REGISTERED NUMBER: SC387361 (Scotland)

Unaudited Financial Statements

for the Period 1 December 2024 to 28 February 2026

for

J. C. & N. Still Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs C A Still

Mr N Z Still

REGISTERED OFFICE:

46 High Street

Banchory

Kincardineshire

AB31 5SR

REGISTERED NUMBER:

SC387361 (Scotland)

ACCOUNTANTS:

The Grant Considine Partnership

Chartered Accountants

46 High Street

Banchory

Aberdeenshire

AB31 5SR

FIXED ASSETS

Tangible assets

5

-

503,279

CURRENT ASSETS

Stocks

-

2,000

Debtors

6

322,459

1

Cash in hand

-

1,100

322,459

3,101

CREDITORS

Amounts falling due within one year

7

213,664

509,251

NET CURRENT ASSETS/(LIABILITIES)

108,795

(506,150

)

TOTAL ASSETS LESS CURRENT LIABILITIES

108,795

(2,871

)

PROVISIONS FOR LIABILITIES

-

12,419

NET ASSETS/(LIABILITIES)

108,795

(15,290

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

108,695

(15,390

)

SHAREHOLDERS' FUNDS

108,795

(15,290

)

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

The members have not required the company to obtain an audit of its financial statements for the period 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 June 2026 and were signed on its behalf by:

Mr N Z Still - Director

1.	STATUTORY INFORMATION

J. C. & N. Still 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Revenue recognition

Turnover is measured at fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income is recognised when the service has been provided, when the amount of revenue can be measured reliably and when its probable that future economic benefits will flow to the entity. If a customer has not been invoiced for services provided during the period the income is accrued and included in debtors under prepayments and accrued income.

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

-

2% on cost

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 5% on cost

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses.

Inventories

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 financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

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

Taxation

Taxation for the period 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

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 period 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2024 - 6 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 December 2024

674,263

108,489

782,752

Disposals

(674,263

)

(108,489

)

(782,752

)

At 28 February 2026

-

-

-

DEPRECIATION

At 1 December 2024

186,430

93,043

279,473

Eliminated on disposal

(186,430

)

(93,043

)

(279,473

)

At 28 February 2026

-

-

-

NET BOOK VALUE

At 28 February 2026

-

-

-

At 30 November 2024

487,833

15,446

503,279

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2024

£

£

Other debtors

322,459

1

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2024

£

£

Bank loans and overdrafts

-

277,961

Trade creditors

9,162

6,975

Taxation and social security

6,891

26,196

Other creditors

197,611

198,119

213,664

509,251

8.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2024

£

£

Bank overdraft

-

15,810

Santander Bank Loan

-

262,151

-

277,961

The bank overdraft is secured by a personal guarantee provided by Mr A J & Mrs C Still, the directors of the company, for £25,000.

The Santander Bank Loan is secured by a floating charge over all the company assets and undertaking. A first ranking standard security from J.C & N Still Ltd over The Flotterstone Inn and The Flotterstone Cottage, Penicuik, EH26 0PP and a second ranking security for Archibald and Carol Still over property 23 Edderston Ridge, Peebles EH45 9NA. There is also a joint and several personal guarantee from the directors in respect of the obligations to the Lender in relation to the guarantee. (Limited to £62,500.00).