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REGISTERED NUMBER: SC199488 (Scotland)










Report of the Directors and

Financial Statements

For The Year Ended 31 December 2024

for

Ashwood Scotland Limited

Ashwood Scotland Limited (Registered number: SC199488)

Contents of the Financial Statements
For The Year Ended 31 December 2024










Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Income Statement 8

Other Comprehensive Income 9

Statement of Financial Position 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


Ashwood Scotland Limited

Company Information
For The Year Ended 31 December 2024







DIRECTORS: David Scott Charman
Graeme Hadden





REGISTERED OFFICE: Unit 3
Tailend Court
Livingston
West Lothian
EH54 8TE





REGISTERED NUMBER: SC199488 (Scotland)





AUDITORS: Cahill Jack Associates Limited
Chartered Accountants and Statutory Auditors
91 Alexander Street
Airdrie
North Lanarkshire
ML6 0BD

Ashwood Scotland Limited (Registered number: SC199488)

Report of the Directors
For The Year Ended 31 December 2024


The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of public, commercial and industrial construction work.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

David Scott Charman
Graeme Hadden

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Cahill Jack Associates Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.


Ashwood Scotland Limited (Registered number: SC199488)

Report of the Directors
For The Year Ended 31 December 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:



David Scott Charman - Director


28 August 2025

Report of the Independent Auditors to the Members of
Ashwood Scotland Limited


Opinion
We have audited the financial statements of Ashwood Scotland Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Ashwood Scotland Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Ashwood Scotland Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the construction sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, anti-bribery, employment, environmental, and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;
- inspecting legal documentation for indications of non-compliance with laws and regulations; and
- enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Ashwood Scotland Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Antony Fraser (Senior Statutory Auditor)
for and on behalf of Cahill Jack Associates Limited
Chartered Accountants and Statutory Auditors
91 Alexander Street
Airdrie
North Lanarkshire
ML6 0BD

28 August 2025

Ashwood Scotland Limited (Registered number: SC199488)

Income Statement
For The Year Ended 31 December 2024

2024 2023
Notes £    £   

TURNOVER 9,741,526 10,384,511

Cost of sales 8,696,136 9,399,101
GROSS PROFIT 1,045,390 985,410

Administrative expenses 825,788 758,766
219,602 226,644

Other operating income 51,485 48,088
OPERATING PROFIT 4 271,087 274,732

Interest receivable and similar income 3,592 310
274,679 275,042
Amounts written off loans and
investments 5 39,001 -
235,678 275,042

Interest payable and similar expenses 2,840 1,636
PROFIT BEFORE TAXATION 232,838 273,406

Tax on profit 70,461 78,001
PROFIT FOR THE FINANCIAL YEAR 162,377 195,405

Ashwood Scotland Limited (Registered number: SC199488)

Other Comprehensive Income
For The Year Ended 31 December 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 162,377 195,405


OTHER COMPREHENSIVE INCOME

Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

-

-
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

162,377

195,405

Ashwood Scotland Limited (Registered number: SC199488)

Statement of Financial Position
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 42,645 67,472
Investments 7 1 3
Investment property 8 529,972 370,000
572,618 437,475

CURRENT ASSETS
Stocks 9 730,000 -
Debtors 10 833,744 1,803,647
Cash at bank and in hand 1,232,898 1,061,229
2,796,642 2,864,876
CREDITORS
Amounts falling due within one year 11 2,891,955 2,913,972
NET CURRENT LIABILITIES (95,313 ) (49,096 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

477,305

388,379

CREDITORS
Amounts falling due after more than one
year

12

(12,862

)

(30,544

)

PROVISIONS FOR LIABILITIES (9,610 ) (15,750 )
NET ASSETS 454,833 342,085

CAPITAL AND RESERVES
Called up share capital 41 41
Share premium 31,602 21,231
Capital redemption reserve 160 160
Retained earnings 423,030 320,653
SHAREHOLDERS' FUNDS 454,833 342,085

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by:





David Scott Charman - Director


Ashwood Scotland Limited (Registered number: SC199488)

Statement of Changes in Equity
For The Year Ended 31 December 2024

Called up Capital
share Retained Share redemption Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 January 2023 40 185,248 10,861 160 196,309

Changes in equity
Profit for the year - 195,405 - - 195,405
Total comprehensive income - 195,405 - - 195,405
Issue of share capital 1 - 10,370 - 10,371
Dividends - (60,000 ) - - (60,000 )
Balance at 31 December 2023 41 320,653 21,231 160 342,085

Changes in equity
Profit for the year - 162,377 - - 162,377
Total comprehensive income - 162,377 - - 162,377
Issue of share capital - - 10,371 - 10,371
Dividends - (60,000 ) - - (60,000 )
Balance at 31 December 2024 41 423,030 31,602 160 454,833

Ashwood Scotland Limited (Registered number: SC199488)

Notes to the Financial Statements
For The Year Ended 31 December 2024


1. STATUTORY INFORMATION

Ashwood Scotland 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Going concern
The directors are required to prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. Having examined forecasts and projections for a period of at least twelve months from the date of approval of these financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Ashwood Scotland Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made are described below:

Estimated useful lives and residual values of fixed assets
As described under the Tangible Fixed Asset heading of this accounting policies note, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as applicable. The reviews take into account estimated useful lives used by other companies operating within the same sector and actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

Revaluation of investment property
Investment property is included at fair value which is determined by the directors. Various assumptions and estimates are used in making the assessment of fair value.

