W. Peters & Son Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: SC024280

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		134,203		140,260

			134,203		140,260
CURRENT ASSETS
Stocks	5	72,450		96,323
Debtors	6	29,373		29,073
Cash at bank and in hand		13,424		37,125

		115,247		162,521
Creditors: Amounts Falling Due Within One Year	7	(73,718 )		(66,803 )

NET CURRENT ASSETS (LIABILITIES)			41,529		95,718

TOTAL ASSETS LESS CURRENT LIABILITIES			175,732		235,978

Creditors: Amounts Falling Due After More Than One Year	8		-		(878 )

NET ASSETS			175,732		235,100

CAPITAL AND RESERVES
Called up share capital	10		10,000		10,000
Fair value reserve	12		85,024		85,024
Profit and Loss Account			80,708		140,076

SHAREHOLDERS' FUNDS			175,732		235,100

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W. Peters & Son Limited

Balance Sheet (continued)

As At 28 February 2026

For the year ending 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr C Peters

Director

03/09/2026

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

W. Peters & Son Limited is a private company, limited by shares, incorporated in Scotland, registered number SC024280 . The registered office is 59 High Street, Turriff, AB53 4EL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% on cost
Plant & equipment	20% on reducing balance
Motor Vehicles	25% on reducing balance
Computer Equipment	25% on cost

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2025: 12)

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W. Peters & Son Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2026

4. Tangible Assets

	Land & Property
	Freehold	Plant & equipment	Motor Vehicles	Computer Equipment	Total
	£	£	£	£	£
Cost or Valuation
As at 1 March 2025	146,853	643,153	14,750	219,727	1,024,483

As at 28 February 2026	146,853	643,153	14,750	219,727	1,024,483

Depreciation
As at 1 March 2025	27,912	626,598	13,643	216,070	884,223
Provided during the period	1,237	3,324	277	1,219	6,057

As at 28 February 2026	29,149	629,922	13,920	217,289	890,280

Net Book Value
As at 28 February 2026	117,704	13,231	830	2,438	134,203

As at 1 March 2025	118,941	16,555	1,107	3,657	140,260

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2026	2025
	£	£
Plant & equipment	4,045	5,056

Cost or valuation as at 28 February 2026 represented by:

	Land & Property
	Freehold	Plant & equipment	Motor Vehicles	Computer Equipment	Total
	£	£	£	£	£
At cost	61,829	643,153	14,750	219,727	939,459
At valuation	85,024	-	-	-	85,024

	146,853	643,153	14,750	219,727	1,024,483

If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:

	Land & Property
	Freehold
	£
Cost	61,829
Accumulated depreciation and impairment	29,149

Carrying amount	32,680

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W. Peters & Son Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2026

5. Stocks

	2026	2025
	£	£
Stock	61,038	85,086
Materials	11,412	11,237

	72,450	96,323

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	23,733	22,153
Prepayments	5,640	6,920

	29,373	29,073

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	878	2,633
Trade creditors	5,787	10,030
Bank loans and overdrafts	8,991	1,916
Other taxes and social security	2,108	1,777
VAT	7,785	5,545
Other creditors	-	38,000
Accruals	10,169	6,902
Directors' loan accounts	38,000	-

	73,718	66,803

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	-	878

9. Obligations Under Finance Leases and Hire Purchase

	2026	2025
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	878	2,633
Later than one year and not later than five years	-	878

	878	3,511

	878	3,511

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W. Peters & Son Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2026

10. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	10,000	10,000

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2026	2025
	£	£
Not later than one year	4,200	4,200
Later than one year and not later than five years	11,550	15,750

	15,750	19,950

12. Reserves

	Fair value reserve	Profit and Loss Account
	£	£
As at 1 March 2025	85,024	140,076
Loss for the year and total comprehensive income	-	(59,368 )

As at 28 February 2026	85,024	80,708

13. Related Party Transactions

Director's Loan

During the year, the loan from Mrs B Peters remain unchanged at £38,000. The loan is unsecured, interest free and repayable on demand.

14. Controlling Party

The company's controlling party is Craig Peters by virtue of his directorship and shareholdings in the company.

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