Company No: SC473140 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	303,698		303,989
		303,698		303,989
Current assets
Stocks		27,460		42,425
Debtors	4	944,531		1,255,745
Cash at bank and in hand	5	1,764,252		1,033,894
		2,736,243		2,332,064
Creditors: amounts falling due within one year	6	( 325,491)		( 234,897)
Net current assets		2,410,752		2,097,167
Total assets less current liabilities		2,714,450		2,401,156
Creditors: amounts falling due after more than one year	7	( 49,173)		( 44,411)
Provision for liabilities	8	( 24,121)		( 24,020)
Net assets		2,641,156		2,332,725
Capital and reserves
Called-up share capital	9	100		100
Profit and loss account		2,641,056		2,332,625
Total shareholders' funds		2,641,156		2,332,725

For the financial year ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Gavin Cairns Roughcasting Limited (registered number: SC473140) were approved and authorised for issue by the Board of Directors on 09 October 2026. They were signed on its behalf by:

Gavin Cairns Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Gavin Cairns Roughcasting Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 14 Heights Of Woodside, Westhill, Inverness, IV2 5TH, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the Balance Sheet date. This is normally measured by the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets is reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	10 % reducing balance
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 April 2025	201,835		31,686		134,245		10,780		1,141		379,687
Additions	0		2,890		29,445		0		1,011		33,346
Disposals	0		0		( 33,309)		0		( 542)		( 33,851)
At 31 March 2026	201,835		34,576		130,381		10,780		1,610		379,182
Accumulated depreciation
At 01 April 2025	0		20,150		53,392		1,531		625		75,698
Charge for the financial year	0		1,947		22,043		925		424		25,339
Disposals	0		0		( 25,011)		0		( 542)		( 25,553)
At 31 March 2026	0		22,097		50,424		2,456		507		75,484
Net book value
At 31 March 2026	201,835		12,479		79,957		8,324		1,103		303,698
At 31 March 2025	201,835		11,536		80,853		9,249		516		303,989

4. Debtors

	2026		2025
	£		£
Trade debtors	414,874		564,385
Corporation tax	105,862		78,921
Other debtors	423,795		612,439
	944,531		1,255,745

5. Cash and cash equivalents

	2026		2025
	£		£
Cash at bank and in hand	1,764,252		1,033,894

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	111,035		101,465
Taxation and social security	186,159		109,716
Obligations under finance leases and hire purchase contracts	22,179		19,258
Other creditors	6,118		4,458
	325,491		234,897

The obligations under hire purchase contracts are secured over the assets which the agreements relate to.

7. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Obligations under finance leases and hire purchase contracts	49,173		44,411

The obligations under hire purchase contracts are secured over the assets which the agreement relate to.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2026		2025
	£		£
Obligations under finance leases and hire purchase contracts	0		181

The obligations under hire purchase contracts are secured over the assets which the agreements relate to.

8. Deferred tax

	2026		2025
	£		£
At the beginning of financial year	( 24,020)		( 22,605)
Charged to the Profit and Loss Account	( 101)		( 1,415)
At the end of financial year	( 24,121)		( 24,020)

9. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
40 A ordinary shares of £ 1.00 each (2025: - shares of £ 0 each)	40		0
42 B ordinary shares of £ 1.00 each (2025: - shares of £ 0 each)	42		0
6 C ordinary shares of £ 1.00 each (2025: - shares of £ 0 each)	6		0
6 D ordinary shares of £ 1.00 each (2025: - shares of £ 0 each)	6		0
6 E ordinary shares of £ 1.00 each (2025: - shares of £ 0 each)	6		0
Nil ordinary shares (2025: 100 shares of £ 1.00 each)	0		100
	100		100

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2026		2025
	£		£
Within one year	15,813		6,015
Between one and five years	0		15,813
	15,813		21,828

11. Related party transactions

Transactions with the entity's directors

	2026		2025
	£		£
Key management personnel	168,350		321,087

At the beginning of the year the business was owed £321,087 by the directors. Advances were made to the directors in the year to 31 March 2026 for £115,314 at interest rate of 3.75% totalling £9,003. £277,054 has been repaid within the year resulting in a closing balance of £168,350 being owed to the business by the directors.

The loan is unsecured and has no fixed terms of repayment.

Other related party transactions

	2026		2025
	£		£
Other related parties	23,068		22,000

At the beginning of the year the business was owed £22,000 by other related parties. Advances were made in the year to 31 March 2026 for £24,000 at interest rate of 3.75% totalling £1,068 and £24,000 has been repaid within the year resulting in a closing balance of £23,068 owed by other related parties.

The loan is unsecured and has no fixed terms of repayment.