DUCTFORM HVAC FABRICATION & ENGINEERING LTD


Directors	Roland Ferry
	Stacey-Lee Ferry


Company Secretary	Stacey-Lee Ferry


Registered Address	17 Faraday Road Southfield Industrial Estate
	Glenrothes
	KY6 2RU


Registered Number	SC581147 (Scotland)

Balance Sheet as at
30 April 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		80,767		96,102
			80,767		96,102
Current assets
Stocks		495,786		291,420
Debtors	4	1,200,238		1,693,381
Cash at bank and on hand		2,342		4,580
		1,698,366		1,989,381
Creditors amounts falling due within one year	5	(1,471,448)		(1,400,432)
Net current assets (liabilities)			226,918		588,949
Total assets less current liabilities			307,685		685,051
Creditors amounts falling due after one year	6		(232,850)		(981,501)
Provisions for liabilities			(8,664)		(9,403)
Net assets			66,171		(305,853)
Capital and reserves
Called up share capital			1		1
Profit and loss account			66,170		(305,854)
Shareholders' funds			66,171		(305,853)

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 2 March 2026, and are signed on its behalf by:

Stacey-Lee Ferry
Director
Registered Company No. SC581147

DUCTFORM HVAC FABRICATION & ENGINEERING LTD

Notes to the Financial Statements
for the year ended 30 April 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 financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Turnover policy
	With the exception of long term contracts, turnover represents amounts receivable during the year, excluding Value Added Tax. Revenue from long term contracts is recognised by reference to the stage of completion of contract activity at the balance sheet date. This is normally determined by the proportion that contract costs incurred to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. If the nature of a particular contract means that costs incurred do not accurately reflect the progress of contract activity, an alternative approach is used such as the achievement of pre-determined contract milestones. Profit attributable to contract activity is recognised if the final outcome of such contracts can be reliably assessed. On all contracts, full provision is made for any losses in the year in which they are first foreseen. Revenue from services provided on a short-term or one-off basis is recognised when the service is complete.

Turnover policy

With the exception of long term contracts, turnover represents amounts receivable during the year, excluding Value Added Tax.

Revenue from long term contracts is recognised by reference to the stage of completion of contract activity at the balance sheet date. This is normally determined by the proportion that contract costs incurred to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. If the nature of a particular contract means that costs incurred do not accurately reflect the progress of contract activity, an alternative approach is used such as the achievement of pre-determined contract milestones.

Profit attributable to contract activity is recognised if the final outcome of such contracts can be reliably assessed. On all contracts, full provision is made for any losses in the year in which they are first foreseen.

Revenue from services provided on a short-term or one-off basis is recognised when the service is complete.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee 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.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	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.

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


		Straight line (years)
	Land and buildings	10
	Plant and machinery	10
	Fixtures and fittings	10

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Finance leases and hire purchase contracts

Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

	Stocks and work in progress
	Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. Work in progress Applications applied for are recognised as turnover. The attributable profit on contracts is recognised once their outcome can be assessed with reasonable certainty. The profit recognised reflects the proportion of the work completed to date on the project. Costs associated with contracts are included in work in progress to the extent that they cannot be matched with contract work accounted for as turnover. Costs are defined as direct costs plus attributable overheads based on normal level of activity. Full provision is made for losses on all contracts in the year in which the loss is foreseen.

Stocks and work in progress

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Work in progress

Applications applied for are recognised as turnover. The attributable profit on contracts is recognised once their outcome can be assessed with reasonable certainty. The profit recognised reflects the proportion of the work completed to date on the project.

Costs associated with contracts are included in work in progress to the extent that they cannot be matched with contract work accounted for as turnover. Costs are defined as direct costs plus attributable overheads based on normal level of activity.

Full provision is made for losses on all contracts in the year in which the loss is foreseen.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	72		79

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Fixtures & fittings	Total
	£	£	£	£
Cost or valuation
At 01 May 24	129,114	35,878	11,905	176,897
Additions	-	4,676	-	4,676
Disposals	-	(2,334)	-	(2,334)
At 30 April 25	129,114	38,220	11,905	179,239
Depreciation and impairment
At 01 May 24	63,420	11,132	6,243	80,795
Charge for year	12,899	3,822	1,190	17,911
On disposals	-	(234)	-	(234)
At 30 April 25	76,319	14,720	7,433	98,472
Net book value
At 30 April 25	52,795	23,500	4,472	80,767
At 30 April 24	65,694	24,746	5,662	96,102


	Clydesdale Bank Plc hold a floating charge over all property and undertakings of the Company.

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	1,098,875	1,161,456
Amounts owed by group undertakings	-	366,881
Other debtors	77,607	140,247
Prepayments and accrued income	23,756	24,797
Total	1,200,238	1,693,381

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	447,373	482,891
Bank borrowings and overdrafts	491,554	507,621
Taxation and social security	259,192	230,988
Finance lease and HP contracts	17,055	26,038
Other creditors	74,905	49,332
Accrued liabilities and deferred income	181,369	103,562
Total	1,471,448	1,400,432

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	63,427	118,435
Amounts owed to related parties	-	820,641
Other creditors	169,423	42,425
Total	232,850	981,501

7.	Other commitments
	Total amount of commitments, guarantees and contingencies is £126,264 (2024: £120,141).

8.	Directors advances, credits and guarantees
	There are no fixed repayment terms for overdrawn directors loan balances and no interest is charged.