REGISTERED NUMBER: SC344283 (Scotland)

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2026

FOR

REDPATH CONSTRUCTION LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

DIRECTORS:

A T Sloan

J Pritchard

S Cardwell

W C Moore

I K Collins

SECRETARY:

A T Sloan

REGISTERED OFFICE:

4 Spiersbridge Way

Glasgow

G46 8NG

REGISTERED NUMBER:

SC344283 (Scotland)

AUDITORS:

Galbraith Pritchards

Chartered Accountants & Statutory Auditor

20 Barns Street

Ayr

Ayrshire

KA7 1XA

REVIEW OF BUSINESS

The directors present the strategic report, accounts and directors' report for the year to May 2026.

During the year we appointed three new directors; Susan Cardwell, Clark Moore and Iain Collins; each of whom has played a key role in our development over the past ten years or so.

Together with the founding directors, Jim Pritchard and Alistair Sloan, the new board comprises a talented, experienced and motivated team capable of driving further success, whilst maintaining our strong company culture and providing continuity for our clients, our staff and our supply chain.

Turnover in the year increased by 59% to £17.7m and pre-tax profits increased by 50% to £742,000, giving a net profit margin of 4.2%.

In the post-covid period, our average net profit margin has been 3.9%. Over the same period, the average margin of the largest 100 contractors in the UK was 2.2%. We consider that our margins over that period have consistently been in the upper quartile of the UK industry.

£7.1m of our turnover (40%) was achieved on eight projects within our framework agreement with the NHS. Those contracts have a total value of £11.1m, giving an average per project of £1.4m.

That work included a major refurbishment of the maternity unit at the Royal Alexandra Hospital in Paisley, the creation of a new vaccination centre in Coatbridge, and two ward refurbishments at the Queen Elizabeth University Hospital in Glasgow (following three refurbishments that we have completed in previous years within the hospital).

We know that the NHS place significant emphasis on quality submissions at tender stage; in addition to seeking value for money. We are hopeful that the exceptional service that our team has provided on multiple projects over the past ten years will allow us to achieve a steady flow of future work from this extremely valuable client.

20% of our turnover was carried out on a series of higher education projects including our framework for the University of Glasgow, our ongoing relationship with Queen Margaret University in Edinburgh, and a RAAC replacement project for Glasgow Clyde College.

The level of turnover from UoG was lower than anticipated when we secured a place on the framework in 2024, but we have a good working relationship with the University, and we are optimistic of growth over the next few years.

We continue to focus significant attention on commercial refurbishment projects which comprised 25% of our turnover, including a large refurbishment in Buchanan Street in Glasgow for Land Securities, with whom we have worked for over ten years. Land Sec have major plans to transform a key site in Glasgow, and we are hopeful that our relationship will help to support our client through an exciting stage in their development.

The remaining 15% of turnover came from new build projects, including the completion of a £930,000 KFC drive-through in Airdrie. In addition, during the year we started a £5.3m warehouse and office project in Lochgelly and a £5.4m science and technology facility in Glasgow. Most of the turnover on those two contracts will arise in the year to May 2027.

One of our targets is to achieve an even spread of turnover across those four key markets - NHS, higher education, commercial refurbishment and commercial new build. In addition, we are targeting a greater percentage of work in Edinburgh and Eastern Scotland.

With a clear strategy of focussing on our key markets and with the ongoing support of our staff, our supply chain and our clients, we remain optimistic that we are in a strong position to enjoy growth in turnover and profits.

We would again like to express our gratitude towards our staff and our supply chain for the exceptional support that they have given to the company.

PRINCIPAL RISKS AND UNCERTAINTIES

The management of the company is subject to a number of risks which are monitored on a daily, weekly or monthly basis as appropriate.

The company has invested heavily in systems, procedures and training, which are backed up by a management team with an obsessive drive to achieve a culture of excellence in every area of the business.

Our top priority each day is ensuring that we protect the health and safety of our employees, our supply chain, our clients and members of the public.

Our operational priorities focus on ensuring that all works are carried out both properly and punctually, with particular attention to protecting the environment.

We strive hard to be a good employer and recognise the fundamental importance of motivating, rewarding, developing and retaining our staff.

Our financial risks are managed through careful tendering and budgeting, vetting of our supply chain, detailed monthly financial projections on each project and a daily focus on cash and debtors.

Our key performance indicators reflect those risks and include measurements of:

Health and safety

Marketing campaigns

Estimating and tendering

Contract quality performance

Customer satisfaction

Contract completion dates

Subcontractor performance

Staff training and inductions

Staff retention

Supply chain training

Procurement

Contract profitability

Debtor management

Cash flow

ON BEHALF OF THE BOARD:

A T Sloan - Director

3 November 2026

The directors present their report with the financial statements of the company for the year ended 31 May 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of building contracting.

