Company registration number SC299646 (Scotland)
MARGARET MORRISON LTD.
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
PAGES FOR FILING WITH REGISTRAR
MARGARET MORRISON LTD.
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
MARGARET MORRISON LTD.
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
4
286,566
291,026
Current assets
Stocks
93,000
78,395
Debtors
5
21,451
26,385
Investments
6
12,732
12,732
Cash at bank and in hand
455,338
522,522
582,521
640,034
Creditors: amounts falling due within one year
7
(41,010)
(73,777)
Net current assets
541,511
566,257
Net assets
828,077
857,283
Capital and reserves
Called up share capital
1
1
Capital redemption reserve
1
1
Profit and loss reserves
828,075
857,281
Total equity
828,077
857,283

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 2 July 2026 and are signed on its behalf by:
Mr G Whyte
Director
Company registration number SC299646 (Scotland)
MARGARET MORRISON LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 2 -
1
Accounting policies
Company information

Margaret Morrison Ltd. is a private company limited by shares incorporated in Scotland. The registered office is 2 Marshall Place, Perth, Perthshire, Scotland, PH2 8AH.

1.1
Basis of preparation

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

1.3
Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill
10% straight line
1.4
Tangible fixed assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any a ccumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & machinery
25% straight line
Office equipment
33% straight line
Motor vehicles
25% reducing balance
MARGARET MORRISON LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 3 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. 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.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

1.6
Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

1.7
Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

1.8
Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax

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 at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

MARGARET MORRISON LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 4 -
1.9

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
7
6
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2025 and 31 March 2026
350,000
Amortisation and impairment
At 1 April 2025 and 31 March 2026
350,000
Carrying amount
At 31 March 2026
-
0
At 31 March 2025
-
0
MARGARET MORRISON LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 5 -
4
Tangible fixed assets
Freehold land and buildings
Plant & machinery
Office equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2025
251,834
73,432
11,139
116,081
452,486
Additions
-
0
19,104
-
0
-
0
19,104
Disposals
-
0
(8,418)
-
0
(33,329)
(41,747)
At 31 March 2026
251,834
84,118
11,139
82,752
429,843
Depreciation and impairment
At 1 April 2025
-
0
62,031
11,139
88,290
161,460
Depreciation charged in the year
-
0
10,684
-
0
4,971
15,655
Eliminated in respect of disposals
-
0
(8,418)
-
0
(25,420)
(33,838)
At 31 March 2026
-
0
64,297
11,139
67,841
143,277
Carrying amount
At 31 March 2026
251,834
19,821
-
0
14,911
286,566
At 31 March 2025
251,834
11,401
-
0
27,791
291,026
5
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
12,382
16,878
Other debtors
9,069
9,507
21,451
26,385
6
Current asset investments
2026
2025
£
£
Other investments
12,732
12,732
7
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
2,675
1,398
Taxation and social security
24,943
52,524
Other creditors
13,392
19,855
41,010
73,777
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