REGISTERED NUMBER: SC301968 (Scotland)

Borders Underfloor Heating Limited

Unaudited Financial Statements

for the Year Ended 30th April 2025

Page

Company information

1

Balance sheet

2

to

3

Notes to the financial statements

4

to

7

Directors:

S H Currie

Rev P A Whyte

Secretary:

Rev P A Whyte

Registered office:

Solus

26 Coopersknowe Crescent

Galashiels

Selkirkshire

TD1 2DS

Registered number:

SC301968 (Scotland)

Accountants:

Rennie Welch LLP

Academy House

Shedden Park Road

Kelso

Roxburghshire

TD5 7AL

Fixed assets

Tangible assets

4

7,890

9,187

Current assets

Stocks

7,184

5,000

Debtors

5

25,490

86,099

Cash at bank

36,234

15,373

68,908

106,472

Creditors

Amounts falling due within one year

6

28,798

26,115

Net current assets

40,110

80,357

Total assets less current liabilities

48,000

89,544

Creditors

Amounts falling due after more than one year

7

-

(6,667

)

Provisions for liabilities

(1,657

)

(1,929

)

Net assets

46,343

80,948

Capital and reserves

Called up share capital

1,000

1,000

Retained earnings

45,343

79,948

Shareholders' funds

46,343

80,948

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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.

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 income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th November 2025 and were signed on its behalf by:

S H Currie - Director

1.	Statutory information

Borders Underfloor Heating Limited 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.

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 represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.

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.

Equipment

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks

Stock is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling prices less further costs expected to be incurred in bringing the stock to completion.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings 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.

Provisions

Provisions are set up only where it is possible that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits

Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern

The directors have considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and have an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3.	Employees and directors

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

4.	Tangible fixed assets

Motor

Office

Equipment

vehicles

equipment

Totals

£

£

£

£

Cost

At 1st May 2024

520

27,945

3,719

32,184

Additions

-

-

1,092

1,092

At 30th April 2025

520

27,945

4,811

33,276

Depreciation

At 1st May 2024

350

20,215

2,432

22,997

Charge for year

34

1,933

422

2,389

At 30th April 2025

384

22,148

2,854

25,386

Net book value

At 30th April 2025

136

5,797

1,957

7,890

At 30th April 2024

170

7,730

1,287

9,187

5.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

18,468

31,650

Other debtors

7,022

54,449

25,490

86,099

6.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts

5,413

5,580

Trade creditors

5,554

1,588

Taxation and social security

13,327

15,247

Other creditors

4,504

3,700

28,798

26,115

7.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Bank loans

-

6,667

8.	Directors' advances, credits and guarantees

The following advances and credits to the directors subsisted during the years ended 30th April 2025 and 30th April 2024:

2025

2024

Director 1

Balance outstanding at start of year

21,227

2,416

Amounts advanced

22,231

33,561

Amount repaid

(43,458

)

(14,750

)

Balance outstanding at end of year

-

21,227

Director 2

Balance outstanding at start of year

21,227

2,415

Amounts advanced

22,231

33,562

Amount repaid

(43,458

)

(14,750

)

Balance outstanding at end of year

-

21,227

These loans are unsecured and are repayable on demand. Interest has been charged at the official rates published by HMRC.