REGISTERED NUMBER: SC249874 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 June 2024

for

HOWIESON OF NEWMAINS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C Howieson

REGISTERED OFFICE:

64 Manse Road

Newmains

Wishaw

ML2 9AX

REGISTERED NUMBER:

SC249874 (Scotland)

ACCOUNTANTS:

Profit Counts Limited

13 Glasgow Road

Paisley

Renfrewshire

PA1 3QS

FIXED ASSETS

Tangible assets

4

78,789

95,465

CURRENT ASSETS

Stocks

18,500

17,604

Debtors

58,021

20,059

Cash at bank and in hand

164,835

111,992

241,356

149,655

CREDITORS

Amounts falling due within one year

(156,961

)

(125,404

)

NET CURRENT ASSETS

84,395

24,251

TOTAL ASSETS LESS CURRENT LIABILITIES

163,184

119,716

CREDITORS

Amounts falling due after more than one year

(10,000

)

(20,000

)

PROVISIONS FOR LIABILITIES

(14,417

)

(17,464

)

NET ASSETS

138,767

82,252

CAPITAL AND RESERVES

Called up share capital

5

2

2

Retained earnings

6

138,765

82,250

SHAREHOLDERS' FUNDS

138,767

82,252

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 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 director and authorised for issue on 2 October 2025 and were signed by:

C Howieson - Director

1.	STATUTORY INFORMATION

Howieson of Newmains 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 stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings & equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Government grants

Government grants received in respect of fixed assets are capitalised in the balance sheet as a liability and amortised as income to the profit and loss over the estimated life of the assets.

Government grants received in respect of revenue items are shown as income, in the Other income section of the accounts. Receipts from the Coronavirus Job Retention Scheme are show separately within the same section.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2023

and 30 June 2024

397,908

DEPRECIATION

At 1 July 2023

302,443

Charge for year

16,676

At 30 June 2024

319,119

NET BOOK VALUE

At 30 June 2024

78,789

At 30 June 2023

95,465

Included within the net book value of the fixed assets at the balance sheet date is £nil (2023: £6,834) relating to assets subject to hire purchase contracts. Depreciation of £nil (2023: £2,278) was charged on these assets in the year. The HP agreement ended in 2023.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

2

Ordinary

£ 1

2

2

6.

RESERVES

Retained

earnings

£

At 1 July 2023

82,250

Profit for the year

156,515

Dividends

(100,000

)

At 30 June 2024

138,765

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed the director £5,145 (2023: £5,145).