Company registration number SC523446 (Scotland)
BLACKHOUSE (SCOTLAND) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
BLACKHOUSE (SCOTLAND) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
BLACKHOUSE (SCOTLAND) LIMITED
BALANCE SHEET
AS AT
31 MAY 2025
31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Intangible assets
-
0
-
0
Current assets
Stocks
12,300
18,350
Debtors
3
13,694
14,675
Cash at bank and in hand
690
155
26,684
33,180
Creditors: amounts falling due within one year
4
(72,154)
(73,041)
Net current liabilities
(45,470)
(39,861)
Creditors: amounts falling due after more than one year
5
(100)
(1,300)
Net liabilities
(45,570)
(41,161)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(45,670)
(41,261)
Total equity
(45,570)
(41,161)

For the financial year ended 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 23 February 2026
Mr G Blackadder
Director
Company registration number SC523446 (Scotland)
BLACKHOUSE (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 2 -
1
Accounting policies
Company information

Blackhouse (Scotland) Limited is a private company limited by shares incorporated in Scotland. The registered office is 3 Castle Court, Carnegie Campus, Dunfermline, Fife, KY11 8PB.

1.1
Basis of preparation

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 102 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 a mounts 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.

1.2
Going concern

The financial statements have been prepared on a going concern basis, which assumes the continued support of Izon Projects Limited, a related company. Izon Projects Limited has agreed to provide the company with funds as required. The director believes it is therefore appropriate to prepare the financial statements on a going concern basis.true

1.3
Revenue

Turnover represents amounts receivable for the supply of bespoke hand crafted artisan furnishings that celebrate the heritage of Harris Tweed, 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.

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.

1.4
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 labour 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.

BLACKHOUSE (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 3 -
1.5
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 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.

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 paymen ts 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. A m ounts 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 amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

1.7
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.

BLACKHOUSE (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 4 -

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 realised. 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.

1.8
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.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
3
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
-
0
699
Other debtors
154
436
154
1,135
Deferred tax asset
13,540
13,540
13,694
14,675
4
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
1,200
1,200
Trade creditors
3,550
3,550
Other creditors
67,404
68,291
72,154
73,041
BLACKHOUSE (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 5 -
5
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
100
1,300
6
Related party transactions

Included within other creditors due within one year is a loan balance of £66,121 (2024 - £66,371) due to Izon Projects Limited, a company in which Mr G Blackadder is a director and shareholder.

2025-05-31 2024-06-01 false false false 23 February 2026 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr G Blackadder SC523446 2024-06-01 2025-05-31 SC523446 2025-05-31 SC523446 2024-05-31 SC523446 core:CurrentFinancialInstruments core:WithinOneYear 2025-05-31 SC523446 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 SC523446 core:CurrentFinancialInstruments 2025-05-31 SC523446 core:CurrentFinancialInstruments 2024-05-31 SC523446 core:Non-currentFinancialInstruments 2025-05-31 SC523446 core:Non-currentFinancialInstruments 2024-05-31 SC523446 core:ShareCapital 2025-05-31 SC523446 core:ShareCapital 2024-05-31 SC523446 core:RetainedEarningsAccumulatedLosses 2025-05-31 SC523446 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC523446 bus:Director1 2024-06-01 2025-05-31 SC523446 2023-06-01 2024-05-31 SC523446 core:WithinOneYear 2025-05-31 SC523446 core:WithinOneYear 2024-05-31 SC523446 bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 SC523446 bus:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 SC523446 bus:FRS102 2024-06-01 2025-05-31 SC523446 bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 SC523446 bus:FullAccounts 2024-06-01 2025-05-31 xbrli:pure xbrli:shares iso4217:GBP