DIVIDENDS

No dividends will be distributed for the year ended 31 May 2026.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 June 2025 to the date of this report.

A T Sloan

J Pritchard

Other changes in directors holding office are as follows:

S Cardwell - appointed 18 February 2026

W C Moore - appointed 18 February 2026

I K Collins - appointed 18 February 2026

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Galbraith Pritchards, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A T Sloan - Director

3 November 2026

Opinion

We have audited the financial statements of Redpath Construction Limited (the 'company') for the year ended 31 May 2026 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 May 2026 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and, enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Marguerite Roos BAcc CA (Senior Statutory Auditor)

for and on behalf of Galbraith Pritchards

Chartered Accountants & Statutory Auditor

20 Barns Street

Ayr

Ayrshire

KA7 1XA

3 November 2026

TURNOVER

3

17,670,137

11,085,271

Cost of sales

15,301,352

9,086,560

GROSS PROFIT

2,368,785

1,998,711

Administrative expenses

1,636,102

1,520,478

OPERATING PROFIT

5

732,683

478,233

Interest receivable and similar income

8,933

16,168

PROFIT BEFORE TAXATION

741,616

494,401

Tax on profit

6

197,244

121,655

PROFIT FOR THE FINANCIAL YEAR

544,372

372,746

PROFIT FOR THE YEAR

544,372

372,746

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

544,372

372,746

FIXED ASSETS

Tangible assets

7

13,222

6,666

Investments

8

30,000

30,000

43,222

36,666

CURRENT ASSETS

Debtors: amounts falling due within one year

9

5,295,943

4,176,149

Debtors: amounts falling due after more than one year

9

2,506,872

1,928,021

Cash at bank

1,938,414

596,473

9,741,229

6,700,643

CREDITORS

Amounts falling due within one year

10

6,655,031

4,305,301

NET CURRENT ASSETS

3,086,198

2,395,342

TOTAL ASSETS LESS CURRENT LIABILITIES

3,129,420

2,432,008

CREDITORS

Amounts falling due after more than one year

11

(783,886

)

(632,484

)

PROVISIONS FOR LIABILITIES

15

(3,305

)

(1,667

)

NET ASSETS

2,342,229

1,797,857

CAPITAL AND RESERVES

Called up share capital

16

51,000

51,000

Retained earnings

17

2,291,229

1,746,857

SHAREHOLDERS' FUNDS

2,342,229

1,797,857

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2026 and were signed on its behalf by:

A T Sloan - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 June 2024

51,000

1,374,111

1,425,111

Changes in equity

Total comprehensive income

-

372,746

372,746

Balance at 31 May 2025

51,000

1,746,857

1,797,857

Changes in equity

Total comprehensive income

-

544,372

544,372

Balance at 31 May 2026

51,000

2,291,229

2,342,229

Cash flows from operating activities

Cash generated from operations

1

1,403,520

(1,213,688

)

Tax paid

(126,596

)

(174,613

)

Net cash from operating activities

1,276,924

(1,388,301

)

Cash flows from investing activities

Purchase of tangible fixed assets

(16,756

)

(2,405

)

Interest received

8,933

16,168

Net cash from investing activities

(7,823

)

13,763

Cash flows from financing activities

New loans in year

266,250

438,800

Loan repayments in year

(193,410

)

(159,840

)

Net cash from financing activities

72,840

278,960

Increase/(decrease) in cash and cash equivalents

1,341,941

(1,095,578

)

Cash and cash equivalents at beginning of year

2

596,473

1,692,051

Cash and cash equivalents at end of year

2

1,938,414

596,473

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31/5/26

31/5/25

£

£

Profit before taxation

741,616

494,401

Depreciation charges

10,200

10,200

Finance income

(8,933

)

(16,168

)

742,883

488,433

Increase in trade and other debtors

(1,698,645

)

(350,917

)

Increase/(decrease) in trade and other creditors

2,359,282

(1,351,204

)

Cash generated from operations

1,403,520

(1,213,688

)

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 May 2026

31/5/26

1/6/25

£

£

Cash and cash equivalents

1,938,414

596,473

Year ended 31 May 2025

31/5/25

1/6/24

£

£

Cash and cash equivalents

596,473

1,692,051

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/6/25

Cash flow

At 31/5/26

£

£

£

Net cash

Cash at bank

596,473

1,341,941

1,938,414

596,473

1,341,941

1,938,414

Debt

Debts falling due within 1 year

(134,243

)

