HADPLAID LIMITED


Directors	ATWAL, Harjinder Singh
	ATWAL, Narinder Singh


Company Secretary	ATWAL, Narinder Singh


Registered Address	108/1 George Street
	Edinburgh
	EH2 4LH


Registered Number	SC363349 (Scotland)

Notes to the Financial Statements
for the year ended 31 March 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
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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.

	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.

	Intangible assets
	Goodwill, being the amount paid in connection with the acquisition of a business and, is being amortised evenly over its estimated useful life of 10 years.

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


		Reducing balance (%)
	Land and buildings	10
	Fixtures and fittings	25
	Office Equipment	25

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Investment property
	Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

	Financial instruments
	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 realise 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 amortised 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. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans 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 amortised. 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 measured at amortized cost using the effective interest method.

Financial instruments

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 realise 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 amortised 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans 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 amortised.

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 measured at amortized cost using the effective interest method.

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	199		201

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 April 24	2,313,210	2,313,210
Disposals	(2,313,210)	(2,313,210)
Amortisation and impairment
At 01 April 24	1,775,852	1,775,852
Charge for year	115,660	115,660
On disposals	(1,891,512)	(1,891,512)
Net book value
At 31 March 25	-	-
At 31 March 24	537,358	537,358

4.	Tangible fixed assets

	Land & buildings	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 April 24	144,602	66,544	66,251	277,397
At 31 March 25	144,602	66,544	66,251	277,397
Depreciation and impairment
At 01 April 24	94,180	60,109	55,967	210,256
Charge for year	5,042	1,609	2,562	9,213
At 31 March 25	99,222	61,718	58,529	219,469
Net book value
At 31 March 25	45,380	4,826	7,722	57,928
At 31 March 24	50,422	6,435	10,284	67,141


	Land and buildings incudes the leasehold improvements.

5.	Investment property
	In the opinion of the director, the market value of the other property is not materially different to the carrying value in the accounts as the balance sheet date.


		£
	Fair value at 01 April 24	923,441
	Disposals	(643,441)
	At 31 March 25	280,000

6.	Fixed asset investments

	Investments in groups¹	Other investments²	Total
	£	£	£
Cost or valuation
At 01 April 24	1	171,458	171,459
Additions	-	50,660	50,660
Disposals	-	(24,459)	(24,459)
At 31 March 25	1	197,659	197,660
Net book value
At 31 March 25	1	197,659	197,660
At 31 March 24	1	171,458	171,459

	Notes
	¹Investments in group undertakings and participating interests ²Other investments other than loans

7.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	1,807,883	1,711,528
Other debtors	2,409,160	1,091,576
Prepayments and accrued income	12,282	13,232
Total	4,229,325	2,816,336

8.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	60,971	145,132
Bank borrowings and overdrafts	5,356	73,659
Taxation and social security	119,545	229,557
Other creditors	1,117,854	1,280,014
Accrued liabilities and deferred income	5,712	19,355
Total	1,309,438	1,747,717

9.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	22,316	95,059
Total	22,316	95,059


	Included within other creditors falling due within one year and creditors falling due after more than one year is £27,672 (2024: £33,028) in respect of a bank loan which is guaranteed by the government under Coronavirus Business Interruption Loan Scheme.

10.	Related party transactions
	Included in trade and other debtors falling due within one year are due from companies connected to the director. H & N Developments LLP £6,991 (2024: £102,364); HA Aberdeen Ltd £137,455 (2024: £68,511); HA Fife Ltd £147,528 (2024: £107,024); HWS Edinburgh Ltd £25,338 (2024: £60,546); JA Fife Ltd £435,857 (2024: £103,243); Jedco Ltd £242,671 (2024: £144,154 ); MCA Edinburgh Ltd £34,775 (2024: £63,766); NA Aberdeen Ltd £559,632 (2024: £436,744); NA Edinburgh Ltd £613,280 (£791,325); PB Edinburgh Ltd £464,730 (2024: £371,938); Project Beam Ltd £2,333 (2024: £2,301) Wildflower Ltd £18,446 (2024: £18,413); Avanti Commercial Properties Ltd £845,500 (2024: Nil); Icon Brands Ateam Ltd £25,599 (2024: Nil) Included in trade and other creditors falling due within one year is due to companies connected to the director. H&N Holdings Ltd £123,755 (2024: £519,601) Included in other creditors due within 12 months are the amount due to the director £783,881 (2024: £394,051)

10.

Related party transactions

Included in trade and other debtors falling due within one year are due from companies connected to the director.

H & N Developments LLP £6,991 (2024: £102,364); HA Aberdeen Ltd £137,455 (2024: £68,511); HA Fife Ltd £147,528 (2024: £107,024); HWS Edinburgh Ltd £25,338 (2024: £60,546); JA Fife Ltd £435,857 (2024: £103,243); Jedco Ltd £242,671 (2024: £144,154 ); MCA Edinburgh Ltd £34,775 (2024: £63,766); NA Aberdeen Ltd £559,632 (2024: £436,744); NA Edinburgh Ltd £613,280 (£791,325); PB Edinburgh Ltd £464,730 (2024: £371,938); Project Beam Ltd £2,333 (2024: £2,301) Wildflower Ltd £18,446 (2024: £18,413); Avanti Commercial Properties Ltd £845,500 (2024: Nil);  Icon Brands Ateam Ltd £25,599 (2024: Nil)

Included in trade and other creditors falling due within one year is due to companies connected to the director.
H&N Holdings Ltd £123,755 (2024: £519,601)

Included in other creditors due within 12 months are the amount due to the director £783,881 (2024: £394,051)

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		-		537,358
Tangible assets	4		57,928		67,141
Investments	6		197,660		171,459
Investment property	5		280,000		923,441
			535,588		1,699,399
Current assets
Debtors	7	4,229,325		2,816,336
Cash at bank and on hand		267,007		40,080
		4,496,332		2,856,416
Creditors amounts falling due within one year	8	(1,309,438)		(1,747,717)
Net current assets (liabilities)			3,186,894		1,108,699
Total assets less current liabilities			3,722,482		2,808,098
Creditors amounts falling due after one year	9		(22,316)		(95,059)
Net assets			3,700,166		2,713,039
Capital and reserves
Called up share capital			3,500		3,500
Profit and loss account			3,696,666		2,709,539
Shareholders' funds			3,700,166		2,713,039