REGISTERED NUMBER: SC247979 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Plowmans Carpets Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Plowman

Mrs K Plowman

SECRETARY:

Mrs K Plowman

REGISTERED OFFICE:

2 Girnigoe Street

Wick

Caithness

KW1 4HH

REGISTERED NUMBER:

SC247979 (Scotland)

ACCOUNTANTS:

Reid & Fraser

Chartered Accountants

92 High Street

Wick

Caithness

KW1 4LY

BANKERS:

Bank of Scotland

18 Bridge Street

Wick

Caithness

KW1 4NG

FIXED ASSETS

Tangible assets

4

86,284

85,750

CURRENT ASSETS

Stocks

23,751

16,303

Debtors

5

117,913

57,522

Cash at bank and in hand

179,673

191,049

321,337

264,874

CREDITORS

Amounts falling due within one year

6

(95,325

)

(74,391

)

NET CURRENT ASSETS

226,012

190,483

TOTAL ASSETS LESS CURRENT LIABILITIES

312,296

276,233

PROVISIONS FOR LIABILITIES

(10,537

)

(9,479

)

NET ASSETS

301,759

266,754

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

301,659

266,654

SHAREHOLDERS' FUNDS

301,759

266,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 6 October 2025 and were signed on its behalf by:

Mrs K Plowman - Director

1.	STATUTORY INFORMATION

Plowmans Carpets 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

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.

Freehold property

-

2% straight line

Plant and machinery

-

15% reducing balance

Fixtures and fittings

-

15% reducing balance

Motor vehicles

-

25% reducing balance

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

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 7 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2024

36,235

17,783

725

71,194

125,937

Additions

-

2,449

-

15,990

18,439

Disposals

-

(1,136

)

-

(525

)

(1,661

)

At 31 March 2025

36,235

19,096

725

86,659

142,715

DEPRECIATION

At 1 April 2024

4,780

7,891

680

26,836

40,187

Charge for year

629

1,806

7

15,064

17,506

Eliminated on disposal

-

(830

)

-

(432

)

(1,262

)

At 31 March 2025

5,409

8,867

687

41,468

56,431

NET BOOK VALUE

At 31 March 2025

30,826

10,229

38

45,191

86,284

At 31 March 2024

31,455

9,892

45

44,358

85,750

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

117,913

57,522

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

21,732

26,610

Taxation and social security

62,205

36,466

Other creditors

11,388

11,315

95,325

74,391

7.	ULTIMATE CONTROLLING PARTY