REGISTERED NUMBER: SC225454 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

MYLES BROS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J A Myles

REGISTERED OFFICE:

Unit 1 Greendykes Industrial Estate

Broxburn

West Lothian

EH52 6PG

REGISTERED NUMBER:

SC225454 (Scotland)

ACCOUNTANTS:

S&W Partners (Scotland) Limited

Q Court

3 Quality Street

Edinburgh

EH4 5BP

FIXED ASSETS

Tangible assets

4

32,122

37,377

CURRENT ASSETS

Stocks

159,841

214,557

Debtors

5

129,086

141,151

Cash at bank and in hand

25,339

11,874

314,266

367,582

CREDITORS

Amounts falling due within one year

6

(160,114

)

(184,957

)

NET CURRENT ASSETS

154,152

182,625

TOTAL ASSETS LESS CURRENT LIABILITIES

186,274

220,002

CREDITORS

Amounts falling due after more than one year

7

-

(5,000

)

PROVISIONS FOR LIABILITIES

8

(5,064

)

(7,049

)

NET ASSETS

181,210

207,953

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Capital redemption reserve

5,000

5,000

Retained earnings

171,210

197,953

SHAREHOLDERS' FUNDS

181,210

207,953

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 director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 September 2026 and were signed by:

J A Myles - Director

1.	STATUTORY INFORMATION

Myles Bros 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 for the wholesale of hardware, plumbing and heating equipment and supplies.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% per annum reducing balance

Fixtures and equipment

-

20% per annum reducing balance

Motor vehicles

-

25% per annum reducing balance

IMPAIRMENT OF ASSETS

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company. Contributions payable for the year are charged in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

equipment

vehicles

Totals

£

£

£

£

COST

At 1 January 2025

9,584

20,403

52,269

82,256

Additions

-

-

4,231

4,231

At 31 December 2025

9,584

20,403

56,500

86,487

DEPRECIATION

At 1 January 2025

2,498

9,160

33,221

44,879

Charge for year

1,417

2,249

5,820

9,486

At 31 December 2025

3,915

11,409

39,041

54,365

NET BOOK VALUE

At 31 December 2025

5,669

8,994

17,459

32,122

At 31 December 2024

7,086

11,243

19,048

37,377

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

Motor

vehicles

£

COST

At 1 January 2025

26,000

Additions

4,231

Transfer to ownership

(20,824

)

At 31 December 2025

9,407

DEPRECIATION

At 1 January 2025

15,264

Charge for year

1,058

Transfer to ownership

(15,264

)

At 31 December 2025

1,058

NET BOOK VALUE

At 31 December 2025

8,349

At 31 December 2024

10,736

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Trade debtors

114,087

125,096

Other debtors

14,999

16,055

129,086

141,151

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Bank loans and overdrafts

4,157

12,651

Hire purchase contracts

2,189

5,353

Trade creditors

60,847

85,833

Taxation and social security

28,627

29,551

Other creditors

64,294

51,569

160,114

184,957

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

as restated

£

£

Bank loans

-

5,000

8.	PROVISIONS FOR LIABILITIES

2025

2024

as restated

£

£

Deferred tax

5,064

7,049

Deferred

tax

£

Balance at 1 January 2025

7,049

Credit to Statement of Income and Retained Earnings during year

(1,985

)

Balance at 31 December 2025

5,064

9.	RELATED PARTY DISCLOSURES

Included in "Other creditors" is an amount £28,877 (2024 - £21,827) due to the director from the company. The loan is interest free and has no fixed terms of repayment.