REGISTERED NUMBER: SC413524 (Scotland)

Unaudited Financial Statements for the Year Ended 31 January 2026

for

Xs Transport Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

1,195,008

1,198,190

CURRENT ASSETS

Debtors

5

510,304

568,128

Cash at bank and in hand

178,172

260,241

688,476

828,369

CREDITORS

Amounts falling due within one year

6

(522,983

)

(622,856

)

NET CURRENT ASSETS

165,493

205,513

TOTAL ASSETS LESS CURRENT LIABILITIES

1,360,501

1,403,703

CREDITORS

Amounts falling due after more than one year

7

(573,293

)

(589,656

)

PROVISIONS FOR LIABILITIES

(38,474

)

(47,483

)

NET ASSETS

748,734

766,564

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

748,733

766,563

SHAREHOLDERS' FUNDS

748,734

766,564

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 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 11 June 2026 and were signed on its behalf by:

Mr A W Taylor - Director

Ms L G Forsythe - Director

1.	STATUTORY INFORMATION

XS Transport Limited is a private company, limited by shares, domiciled in Scotland, registration number SC413524. The registered office is Former Masterton Building, Inchyra Grange Road, Grangemouth, FK3 9XB.

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 road haulage contracting services excluding value added tax. Sales are recognised at the point at which the goods are transferred and 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

-

2% on cost and not provided

Plant and machinery etc

-

33% on cost and 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.

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.

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.

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 16 (2025 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 February 2025

1,082,163

1,119,672

2,201,835

Additions

-

147,324

147,324

At 31 January 2026

1,082,163

1,266,996

2,349,159

DEPRECIATION

At 1 February 2025

111,125

892,520

1,003,645

Charge for year

18,696

131,810

150,506

At 31 January 2026

129,821

1,024,330

1,154,151

NET BOOK VALUE

At 31 January 2026

952,342

242,666

1,195,008

At 31 January 2025

971,038

227,152

1,198,190

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

Plant and

machinery

etc

£

COST

At 1 February 2025

645,922

Additions

146,825

Transfer to ownership

(437,370

)

At 31 January 2026

355,377

DEPRECIATION

At 1 February 2025

467,006

Charge for year

100,251

Transfer to ownership

(437,370

)

At 31 January 2026

129,887

NET BOOK VALUE

At 31 January 2026

225,490

At 31 January 2025

178,916

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

£

Trade debtors

390,015

475,002

Other debtors

120,289

93,126

510,304

568,128

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

£

Bank loans and overdrafts

57,868

68,782

Hire purchase contracts

72,375

48,861

Trade creditors

90,129

70,889

Taxation and social security

107,987

118,598

Other creditors

194,624

315,726

522,983

622,856

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.26

31.1.25

£

£

Bank loans

424,433

484,045

Hire purchase contracts

148,860

105,611

573,293

589,656

31.1.26

31.1.25

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

275,524

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.26

31.1.25

£

£

Bank loans

482,301

552,827

Hire purchase contracts

221,235

154,472

Amounts due to Factors

-

290,361

703,536

997,660

Lloyds TSB Commercial Finance Limited hold a bond and floating charge over the whole of the property of the company. This was assigned on 4 May 2012.

On the 26th February 2019 the company granted a floating charge over all its property, undertaking, assets (including uncalled capital) and rights owned now or in the future to the Bank of Scotland PLC.

On the 19th April 2019 the company granted a standard security over all its property at Inchyra Road, Grangemouth to the Bank of Scotland PLC.

Hire purchase creditors are secured on the assets to which they relate.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the following amounts were advanced to director:-

A Taylor £14,325 (2025:- £41,222)