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REGISTERED NUMBER: SC292773 (Scotland)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

House Fix (Scotland) Limited

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






Contents of the Financial Statements
for the Year Ended 31 March 2024




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 2024







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 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,984 80,709
Investment property 5 578,975 578,975
622,959 659,684

CURRENT ASSETS
Stocks 1,007,000 1,007,000
Debtors 6 350,393 550,100
1,357,393 1,557,100
CREDITORS
Amounts falling due within one year 7 1,253,866 1,160,474
NET CURRENT ASSETS 103,527 396,626
TOTAL ASSETS LESS CURRENT
LIABILITIES

726,486

1,056,310

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

PROVISIONS FOR LIABILITIES (15,581 ) (15,581 )
NET ASSETS 710,905 974,778

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 710,901 974,774
710,905 974,778

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 2024


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 15 July 2024 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 2024

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 2024

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 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 59,750 113,938 3,270 176,958
Disposals (1,750 ) (55,001 ) - (56,751 )
At 31 March 2024 58,000 58,937 3,270 120,207
DEPRECIATION
At 1 April 2023 28,177 65,862 2,210 96,249
Charge for year 6,295 8,530 212 15,037
Eliminated on disposal (1,409 ) (33,654 ) - (35,063 )
At 31 March 2024 33,063 40,738 2,422 76,223
NET BOOK VALUE
At 31 March 2024 24,937 18,199 848 43,984
At 31 March 2023 31,573 48,076 1,060 80,709

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 2023 24,500 14,045 38,545
Disposals - (14,045 ) (14,045 )
At 31 March 2024 24,500 - 24,500
DEPRECIATION
At 1 April 2023 11,172 8,292 19,464
Charge for year 2,666 863 3,529
Eliminated on disposal - (9,155 ) (9,155 )
At 31 March 2024 13,838 - 13,838
NET BOOK VALUE
At 31 March 2024 10,662 - 10,662
At 31 March 2023 13,328 5,753 19,081

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

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 578,975
NET BOOK VALUE
At 31 March 2024 578,975
At 31 March 2023 578,975

Fair value at 31 March 2024 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:

31.3.24 31.3.23
£    £   
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
31.3.24 31.3.23
£    £   
Trade debtors 349,943 549,650
Other debtors 450 450
350,393 550,100

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 246,382 199,459
Hire purchase contracts 1,667 5,000
Trade creditors 82,484 124,330
Taxation and social security 46,965 29,622
Other creditors 876,368 802,063
1,253,866 1,160,474

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 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 64,284
Hire purchase contracts - 1,667
- 65,951