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REGISTERED NUMBER: SC360707 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

JAMES HARVIE & SONS LTD.

JAMES HARVIE & SONS LTD. (REGISTERED NUMBER: SC360707)

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 31 March 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

JAMES HARVIE & SONS LTD.

COMPANY INFORMATION

for the Year Ended 31 March 2025

| DIRECTORS: | R G Harvie

| Mrs A Harvie

| SECRETARY: | Mrs A Harvie

| REGISTERED OFFICE: | Tinto Garage

| 61 Biggar Road

| Symington

| Biggar

| Lanarkshire

| ML12 6FT

| REGISTERED NUMBER: | SC360707 (Scotland)

| ACCOUNTANTS: | John M Taylor & Co

| Chartered Accountants

| 9 Glasgow Road

| PAISLEY

| Renfrewshire

| PA1 3QS

JAMES HARVIE & SONS LTD. (REGISTERED NUMBER: SC360707)

BALANCE SHEET

31 March 2025

31.3.24 |  | 31.3.25 |

£ | £ |  | Notes | £ | £ |

| FIXED ASSETS

60,000 |  |  | Intangible assets | 5 | 50,000 |  |

28,855 |  |  | Tangible assets | 6 | 58,303 |  |

88,855 |  | 108,303 |  |

| CURRENT ASSETS

35,633 |  |  | Stocks | 29,952 |  |

66,240 |  |  | Debtors | 7 | 61,313 |  |

228,055 |  |  | Cash at bank and in hand | 237,344 |  |

329,928 |  | 328,609 |  |

| CREDITORS

183,972 |  |  | Amounts falling due within one year | 8 | 180,942 |  |

145,956 |  |  | NET CURRENT ASSETS | 147,667 |  |

234,811 |  |  | TOTAL ASSETS LESS CURRENT LIABILITIES | 255,970 |  |

| CREDITORS

(36,949 | ) |  | Amounts falling due after more than one year | 9 | (55,232 | ) |

(5,483 | ) |  | PROVISIONS FOR LIABILITIES | (14,139 | ) |

192,379 |  |  | NET ASSETS | 186,599 |  |

| CAPITAL AND RESERVES

10,000 |  |  | Called up share capital | 10,000 |  |

182,379 |  |  | Retained earnings | 176,599 |  |

192,379 |  |  | SHAREHOLDERS' FUNDS | 186,599 |  |

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.

JAMES HARVIE & SONS LTD. (REGISTERED NUMBER: SC360707)

BALANCE SHEET - continued

31 March 2025

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 1 December 2025 and were signed on its behalf by:

R G Harvie - Director

JAMES HARVIE & SONS LTD. (REGISTERED NUMBER: SC360707)

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| James Harvie & Sons 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

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

| Turnover

| Turnover represents the total invoice value, less credit notes, excluding value added tax of sales made during the period.

| Revenue is recognised when goods or services are received by the customer and the risks and rewards of ownership have been passed to them. Revenue is measured at the fair value of consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of the business, net of discounts and value added tax.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Plant & machinery | - | 25% on reducing balance

| Fixtures and fittings | - | 25% on reducing balance

| Motor vehicles | - | 50% on reducing balance

| Computer equipment | - | 33% on cost

| Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment losses.

| At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

JAMES HARVIE & SONS LTD. (REGISTERED NUMBER: SC360707)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 March 2025

3. | ACCOUNTING POLICIES - continued

| Stocks

| Stocks consist of goods for resale and are valued at the lower of purchase cost and estimated selling price less costs to sell, after making due allowances for obsolete and slow moving items.

| When stocks are sold, the carrying amount of these stock is recognised as an expense in the period in which the related revenue is recognised. The amounts of any write-down of stocks to net realisable value and all losses of stock are recognised as an expense in the period in which the write-down or loss occurs, The amount of any reversal of any write-down of stocks is recognised as a reduction on the amounts of stocks recognised as an expense in the period in which the reversal occurs.

| Taxation

| Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

| The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

| Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

| Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

| 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.

| Cash & cash equivalents

| Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

| Dividends

| Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

| Dividends received are included in the company financial statements in the period in which the related dividends are actually paid, or in respect of the final dividend for the year, approved by shareholders.

| Financial instruments

| Basic financial instruments are recognised at amortised cost. Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 8 (2024 - 7 ) .

JAMES HARVIE & SONS LTD. (REGISTERED NUMBER: SC360707)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 March 2025

5. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 200,000 |  |

| AMORTISATION

| At 1 April 2024 | 140,000 |  |

| Amortisation for year | 10,000 |  |

| At 31 March 2025 | 150,000 |  |

| NET BOOK VALUE

| At 31 March 2025 | 50,000 |  |

| At 31 March 2024 | 60,000 |  |

6. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant & |  | and |  | Motor |  | Computer

| Totals |  | machinery |  | fittings |  | vehicles |  | equipment

£ | £ | £ | £ | £ |

| COST

| At 1 April 2024 | 81,915 |  | 55,924 |  | 8,303 |  | 11,495 |  | 6,193 |  |

| Additions | 37,348 |  | 36,313 |  | - |  | - |  | 1,035 |  |

| At 31 March 2025 | 119,263 |  | 92,237 |  | 8,303 |  | 11,495 |  | 7,228 |  |

| DEPRECIATION

| At 1 April 2024 | 53,060 |  | 29,353 |  | 6,582 |  | 11,495 |  | 5,630 |  |

| Charge for year | 7,900 |  | 6,937 |  | 429 |  | - |  | 534 |  |

| At 31 March 2025 | 60,960 |  | 36,290 |  | 7,011 |  | 11,495 |  | 6,164 |  |

| NET BOOK VALUE

| At 31 March 2025 | 58,303 |  | 55,947 |  | 1,292 |  | - |  | 1,064 |  |

| At 31 March 2024 | 28,855 |  | 26,571 |  | 1,721 |  | - |  | 563 |  |

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade debtors | 38,082 |  | 36,252 |  |

| Other debtors | 23,231 |  | 29,988 |  |

61,313 |  | 66,240 |  |

JAMES HARVIE & SONS LTD. (REGISTERED NUMBER: SC360707)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 March 2025

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade creditors | 54,427 |  | 98,967 |  |

| Taxation and social security | 50,320 |  | 50,637 |  |

| Other creditors | 76,195 |  | 34,368 |  |

180,942 |  | 183,972 |  |

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Other creditors | 55,232 |  | 36,949 |  |

10. | RELATED PARTY DISCLOSURES

| Dividends of £70,600 (2024- £72,000) were paid to the directors during the year.

| The amount due to the directors at the balance sheet date was £80,232 (2024 - £61,949). The loan is repayable on demand, has no fixed repayment terms and interest is payable on the balance at 3% per annam.

11. | CONTROLLING PARTY

| Mr R G Harvie and Mrs A Harvie between them control the company as a result of controlling directly

| 90% of the issued ordinary share capital.