Company Registration number: SC218511

Hiddleston Joiners Limited

Contents

Pages

Balance sheet	1 to 2
Notes to the financial statements	3 to 8

Hiddleston Joiners Limited

Balance Sheet as at 30 June 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	4,169	7,296
Tangible assets	5	131,971	129,182
		136,140	136,478
Current assets
Stocks	6	149,813	176,582
Debtors	7	149,694	122,501
Cash at bank and in hand		145,814	152,373
		445,321	451,456
Creditors: Amounts falling due within one year	8	(386,742)	(414,965)
Net current assets		58,579	36,491
Total assets less current liabilities		194,719	172,969
Creditors: Amounts falling due after more than one year	8	(22,233)	(46,444)
Provisions for liabilities		(32,994)	(32,295)
Net assets		139,492	94,230
Capital and reserves
Called up share capital		1,100	1,100
Share premium reserve		7,900	7,900
Retained earnings		130,492	85,230
Shareholders' funds		139,492	94,230

Hiddleston Joiners Limited

Balance Sheet as at 30 June 2025 (continued)

For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: SC218511

Approved and authorised by the Board on 4 September 2025 and signed on its behalf by:
 

......................................... Mr T Hiddleston Company secretary and director

Hiddleston Joiners Limited

Notes to the financial statements for the Year Ended 30 June 2025

1	GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
The Old School
Terregles
Dumfries
DG2 9RY

These financial statements were authorised for issue by the Board on 4 September 2025.

2	ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Hiddleston Joiners Limited

Notes to the financial statements for the Year Ended 30 June 2025 (continued)

2	ACCOUNTING POLICIES (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
 

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
 

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% reducing balance
Motor Vehicles	25% reducing balance
Office equipment	25% reducing balance
Furniture and fittings	25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Hiddleston Joiners Limited

Notes to the financial statements for the Year Ended 30 June 2025 (continued)

2	ACCOUNTING POLICIES (continued)

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	5% straight line
Software costs	3 years straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Hiddleston Joiners Limited

Notes to the financial statements for the Year Ended 30 June 2025 (continued)

2	ACCOUNTING POLICIES (continued)

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3	STAFF NUMBERS

The average number of persons employed by the company (including directors) during the year, was 22 (2024 - 22).

Hiddleston Joiners Limited

Notes to the financial statements for the Year Ended 30 June 2025 (continued)

4	INTANGIBLE ASSETS

	Goodwill  £	Software costs  £	Total £
Cost or valuation
At 1 July 2024	30,000	9,380	39,380
At 30 June 2025	30,000	9,380	39,380
Amortisation
At 1 July 2024	30,000	2,084	32,084
Amortisation charge	-	3,127	3,127
At 30 June 2025	30,000	5,211	35,211
Carrying amount
At 30 June 2025	-	4,169	4,169
At 30 June 2024	-	7,296	7,296

5	TANGIBLE ASSETS

	Furniture, fittings and equipment  £	Motor vehicles  £	Plant and machinery £	Total £
Cost or valuation
At 1 July 2024	143,584	172,301	169,139	485,024
Additions	3,627	21,495	17,848	42,970
Disposals	-	(16,327)	-	(16,327)
At 30 June 2025	147,211	177,469	186,987	511,667
Depreciation
At 1 July 2024	129,821	95,405	130,616	355,842
Charge for the year	3,958	22,733	9,615	36,306
Eliminated on disposal	-	(12,452)	-	(12,452)
At 30 June 2025	133,779	105,686	140,231	379,696
Carrying amount
At 30 June 2025	13,432	71,783	46,756	131,971
At 30 June 2024	13,763	76,896	38,523	129,182

Hiddleston Joiners Limited

Notes to the financial statements for the Year Ended 30 June 2025 (continued)

6

STOCKS

	2025 £	2024 £
Work in progress	149,813	176,582

7

DEBTORS

Current	2025 £	2024 £
Trade debtors	125,988	112,203
Prepayments	23,706	10,297
Other debtors	-	1
	149,694	122,501

8

CREDITORS

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Loans and borrowings	24,211	25,461
Trade creditors	76,206	60,369
Taxation and social security	68,008	81,403
Accruals and deferred income	38,207	67,063
Other creditors	180,110	180,669
	386,742	414,965

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £24,211 (2024 - £25,461).

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Due after one year
Loans and borrowings	22,233	46,444

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £22,233 (2024 - £46,444).