REGISTERED NUMBER: SC030143 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

FOR

JOHN STEWART (TURRIFF) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTOR:

Mr L C Henderson

SECRETARY:

Stewart & Watson

REGISTERED OFFICE:

59 High Street

Turriff

Aberdeenshire

AB53 4EL

REGISTERED NUMBER:

SC030143 (Scotland)

ACCOUNTANTS:

Bain Henry Reid

28 Broad Street

Peterhead

Aberdeenshire

AB42 1BY

FIXED ASSETS

Tangible assets

3

122,375

130,005

CURRENT ASSETS

Stocks

78,295

90,538

Debtors

4

161,816

161,972

Cash at bank and in hand

244,304

301,577

484,415

554,087

CREDITORS

Amounts falling due within one year

5

70,580

62,162

NET CURRENT ASSETS

413,835

491,925

TOTAL ASSETS LESS CURRENT LIABILITIES

536,210

621,930

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

526,210

611,930

SHAREHOLDERS' FUNDS

536,210

621,930

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 30 October 2026 and were signed by:

Mr L C Henderson - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

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.

Freehold property - 2% on cost

Fixtures and fittings - 20% on reducing balance

Motor vehicles - 25% on reducing balance

Computer equipment - 33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2025 - 17 ) .

3.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 February 2025

and 31 January 2026

222,820

402,301

625,121

DEPRECIATION

At 1 February 2025

108,260

386,856

495,116

Charge for year

4,455

3,175

7,630

At 31 January 2026

112,715

390,031

502,746

NET BOOK VALUE

At 31 January 2026

110,105

12,270

122,375

At 31 January 2025

114,560

15,445

130,005

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

7,861

8,382

Other debtors

153,955

153,590

161,816

161,972

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

50,113

45,468

Taxation and social security

11,455

8,162

Other creditors

9,012

8,532

70,580

62,162

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2026 and 31 January 2025:

2026

2025

£

£

Mr L C Henderson

Balance outstanding at start of year

(107

)

(107

)

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(107

)

(107

)

7.	RELATED PARTY DISCLOSURES

Other debtors includes a loan to King Edward Tyre Services Limited, a company controlled by the son of one of the directors. The sum advanced at 31st January 2026 was £146,800 (2025 - £146,800).

This represents an interest free advance with no fixed term of repayment.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr L C Henderson.