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REGISTERED NUMBER: SC497334 (Scotland)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Haven Joiners and Builders Limited

Haven Joiners and Builders Limited (Registered number: SC497334)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Haven Joiners and Builders Limited (Registered number: SC497334)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 42,813 85,006

CURRENT ASSETS
Stocks 47,560 16,680
Debtors 5 228,285 229,798
Cash at bank 89,069 10,438
364,914 256,916
CREDITORS
Amounts falling due within one year 6 (179,915 ) (186,440 )
NET CURRENT ASSETS 184,999 70,476
TOTAL ASSETS LESS CURRENT
LIABILITIES

227,812

155,482

CREDITORS
Amounts falling due after more than one
year

7

(40,423

)

(49,427

)

PROVISIONS FOR LIABILITIES (10,703 ) (9,501 )
NET ASSETS 176,686 96,554

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 176,586 96,454
176,686 96,554

Haven Joiners and Builders Limited (Registered number: SC497334)

Balance Sheet - continued
29 February 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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 June 2024 and were signed on its behalf by:




Mr B Holwell - Director



Mr J L Brown - Director


Haven Joiners and Builders Limited (Registered number: SC497334)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Haven Joiners and Builders Limited is a private company, limited by shares, domiciled in Scotland, registration number SC497334. The registered office is Unit 52b Bandeath Industrial Estate,Throsk,Stirling, FK7 7NP.

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 represents net invoiced sales of goods and services in respect of builders and joiners, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Tangible fixed assets and depreciation
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 - 33% on cost and 25% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represents purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

Haven Joiners and Builders Limited (Registered number: SC497334)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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.

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is
determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 27 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 35,000 144,854 179,854
Additions - 16,830 16,830
Disposals (35,000 ) - (35,000 )
At 29 February 2024 - 161,684 161,684
DEPRECIATION
At 1 March 2023 - 94,848 94,848
Charge for year - 24,023 24,023
At 29 February 2024 - 118,871 118,871
NET BOOK VALUE
At 29 February 2024 - 42,813 42,813
At 28 February 2023 35,000 50,006 85,006

Haven Joiners and Builders Limited (Registered number: SC497334)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 1 March 2023 47,334
Additions 14,093
At 29 February 2024 61,427
DEPRECIATION
At 1 March 2023 14,937
Charge for year 16,243
At 29 February 2024 31,180
NET BOOK VALUE
At 29 February 2024 30,247
At 28 February 2023 32,397

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 97,365 104,466
Amounts owed by related parties 1,500 -
Other debtors 129,420 125,332
228,285 229,798

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 19,500 19,500
Hire purchase contracts 11,921 14,448
Trade creditors 2,936 5,404
Amounts owed to related parties - 23,013
Taxation and social security 62,907 30,352
Other creditors 82,651 93,723
179,915 186,440

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 31,745 40,625
Hire purchase contracts 8,678 8,802
40,423 49,427

Haven Joiners and Builders Limited (Registered number: SC497334)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Hire purchase contracts 20,599 23,250

The bank has a floating charge over the property of the company.

Balances due on hire purchase agreements are secured on the assets to which they relate.

9. RELATED PARTY DISCLOSURES

At year end 29th February 2024 Haven Joiners and Builders Limited is owed £1,500 from related parties (2023:£23,013 owed to related party).