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REGISTERED NUMBER: SC249874 (Scotland)















Unaudited Financial Statements

for the Year Ended 30 June 2023

for

HOWIESON OF NEWMAINS LIMITED

HOWIESON OF NEWMAINS LIMITED (REGISTERED NUMBER: SC249874)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


HOWIESON OF NEWMAINS LIMITED

Company Information
for the Year Ended 30 June 2023







DIRECTOR: C Howieson





REGISTERED OFFICE: 64 Manse Road
Newmains
Wishaw
ML2 9AX





REGISTERED NUMBER: SC249874 (Scotland)





ACCOUNTANTS: Profit Counts Limited
13 Glasgow Road
Paisley
Renfrewshire
PA1 3QS

HOWIESON OF NEWMAINS LIMITED (REGISTERED NUMBER: SC249874)

Abridged Balance Sheet
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 95,465 112,926

CURRENT ASSETS
Stocks 17,604 10,289
Debtors 20,059 9,347
Cash at bank 111,992 36,077
149,655 55,713
CREDITORS
Amounts falling due within one year (125,404 ) (73,885 )
NET CURRENT ASSETS/(LIABILITIES) 24,251 (18,172 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

119,716

94,754

CREDITORS
Amounts falling due after more than one
year

(20,000

)

(30,000

)

PROVISIONS FOR LIABILITIES (17,464 ) (20,633 )
NET ASSETS 82,252 44,121

CAPITAL AND RESERVES
Called up share capital 6 2 2
Retained earnings 7 82,250 44,119
SHAREHOLDERS' FUNDS 82,252 44,121

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

HOWIESON OF NEWMAINS LIMITED (REGISTERED NUMBER: SC249874)

Abridged Balance Sheet - continued
30 June 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 12 September 2024 and were signed by:





C Howieson - Director


HOWIESON OF NEWMAINS LIMITED (REGISTERED NUMBER: SC249874)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Howieson of Newmains 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 stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

HOWIESON OF NEWMAINS LIMITED (REGISTERED NUMBER: SC249874)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Government grants
Government grants received in respect of fixed assets are capitalised in the balance sheet as a liability and amortised as income to the profit and loss over the estimated life of the assets.

Government grants received in respect of revenue items are shown as income, in the Other income section of the accounts. Receipts from the Coronavirus Job Retention Scheme are show separately within the same section.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022 391,108
Additions 6,800
At 30 June 2023 397,908
DEPRECIATION
At 1 July 2022 278,182
Charge for year 24,261
At 30 June 2023 302,443
NET BOOK VALUE
At 30 June 2023 95,465
At 30 June 2022 112,926

Included within the net book value of the fixed assets at the balance sheet date is £6,834 (2022: £9,112) relating to assets subject to hire purchase contracts. Depreciation of £2,278 (2022: £3,037) was charged on these assets in the year. The HP agreement ended during the year.

5. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire Purchase - 1,500

The hire purchase creditors are secured over the assets being financed.

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £ 1 2 2

HOWIESON OF NEWMAINS LIMITED (REGISTERED NUMBER: SC249874)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. RESERVES
Retained
earnings
£   

At 1 July 2022 44,119
Profit for the year 138,131
Dividends (100,000 )
At 30 June 2023 82,250

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed the director £5,145 (2022: £nil).