS FOR LIABILITIES

9

(353,690

)

(347,298

)

NET ASSETS

2,521,435

2,352,190

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,521,335

2,352,090

2,521,435

2,352,190

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 3 September 2026 and were signed on its behalf by:

D Swan - Director

1.	STATUTORY INFORMATION

Swan Engineering 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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years resented, unless otherwise stated.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily available from other sources. The estimates and associated assumptions are based on historical experience and other factors that are to be relevant. Actual results may differ from these estimates. In preparing these financial statements, the directors have made the following judgements:

Accruals

Directors estimate the requirements for accruals using post year end information. This identifies costs that are expected to be incurred for services provided by other parties. Accruals are only released when there is a reasonable expectation that these costs will not be invoiced in the future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes for the provision of manufacturing, installation and maintenance services.

Tangible fixed assets

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

Improvements to property

-

5% on cost

Plant and machinery

-

10% on reducing balance

Motor vehicles

-

25% on cost, straight line

Computer equipment

-

33% on cost, straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property

Investment property is shown at fair value, which the directors believe equates to the original cost. Any aggregate surplus or deficit arising from changes in fair value is recongnised in the profit and loss account.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using first-in, first-out basis. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities where payment is due within one year or less, recognised at transaction price.

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

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.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, it estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2025 - 45 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2025

753,745

1,480,592

164,997

29,181

2,428,515

Additions

11,081

166,512

141,265

1,198

320,056

Disposals

(5,842

)

(148,386

)

(36,675

)

(5,143

)

(196,046

)

At 31 March 2026

758,984

1,498,718

269,587

25,236

2,552,525

DEPRECIATION

At 1 April 2025

71,707

443,846

77,632

19,957

613,142

Charge for year

37,949

114,909

26,459

4,618

183,935

Eliminated on disposal

-

(94,221

)

(22,350

)

(5,143

)

(121,714

)

At 31 March 2026

109,656

464,534

81,741

19,432

675,363

NET BOOK VALUE

At 31 March 2026

649,328

1,034,184

187,846

5,804

1,877,162

At 31 March 2025

682,038

1,036,746

87,365

9,224

1,815,373

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

and 31 March 2026

178,603

NET BOOK VALUE

At 31 March 2026

178,603

At 31 March 2025

178,603

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

323,448

382,897

Other debtors

-

420,252

Prepayments

30,353

13,408

353,801

816,557

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans and overdrafts

10,000

194,242

Hire purchase contracts

78,321

77,155

Trade creditors

338,764

206,108

Corporation tax

67,445

84,827

Social security and other taxes

29,128

27,412

VAT

16,307

85,919

Directors' current accounts

106,482

66,203

Accrued expenses

31,236

36,330

677,683

778,196

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans

38,332

48,331

Deferred grant income

257,700

279,400

Hire purchase contracts

46,225

124,546

342,257

452,277

9.	PROVISIONS FOR LIABILITIES

31.3.26

31.3.25

£

£

Deferred tax

353,690

347,298

Deferred

tax

£

Balance at 1 April 2025

347,298

Provided during year

6,392

Balance at 31 March 2026

353,690

10.	RELATED PARTY DISCLOSURES

Included within Other Debtors last year was a loan advanced to the parents of a director/shareholder. At the year end the sum outstanding was £370,252. The loan was unsecured and repayable on demand. Interest was charged at base rate until it was repaid in full on 8 September 2025.