REGISTERED NUMBER: SC344876 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Fraser & Sons Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

495,015

348,260

CURRENT ASSETS

Stocks

6,825

19,770

Debtors

5

144,805

36,901

Cash at bank

-

10,085

151,630

66,756

CREDITORS

Amounts falling due within one year

6

(193,412

)

(125,999

)

NET CURRENT LIABILITIES

(41,782

)

(59,243

)

TOTAL ASSETS LESS CURRENT LIABILITIES

453,233

289,017

CREDITORS

Amounts falling due after more than one year

7

(279,057

)

(174,279

)

PROVISIONS FOR LIABILITIES

(7,740

)

-

NET ASSETS

166,436

114,738

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

166,336

114,638

166,436

114,738

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 7 September 2026 and were signed on its behalf by:

Mr S A Fraser - Director

Mrs J Fraser - Director

1.	STATUTORY INFORMATION

Fraser & Sons Ltd is a private company, limited by shares, domiciled in Scotland, registration number SC344876. The registered office is Avon Motor Works, Blackston Road, Avonbridge, Falkirk, FK1 2NB.

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 services in respect of an engineer and bulk fishmeal movement., excluding value added tax. Sales are recognised at the point at which 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.

Land and buildings

-

7% on cost and 4% on cost

Plant and machinery etc

-

25% 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.

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.

Going concern

The directors of the company have reviewed the company's financial position for 12 months from the balance sheet signing date and it is their belief that the company should prepare the financial statements on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2025

372,183

74,796

446,979

Additions

-

191,628

191,628

Disposals

-

(4,000

)

(4,000

)

At 31 December 2025

372,183

262,424

634,607

DEPRECIATION

At 1 January 2025

46,968

51,751

98,719

Charge for year

10,943

31,812

42,755

Eliminated on disposal

-

(1,882

)

(1,882

)

At 31 December 2025

57,911

81,681

139,592

NET BOOK VALUE

At 31 December 2025

314,272

180,743

495,015

At 31 December 2024

325,215

23,045

348,260

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

Plant and

machinery

etc

£

COST

Additions

187,500

At 31 December 2025

187,500

DEPRECIATION

Charge for year

23,415

At 31 December 2025

23,415

NET BOOK VALUE

At 31 December 2025

164,085

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

99,595

16,155

Amounts owed by related parties

24,895

-

Other debtors

20,315

20,746

144,805

36,901

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans and overdrafts

12,245

6,791

Hire purchase contracts

38,253

-

Trade creditors

29,162

30,069

Taxation and social security

9,815

12,714

Other creditors

103,937

76,425

193,412

125,999

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans

87,265

95,089

Hire purchase contracts

112,602

-

Other creditors

79,190

79,190

279,057

174,279

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.25

31.12.24

£

£

Bank overdraft

4,937

-

Hire purchase contracts

150,855

-

Bank loans

69,118

71,003

224,910

71,003

The company has provided to the bank a bond and floating charge over the assets of the company and a first standard security over the land owned by the company. The amount outstanding to the bank at 31st December 2025 in connection with the standard security was £69,118 (2024 : £71,003).

Balances due under hire purchase / finance lease agreements are secured upon the assets to which they relate.

9.	RELATED PARTY DISCLOSURES

At year end 31st December 2025, the company owed £104,190 to family members of the Director and shareholder (2024: £81,190).

At year end 31st December 2025, the company owed £24,895 (2024: £nil) to a partnership with common Directors/Partners.