Company No: SC711752 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	11,920		10,560
		11,920		10,560
Current assets
Debtors	4	80,177		63,266
Cash at bank and in hand		57,417		50,367
		137,594		113,633
Creditors: amounts falling due within one year	5	( 76,158)		( 56,632)
Net current assets		61,436		57,001
Total assets less current liabilities		73,356		67,561
Provision for liabilities	6	( 1,451)		( 2,539)
Net assets		71,905		65,022
Capital and reserves
Called-up share capital	7	4		2
Profit and loss account		71,901		65,020
Total shareholders' funds		71,905		65,022

For the financial year ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Speyside Labs Ltd (registered number: SC711752) were approved and authorised for issue by the Board of Directors on 08 September 2026. They were signed on its behalf by:

William Binnie Director

Stephen Hamilton Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Speyside Labs Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is The Speyside Business Centre, 8 West Street, Fochabers, IV32 7DJ, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets is reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles	20 % reducing balance
Tools and equipment	25 % reducing balance
Computer equipment	3 years straight line

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities include creditors, which are recognised at transaction price.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Vehicles		Tools and equipment		Computer equipment		Total
	£		£		£		£
Cost
At 01 April 2025	0		406		12,243		12,649
Additions	5,998		0		492		6,490
At 31 March 2026	5,998		406		12,735		19,139
Accumulated depreciation
At 01 April 2025	0		213		1,876		2,089
Charge for the financial year	1,000		48		4,082		5,130
At 31 March 2026	1,000		261		5,958		7,219
Net book value
At 31 March 2026	4,998		145		6,777		11,920
At 31 March 2025	0		193		10,367		10,560

4. Debtors

	2026		2025
	£		£
Trade debtors	79,960		63,266
Other debtors	217		0
	80,177		63,266

5. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	7,268		2,160
Taxation and social security	64,294		51,515
Other creditors	4,596		2,957
	76,158		56,632

6. Deferred tax

	2026		2025
	£		£
At the beginning of financial year	( 2,539)		( 532)
Credited/(charged) to the Statement of Income and Retained Earnings	1,088		( 2,007)
At the end of financial year	( 1,451)		( 2,539)

7. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 (2025: 2 shares of £ 1.00 each)	1		2
1 A ordinary share of £ 1.00 (2025: nil shares)	1		0
1 B ordinary share of £ 1.00 (2025: nil shares)	1		0
1 C ordinary share of £ 1.00 (2025: nil shares)	1		0
	4		2

8. Related party transactions

Transactions with the entity's directors

	2026		2025
	£		£
Key Management Personnel	159		(275)

The balance due at the start of the period was £275. During the year, advances of £434were made. At 31 March 2026 £159 was owed to the company. This balance has no fixed repayment terms.