Derek Hagan Joinery Services Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: SC295987 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Derek Hagan Joinery Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D Hagan

SECRETARY:

Mrs S Hagan

REGISTERED OFFICE:

4 St Maura Gardens

Millport

Isle of Cumbrae

KA28 0HL

REGISTERED NUMBER:

SC295987 (Scotland)

ACCOUNTANTS:

McLay McAlister & McGibbon LLP

Chartered Accountants

145 St Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Tangible assets

4

54,344

38,665

CURRENT ASSETS

Stocks

2,453

1,769

Debtors

5

43,366

29,090

Investments

6

-

50,000

Cash at bank

123,595

58,798

169,414

139,657

CREDITORS

Amounts falling due within one year

7

(21,584

)

(22,198

)

NET CURRENT ASSETS

147,830

117,459

TOTAL ASSETS LESS CURRENT
LIABILITIES

202,174

156,124

PROVISIONS FOR LIABILITIES

(5,482

)

(2,502

)

NET ASSETS

196,692

153,622

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

196,592

153,522

SHAREHOLDERS' FUNDS

196,692

153,622

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 December 2025 and were signed by:

D Hagan - Director

1.	STATUTORY INFORMATION

Derek Hagan Joinery Services 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.	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 the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Debtors

Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise cash in hand and bank overdrafts.

Creditors

Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

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.

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.

Investments

Investments are shown at cost, with movement recognised in the profit and loss account for the year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 April 2024

25,500

53,490

78,990

Additions

-

31,019

Disposals

-

(28,298

)

(28,298

)

At 31 March 2025

25,500

56,211

81,711

DEPRECIATION

At 1 April 2024

-

40,325

Charge for year

-

2,947

Eliminated on disposal

-

(15,905

)

(15,905

)

At 31 March 2025

-

27,367

NET BOOK VALUE

At 31 March 2025

25,500

28,844

54,344

At 31 March 2024

25,500

13,165

38,665

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

25,455

11,255

Other debtors

17,911

17,835

43,366

29,090

6.	CURRENT ASSET INVESTMENTS

31.3.25

31.3.24

£

Unlisted investments

-

50,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Taxation and social security

17,094

15,521

Other creditors

4,490

6,677

21,584

22,198