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Registration number: SC403244

Borders Mortgage Hub Ltd
Unaudited Filleted Financial Statements
for the Year Ended 30 April 2025

Borders Mortgage Hub Ltd

Contents

Company Information | 1
Accountants' Report | 2
Balance Sheet | 3
Notes to the Unaudited Financial Statements | 4 to 9

Borders Mortgage Hub Ltd

Company Information

Director | R Purdie

Registered office | 37 Bank Street Galashiels TD1 1EP

Accountants | Deans Accountants And Business Advisors Ltd 27 North Bridge Street Hawick Scottish Borders TD9 9BD

DEANS
Chartered Accountants
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Borders Mortgage Hub Ltd for the Year Ended 30 April 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Borders Mortgage Hub Ltd for the year ended 30 April 2025 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland (ICAS), we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/ethics/icas-code-of-ethics.

This report is made solely to the Board of Directors of Borders Mortgage Hub Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Borders Mortgage Hub Ltd and state those matters that we have agreed to state to the Board of Directors of Borders Mortgage Hub Ltd, as a body, in this report in accordance with ICAS guidance (www.icas.com/accountsprep/guidance). To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Borders Mortgage Hub Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Borders Mortgage Hub Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Borders Mortgage Hub Ltd. You consider that Borders Mortgage Hub Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Borders Mortgage Hub Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................
Deans Accountants And Business Advisors Ltd
27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

21 October 2025

Borders Mortgage Hub Ltd

(Registration number: SC403244)
Balance Sheet as at 30 April 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 146,225 | 96,105
Current assets |  |  |
Debtors | 5 | 310,152 | 10,757
Cash at bank and in hand |  | 182,125 | 450,900
|  | 492,277 | 461,657
Creditors: Amounts falling due within one year | 6 | (43,365) | (102,187)
Net current assets |  | 448,912 | 359,470
Total assets less current liabilities |  | 595,137 | 455,575
Creditors: Amounts falling due after more than one year | 6 | (77,164) | -
Provisions for liabilities |  | (66) | (276)
Net assets |  | 517,907 | 455,299
Capital and reserves |  |  |
Called up share capital | 8 | 1 | 1
Capital redemption reserve |  | 1 | 1
Retained earnings |  | 517,905 | 455,297
Shareholders' funds |  | 517,907 | 455,299

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

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 October 2025

......................................... R Purdie Director

Borders Mortgage Hub Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1 | General information

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

The address of its registered office is:
37 Bank Street
Galashiels
TD1 1EP
United Kingdom

The principal place of business is:
37 Bank Street
Galashiels
TD1 1EP
United Kingdom

These financial statements were authorised for issue by the director on 21 October 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 presented in Pound Sterling (£) and rounded to the nearest £1.

Judgements

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made included:
Useful economic lives of tangible assets - the annual depreciation charge for tangible assets is senstive to change in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on economic utilisation, and the physical condition of the asset.

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.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

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 income 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.

Borders Mortgage Hub Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

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
Furniture, fixtures and equipment | 33.3% Straight line.
Motor vehicles | 25% Straight line.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Borders Mortgage Hub Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Recognition and measurement
Where shares are issued, any component that creates, a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expense in the profit and loss account.
Impairment
At the end of each reporting period financial instruments measured at fair value are assessed for objective evidence of impairment. The impairment loss is recognised in the profit and loss account.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2024 - 4).

Borders Mortgage Hub Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

4 | Tangible assets

| Land and buildings £ | Motor vehicles £ | Furniture, fixtures and equipment £ | Total £
Cost or valuation
At 1 May 2024 | 95,000 | - | 17,173 | 112,173
Additions | - | 53,178 | - | 53,178
At 30 April 2025 | 95,000 | 53,178 | 17,173 | 165,351
Depreciation
At 1 May 2024 | - | - | 16,068 | 16,068
Charge for the year | - | 2,216 | 842 | 3,058
At 30 April 2025 | - | 2,216 | 16,910 | 19,126
Carrying amount
At 30 April 2025 | 95,000 | 50,962 | 263 | 146,225
At 30 April 2024 | 95,000 | - | 1,105 | 96,105

Included within the net book value of land and buildings above is £95,000 (2024 - £95,000) in respect of freehold land and buildings.

5 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 9,320 | 10,757
Other debtors | 300,832 | -
| 310,152 | 10,757

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 7 | 12,127 | 58,631
Trade creditors |  | 727 | 803
Taxation and social security |  | 28,514 | 40,575
Accruals and deferred income |  | 1,880 | 1,880
Other creditors |  | 117 | 298
|  | 43,365 | 102,187

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 7 | 77,164 | -

Borders Mortgage Hub Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

7 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 51,083 | -
Finance lease liabilities | 26,081 | -
| 77,164 | -

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 5,463 | 58,631
Finance lease liabilities | 6,664 | -
| 12,127 | 58,631

Bank borrowings

The Company has a mortgage loan which is denominated in Pound Sterling (£) and the final instalment is due on 15 October 2038. The carrying amount of the loan as at the year end date is £56,546 (2024 - £58,631). Royal Bank Of Scotland PLC holds a charge over certain assets of the Company.

Other borrowings

The Company has a hire purchase loan agreement which is denominated in Pound Sterling (£) with a nominal interest rate of 4.54%. The carrying amount of the loan as at the year end date is £32,745 (2024 - £Nil). The hire purchase loan is secured against the relevant asset.

Included in the loans and borrowings are the following amounts due after more than five years:

Borrowings due after five years

£34,693 in respect of the above mortgage loan.

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 1 | 1 | 1 | 1

Borders Mortgage Hub Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

9 | Related party transactions

Transactions with the director

2025 | At 1 May 2024 £ | Advances to director £ | Repayments by director £ | At 30 April 2025 £
R Purdie
During the year the Company advanced loans to the Director. Interest was charged on the loans at 2.25% and 3.75% on the monthly outstanding balance and no repayment terms or dates have been set. | (195) | 391,756 | (90,729) | 300,832