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HADPLAID LIMITED

Registered Number
SC363349
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

HADPLAID LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

ATWAL, Harjinder Singh
ATWAL, Narinder Singh

Company Secretary

ATWAL, Narinder Singh

Registered Address

108/1 George Street
Edinburgh
EH2 4LH

Registered Number

SC363349 (Scotland)
HADPLAID LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3537,358768,679
Tangible assets467,14174,171
Investments6171,459158,081
Investment property5923,441923,441
1,699,3991,924,372
Current assets
Debtors72,816,3382,646,028
Cash at bank and on hand40,080120,044
2,856,4182,766,072
Creditors amounts falling due within one year8(1,747,717)(1,551,529)
Net current assets (liabilities)1,108,7011,214,543
Total assets less current liabilities2,808,1003,138,915
Creditors amounts falling due after one year9(95,059)(157,550)
Provisions for liabilities10-(189,053)
Net assets2,713,0412,792,312
Capital and reserves
Called up share capital3,5003,500
Profit and loss account2,709,5412,788,812
Shareholders' funds2,713,0412,792,312
The financial statements were approved and authorised for issue by the Board of Directors on 21 March 2025, and are signed on its behalf by:
ATWAL, Harjinder Singh
Director
Registered Company No. SC363349
HADPLAID LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Goodwill, being the amount paid in connection with the acquisition of a business and, is being amortised evenly over its estimated useful life of 10 years.
Tangible fixed assets and depreciation
Tangible fixed assets are initially stated at cost and subsequently at cost less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Land and buildings10
Fixtures and fittings25
Office Equipment25
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Financial instruments
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortized cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year201202
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 232,313,2102,313,210
At 31 March 242,313,2102,313,210
Amortisation and impairment
At 01 April 231,544,5311,544,531
Charge for year231,321231,321
At 31 March 241,775,8521,775,852
Net book value
At 31 March 24537,358537,358
At 31 March 23768,679768,679
4.Tangible fixed assets

Land & buildings

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 April 23144,60264,40364,490273,495
Additions-2,1411,7613,902
At 31 March 24144,60266,54466,251277,397
Depreciation and impairment
At 01 April 2388,57858,10952,637199,324
Charge for year5,6022,0003,33010,932
At 31 March 2494,18060,10955,967210,256
Net book value
At 31 March 2450,4226,43510,28467,141
At 31 March 2356,0246,29411,85374,171
Land and buildings incudes the leasehold improvements.
5.Investment property
In the opinion of the director, the market value of the other property is not materially different to the carrying value in the accounts as the balance sheet date.

£
Fair value at 01 April 23923,441
At 31 March 24923,441
6.Fixed asset investments

Investments in groups1

Other investments2

Total

£££
Cost or valuation
At 01 April 231158,080158,081
Additions-13,37813,378
At 31 March 241171,458171,459
Net book value
At 31 March 241171,458171,459
At 31 March 231158,080158,081

Notes

1Investments in group undertakings and participating interests
2Other investments other than loans
7.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,711,5281,589,689
Other debtors1,091,5781,006,426
Prepayments and accrued income13,23249,913
Total2,816,3382,646,028
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables145,13296,250
Bank borrowings and overdrafts73,65984,827
Taxation and social security229,557330,812
Other creditors1,280,0141,024,556
Accrued liabilities and deferred income19,35515,084
Total1,747,7171,551,529
9.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts95,059157,550
Total95,059157,550
Included within other creditors falling due within one year and creditors falling due after more than one year are bank loans amounting to £168,718 (2023: £242,377) Bank loans are secured against floating charge covers all the property or undertaking of the company.
10.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)-189,053
Total-189,053
11.Other commitments
LEASING AGREEMENTS: Minimum lease payments under non-cancellable operating leases fall due as follows: Due within one year: £35,000(2023: £35,000)
12.Related party transactions
Included in debtors falling due within one year are due from companies connected to the director. HA Aberdeen Ltd £94,472 (2023: £46,315); HA Fife Ltd 107,024 (2023: £62,166); H & N Developments LLP £102,364 (2023: £30,462); HWS Edinburgh Ltd £60,546(2023: £52,749); INV Edinburgh Ltd £Nil (2023: £2,706); JA Fife Ltd £103,243 (£104,397); Jedco Ltd £144,155 (£294,993); NA Aberdeen Ltd £436,744 (2023: £378,827); NA Edinburgh Ltd £791,325 (£839,673); Nalmond Ltd £224,392 (2023: £234,076) PB Edinburgh Ltd £371,938 (2023: £289,955); Project Beam Ltd £2,301 (2023: £2,301) Wildflower Ltd £18,413 (2023: £18,413); ST Edinburgh Ltd: £6,100 (2023: £3,321) Included in trade and other creditors falling due within one year is due to companies connected to the director. MCA Edinburgh Ltd £13,364 (2023: £67,621); H&N Holdings Ltd £525,601 (2023: £544,719) Included in other creditors due within 12 months are the amount due to the director £394,051 (2023: £202,209)