J.E. Sheeran (Amusement Arcades) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC058340

J.E. Sheeran (Amusement Arcades) Limited

Filleted Unaudited Financial Statements

31 December 2025

J.E. Sheeran (Amusement Arcades) Limited

Financial Statements

Year ended 31 December 2025

Contents	Page

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

J.E. Sheeran (Amusement Arcades) Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of J.E. Sheeran (Amusement Arcades) Limited

Year ended 31 December 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J.E. Sheeran (Amusement Arcades) Limited for the year ended 31 December 2025, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of J.E. Sheeran (Amusement Arcades) Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of J.E. Sheeran (Amusement Arcades) Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J.E. Sheeran (Amusement Arcades) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that J.E. Sheeran (Amusement Arcades) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of J.E. Sheeran (Amusement Arcades) Limited. You consider that J.E. Sheeran (Amusement Arcades) Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of J.E. Sheeran (Amusement Arcades) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

GILLILAND & COMPANY Chartered Accountants

216 West George Street Glasgow G2 2PQ

8 September 2026

J.E. Sheeran (Amusement Arcades) Limited

Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	323,612	329,528

Current assets

Stocks		2,859	3,459
Debtors	6	17,152	18,060
Cash at bank and in hand		33,636	25,106
		--------	--------
		53,647	46,625

Creditors: amounts falling due within one year	7	334,946	334,143
		---------	---------
Net current liabilities		281,299	287,518
		---------	---------
Total assets less current liabilities		42,313	42,010

Creditors: amounts falling due after more than one year	8	4,074	13,041
		--------	--------
Net assets		38,239	28,969
		--------	--------

Capital and reserves

Called up share capital	170,000	170,000
Other reserves	133,745	133,745
Profit and loss account	( 265,506)	( 274,776)
	---------	---------
Shareholders funds	38,239	28,969
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2025 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 year in question in accordance with section 476 ;

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

J.E. Sheeran (Amusement Arcades) Limited

Statement of Financial Position (continued)

31 December 2025

These financial statements were approved by the board of directors and authorised for issue on 8 September 2026 , and are signed on behalf of the board by:

Mr E A Sheeran

Director

Company registration number: SC058340

J.E. Sheeran (Amusement Arcades) Limited

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 18 Argyle Street, Stonehouse, Lanarkshire, ML9 3LL.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change of value.

Going concern

The company has net current liabilities of £281,299 (2024 - £287,518) and net assets of £38,239 (2024 - £28,969). Included within other creditors is an amount due to the directors of £232,730 (2024 - £196,587). The directors have confirmed that they will not seek early repayment of these sums and will continue to provide financial support to allow the company to meet its liabilities. Consequently, the financial statements have been prepared on a going concern basis and no adjustments have been made to to the assets or liabilities which may arise should the company cease to trade.

Revenue recognition

Turnover is measured at the 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 tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land and buildings	-	2% straight line
Plant and machinery	-	20%, 33.3% & 50% straight line
Motor vehicles	-	25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. At each reporting date, as assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 12 (2024: 12 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2025	65,000	1,006,962	56,910	1,128,872
Additions	–	62,367	–	62,367
Disposals	–	( 32,940)	–	( 32,940)
	--------	------------	--------	------------
At 31 December 2025	65,000	1,036,389	56,910	1,158,299
	--------	------------	--------	------------
Depreciation
At 1 January 2025	11,700	750,072	37,572	799,344
Charge for the year	1,300	60,537	6,446	68,283
Disposals	–	( 32,940)	–	( 32,940)
	--------	------------	--------	------------
At 31 December 2025	13,000	777,669	44,018	834,687
	--------	------------	--------	------------
Carrying amount
At 31 December 2025	52,000	258,720	12,892	323,612
	--------	------------	--------	------------
At 31 December 2024	53,300	256,890	19,338	329,528
	--------	------------	--------	------------

6. Debtors

	2025	2024
	£	£
Trade debtors	–	972
Prepayments and accrued income	14,526	14,443
Other debtors	2,626	2,645
	--------	--------
	17,152	18,060
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	15,376	22,624
Trade creditors	35,496	44,105
Accruals and deferred income	6,485	7,297
Social security and other taxes	18,791	18,079
Obligations under finance leases and hire purchase contracts	2,592	25,710
Other creditors	256,206	216,328
	---------	---------
	334,946	334,143
	---------	---------

Obligations under finance leases are secured on the relevant assets to which they relate.

The Bank of Scotland holds a standard security over the freehold property and a bond and floating charge over the assets of the company.

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	4,074	13,041
	-------	--------

9. Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £18,000 (2024 - £18,000).

10. Other reserves

The Other reserve arises on the transfer of the revaluation reserve on transition to FRS 102. Distributions from this reserve are not permitted as the balance does not represent a realised profit.

11. Related party transactions

Included within Other creditors is a balance due to the company's directors for £232,730 (2024 - £196,587); the loan is interest free, unsecured and repayable on demand.