REGISTERED NUMBER: SC030733 (Scotland)

Rix Shipping (Scotland) Limited

Financial Statements for the Year Ended 31 December 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R M A Clarke

REGISTERED OFFICE:

Meridian Street

Montrose

Angus

DD10 8DT

REGISTERED NUMBER:

SC030733 (Scotland)

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

HU2 8BA

CURRENT ASSETS

Debtors

4

1,150,901

647,074

Cash at bank and in hand

129,114

1,215,206

1,280,015

1,862,280

CREDITORS

Amounts falling due within one year

5

1,150,056

1,671,877

NET CURRENT ASSETS

129,959

190,403

TOTAL ASSETS LESS CURRENT LIABILITIES

129,959

190,403

CAPITAL AND RESERVES

Called up share capital

6

3,500

3,500

Retained earnings

126,459

186,903

SHAREHOLDERS' FUNDS

129,959

190,403

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 director and authorised for issue on 5 August 2026 and were signed by:

R M A Clarke - Director

1.	STATUTORY INFORMATION

Rix Shipping (Scotland) 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.

The principal accounting policies have remained unchanged from the previous year and are set out below.

Going concern

The director has considered it appropriate that the company's financial statements are prepared on a going concern basis. The company has historically been part of a wider group, but the parent undertaking has confirmed that it is not willing to provide financial support to the company, either currently or in the foreseeable future. As a result, the company must secure alternative sources of funding in order to meet its obligations as they fall due.

The director is actively exploring funding options and implementing measures to manage cash flow; however, no binding arrangements were in place at the date the financial statements were approved. These circumstances represent a material uncertainty that may cast significant doubt upon the company's ability to continue as a going concern.

Nevertheless, the financial statements have been prepared on a going concern basis, as the directors believe that there are reasonable prospects of securing sufficient funding and that the company will be able to continue trading for the foreseeable future.

Turnover

Turnover represents the amounts derived from the provision of goods and services which fall within the company's ordinary activities, all of which are continuing, stated net of value added tax.

Taxation

Taxation for the year comprises of current 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 taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Pension costs and other post-retirement benefits

The company is part of a group which operates a money purchase pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the pension scheme.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2024 - 27 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

702,806

466,927

Amounts owed by group undertakings

423,764

140,169

Prepayments and accrued income

24,331

39,978

1,150,901

647,074

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

163,590

162,463

Amounts owed to group undertakings

926,838

1,353,040

Corporation tax

-

40,000

Accrued expenses

59,628

116,374

1,150,056

1,671,877

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

3,500

Ordinary

£1

3,500

3,500

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Stocks FCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

8.	CONTINGENT LIABILITIES

The company is party to an unlimited debenture, omnibus guarantee and set-off agreement in favour of Lloyds Banking Group in respect of group borrowings. The potential liability under this agreement amounted to £52,497,022 (2024: £45,895,166).

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year the company entered into transaction, in the ordinary course of business, with other related parties. Transactions entered into, and balances outstanding at 31st December, are as follows:

2025

2024

£

£

Sales

-

-

Purchases

-

156,027

Amounts owed to related parties

-

19,305

Amounts due from related parties

-

-

10.	ULTIMATE CONTROLLING PARTY

The parent company of the group of undertakings for which group financial statements are drawn up and of which the company is a member is J. R. Rix & Sons Limited, registered in England and Wales.

J. R. Rix & Sons Limited is also the company's ultimate parent undertaking and its registered office is 2 Humber Quays, Wellington Street West, Hull, HU1 2BN. The only group in which the results of the company are consolidated is J. R. Rix & Sons Limited, and these can be obtained from Companies House.

J. R. Rix & Sons Limited has no ultimate controlling party.