REGISTERED NUMBER: SC181649 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Brae Garage (Shetland) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G H Johnson

Mrs V D Johnson

SECRETARY:

Mrs V D Johnson

REGISTERED OFFICE:

Westvale

Brae

Shetland

ZE2 9QG

REGISTERED NUMBER:

SC181649 (Scotland)

ACCOUNTANTS:

Mackay Johnson Ltd

2 North Ness Business Park

Lerwick

Shetland

ZE1 0LZ

FIXED ASSETS

Tangible assets

4

1,131,155

1,138,536

CURRENT ASSETS

Stocks

137,282

136,314

Debtors

5

243,341

133,724

Cash in hand

688

3,588

381,311

273,626

CREDITORS

Amounts falling due within one year

6

396,004

348,471

NET CURRENT LIABILITIES

(14,693

)

(74,845

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,116,462

1,063,691

CREDITORS

Amounts falling due after more than one year

7

274,045

321,202

NET ASSETS

842,417

742,489

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

832,417

732,489

SHAREHOLDERS' FUNDS

842,417

742,489

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 16 September 2026 and were signed on its behalf by:

G H Johnson - Director

Mrs V D Johnson - Director

1.	STATUTORY INFORMATION

Brae Garage (Shetland) 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2024 - 36 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2025

1,048,035

223,634

52,406

Additions

-

8,006

2,386

Disposals

-

(38,041

)

-

At 31 December 2025

1,048,035

193,599

54,792

DEPRECIATION

At 1 January 2025

-

166,740

42,122

Charge for year

-

11,186

2,515

Eliminated on disposal

-

(38,040

)

-

At 31 December 2025

-

139,886

44,637

NET BOOK VALUE

At 31 December 2025

1,048,035

53,713

10,155

At 31 December 2024

1,048,035

56,894

10,284

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2025

80,947

41,179

1,446,201

Additions

600

2,285

13,277

Disposals

(13,547

)

-

(51,588

)

At 31 December 2025

68,000

43,464

1,407,890

DEPRECIATION

At 1 January 2025

59,567

39,236

307,665

Charge for year

5,395

1,325

20,421

Eliminated on disposal

(13,311

)

-

(51,351

)

At 31 December 2025

51,651

40,561

276,735

NET BOOK VALUE

At 31 December 2025

16,349

2,903

1,131,155

At 31 December 2024

21,380

1,943

1,138,536

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2025

46,492

26,500

72,992

Additions

8,006

-

8,006

At 31 December 2025

54,498

26,500

80,998

DEPRECIATION

At 1 January 2025

581

11,180

11,761

Charge for year

8,175

3,830

12,005

At 31 December 2025

8,756

15,010

23,766

NET BOOK VALUE

At 31 December 2025

45,742

11,490

57,232

At 31 December 2024

45,911

15,320

61,231

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

58,478

57,345

Other debtors

184,863

76,379

243,341

133,724

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans and overdrafts

97,445

105,297

Hire purchase contracts

14,278

14,278

Trade creditors

167,051

143,028

Taxation and social security

56,997

48,223

Other creditors

60,233

37,645

396,004

348,471

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans

246,663

279,097

Hire purchase contracts

19,452

33,730

Other creditors

7,930

8,375

274,045

321,202

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of the Financial Reporting Standard 102 "The financial reporting standard in the UK and Ireland", not to disclose related party transactions whereby they have occurred under normal market conditions.