REGISTERED NUMBER: SC619165 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

FOR

BALTICS INT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Jokubaitis

V Zinkevicius

REGISTERED OFFICE:

Unit 5

Cardean Road

Bellshill

Lanarkshire

ML4 1EF

REGISTERED NUMBER:

SC619165 (Scotland)

ACCOUNTANTS:

S&W Partners (Scotland) Limited

Q Court

3 Quality Street

Edinburgh

EH4 5BP

FIXED ASSETS

Tangible assets

4

23,283

764

CURRENT ASSETS

Stocks

213,609

130,000

Debtors

5

176,826

28,340

Cash at bank and in hand

5,252

26,290

395,687

184,630

CREDITORS

Amounts falling due within one year

6

(550,653

)

(250,963

)

NET CURRENT LIABILITIES

(154,966

)

(66,333

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(131,683

)

(65,569

)

CREDITORS

Amounts falling due after more than one year

7

(22,824

)

(5,192

)

PROVISIONS FOR LIABILITIES

9

-

(191

)

NET LIABILITIES

(154,507

)

(70,952

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(154,607

)

(71,052

)

(154,507

)

(70,952

)

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2026 and were signed on its behalf by:

A Jokubaitis - Director

1.	STATUTORY INFORMATION

Baltics Int 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	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.

At the period end, the company had net liabilities of £154,507 (2025 - £70,952). The company continues to be supported by creditors who extend credit to fund operations. The support is expected to continue for a period of at least one year after the date of signing the financial statements.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable for the sale of used cars parts, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the consideration can be reliably measured.

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

-

the Company has transferred the significant risks and rewards of ownership to the buyer;

-

the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

-

the amount of revenue can be measured reliably;

-

it is probable that the Company will receive the consideration due under the transaction; and

-

the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Plant and machinery

-

25% per annum on cost

Fixtures and fittings

-

25% per annum on cost

Motor vehicles

-

33% per annum on cost

Computer equipment

-

33% per annum on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

IMPAIRMENT OF ASSETS

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss

STOCKS

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises of the salvage value of the vehicle purchased. Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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.

FINANCIAL INSTRUMENTS

The Company only 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 and loans to related parties.

Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

PROVISIONS FOR LIABILITIES

Provisions are recognised when the group has a present obligation (legal or constructive) as a result of a past event, it is probable that the group will be required to settle the 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 end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

CHANGE IN ACCOUNTING FRAMEWORK

The Company has prepared its financial statements for the year ended 31st January 2026 in accordance with FRS 102 Section 1A. The comparative financial statements for the year ended 31st January 2025 have been restated as the directors determined that the company should have applied FRS 102 Section 1A rather than FRS 105 in previous periods.

The adjustment to FRS 102 Section 1A has resulted in the recognition and measurement of provisions for liabilities which were not previously recognised under FRS 105. Comparatives figures have therefore been restated to reflect the requirements of FRS 102 Section 1A.

The impact of the restatement of the company's financial position at 31st January 2025 is summarised below:

As Previously Reported

Adjustment

Restated

£

£

£

Deferred tax provision

nil

191

191

Retained Earnings

(188,160)

(191)

(188,351)

Net Liabilities

(188,060)

(191)

(188,251)

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2025 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 February 2025

-

-

-

3,096

3,096

Additions

3,991

7,129

12,000

6,576

29,696

Disposals

-

-

-

(1,386

)

(1,386

)

At 31 January 2026

3,991

7,129

12,000

8,286

31,406

DEPRECIATION

At 1 February 2025

-

-

-

2,332

2,332

Charge for year

831

1,211

3,656

1,107

6,805

Eliminated on disposal

-

-

-

(1,014

)

(1,014

)

At 31 January 2026

831

1,211

3,656

2,425

8,123

NET BOOK VALUE

At 31 January 2026

3,160

5,918

8,344

5,861

23,283

At 31 January 2025

-

-

-

764

764

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

as restated

£

£

Trade debtors

61,396

28,340

Other debtors

115,430

-

176,826

28,340

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

as restated

£

£

Bank loans and overdrafts

55,688

80,330

Trade creditors

29,446

1

Taxation and social security

358,058

131,556

Other creditors

107,461

39,076

550,653

250,963

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

as restated

£

£

Bank loans

6,526

5,192

Taxation and social security

16,298

-

22,824

5,192

8.	LEASING AGREEMENTS

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

2026

2025

as restated

£

£

Within one year

48,000

48,000

Between one and five years

51,682

99,682

99,682

147,682

9.	PROVISIONS FOR LIABILITIES

2026

2025

as restated

£

£

Deferred tax

-

191

Deferred

tax

£

Balance at 1 February 2025

191

Credit to Statement of Income and Retained Earnings during year

(191

)

Balance at 31 January 2026

-

10.	RELATED PARTY DISCLOSURES

Included within "Other Creditors" are amounts totalling £30,531 (2025 - £15,762) due to the directors from the company. The loans are interest free and repayable on demand.