Accounting for revenue from long term contracts
The directors base their judgements of contract profits on the latest available information, which includes detailed contract valuations prepared by quantity surveyors. Cost incurred on contracts are valued on a regular basis and the value attributed to the costs is included as revenue.

Ashwood Scotland Limited (Registered number: SC199488)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024


2. ACCOUNTING POLICIES - continued

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax and any other sales taxes The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the revenue value of the costs incurred on the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract; and
- the value of the costs incurred at the end of the reporting period can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of 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 - 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 33% on cost
Computer equipment - 25% on reducing balance

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Financial instruments
The following assets and liabilities are classified as basic financial instruments - trade debtors, trade creditors and loans to subsidiaries.

Loans to subsidiaries, being repayable on demand, trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.


Ashwood Scotland Limited (Registered number: SC199488)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 payable under operating leases are charged to the profit and loss account 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.

Long-term contracts and work in progress
The directors base their judgements of contract costs and revenues on the latest available information, which includes detailed contract valuations. In many cases the results reflect the expected outcome of long-term contractual obligations which span more than one reporting period. Contract costs and revenues are affected by a variety of uncertainties that depend on the outcome of future events and often need to be revised as events unfold and uncertainties are resolved. The estimates are updated regularly and significant changes are highlighted through established internal review procedures which ensure that there is no significant over or under statement of profits earned in any period.

Long-term work in progress is therefore calculated based on the excess of expected revenue less costs from each contract less appropriate payments received to date and is included within debtors under the heading amounts recoverable on contracts or, within creditors under the heading payments on account.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

Ashwood Scotland Limited (Registered number: SC199488)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 52 (2023 - 53 ) .

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 6,042 8,171
Depreciation - assets on hire purchase contracts 18,785 21,125
Profit on disposal of fixed assets (2,500 ) (8,754 )
Auditors' remuneration 13,000 12,000
Auditors' remuneration for non audit work 7,200 7,200
Pension costs 124,043 130,421

5. AMOUNTS WRITTEN OFF LOANS AND
INVESTMENTS
2024 2023
£    £   
Investments 2 -
Intercompany loan 38,999 -
39,001 -

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 50,425 5,105 156,788 47,579 259,897
Disposals - - (25,564 ) - (25,564 )
At 31 December 2024 50,425 5,105 131,224 47,579 234,333
DEPRECIATION
At 1 January 2024 31,516 4,654 110,872 45,383 192,425
Charge for year 5,042 451 18,785 549 24,827
Eliminated on disposal - - (25,564 ) - (25,564 )
At 31 December 2024 36,558 5,105 104,093 45,932 191,688
NET BOOK VALUE
At 31 December 2024 13,867 - 27,131 1,647 42,645
At 31 December 2023 18,909 451 45,916 2,196 67,472

Ashwood Scotland Limited (Registered number: SC199488)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024


6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2024
and 31 December 2024 56,355
DEPRECIATION
At 1 January 2024 10,439
Charge for year 18,785
At 31 December 2024 29,224
NET BOOK VALUE
At 31 December 2024 27,131
At 31 December 2023 45,916

7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2024 3
Disposals (2 )
At 31 December 2024 1
NET BOOK VALUE
At 31 December 2024 1
At 31 December 2023 3

8. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 370,000
Additions 159,972
At 31 December 2024 529,972
NET BOOK VALUE
At 31 December 2024 529,972
At 31 December 2023 370,000

Ashwood Scotland Limited (Registered number: SC199488)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024


8. INVESTMENT PROPERTY - continued

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2005 20,262
Valuation in 2020 18,300
Valuation in 2022 25,000
Cost 466,410
529,972

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 466,410 306,438

Investment properties were valued on a fair value basis on 31 December 2024 by the directors .

9. STOCKS
2024 2023
£    £   
Work-in-progress 730,000 -

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 112,620 16,939
Amounts owed by group undertakings - 834,321
Amounts recoverable on contract 702,829 934,395
Other debtors 9,252 8,994
Prepayments 9,043 8,998
833,744 1,803,647

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 13) 17,682 16,697
Payments on account 240,428 276,020
Trade creditors 1,953,296 1,680,841
Tax 76,590 71,429
Social security and other taxes 85,784 84,153
VAT 381,618 468,919
Other creditors 90,858 88,600
Directors' loan accounts - 163,300
Accrued expenses 45,699 64,013
2,891,955 2,913,972

Ashwood Scotland Limited (Registered number: SC199488)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024


12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 13) 12,862 30,544

13. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase
contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 17,682 16,697
Between one and five years 12,862 30,544
30,544 47,241

Non-cancellable
operating leases
2024 2023
£    £   
Within one year 70,278 69,482
Between one and five years 121,900 151,552
In more than five years - 18,750
192,178 239,784

14. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 30,544 47,241

Hire purchase and finance lease creditors hold security over the assets which are the subject of the relevant agreements.

Ashwood Scotland Limited (Registered number: SC199488)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024


15. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to/(from) a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
David Scott Charman
Balance outstanding at start of year (163,300 ) (600,000 )
Amounts advanced 163,300 436,700
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (163,300 )

The loan from D. Charman was non-interest bearing and repayable on demand.

16. ULTIMATE CONTROLLING PARTY

The controlling party is David Scott Charman.

The ultimate controlling party is David Scott Charman.