Doig and Smith Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC372452 (Scotland)

Financial Statements for the Year Ended 28 February 2026

for

Doig and Smith Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

I H Jamieson

A Archibald

C F McQuarrie

REGISTERED OFFICE:

1st Floor

Onyx Building

215 Bothwell Street

Glasgow

G2 7EZ

REGISTERED NUMBER:

SC372452 (Scotland)

ACCOUNTANTS:

EQ Accountants Ltd

47-49 The Square

Kelso

Roxburghshire

TD5 7HW

FIXED ASSETS

Intangible assets

5

1,280,000

1,360,000

Property, plant and equipment

6

846,435

650,218

2,126,435

2,010,218

CURRENT ASSETS

Debtors

7

1,126,483

1,040,850

Cash at bank and in hand

15,277

71,951

1,141,760

1,112,801

CREDITORS

Amounts falling due within one year

8

1,040,725

818,081

NET CURRENT ASSETS

101,035

294,720

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,227,470

2,304,938

CREDITORS

Amounts falling due after more than one
year

9

(75,847

)

(67,615

)

PROVISIONS FOR LIABILITIES

12

(5,000

)

(8,000

)

NET ASSETS

2,146,623

2,229,323

CAPITAL AND RESERVES

Called up share capital

1,104

Share premium

13

149,500

Revaluation reserve

13

175,652

-

Capital redemption reserve

13

403

Retained earnings

13

1,819,964

2,078,316

SHAREHOLDERS' FUNDS

2,146,623

2,229,323

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 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 12 October 2026 and were signed on its behalf by:

I H Jamieson - Director

1.	STATUTORY INFORMATION

Doig and Smith Ltd 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The presentation currency is £ sterling.

Turnover

Turnover represents net invoiced sales of professional services, excluding value added tax, as adjusted for work in progress.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts, the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients at the financial year end is included in debtors.

Goodwill

Goodwill relating to the acquisition of a business in 2010, is capitalised and amortised over its useful life of 20 years.

Computer software

Computer software is included as an intangible asset at cost less depreciation and impairment. Amortisation is calculated so as to write off the cost of the computer software over the useful economic life of 3 years straight line.

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.

Improvements to property

-

5% on cost and Over the remaining life of the lease

Fixtures, fittings & equipment

-

20% on reducing balance

Computer equipment

-

25% on cost

In the period no depreciation has been charged on the freehold property as in the opinion of the directors the residual value would be so high and the useful economic life so long that any depreciation would be immaterial.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Lease incentives

The benefits of lease incentives are recognised in the income statement over the lease period.

Financial instruments

Basic financial instruments are recognised at amortised cost.

Going concern

The directors have prepared projected cash flow information for the twelve months from the date of approval of these financial statements. On the basis of this cash flow information the directors consider that the company will continue to operate within its funding facilities.

Accordingly, the financial statements have been prepared on a going concern basis which the directors believe to be appropriate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2025 - 50 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

COST

At 1 March 2025

and 28 February 2026

4,000,000

90,443

4,090,443

AMORTISATION

At 1 March 2025

2,640,000

90,443

2,730,443

Charge for year

80,000

-

80,000

At 28 February 2026

2,720,000

90,443

2,810,443

NET BOOK VALUE

At 28 February 2026

1,280,000

-

1,280,000

At 28 February 2025

1,360,000

-

1,360,000

6.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Fixtures,

Freehold

to

fittings

Computer

property

& equipment

equipment

Totals

£

COST OR VALUATION

At 1 March 2025

580,348

121,478

107,450

79,454

888,730

Additions

-

30,113

10,727

40,840

Revaluations

175,652

-

175,652

At 28 February 2026

756,000

121,478

137,563

90,181

1,105,222

DEPRECIATION

At 1 March 2025

-

105,447

72,864

60,201

238,512

Charge for year

-

1,947

8,599

9,729

20,275

At 28 February 2026

-

107,394

81,463

69,930

258,787

NET BOOK VALUE

At 28 February 2026

756,000

14,084

56,100

20,251

846,435

At 28 February 2025

580,348

16,031

34,586

19,253

650,218

Cost or valuation at 28 February 2026 is represented by:

Improvements

Fixtures,

Freehold

to

fittings

Computer

property

& equipment

equipment

Totals

£

Valuation in 2026

175,652

-

175,652

Cost

580,348

121,478

137,563

90,181

929,570

756,000

121,478

137,563

90,181

1,105,222

The Malt House was revalued by an independent valuer, Allied Surveyors, in March 2026 based on an open market valuation in accordance with Red Book Valuation Standards published by the Royal Institute of Chartered Surveyors.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/26

28/2/25

£

Trade & other receivables

838,000

744,963

Amounts recoverable on

contracts

129,658

128,068

Other debtors

700

-

Prepayments & accrued income

158,125

167,819

1,126,483

1,040,850

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/26

28/2/25

£

Bank loans and overdrafts

183,358

225,497

Trade & other payables

278,516

155,574

Liabilities for current tax

288,396

180,864

Social security and other taxes

69,969

61,215

VAT

189,392

157,270

Other creditors

9,000

Accruals & deferred income

22,094

28,661

1,040,725

818,081

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

28/2/26

28/2/25

£

Bank loans - 1-2 years

66,955

58,168

Directors' Accounts > 1 year

8,892

9,447

75,847

67,615

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

28/2/26

28/2/25

£

Within one year

145,000

149,900

Between one and five years

290,000

435,000

584,900

11.	SECURED DEBTS

The following secured debts are included within creditors:

28/2/26

28/2/25

£

Bank overdrafts

87,528

41,448

Bank loans

162,785

242,217

250,313

283,665

The Clydesdale Bank holds a standard security over the company's freehold property and a floating charge over the whole of the property which is, or may be, from time to time comprise the company's property and undertaking.

12.	PROVISIONS FOR LIABILITIES

28/2/26

28/2/25

£

Deferred tax

5,000

8,000

Deferred

tax

£

Balance at 1 March 2025

8,000

Provided during year

(3,000

)

Balance at 28 February 2026

5,000

13.

RESERVES

Capital

Retained

Share

Revaluation

redemption

earnings

premium

reserve

Totals

£

At 1 March 2025

2,078,316

149,500

-

403

2,228,219

Profit for the year

403,122

Dividends

(485,822

)

(485,822

)

Reclassification of loan as

current

(175,652

)

-

175,652

-

At 28 February 2026

1,819,964

149,500

175,652

403

2,145,519

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The amounts included in amounts repaid, for each director, include dividends due to them for the year.

The amounts included in amounts advanced, for each director, include monthly drawdowns and payment of personal taxation.