REGISTERED NUMBER: SC412993 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

HAYWAY JOINERY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Hay

SECRETARY:

REGISTERED OFFICE:

Craigview

Auchincruive

AYR

KA6 5HU

REGISTERED NUMBER:

SC412993 (Scotland)

ACCOUNTANTS:

Stewart Gilmour & Co.

Chartered Accountants

24 Beresford Terrace

Ayr

KA7 2EG

FIXED ASSETS

Tangible assets

4

43,777

41,131

CURRENT ASSETS

Stocks

5

21,595

25,000

Debtors

6

60,556

63,806

Cash at bank

27,153

17,086

109,304

105,892

CREDITORS

Amounts falling due within one year

7

45,691

41,906

NET CURRENT ASSETS

63,613

63,986

TOTAL ASSETS LESS CURRENT LIABILITIES

107,390

105,117

PROVISIONS FOR LIABILITIES

8

10,944

10,283

NET ASSETS

96,446

94,834

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

96,346

94,734

SHAREHOLDERS' FUNDS

96,446

94,834

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 director acknowledges his 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.

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

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

J Hay - Director

1.	STATUTORY INFORMATION

Hayway Joinery 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.

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.

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.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

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 NIL (2023 - 5 ).

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

57,120

58,892

3,213

119,225

Additions

5,047

12,500

-

17,547

Disposals

-

(10,400

)

-

(10,400

)

At 31 December 2024

62,167

60,992

3,213

126,372

DEPRECIATION

At 1 January 2024

29,766

46,776

1,552

78,094

Charge for year

6,480

5,538

415

12,433

Eliminated on disposal

-

(7,932

)

-

(7,932

)

At 31 December 2024

36,246

44,382

1,967

82,595

NET BOOK VALUE

At 31 December 2024

25,921

16,610

1,246

43,777

At 31 December 2023

27,354

12,116

1,661

41,131

5.

STOCKS

2024

2023

£

£

Work-in-progress

21,595

25,000

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

555

3,805

Amounts falling due after more than one year:

Other debtors

60,001

60,001

Aggregate amounts

60,556

63,806

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

13,018

14,900

Tax

9,961

13,915

Social security and other taxes

4,344

1,128

VAT

15,315

8,807

Directors' current accounts

3

256

Accrued expenses

3,050

2,900

45,691

41,906

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

10,944

10,283

Deferred

tax

£

Balance at 1 January 2024

10,283

Provided during year

661

Balance at 31 December 2024

10,944

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

1

100

100

10.

RESERVES

Retained

earnings

£

At 1 January 2024

94,734

Profit for the year

43,762

Dividends

(42,150

)

At 31 December 2024

96,346