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REGISTERED NUMBER: SC412993 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

HAYWAY JOINERY LIMITED

HAYWAY JOINERY LIMITED (REGISTERED NUMBER: SC412993)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HAYWAY JOINERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: J Hay





SECRETARY:





REGISTERED OFFICE: Craigview
Auchincruive
AYR
KA6 5HU





REGISTERED NUMBER: SC412993 (Scotland)





ACCOUNTANTS: Stewart Gilmour & Co.
Chartered Accountants
24 Beresford Terrace
Ayr
KA7 2EG

HAYWAY JOINERY LIMITED (REGISTERED NUMBER: SC412993)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 41,131 42,792

CURRENT ASSETS
Stocks 5 25,000 17,740
Debtors 6 63,806 73,025
Cash at bank 17,086 18,272
105,892 109,037
CREDITORS
Amounts falling due within one year 7 41,906 22,689
NET CURRENT ASSETS 63,986 86,348
TOTAL ASSETS LESS CURRENT
LIABILITIES

105,117

129,140

CREDITORS
Amounts falling due after more than one
year

8

-

(34,827

)

PROVISIONS FOR LIABILITIES 9 (10,283 ) (8,130 )
NET ASSETS 94,834 86,183

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 94,734 86,083
SHAREHOLDERS' FUNDS 94,834 86,183

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

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

HAYWAY JOINERY LIMITED (REGISTERED NUMBER: SC412993)

BALANCE SHEET - continued
31 DECEMBER 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 14 September 2024 and were signed by:





J Hay - Director


HAYWAY JOINERY LIMITED (REGISTERED NUMBER: SC412993)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Hayway Joinery 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.

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.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

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.

HAYWAY JOINERY LIMITED (REGISTERED NUMBER: SC412993)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 47,351 58,892 3,213 109,456
Additions 9,769 - - 9,769
At 31 December 2023 57,120 58,892 3,213 119,225
DEPRECIATION
At 1 January 2023 22,928 42,737 999 66,664
Charge for year 6,838 4,039 553 11,430
At 31 December 2023 29,766 46,776 1,552 78,094
NET BOOK VALUE
At 31 December 2023 27,354 12,116 1,661 41,131
At 31 December 2022 24,423 16,155 2,214 42,792

5. STOCKS
2023 2022
£    £   
Work-in-progress 25,000 17,740

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 3,805 13,024

Amounts falling due after more than one year:
Other debtors 60,001 60,001

Aggregate amounts 63,806 73,025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 14,900 6,738
Tax 13,915 7,169
Social security and other taxes 1,128 404
VAT 8,807 5,202
Directors' current accounts 256 476
Accrued expenses 2,900 2,700
41,906 22,689

HAYWAY JOINERY LIMITED (REGISTERED NUMBER: SC412993)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bounce back loan - 34,827

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 10,283 8,130

Deferred
tax
£   
Balance at 1 January 2023 8,130
Provided during year 2,153
Balance at 31 December 2023 10,283

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

11. RESERVES
Retained
earnings
£   

At 1 January 2023 86,083
Profit for the year 50,151
Dividends (41,500 )
At 31 December 2023 94,734