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REGISTERED NUMBER: SC303241 (Scotland)















Henderson Decorators Limited

Financial Statements For The Year Ended 30 September 2024






Henderson Decorators Limited (Registered number: SC303241)






Contents of the Financial Statements
For The Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 10

Henderson Decorators Limited

Company Information
For The Year Ended 30 September 2024







DIRECTORS: D W Henderson
Mrs M E Henderson
C W Henderson
Mrs J R Croasdale
Ms E J Henderson





SECRETARY: Mrs M E Henderson





REGISTERED OFFICE: Park House Centre
South Street
Elgin
Moray
IV30 1JB





REGISTERED NUMBER: SC303241 (Scotland)





ACCOUNTANTS: The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB

Henderson Decorators Limited (Registered number: SC303241)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,568,381 1,427,288
1,568,381 1,427,288

CURRENT ASSETS
Stocks 6,759 9,764
Debtors 6 762,461 987,079
Cash at bank 1,855,492 1,667,271
2,624,712 2,664,114
CREDITORS
Amounts falling due within one year 7 644,676 903,301
NET CURRENT ASSETS 1,980,036 1,760,813
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,548,417

3,188,101

CREDITORS
Amounts falling due after more than one
year

8

(59,286

)

(179,396

)

PROVISIONS FOR LIABILITIES 9 (326,942 ) (256,785 )
NET ASSETS 3,162,189 2,751,920

CAPITAL AND RESERVES
Called up share capital 10 160 130
Retained earnings 11 3,162,029 2,751,790
SHAREHOLDERS' FUNDS 3,162,189 2,751,920

Henderson Decorators Limited (Registered number: SC303241)

Balance Sheet - continued
30 September 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 25 February 2025 and were signed on its behalf by:




Mrs M E Henderson - Director D W Henderson - Director




C W Henderson - Director Mrs J R Croasdale - Director




Ms E J Henderson - Director


Henderson Decorators Limited (Registered number: SC303241)

Notes to the Financial Statements
For The Year Ended 30 September 2024

1. STATUTORY INFORMATION

Henderson Decorators 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.

Goodwill
Goodwill is the amount paid in connection with the acquisition of a business in 2006. After initially being amortised evenly over its estimated useful life of twenty years, the remainder (since 1 October 2015) is now being amortised evenly over its remaining estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Equipment - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

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.

Henderson Decorators Limited (Registered number: SC303241)

Notes to the Financial Statements - continued
For The Year Ended 30 September 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 61 (2023 - 89 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 60,000
AMORTISATION
At 1 October 2023
and 30 September 2024 60,000
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

Henderson Decorators Limited (Registered number: SC303241)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS
Land and
buildings Equipment Totals
£    £    £   
COST
At 1 October 2023 260,615 2,202,104 2,462,719
Additions - 370,477 370,477
Disposals - (63,350 ) (63,350 )
At 30 September 2024 260,615 2,509,231 2,769,846
DEPRECIATION
At 1 October 2023 - 1,035,431 1,035,431
Charge for year - 210,716 210,716
Eliminated on disposal - (44,682 ) (44,682 )
At 30 September 2024 - 1,201,465 1,201,465
NET BOOK VALUE
At 30 September 2024 260,615 1,307,766 1,568,381
At 30 September 2023 260,615 1,166,673 1,427,288

During 2020, heritable property held by the company was sold for £60,000 to a self invested personal pension for the directors. As part of the same arrangement, separately held heritable property at adjoining locations, held by the directors personally and also used by the company was sold to the pension fund for £200,000. All the heritable property sold to the pension fund is being leased back to the company for around £26,000 per annum.

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

Equipment
£   
COST
At 1 October 2023 589,699
Additions 55,927
Disposals (21,000 )
Transfer to ownership (121,691 )
At 30 September 2024 502,935
DEPRECIATION
At 1 October 2023 265,331
Charge for year 76,504
Eliminated on disposal (12,141 )
Transfer to ownership (70,830 )
At 30 September 2024 258,864
NET BOOK VALUE
At 30 September 2024 244,071
At 30 September 2023 324,368

Henderson Decorators Limited (Registered number: SC303241)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 438,478 702,480
Other debtors 323,983 284,599
762,461 987,079

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts - 9,548
Hire purchase contracts 91,400 114,022
Trade creditors 312,905 380,198
Taxation and social security 91,519 284,721
Other creditors 148,852 114,812
644,676 903,301

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans - 26,075
Hire purchase contracts 59,286 153,321
59,286 179,396

9. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax 326,942 256,785

Deferred
tax
£   
Balance at 1 October 2023 256,785
Provided during year 70,157
Balance at 30 September 2024 326,942

Henderson Decorators Limited (Registered number: SC303241)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
35 Ordinary A £1 35 35
35 Ordinary B £1 35 35
30 Ordinary C £1 30 30
30 Ordinary D £1 30 30
30 Ordinary E £1 30 -
160 130

The following shares were issued during the year for cash at par :

30 Ordinary E shares of £1

11. RESERVES
Retained
earnings
£   

At 1 October 2023 2,751,790
Profit for the year 619,239
Dividends (209,000 )
At 30 September 2024 3,162,029

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £209,000 (2023 - £128,000) were paid to the directors .

D W and M E Henderson

directors in the company.


A loan has been given to the company by the directors. No interest is charged on the amount outstanding and no repayment terms have been agreed.

30.9.24 30.9.23
£    £   
Amount due to related party at the balance sheet date 676 52

C W Henderson
a director in the company.


A loan has been given to the company by the director. No interest is charged on the amount outstanding and no repayment terms have been agreed.

30.9.24 30.9.23
£    £   
Amount due to related party at the balance sheet date 1,499 1,187

Henderson Decorators Limited (Registered number: SC303241)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

12. RELATED PARTY DISCLOSURES - continued

Mrs J R Croasdale
a director in the company


A loan has been given to the company from the director. No interest is charged on the amount outstanding and no repayment terms have been agreed.

30.9.24 30.9.23
£    £   
Amount due to related party at the balance sheet date 3,558 3,246

Ms E J Henderson
is a director in the company


A loan has been given to the company from the director. No interest is charged on the amount outstanding and no repayment terms have been agreed.

30.9.24 30.9.23
£    £   
Amount due to related party at the balance sheet date 312 -

13. ULTIMATE CONTROLLING PARTY

The company was under the joint control of Mr D Henderson and Mrs M Henderson.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Henderson Decorators Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Henderson Decorators Limited for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Henderson Decorators Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Henderson Decorators Limited and state those matters that we have agreed to state to the Board of Directors of Henderson Decorators Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Henderson Decorators Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Henderson Decorators Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Henderson Decorators Limited. You consider that Henderson Decorators Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Henderson Decorators Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB


25 February 2025