HAYES OF SYMINGTON LIMITED


Directors	HAYES, Donna Joan
	HAYES, Iona Victoria
	HAYES, Michael Richard


Registered Address	Hayes Garden Land
	Tarbolten Road, Symington
	Kilmarnock
	KA1 5PD


Registered Number	SC301883 (Scotland)

Statement of Financial Position
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	4		1,619,292		1,571,479
			1,619,292		1,571,479
Current assets
Stocks	5	159,955		166,934
Debtors		4,862		6,792
Cash at bank and on hand		1,513,396		1,301,922
		1,678,213		1,475,648
Creditors amounts falling due within one year	6	(541,586)		(472,961)
Net current assets (liabilities)			1,136,627		1,002,687
Total assets less current liabilities			2,755,919		2,574,166
Provisions for liabilities	7		(56,800)		(43,674)
Net assets			2,699,119		2,530,492
Capital and reserves
Called up share capital			1,160		1,160
Profit and loss account			2,697,959		2,529,332
Shareholders' funds			2,699,119		2,530,492

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 5 June 2025, and are signed on its behalf by:

HAYES, Donna Joan
Director

HAYES, Iona Victoria
Director

HAYES, Michael Richard
Director

Registered Company No. SC301883

HAYES OF SYMINGTON 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.

	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.

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.

	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.

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:

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:

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 

At each date of Statement of Financial Position, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.  The impairment loss is recognised immediately in the Income Statement.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

	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


		2024		2023
	Average number of employees during the year	41		37

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 January 24	110,000	110,000
At 31 December 24	110,000	110,000
Amortisation and impairment
At 01 January 24	110,000	110,000
At 31 December 24	110,000	110,000
Net book value
At 31 December 24	-	-
At 31 December 23	-	-

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Total
	£	£	£	£
Cost or valuation
At 01 January 24	1,370,332	417,376	86,806	1,874,514
Additions	-	39,297	49,941	89,238
Disposals	-	(3,050)	-	(3,050)
At 31 December 24	1,370,332	453,623	136,747	1,960,702
Depreciation and impairment
At 01 January 24	-	238,957	64,078	303,035
Charge for year	-	28,834	9,541	38,375
At 31 December 24	-	267,791	73,619	341,410
Net book value
At 31 December 24	1,370,332	185,832	63,128	1,619,292
At 31 December 23	1,370,332	178,419	22,728	1,571,479

5.	Stocks

	2024	2023
	£	£
Finished goods	159,955	166,934
Total	159,955	166,934

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	81,321	79,673
Bank borrowings and overdrafts	14,560	16,093
Taxation and social security	163,842	94,894
Redeemable preference shares, liability	276,000	276,000
Accrued liabilities and deferred income	5,863	6,301
Total	541,586	472,961

7.	Provisions for liabilities

	2024	2023
	£	£
Net deferred tax liability (asset)	56,800	43,674
Total	56,800	43,674