REGISTERED NUMBER: SC616763 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

JTCO Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

340,664

256,517

CURRENT ASSETS

Stocks

666,417

539,387

Debtors

5

592,100

476,990

Cash at bank

126,867

86,810

1,385,384

1,103,187

CREDITORS

Amounts falling due within one year

6

(1,152,288

)

(797,775

)

NET CURRENT ASSETS

233,096

305,412

TOTAL ASSETS LESS CURRENT LIABILITIES

573,760

561,929

CREDITORS

Amounts falling due after more than one year

7

(117,181

)

(141,343

)

PROVISIONS FOR LIABILITIES

(75,793

)

(44,170

)

NET ASSETS

380,786

376,416

CAPITAL AND RESERVES

Called up share capital

200,156

200,150

Share premium

29,850

29,850

Retained earnings

150,780

146,416

380,786

376,416

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 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 15 June 2026 and were signed on its behalf by:

Mr B Anderson - Director

1.	STATUTORY INFORMATION

JTCO Limited is a private company, limited by shares, domiciled in Scotland, registration number SC616763. The registered office is Friarton Bridge Park, Friarton Road, Perth, PH2 8DD.

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.

Turnover

Turnover represents net invoiced sales of goods and services in respect of veneer sheets and wood-based panels, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Tangible fixed assets and depreciation

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.

Leasehold improvements

-

15% on reducing balance

Plant and equipment

-

15% on reducing balance

Fixtures and fittings

-

33% on cost and 15% on reducing balance

Motor vehicles

-

33% on cost

Computer equipment

-

33% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

improvements

equipment

fittings

£

£

£

COST

At 1 January 2025

5,155

223,125

183,441

Additions

2,123

32,586

585

Disposals

-

-

-

At 31 December 2025

7,278

255,711

184,026

DEPRECIATION

At 1 January 2025

1,810

62,845

129,729

Charge for year

528

26,171

25,327

Eliminated on disposal

-

-

-

At 31 December 2025

2,338

89,016

155,056

NET BOOK VALUE

At 31 December 2025

4,940

166,695

28,970

At 31 December 2024

3,345

160,280

53,712

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2025

119,585

20,269

551,575

Additions

161,257

3,140

199,691

Disposals

(47,215

)

-

(47,215

)

At 31 December 2025

233,627

23,409

704,051

DEPRECIATION

At 1 January 2025

85,220

15,454

295,058

Charge for year

58,767

2,597

113,390

Eliminated on disposal

(45,061

)

-

(45,061

)

At 31 December 2025

98,926

18,051

363,387

NET BOOK VALUE

At 31 December 2025

134,701

5,358

340,664

At 31 December 2024

34,365

4,815

256,517

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

Plant and

Motor

equipment

vehicles

Totals

£

£

£

COST

At 1 January 2025

85,514

78,229

163,743

Additions

23,490

161,257

184,747

Disposals

-

(25,849

)

(25,849

)

Transfer to ownership

(53,795

)

-

(53,795

)

At 31 December 2025

55,209

213,637

268,846

DEPRECIATION

At 1 January 2025

32,849

43,864

76,713

Charge for year

9,074

58,767

67,841

Eliminated on disposal

-

(23,695

)

(23,695

)

Transfer to ownership

(33,631

)

-

(33,631

)

At 31 December 2025

8,292

78,936

87,228

NET BOOK VALUE

At 31 December 2025

46,917

134,701

181,618

At 31 December 2024

52,665

34,365

87,030

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

539,818

451,058

Other debtors

52,282

25,932

592,100

476,990

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans and overdrafts

373,575

71,206

Hire purchase contracts

98,674

35,880

Trade creditors

323,258

315,526

Taxation and social security

189,305

251,186

Other creditors

167,476

123,977

1,152,288

797,775

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans

19,873

94,625

Hire purchase contracts

97,308

46,718

117,181

141,343

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.25

31.12.24

£

£

Hire purchase contracts

195,982

82,598

Amounts due on hire purchase are secured over the individual assets concerned.