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REGISTERED NUMBER: SC592248 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Harkness Painting & Decorating Ltd

Harkness Painting & Decorating Ltd (Registered number: SC592248)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Harkness Painting & Decorating Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: G A Harkness





REGISTERED OFFICE: Unit 1b Sydney Place
Lockerbie
Dumfries & Galloway
DG11 2JA





REGISTERED NUMBER: SC592248 (Scotland)





ACCOUNTANTS: CMCA Accounting
25A Buccleuch Street
Dumfries
Dumfries & Galloway
DG1 2AT

Harkness Painting & Decorating Ltd (Registered number: SC592248)

Balance Sheet
31 March 2023

31.3.22 31.3.23
£    £    Notes £    £   
FIXED ASSETS
71,560 Tangible assets 4 58,985

CURRENT ASSETS
7,000 Stocks 8,000
66,556 Debtors 5 55,375
13,415 Cash at bank 27,543
86,971 90,918
CREDITORS
54,634 Amounts falling due within one year 6 59,670
32,337 NET CURRENT ASSETS 31,248
103,897 TOTAL ASSETS LESS CURRENT
LIABILITIES

90,233

CREDITORS
(37,926 ) Amounts falling due after more than one
year

7

(26,475

)

(13,596 ) PROVISIONS FOR LIABILITIES (11,207 )
52,375 NET ASSETS 52,551

CAPITAL AND RESERVES
10 Called up share capital 10
52,365 Retained earnings 52,541
52,375 52,551

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Harkness Painting & Decorating Ltd (Registered number: SC592248)

Balance Sheet - continued
31 March 2023


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 28 July 2023 and were signed by:





G A Harkness - Director


Harkness Painting & Decorating Ltd (Registered number: SC592248)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Harkness Painting & Decorating 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.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Harkness Painting & Decorating Ltd (Registered number: SC592248)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 106,959
Additions 450
At 31 March 2023 107,409
DEPRECIATION
At 1 April 2022 35,399
Charge for year 13,025
At 31 March 2023 48,424
NET BOOK VALUE
At 31 March 2023 58,985
At 31 March 2022 71,560

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 65,632
DEPRECIATION
At 1 April 2022 21,737
Charge for year 8,775
At 31 March 2023 30,512
NET BOOK VALUE
At 31 March 2023 35,120
At 31 March 2022 43,895

Harkness Painting & Decorating Ltd (Registered number: SC592248)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 55,375 65,243
Other debtors - 1,313
55,375 66,556

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 11,135 11,710
Trade creditors 14,518 20,307
Taxation and social security 19,283 21,433
Other creditors 14,734 1,184
59,670 54,634

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 26,475 37,926

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At 31 March 2023 an amount of £NIL (2022 - £84 ) was due to Mr Harkness by means of a directors loan account.