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Company registration number:
SC653498
Heritage Homes (Scotland) Limited
Unaudited filleted financial statements
31 March 2024
Dickson Middleton
Chartered Accountants
www.dicksonmiddleton.co.uk
A member firm of the UK 200 Group
Heritage Homes (Scotland) Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Heritage Homes (Scotland) Limited
Directors and other information
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Directors |
Mr Johnathan King |
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Mr Michael O'Neill |
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Company number |
SC653498 |
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Registered office |
Unit 7 |
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Birchwood Business Park |
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Doune |
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FK16 6ER |
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Business address |
Unit 7 |
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Birchwood Business Park |
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Doune |
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FK16 6ER |
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Accountants |
Dickson Middleton |
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20 Barnton Street |
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Stirling |
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FK8 1NA |
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Bankers |
Bank of Scotland |
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The Mound |
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Edinburgh |
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EH1 1YZ |
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Solicitors |
Macnabs |
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10 Barossa Place |
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Perth |
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PH1 5JX |
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Heritage Homes (Scotland) Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Heritage Homes (Scotland) Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Heritage Homes (Scotland) Limited for the year ended 31 March 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at .
This report is made solely to the board of directors of Heritage Homes (Scotland) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Heritage Homes (Scotland) Limited and state those matters that we have agreed to state to the board of directors of Heritage Homes (Scotland) Limited as a body, in this report in accordance with the requirements of ICAS as detailed at To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Heritage Homes (Scotland) Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Heritage Homes (Scotland) 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 loss of Heritage Homes (Scotland) Limited. You consider that Heritage Homes (Scotland) 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 Heritage Homes (Scotland) 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.
Dickson Middleton
Chartered Accountants
20 Barnton Street
Stirling
FK8 1NA
14 February 2025
Heritage Homes (Scotland) Limited
Statement of financial position
31 March 2024
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Current assets |
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Stocks |
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2,592,426 |
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6,911,620 |
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Debtors |
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5 |
13,118 |
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15,932 |
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Cash at bank and in hand |
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900,894 |
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939,647 |
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_______ |
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_______ |
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3,506,438 |
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7,867,199 |
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Creditors: amounts falling due |
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within one year |
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6 |
(
176,935) |
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(
2,279,120) |
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_______ |
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_______ |
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Net current assets |
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3,329,503 |
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5,588,079 |
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_______ |
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_______ |
Total assets less current liabilities |
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3,329,503 |
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5,588,079 |
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Creditors: amounts falling due |
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after more than one year |
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7 |
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(
3,327,548) |
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(
5,548,237) |
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_______ |
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_______ |
Net assets |
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1,955 |
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39,842 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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8 |
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100 |
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100 |
Profit and loss account |
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1,855 |
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39,742 |
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_______ |
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_______ |
Shareholders funds |
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1,955 |
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39,842 |
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_______ |
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_______ |
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
14 February 2025
, and are signed on behalf of the board by:
Mr Johnathan King
Director
Company registration number:
SC653498
Heritage Homes (Scotland) Limited
Notes to the financial statements
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Unit 7, Birchwood Business Park, Doune, FK16 6ER.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historic cost basis. The financial statements are prepared in sterling, which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
5.
Debtors
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2024 |
2023 |
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£ |
£ |
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Trade debtors |
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2,760 |
7,760 |
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Other debtors |
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10,358 |
8,172 |
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_______ |
_______ |
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13,118 |
15,932 |
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_______ |
_______ |
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6.
Creditors: amounts falling due within one year
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2024 |
2023 |
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£ |
£ |
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Trade creditors |
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- |
14,960 |
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Social security and other taxes |
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9,322 |
9,322 |
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Other creditors |
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167,613 |
2,254,838 |
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_______ |
_______ |
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176,935 |
2,279,120 |
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_______ |
_______ |
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7.
Creditors: amounts falling due after more than one year
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2024 |
2023 |
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£ |
£ |
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Other creditors |
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3,327,548 |
5,548,237 |
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_______ |
_______ |
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8.
Called up share capital
Issued, called up and fully paid
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2024 |
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2023 |
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No |
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£ |
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No |
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£ |
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Ordinary shares of £
1.00 each |
|
100 |
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100 |
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100 |
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100 |
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_______ |
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_______ |
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_______ |
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_______ |
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9.
Controlling party
J King and Crossco (1437) Limited hold 100% of the share capital and as such are deemed to be the controlling parties.