The Parkhead Welding Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC060280 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

THE PARKHEAD WELDING COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Arbuckle

W Rafferty

A Morgan

A J MacDonald

SECRETARY:

Mrs N Macdonald

REGISTERED OFFICE:

201 Baltic Street

Dalmarnock

Glasgow

G40 3HA

REGISTERED NUMBER:

SC060280 (Scotland)

ACCOUNTANTS:

Robert J Hart & Company

Chartered Accountants

Arran House

15D Skye Road

Prestwick

Ayrshire

KA9 2TA

FIXED ASSETS

Tangible assets

4

647,137

765,997

CURRENT ASSETS

Stocks

177,812

194,423

Debtors

5

242,633

251,098

Investments

6

131,524

126,095

Cash at bank

401,516

605,458

953,485

1,177,074

CREDITORS

Amounts falling due within one year

7

276,675

392,200

NET CURRENT ASSETS

676,810

784,874

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,323,947

1,550,871

CREDITORS

Amounts falling due after more than one
year

8

(4,206

)

(5,257

)

PROVISIONS FOR LIABILITIES

9

(108,970

)

(125,239

)

NET ASSETS

1,210,771

1,420,375

CAPITAL AND RESERVES

Called up share capital

1,850

Capital redemption reserve

150

Retained earnings

1,208,771

1,418,375

1,210,771

1,420,375

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 22 April 2026 and were signed on its behalf by:

W Rafferty - Director

1.	STATUTORY INFORMATION

The Parkhead Welding Company 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

5% on cost

Plant and machinery etc

-

20% on reducing balance

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2024 - 35 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

COST

At 1 January 2025

1,079,626

615,048

106,724

624,685

2,426,083

Additions

-

2,806

10,649

89,000

102,455

Disposals

-

(114,799

)

(114,799

)

At 31 December 2025

1,079,626

617,854

117,373

598,886

2,413,739

DEPRECIATION

At 1 January 2025

828,545

579,808

90,276

161,457

1,660,086

Charge for year

53,981

7,320

4,715

88,107

154,123

Eliminated on disposal

-

(47,607

)

(47,607

)

At 31 December 2025

882,526

587,128

94,991

201,957

1,766,602

NET BOOK VALUE

At 31 December 2025

197,100

30,726

22,382

396,929

647,137

At 31 December 2024

251,081

35,240

16,448

463,228

765,997

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade debtors

164,491

162,217

Other debtors

78,142

88,881

242,633

251,098

6.	CURRENT ASSET INVESTMENTS

31.12.25

31.12.24

£

Listed investments

131,524

126,095

Market value of listed investments at 31 December 2025 - £ 131,524 (2024 - £ 126,095 ).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade creditors

100,871

98,987

Taxation and social security

142,177

255,125

Other creditors

33,627

38,088

276,675

392,200

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.25

31.12.24

£

Other creditors

4,206

5,257

9.	PROVISIONS FOR LIABILITIES

31.12.25

31.12.24

£

Deferred tax

108,970

125,239

Deferred

tax

£

Balance at 1 January 2025

125,239

Credit to Income Statement during year

(16,269

)

Balance at 31 December 2025

108,970