REGISTERED NUMBER: SC333725 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 September 2025

for

Sarti (Wellington Street Trading)

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A C Arrighi

R Cimmino

P M Diamond

D S Clelland

SECRETARY:

P M Diamond

REGISTERED OFFICE:

133 Wellington Street

Glasgow

G2 2XD

REGISTERED NUMBER:

SC333725 (Scotland)

ACCOUNTANTS:

Gillespie & Anderson

Chartered Accountants

147 Bath Street

Glasgow

G2 4SN

FIXED ASSETS

Intangible assets

4

84,450

119,169

Tangible assets

5

370,322

184,286

Investments

6

99

99

454,871

303,554

CURRENT ASSETS

Stocks

49,870

49,251

Debtors

7

172,602

141,552

Cash at bank and in hand

8,253

110,398

230,725

301,201

CREDITORS

Amounts falling due within one year

8

308,159

220,557

NET CURRENT (LIABILITIES)/ASSETS

(77,434

)

80,644

TOTAL ASSETS LESS CURRENT LIABILITIES

377,437

384,198

CREDITORS

Amounts falling due after more than one year

9

31,747

51,698

NET ASSETS

345,690

332,500

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Capital redemption reserve

6,850

6,850

Retained earnings

288,840

275,650

SHAREHOLDERS' FUNDS

345,690

332,500

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2026 and were signed on its behalf by:

P M Diamond - Director

1.	STATUTORY INFORMATION

Sarti (Wellington Street Trading) 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

The directors review trading performance and cash flow on a regular basis to ensure that the company has sufficient resources to meet commitments as they fall due. Having carried out this exercise the directors are satisfied that sufficient resources are available and as such the accounts have been prepared on a going concern basis.

Turnover/ revenue recognition

Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the Company's activities.

Sales are presented, net of value-added tax, rebates and discounts.

The Company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the Company's activities are met.

Goodwill

Positive goodwill is capitalised and amortised through the profit and loss account over the directors' estimate of its useful economic life of 20 years. Impairment tests on the carrying value of goodwill are undertaken:

- At the end of the first full financial year following acquisition;

- In other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Depreciation

Depreciation is provided to write off the cost, less estimated residual values, of all tangible fixed assets, except for investment properties and freehold land, evenly over their expected useful lives. It is calculated at the following rates:

Tenant's property improvements

Over 20 years

Plant, equipment, fixtures and fittings

20% reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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

Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the profit and loss account over the shorter of estimated useful economic life and the period of the lease.

Lease payments are analysed between capital and interest components so that the interest element of the payment is charged to the profit and loss account over the period of the lease and is calculated so that it represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.

All other leases are treated as operating leases. Their annual rentals are charged to the profit and loss account on a straight line basis over the terms of the lease.

Pension costs and other post-retirement benefits

The company operates a money purchase pension scheme in the form of employee personal pension plans. The contracts are between the individual and the pension provider and all funds are held externally by a third party pension provider. Pension contributions are charged to the profit and loss account in the period to which they relate.

Cash and cash equivalents

Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

Impairment of fixed assets

At each reporting date, the company reviews the carrying amounts of its tangible and intangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Financial instruments

Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities:

Loans and other receivables

Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses.

Other financial liabilities

Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value.

Impairment of financial instruments

A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2024 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2024

and 30 September 2025

694,386

AMORTISATION

At 1 October 2024

575,217

Charge for year

34,719

At 30 September 2025

609,936

NET BOOK VALUE

At 30 September 2025

84,450

At 30 September 2024

119,169

The company acquired the whole of the issued share capital of Dalerise Limited on 29 February 2008. Following that acquisition and as part of the rationalisation of the group the trade and net assets of Dalerise Limited were transferred into the company on 1 March 2008.

The consideration for this hive up was based upon the book value of the subsidiary undertaking's net assets and took no account of the goodwill inherent in the business. This resulted in an apparent overvaluation of the investment held in the company's books although there was no overall loss to the group. Schedule 4 to the Companies Act 1985, the Act in force at the date of the acquisition, required that where such a valuation is expected to be permanent, the investment should be written down accordingly.

The directors considered that as the substance of the transaction was merely to reorganise the group's operations such a treatment would fail to give a true and fair view. Consequently the diminution in value of the investment was reallocated to goodwill. The effect on the company's balance sheet of this departure from requirements of Schedule 4 was to recognise goodwill of £694,386 which is being amortised over 20 years.

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2024

304,393

Additions

230,833

Disposals

(91,074

)

At 30 September 2025

444,152

DEPRECIATION

At 1 October 2024

120,107

Charge for year

36,192

Eliminated on disposal

(82,469

)

At 30 September 2025

73,830

NET BOOK VALUE

At 30 September 2025

370,322

At 30 September 2024

184,286

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

Plant and

machinery

etc

£

COST

At 1 October 2024

and 30 September 2025

60,750

DEPRECIATION

At 1 October 2024

18,035

Charge for year

10,679

At 30 September 2025

28,714

NET BOOK VALUE

At 30 September 2025

32,036

At 30 September 2024

42,715

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2024

and 30 September 2025

99

NET BOOK VALUE

At 30 September 2025

99

At 30 September 2024

99

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Sarti (Wellington St.) Limited

Registered office: 133 Wellington Street Glasgow G2 2XD

Nature of business: Property investment

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

£

Aggregate capital and reserves

99

99

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by associates

145,044

140,601

Social Security

18,419

-

VAT

6,332

-

Deferred tax asset

Accelerated capital allowances

51

51

Prepayments and accrued income

2,756

900

172,602

141,552

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 10)

21,873

15,000

Hire purchase contracts

8,701

8,700

Trade creditors

222,983

119,162

Corporation tax

11,286

11,286

Social security and other taxes

-

34,758

Other creditors

5,012

2,344

Directors loan accounts

17,000

17,000

Accruals and deferred income

21,304

12,307

308,159

220,557

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 10)

-

11,250

Hire purchase contracts

31,747

40,448

31,747

51,698

10.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

10,623

-

Bank loans

11,250

15,000

21,873

15,000

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

11,250

11.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdraft

10,623

-

Bank loans

11,250

26,250

21,873

26,250

The company has a CBILS loan secured under the Enterprise Finance Guarantee Scheme. Interest is chargeable after an initial interest free period at the rate of 2.62% above Bank of England base rate. Bank borrowings are also secured by bond and floating charge over all the assets of the company.

12.	RELATED PARTY DISCLOSURES

The company entered into commercial transactions with Sarti (Sauchiehall Street) Limited, a company in which the directors are shareholders.

The net value of inter company transactions during the year was £195,557 (2024: £50,447).

As at 30 September 2025 the balance owed to Sarti (Sauchiehall Street) Limited was £91,010 (2024: £86,567)

The company entered into commercial transactions with DPMR Limited, a company in which the directors are shareholders.

The net value of inter company transactions during the year was NIL (2024: £81,230).

As at 30 September 2025 the balance owed from DPMR Limited to Sarti (Wellington Street Trading) Limited was £54,034 (2024: £54,034).

Rent was paid during the year to DPMR Limited at a commercial rate.

13.	CONTROLLING PARTIES

The company is controlled by the directors who between them own 80% of the issued ordinary share capital.

14.

PENSIONS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.