(25,298

)

(159,541

)

Debts falling due after 1 year

(295,791

)

(47,542

)

(343,333

)

(430,034

)

(72,840

)

(502,874

)

Total

166,439

1,269,101

1,435,540

1.	STATUTORY INFORMATION

Redpath Construction Limited 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.	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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

After reviewing the company forecasts and projections for at least 12 months after the date of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They are satisfied that it is appropriate to prepare the accounts on the going concern basis of accounting. The company's management of working capital is extremely effective, and the directors are satisfied that adequate resources will be available through future cash flows to meet liabilities as they fall due.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, which are described in note 2, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover recognition on contracts

The company's turnover policy, set out in note 2, requires projections to be made of the outcomes of construction contracts based on their stage of completion. This requires both estimates and judgements to be made of both cost and income recognition on each contract.

Judgements and estimates are reviewed on a monthly basis and throughout the contract life based on the latest available information and adjustments are made where necessary.

TURNOVER

Turnover, which is stated net of value added tax, represents amounts invoiced to third parties, except in respect of long term contracts where turnover represents the sales value of work done in the year, including estimates in respect of amounts not invoiced. Turnover in respect of long term contracts is calculated based on the estimated stage of completion compared to the overall value of the contract.

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.

Fixtures and fittings

-

20% on cost

Computer equipment

-

at varying rates on cost

A review of impairment is carried out at each reporting date. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

INVESTMENTS IN ASSOCIATES

Investments in associate undertakings are recognised at cost.

FINANCIAL INSTRUMENTS

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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.

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.

EMPLOYEE BENEFITS

Short-term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

When employees have rendered service to the company, short term benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. Principally this includes the holiday pay accrual calculated at the year end.

LONG TERM CONTRACTS

Profit on long term contracts is recognised as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contracts actively progress. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Full provision is made for any losses when they are first foreseen.

PROVISIONS

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

4.	EMPLOYEES AND DIRECTORS

Year Ended

Period Ended

31/05/26

31/05/25

£

£

Wages and salaries

2,224,373

2,144,457

Social security costs

317,904

255,831

Other Pension Costs

111,401

100,116

2,653,678

2,500,404

The average number of employees in the year was as follows:

35

34

31/5/26

31/5/25

£

£

Directors' remuneration

267,241

140,000

Directors' pension contributions to money purchase schemes

25,332

20,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

5

2

Information regarding the highest paid director for the year ended 31 May 2026 is as follows:

31/5/26

£

Emoluments etc

138,750

Pension contributions to money purchase schemes

10,000

5.	OPERATING PROFIT

The operating profit is stated after charging:

31/5/26

31/5/25

£

£

Other operating leases

42,000

42,000

Depreciation - owned assets

10,200

10,200

Auditors' remuneration

8,500

8,160

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31/5/26

31/5/25

£

£

Current tax:

UK corporation tax

195,606

123,603

Deferred tax

1,638

(1,948

)

Tax on profit

197,244

121,655

UK corporation tax was charged at 25%) in 2025.

RECONCILIATION OF TOTAL TAX CHARGE INCLUDED IN PROFIT AND LOSS

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31/5/26

31/5/25

£

£

Profit before tax

741,616

494,401

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%)

185,404

123,600

Effects of:

Expenses not deductible for tax purposes

2,503

1,169

Capital allowances in excess of depreciation

(1,639

)

-

Depreciation in excess of capital allowances

-

1,949

Adjustments to tax charge in respect of previous periods

9,338

(3,115

)

Deferred tax

1,638

(1,948

)

Total tax charge

197,244

121,655

7.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 June 2025

19,285

149,293

168,578

Additions

-

16,756

16,756

At 31 May 2026

19,285

166,049

185,334

DEPRECIATION

At 1 June 2025

19,285

142,627

161,912

Charge for year

-

10,200

10,200

At 31 May 2026

19,285

152,827

172,112

NET BOOK VALUE

At 31 May 2026

-

13,222

13,222

At 31 May 2025

-

6,666

6,666

8.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 June 2025

and 31 May 2026

30,000

NET BOOK VALUE

At 31 May 2026

30,000

At 31 May 2025

30,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

ASSOCIATED COMPANY

Redpath Interiors Limited

Registered office: 4 Spiersbridge Way,Thornliebank, Glasgow,G46 8NG

Nature of business: Building contracting

%

Class of shares:

holding

Ordinary

50.00

30/6/25

30/6/24

£

£

Aggregate capital and reserves

30,593

30,783

Loss for the year

(190

)

-