P. & S. HARRISON LIMITED


Directors	BUTLER, Tracy Jane
	CHINN, Natalie
	HARRISON, Derek
	HARRISON, Laura


Company Secretary	HARRISON, Laura


Registered Address	Caledonia House
	89 Seaward Street
	Glasgow
	G41 1HJ


Registered Number	SC020268 (Scotland)

Statement of Financial Position
31 March 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		2,112		1,571
Investments	5		1,918,075		1,762,596
Investment property	4		1,411,125		1,252,800
			3,331,312		3,016,967
Current assets
Debtors	6	32,568		13,087
Cash at bank and on hand		366,314		135,927
		398,882		149,014
Creditors amounts falling due within one year	7	(39,553)		(37,682)
Net current assets (liabilities)			359,329		111,332
Total assets less current liabilities			3,690,641		3,128,299
Net assets			3,690,641		3,128,299
Capital and reserves
Called up share capital			1,000		1,000
Revaluation reserve			550,044		391,719
Profit and loss account			3,139,597		2,735,580
Shareholders' funds			3,690,641		3,128,299

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 23 October 2026, and are signed on its behalf by:

HARRISON, Derek
Director
Registered Company No. SC020268

P. & S. HARRISON LIMITED

Notes to the Financial Statements
for the year ended 31 March 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover represents rentals receivable under operating leases and income arising from dilapidations, excluding value added tax, which are being recognised on a straight line basis over the lease terms.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Fixtures and fittings	25

	Investments
	Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

	Investment property
	Investment property is carried at fair value determined annually by the company directors, who are not professinally qualified valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

Investment property

Investment property is carried at fair value determined annually by the company directors, who are not professinally qualified valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

	Financial instruments
	The company 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, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Fixtures & fittings	Total
	£	£
Cost or valuation
At 01 April 25	86,818	86,818
Additions	1,250	1,250
At 31 March 26	88,068	88,068
Depreciation and impairment
At 01 April 25	85,247	85,247
Charge for year	709	709
At 31 March 26	85,956	85,956
Net book value
At 31 March 26	2,112	2,112
At 31 March 25	1,571	1,571

4.	Investment property
	The fair value of the investment property at 31 March 2026 has been arrived at on the basis of a valuation carried out at that date by the company directors, who are not professionally qualified valuers. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in their location and takes into account the current state of the rental market in the area where the properties are situated. No provision for deferred tax requires to be incorporated into the financial statements in respect of the revalued investment properties due to the availability of capital losses.

Investment property

The fair value of the investment property at 31 March 2026 has been arrived at on the basis of a valuation carried out at that date by the company directors, who are not professionally qualified valuers. The valuation  was arrived at by reference to market evidence of transaction prices for similar properties in their location and takes into account the current state of the rental market in the area where the properties are situated.

No provision for deferred tax requires to be incorporated into the financial statements in respect of the revalued investment properties due to the availability of capital losses.


		£
	Fair value at 01 April 25	1,252,800
	Fair value adjustments	158,325
	At 31 March 26	1,411,125

5.	Fixed asset investments

	Other investments¹	Total
	£	£
Cost or valuation
At 01 April 25	1,762,596	1,762,596
Revaluations	337,105	337,105
Disposals	(181,626)	(181,626)
At 31 March 26	1,918,075	1,918,075
Net book value
At 31 March 26	1,918,075	1,918,075
At 31 March 25	1,762,596	1,762,596

	Notes
	¹Other investments other than loans

6.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	4,420	1,555
Other debtors	28,148	11,532
Total	32,568	13,087

7.	Creditors: amounts due within one year

	2026	2025
	£	£
Taxation and social security	23,414	21,096
Other creditors	16,139	16,586
Total	39,553	37,682