Registration number: SC173423

Priority Management (Glasgow) Limited

Contents

Company Information	1
Statement of Financial Position	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Priority Management (Glasgow) Limited

Company Information

Directors

Mrs Gilly Macmorran Mr John P Bourke

Registered office

6 Atholl Crescent PERTH PH1 5JN

Accountants

Morris & Young Chartered Accountants 6 Atholl Crescent PERTH PH1 5JN

Priority Management (Glasgow) Limited

(Registration number: SC173423)
Statement of Financial Position as at 31 January 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	5	237,578	237,326
Current assets
Debtors	6	310,255	237,125
Cash at bank and in hand		409,926	465,568
		720,181	702,693
Creditors: Amounts falling due within one year	7	(113,240)	(83,909)
Net current assets		606,941	618,784
Total assets less current liabilities		844,519	856,110
Provisions for liabilities		(2,773)	(2,710)
Net assets		841,746	853,400
Capital and reserves
Called up share capital	8	17,860	17,860
Retained earnings		823,886	835,540
Shareholders' funds		841,746	853,400

Priority Management (Glasgow) Limited

(Registration number: SC173423)
Statement of Financial Position as at 31 January 2026

For the financial year ending 31 January 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 accounts for the year in question in accordance with section 476; and
•	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 and in accordance with the provisions of FRS 102 Section 1A.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 October 2026 and signed on its behalf by:
 

......................................... Mrs Gilly Macmorran Director

Priority Management (Glasgow) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
6 Atholl Crescent
PERTH
PH1 5JN

These financial statements were authorised for issue by the Board on 22 October 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are represented in Sterling (GBP) and are rounded to the nearest £1.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Priority Management (Glasgow) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures & Fittings	25% RB
Motor Vehicles	25% RB
Plant & Machinery	25% RB

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and bank deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are recognised initially at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Priority Management (Glasgow) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2025 - 4).

Priority Management (Glasgow) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 February 2025	1,000	1,000
At 31 January 2026	1,000	1,000
Amortisation
At 1 February 2025	1,000	1,000
At 31 January 2026	1,000	1,000
Carrying amount
At 31 January 2026	-	-

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 February 2025	226,485	115,626	342,111
Additions	-	2,962	2,962
At 31 January 2026	226,485	118,588	345,073
Depreciation
At 1 February 2025	-	104,785	104,785
Charge for the year	-	2,710	2,710
At 31 January 2026	-	107,495	107,495
Carrying amount
At 31 January 2026	226,485	11,093	237,578
At 31 January 2025	226,485	10,841	237,326

Included within the net book value of land and buildings above is £226,485 (2025 - £226,485) in respect of freehold land and buildings.
 

Priority Management (Glasgow) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

6

Debtors

Current	2026 £	2025 £
Trade debtors	24,870	32,990
Other debtors	285,385	204,135
	310,255	237,125

7

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Trade creditors	4,454	3,760
Taxation and social security	27,942	44,194
Accruals and deferred income	35,897	35,456
Other creditors	44,947	499
	113,240	83,909

8	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary Shares of £1 each	20,000	20,000	20,000	20,000

Priority Management (Glasgow) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

9	Related party transactions

Transactions with directors

2026	At 1 February 2025 £	Advances to director £	At 31 January 2026 £
Mrs Gilly Macmorran
Director's Loan Account	154,064	45,936	200,000

2025	At 1 February 2024 £	Repayments by director £	At 31 January 2025 £
Mrs Gilly Macmorran
Director's Loan Account	169,203	(15,139)	154,064

Other transactions with directors

There was also a balance of £44,789 due to the director at 31 January 2026. This has not been offset against the overdrawn director's loan account in these accounts and is shown within other creditors.