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# BORDER EMBROIDERIES LIMITED

## Company Registration Number:
SC125229 (Scotland)

## Unaudited statutory accounts for the year ended 31 December 2024

## Period of accounts

## Start date: 1 January 2024

## End date: 31 December 2024

# BORDER EMBROIDERIES LIMITED

## Contents of the Financial Statements

for the Period Ended 31 December 2024

Directors report |
Balance sheet |
Additional notes |
Balance sheet notes |

# BORDER EMBROIDERIES LIMITED

Directors' report period ended 31 December 2024

The directors present their report with the financial statements of the company for the period ended 31 December 2024

Directors

The directors shown below have held office during the whole of the period from
1 January 2024 to 31 December 2024

SMILLIE, William
SMILLIE, Shirley Anne Mary

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
5 December 2025

And signed on behalf of the board by:
Name: SMILLIE, William
Status: Director

# BORDER EMBROIDERIES LIMITED

## Balance sheet

As at 31 December 2024

| Notes | 2024 | 2023
--- | --- | --- | ---
|  | £ | £
Fixed assets
Intangible assets: | 3 | 102,400 | 115,200
Tangible assets: | 4 | 1,217,167 | 923,616
Investments: | 5 |  | 100
Total fixed assets: |  | 1,319,567 | 1,038,916
Current assets
Stocks: | 6 | 1,850,931 | 1,841,348
Debtors: | 7 | 304,491 | 1,242,731
Cash at bank and in hand: |  | 179,654 | 149,308
Total current assets: |  | 2,335,076 | 3,233,387
Creditors: amounts falling due within one year: | 8 | ( 1,357,601 ) | ( 2,036,874 )
Net current assets (liabilities): |  | 977,475 | 1,196,513
Total assets less current liabilities: |  | 2,297,042 | 2,235,429
Creditors: amounts falling due after more than one year: | 9 | ( 1,068,739 ) | ( 909,571 )
Provision for liabilities: |  |  | ( 137,291 )
Total net assets (liabilities): |  | 1,228,303 | 1,188,567
Capital and reserves
Called up share capital: |  | 20,000 | 20,000
Profit and loss account: |  | 1,208,303 | 1,168,567
Total Shareholders' funds: |  | 1,228,303 | 1,188,567

The notes form part of these financial statements

# BORDER EMBROIDERIES LIMITED

## Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 9 December 2025
and signed on behalf of the board by:

Name: SMILLIE, William
Status: Director

The notes form part of these financial statements

# BORDER EMBROIDERIES LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

- ## 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  1 Accounting policies Company information Border Embroideries Limited is a private company limited by shares incorporated in Scotland. The registered office is Unit 1. Duns Road Industrial Estate, Greenlaw, TD10 6XJ. 1.1 Accounting convention These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. Turnover Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts. settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

  Tangible fixed assets depreciation policy

  Tangible fixed Assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Land and buildings Freehold Nil/5% Reducing Balance Property improvements Nil/2% Straight Line Plant and machinery 15% Reducing Balance Computer equipment 15% Reducing Balance/20% Straight Line Motor vehicles 25% Straight Line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

  Intangible fixed assets amortisation policy

  Intangible fixed assets - goodwill Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years. For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

  Other accounting policies

  Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labor costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss. Cash and 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. Financial instruments The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realize the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest, unless the adjustments are immaterial, when the balance is held at transaction price. Financial assets classified as receivable within one year are not amortized. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortized. Debt instruments are subsequently carried at amortized cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently. Equity instruments Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. Taxation The tax expense represents the sum of the tax currently payable and deferred tax. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Deferred tax Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realized. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority. Employee benefits The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. measured at amortized cost using the effective interest method.

# BORDER EMBROIDERIES LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

- ## 2. Employees

  | 2024 | 2023
  --- | --- | ---
  Average number of employees during the period | 95 | 95

# BORDER EMBROIDERIES LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 3. Intangible assets

| Goodwill | Other | Total
--- | --- | --- | ---
Cost | £ | £ | £
At 1 January 2024 | 326,000 | 0 | 326,000
Additions |  |  |
Disposals |  |  |
Revaluations |  |  |
Transfers |  |  |
At 31 December 2024 | 326,000 | 0 | 326,000
Amortisation |  |  |
At 1 January 2024 | 210,800 | 0 | 210,800
Charge for year | 12,800 | 0 | 12,800
On disposals |  |  |
Other adjustments |  |  |
At 31 December 2024 | 223,600 | 0 | 223,600
Net book value |  |  |
At 31 December 2024 | 102,400 | 0 | 102,400
At 31 December 2023 | 115,200 | 0 | 115,200

# BORDER EMBROIDERIES LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 4. Tangible assets

| Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total
--- | --- | --- | --- | --- | --- | ---
Cost | £ | £ | £ | £ | £ | £
At 1 January 2024 | 0 | 1,997,712 | 0 | 0 | 0 | 1,997,712
Additions | 0 | 293,551 | 0 | 0 | 0 | 293,551
Disposals | 0 | 0 | 0 | 0 | 0 | 0
Revaluations | 0 | 0 | 0 | 0 | 0 | 0
Transfers | 0 | 0 | 0 | 0 | 0 | 0
At 31 December 2024 | 0 | 2,291,263 | 0 | 0 | 0 | 2,291,263
Depreciation |  |  |  |  |  |
At 1 January 2024 | 0 | 1,074,096 | 0 | 0 | 0 | 1,074,096
Charge for year |  |  |  |  |  |
On disposals |  |  |  |  |  |
Other adjustments |  |  |  |  |  |
At 31 December 2024 | 0 | 1,074,096 | 0 | 0 | 0 | 1,074,096
Net book value |  |  |  |  |  |
At 31 December 2024 | 0 | 1,217,167 | 0 | 0 | 0 | 1,217,167
At 31 December 2023 | 0 | 923,616 | 0 | 0 | 0 | 923,616

# BORDER EMBROIDERIES LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 5. Fixed assets investments note

Fixed asset investments Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

# BORDER EMBROIDERIES LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 6. Stocks

| 2024 | 2023
--- | --- | ---
| £ | £
Stocks | 1,850,931 | 1,841,348
Total | 1,850,931 | 1,841,348

# BORDER EMBROIDERIES LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 7. Debtors

| 2024 | 2023
--- | --- | ---
| £ | £
Trade debtors | 304,491 | 425,749
Other debtors | 0 | 816,982
Total | 304,491 | 1,242,731

# BORDER EMBROIDERIES LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 8. Creditors: amounts falling due within one year note

| 2024 | 2023
--- | --- | ---
| £ | £
Trade creditors | 1,357,601 | 2,036,874
Total | 1,357,601 | 2,036,874

# BORDER EMBROIDERIES LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 9. Creditors: amounts falling due after more than one year note

| 2024 | 2023
--- | --- | ---
| £ | £
Other creditors | 1,068,739 | 909,571
Total | 1,068,739 | 909,571