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HAAS TEK HOLDINGS LIMITED

Registered Number
SC535811
(Scotland)

Unaudited Financial Statements for the Year ended
31 December 2024

HAAS TEK HOLDINGS LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

BELL, Gary Johnstone
BELL, Melanie Louise

Company Secretary

BELL, Melanie Louise

Registered Address

Haas Side Farm
Haas Loaning
Lockerbie
DG11 2RQ

Registered Number

SC535811 (Scotland)
HAAS TEK HOLDINGS LIMITED
Statement of Financial Position
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,337,0151,315,796
Investments42,399,9942,399,994
3,737,0093,715,790
Current assets
Debtors514,31313,602
Cash at bank and on hand323,422295,203
337,735308,805
Creditors amounts falling due within one year6(1,241,796)(1,244,647)
Net current assets (liabilities)(904,061)(935,842)
Total assets less current liabilities2,832,9482,779,948
Provisions for liabilities7(9,200)(3,900)
Net assets2,823,7482,776,048
Capital and reserves
Called up share capital2,1002,100
Share premium2,398,1942,398,194
Profit and loss account423,454375,754
Shareholders' funds2,823,7482,776,048
The financial statements were approved and authorised for issue by the Board of Directors on 7 July 2025, and are signed on its behalf by:
BELL, Gary Johnstone
Director
Registered Company No. SC535811
HAAS TEK HOLDINGS LIMITED
Notes to the Financial Statements
for the year ended 31 December 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.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
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/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Rental income is recognised in the period to which it relates.
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows: Freehold property - Not depreciated

Reducing balance (%)
Fixtures and fittings10
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 Income Statement.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Fixtures & fittings

Total

£££
Cost or valuation
At 01 January 241,300,00024,0761,324,076
Additions-25,33225,332
At 31 December 241,300,00049,4081,349,408
Depreciation and impairment
At 01 January 24-8,2808,280
Charge for year-4,1134,113
At 31 December 24-12,39312,393
Net book value
At 31 December 241,300,00037,0151,337,015
At 31 December 231,300,00015,7961,315,796
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 January 242,399,9942,399,994
At 31 December 242,399,9942,399,994
Net book value
At 31 December 242,399,9942,399,994
At 31 December 232,399,9942,399,994

Notes

1Investments in group undertakings and participating interests
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables11,81811,375
Other debtors410-
Prepayments and accrued income2,0852,227
Total14,31313,602
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2121
Amounts owed to related parties1,211,9671,211,967
Taxation and social security15,63718,616
Other creditors11,29511,300
Accrued liabilities and deferred income2,8762,743
Total1,241,7961,244,647
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)9,2003,900
Total9,2003,900
8.Contingent liabilities
There is in place a guarantee in favour of the Bank of Scotland PLC secured over the assets of PPML Assets Limited and Haas Tek Holdings Limited in respect of the bank borrowings of PPML Assets Limited. At the balance sheet date the bank borrowings in PPML Assets Limited amounted to £798,336 (2023 - £882,112).
9.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
BELL, Gary Johnstone0156,337155,927410
0156,337155,927410
During the period the company made advances to the above. The balance is included in other debtors. The loan is unsecured and repayable on demand. Interest has been charged on the loan at the HMRC official interest rate where applicable.