REGISTERED NUMBER: SC423988 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

THE HANDMADE SHORTBREAD CO. LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J Park

T Park

REGISTERED OFFICE:

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

REGISTERED NUMBER:

SC423988 (Scotland)

ACCOUNTANTS:

Watson & Co.

Oakfield House

378 Brandon Street

Motherwell

NORTH LANARKSHIRE

ML1 1XA

FIXED ASSETS

Tangible assets

4

81,987

42,724

CURRENT ASSETS

Stocks

19,195

16,945

Debtors

196,081

195,997

Cash at bank and in hand

21,865

32,268

237,141

245,210

CREDITORS

Amounts falling due within one year

60,275

74,102

NET CURRENT ASSETS

176,866

171,108

TOTAL ASSETS LESS CURRENT LIABILITIES

258,853

213,832

CREDITORS

Amounts falling due after more than one year

33,521

11,075

NET ASSETS

225,332

202,757

CAPITAL AND RESERVES

Called up share capital

8,000

8,000

Share premium

142,475

142,475

Retained earnings

74,857

52,282

225,332

202,757

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

Mrs J Park - Director

1.	STATUTORY INFORMATION

The Handmade Shortbread Co. Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on a going concern basis. However, this is dependant on the outcome of the insurance claim in respect of a fire at the premises in July 2025.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off 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 etc

-

25% on cost, 20% on cost and 15% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 paid under operating leases are charged to profit or loss 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

240,449

Additions

68,680

Disposals

(16,600

)

At 31 December 2024

292,529

DEPRECIATION

At 1 January 2024

197,725

Charge for year

29,417

Eliminated on disposal

(16,600

)

At 31 December 2024

210,542

NET BOOK VALUE

At 31 December 2024

81,987

At 31 December 2023

42,724

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 January 2024

and 31 December 2024

66,781

DEPRECIATION

At 1 January 2024

25,813

Charge for year

11,711

At 31 December 2024

37,524

NET BOOK VALUE

At 31 December 2024

29,257

At 31 December 2023

40,968

5.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

48,436

23,430

6.	CONTINGENT LIABILITIES

The company previously received grants from South Lanarkshire Council. The balance at the end of the period is £0 (2023 - £0). Those grants may need to be repaid in the event of the company ceasing to trade or the principal place of trading ceasing to be in South Lanarkshire or grant conditions not being fully complied with.

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors' advances as at 31 December 2024 were NIL (2023 - £5,603.90).

8.	POST BALANCE SHEET EVENTS

After the year end the company repurchased shares from all shareholders who were not directors.

In July 2025 there was a fire at the premises that has caused the company to cease trading. There is an ongoing insurance claim that has not been concluded at the date of approval of the accounts.