REGISTERED NUMBER: SC592248 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Harkness Painting & Decorating Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G A Harkness

REGISTERED OFFICE:

Unit 1b Sydney Place

Lockerbie

Dumfries & Galloway

DG11 2JA

REGISTERED NUMBER:

SC592248 (Scotland)

ACCOUNTANTS:

CMCA Accounting

25A Buccleuch Street

Dumfries

Dumfries & Galloway

DG1 2AT

FIXED ASSETS

75,515

Tangible assets

4

59,629

CURRENT ASSETS

4,000

Stocks

3,700

126,291

Debtors

5

100,078

45,184

Cash at bank

43,816

175,475

147,594

CREDITORS

98,001

Amounts falling due within one year

6

73,595

77,474

NET CURRENT ASSETS

73,999

152,989

TOTAL ASSETS LESS CURRENT LIABILITIES

133,628

CREDITORS

(37,572

)

Amounts falling due after more than one year

7

(22,304

)

(17,134

)

PROVISIONS FOR LIABILITIES

(11,330

)

98,283

NET ASSETS

99,994

CAPITAL AND RESERVES

10

Called up share capital

10

98,273

Retained earnings

99,984

98,283

99,994

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 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 9 September 2025 and were signed by:

G A Harkness - Director

1.	STATUTORY INFORMATION

Harkness Painting & Decorating 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 15% on 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

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 12 (2024 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

144,839

Additions

332

At 31 March 2025

145,171

DEPRECIATION

At 1 April 2024

69,324

Charge for year

16,218

At 31 March 2025

85,542

NET BOOK VALUE

At 31 March 2025

59,629

At 31 March 2024

75,515

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

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

76,053

DEPRECIATION

At 1 April 2024

31,703

Charge for year

11,085

At 31 March 2025

42,788

NET BOOK VALUE

At 31 March 2025

33,265

At 31 March 2024

44,350

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

100,078

126,291

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

-

1,445

Hire purchase contracts

15,270

15,270

Trade creditors

12,888

16,538

Taxation and social security

33,034

47,850

Other creditors

12,403

16,898

73,595

98,001

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

22,304

37,572

8.	RELATED PARTY DISCLOSURES

At 31 March 2025 an amount of £5,807 (2024 - £388 ) was due to Mr Harkness by means of a directors loan account. This amount is interest free and repayable on demand.

Dividends of £14,400 were paid to directors.