BORTHWICK DECORATORS LIMITED


Directors	E Borthwick
	D W Borthwick JNR


Registered Address	Kelly Accounting Ltd
	42 Comrie Street
	Crieff
	PH7 4AX


Registered Number	SC498500 (Scotland)

Balance Sheet as at
28 February 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		173,456		117,614
			173,456		117,614
Current assets
Stocks	4	41,025		54,097
Debtors	5	425,407		549,378
Cash at bank and on hand		98,030		132,208
		564,462		735,683
Creditors amounts falling due within one year	6	(218,244)		(288,008)
Net current assets (liabilities)			346,218		447,675
Total assets less current liabilities			519,674		565,289
Creditors amounts falling due after one year	7		(73,427)		(37,485)
Provisions for liabilities	9		(40,965)		(26,645)
Net assets			405,282		501,159
Capital and reserves
Called up share capital			10		10
Profit and loss account			405,272		501,149
Shareholders' funds			405,282		501,159

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 28 October 2025, and are signed on its behalf by:

D W Borthwick JNR
Director
Registered Company No. SC498500

BORTHWICK DECORATORS LIMITED

Notes to the Financial Statements
for the year ended 28 February 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	These financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the provisions of Section 1A 'Small Entities' (FRS102 section 1A) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	25
	Vehicles	25
	Office Equipment	25

	Finance leases and hire purchase contracts
	Assets held under finance leases (which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company) and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. Payments under operating lease contracts are expensed through the profit and loss account in the period in which payments are made.

Finance leases and hire purchase contracts

Assets held under finance leases (which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company) and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Payments under operating lease contracts are expensed through the profit and loss account in the period in which payments are made.

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2025		2024
	Average number of employees during the year	13		13

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 March 24	14,373	12,795	264,657	22,364	314,189
Additions	-	2,354	127,017	5,604	134,975
Disposals	-	-	(78,134)	-	(78,134)
At 28 February 25	14,373	15,149	313,540	27,968	371,030
Depreciation and impairment
At 01 March 24	3,339	8,927	170,963	13,346	196,575
Charge for year	1,437	2,169	70,714	4,813	79,133
On disposals	-	-	(78,134)	-	(78,134)
At 28 February 25	4,776	11,096	163,543	18,159	197,574
Net book value
At 28 February 25	9,597	4,053	149,997	9,809	173,456
At 29 February 24	11,034	3,868	93,694	9,018	117,614

4.	Stocks

	2025	2024
	£	£
Work in progress	41,025	54,097
Total	41,025	54,097

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	12,253	23,819
Amounts owed by group undertakings	402,912	522,375
Prepayments and accrued income	10,242	3,184
Total	425,407	549,378

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	14,038	28,465
Bank borrowings and overdrafts	15,832	15,832
Taxation and social security	114,526	151,541
Payments received on account	1,953	32,311
Finance lease and HP contracts	21,170	7,439
Other creditors	118	118
Accrued liabilities and deferred income	50,607	52,302
Total	218,244	288,008

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	6,388	22,220
Other creditors	67,039	15,265
Total	73,427	37,485


	The bank borrowings comprise a Business Bounceback loan from Barclays Bank and a loan from The Energy Saving Trust. The Business Bounceback loan is guaranteed by the UK Government, and is unsecured. It bears interest at 2.5% and is repayable over a 5 year term commencing in 2021. The loan from the Energy Saving Trust is unsecured, interest free and repayable over 5 years commencing in 2021. Other long term creditors relate to hire purchase agreements which are secured over the relevant assets.

The bank borrowings comprise a Business Bounceback loan from Barclays Bank and a loan from The Energy Saving Trust.

The Business Bounceback loan is guaranteed by the UK Government, and is unsecured.  It bears interest at 2.5% and is repayable over a 5 year term commencing in 2021.

The loan from the Energy Saving Trust is unsecured, interest free and  repayable over 5 years commencing in 2021.

Other long term creditors relate to hire purchase agreements which are secured over the relevant assets.

8.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	88,210		22,704

9.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	40,965	26,645
Total	40,965	26,645

10.	Related party transactions
	At the year end, the company was owed £402,912 (2024: £522.375) by its parent company, Truckee Holdings Limited. At the year end, the company was owed £11,763 (2024: £nil) by 227/1 High Street Limited, a company under common control.