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REGISTERED NUMBER: SC292773 (Scotland)














Unaudited Financial Statements

for the Year Ended 31 March 2023

for

House Fix (Scotland) Limited

House Fix (Scotland) Limited (Registered number: SC292773)






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


House Fix (Scotland) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: J G Campbell
I Fairfull





REGISTERED OFFICE: 111 Westwood Road
Newmains
Wishaw
ML2 9EL





REGISTERED NUMBER: SC292773 (Scotland)





ACCOUNTANTS: Gordon Ferguson & Co Ltd
76 Hamilton Road
Motherwell
Lanarkshire
ML1 3BY

House Fix (Scotland) Limited (Registered number: SC292773)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 80,709 100,283
Investment property 5 578,975 325,475
659,684 425,758

CURRENT ASSETS
Stocks 1,007,000 888,480
Debtors 6 550,100 650,065
1,557,100 1,538,545
CREDITORS
Amounts falling due within one year 7 1,160,474 930,441
NET CURRENT ASSETS 396,626 608,104
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,056,310

1,033,862

CREDITORS
Amounts falling due after more than one year 8 (65,951 ) (108,540 )

PROVISIONS FOR LIABILITIES (15,581 ) (15,581 )
NET ASSETS 974,778 909,741

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 974,774 909,737
974,778 909,741

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 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.

House Fix (Scotland) Limited (Registered number: SC292773)

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 Board of Directors and authorised for issue on 18 August 2023 and were signed on its behalf by:




J G Campbell - Director



I Fairfull - Director


House Fix (Scotland) Limited (Registered number: SC292773)

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

1. STATUTORY INFORMATION

House Fix (Scotland) 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

House Fix (Scotland) Limited (Registered number: SC292773)

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 13 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 59,750 113,938 2,691 176,379
Additions - - 579 579
At 31 March 2023 59,750 113,938 3,270 176,958
DEPRECIATION
At 1 April 2022 20,284 53,843 1,969 76,096
Charge for year 7,893 12,019 241 20,153
At 31 March 2023 28,177 65,862 2,210 96,249
NET BOOK VALUE
At 31 March 2023 31,573 48,076 1,060 80,709
At 31 March 2022 39,466 60,095 722 100,283

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 24,500 14,045 38,545
DEPRECIATION
At 1 April 2022 7,840 6,854 14,694
Charge for year 3,332 1,438 4,770
At 31 March 2023 11,172 8,292 19,464
NET BOOK VALUE
At 31 March 2023 13,328 5,753 19,081
At 31 March 2022 16,660 7,191 23,851

House Fix (Scotland) Limited (Registered number: SC292773)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 325,475
Additions 253,500
At 31 March 2023 578,975
NET BOOK VALUE
At 31 March 2023 578,975
At 31 March 2022 325,475

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2015 325,475
Valuation in 2023 253,500
578,975

If investment properties had not been revalued they would have been included at the following historical cost:

31.3.23 31.3.22
£    £   
Cost 322,261 322,261

Investment properties were valued on an open market basis on 31 January 2015 by DM Hall Chartered Surveyors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 549,650 649,615
Other debtors 450 450
550,100 650,065

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 199,459 135,270
Hire purchase contracts 5,000 8,240
Trade creditors 124,330 98,580
Taxation and social security 29,622 22,581
Other creditors 802,063 665,770
1,160,474 930,441

The bank loans and overdraft are secured by a standard security over the company's properties and a bond and floating charge over the assets of the company.

Hire purchase creditors are secured over the assets concerned.

House Fix (Scotland) Limited (Registered number: SC292773)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 64,284 101,832
Hire purchase contracts 1,667 6,708
65,951 108,540